Wisr personal loan repayment calculator

Thinking about taking out a personal loan with Wisr? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Wisr personal loans compare with other options.

I'd like to borrow

$

Loan term

Credit Score ()

Your estimated repayment

at interest rate 10.00 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • No ongoing fees
  • No early repayment fees
  • Good credit borrowers get lower rates
  • Application fee charged
  • No branch access
  • Bad credit borrowers get lower rates

Wisr personal loans rates

Product
Advertised Rate
Comparison Rate*
Repayment
Upfront Fee
Features
Go to site
Company

11.45%

Fixed

12.33%

$659

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

13.45%

Fixed

14.35%

$690

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

16.45%

Fixed

17.37%

$737

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

19.45%

Fixed

20.40%

$786

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

Features of a Wisr personal loan

Wisr offers a range of unsecured personal loans that can be used for a variety of purposes such as debt consolidation, travel, vehicles or home renovation. Security may be requested for certain loan purposes.

Wisr provides personal loans of between $5,000 and $50,000 and terms of either three or five years.

Wisr personal loans have personalised interest rates. Personalised rates mean that the interest rate offered is dependent on the borrower’s credit history. Borrowers with good credit will receive a lower interest rate than borrowers with bad credit.

Wisr charges a one-off establishment fee and late repayment fees, but does not charge ongoing fees or early repayment fees.

Wisr personal loans – customer service

Because Wisr does not operate any branches, customers must contact Wisr by phone or online enquiry. Online enquiries can be submitted at any time, while phone enquiries are welcome on weekdays from 9am to 5:30pm (AEDT).

Who is eligible for a Wisr personal loan?

  • Must be an Australian citizen or permanent resident currently residing in Australia
  • Must be aged 18 years or over
  • Earn more than $30,000 a year before tax
  • No unpaid defaults last 5 years
  • No bankruptcies last 7 years
  • Not currently in financial hardship

How to apply for a Wisr personal loan?

  • Fill out the online form to get a personalised rate estimate
  • Complete loan and contact details
  • Read and agree to terms and conditions
  • Click ‘Get estimate’

Wisr personal loans review

Wisr is a neo-lender that provides unsecured loans and, in some cases, secured loans to Australian borrowers. Because Wisr operates exclusively online, it is better suited to tech-savvy borrowers than people who struggle with technology.

Wisr personal loans have a maximum amount of $50,000 and loan terms of either three or five years. Wisr personal loans do not charge any annual or monthly fees, and there are no charges for early repayment.

Wisr uses personalised interest rates for its personal loans. Wisr personal loan rates may range from moderately low to high depending on a number of factors, including the applicant’s credit history. Applicants with good credit may receive lower interest rates than borrowers with bad credit.

To find the best personal loan for you, it’s important to compare your options. When you compare personal loan rates from several different lenders, you’ll be in a better position to choose the loan that’s right for you.

Learn more about Wisr

How much can you borrow with a bad credit personal loan?

Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans, they also get loaned less money. Each lender has its own policies and loan limits, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.

What is a bad credit personal loan?

A bad credit personal loan is a personal loan designed for somebody with a bad credit history. This type of personal loan has higher interest rates than regular personal loans as well as higher fees.

Can you refinance a $5000 personal loan?

Much like home loans, many personal loans can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.

If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.

Do student personal loans require security?

While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, which typically have higher interest rates.

Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will fully or partially guarantee the loan, taking on the financial responsibility if the borrower defaults.

What is the average interest rate on personal loans for single parents?

Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.

What is an unsecured bad credit personal loan?

A bad credit personal loan is ‘unsecured’ when the borrower doesn’t offer up an asset, such as a car or jewellery, as collateral or security. Lenders generally charge higher interest rates on unsecured loans than secured loans.

What are the pros and cons of bad credit personal loans?

In some instances, bad credit personal loans can help people with bad credit history to consolidate their debts, which can help make it easier for them to clear those debts. This is because the borrower might be able to consolidate several debts with higher interest rates (such as credit card loans) into one single debt with a lower interest rate and potentially fewer fees.

However, this strategy can backfire if the borrower spends the loaned funds instead of using it to repay the new loan. Another disadvantage of bad credit personal loans is that they have higher interest rates than regular personal loans.

Can I get a no credit check personal loan?

Personal loans with no credit checks are available and called ‘payday loans’. These are sometimes used as short-term solutions for cash-strapped Australians. They often carry higher interest rates and fees than regular personal loans, and individuals risk putting themselves into a worsened cycle of debt.

What are the pros and cons of personal loans?

The advantages of personal loans are that they’re easier to obtain than mortgages and usually have lower interest rates than credit cards.

One disadvantage with personal loans is that you have to go through a formal application process, unlike when you borrow money on your credit card. Another disadvantage is that you’ll be charged a higher interest rate than if you borrowed the money as part of a mortgage.

Should I get a fixed or variable personal loan?

Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.

A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent. You won't have to worry about higher repayments if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.

Can single mothers get personal loans online?

Many lenders offer online applications for personal loans, which can be convenient for borrowers who have busy lives. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.

Are there emergency loans with no credit checks?

While many personal loans require a credit check as part of the application process, some personal loans and payday loans have no credit checks, which may appeal to some borrowers with a bad credit score.

Keep in mind that even if a loan is available with no credit check, the lender will likely want to confirm that you can afford the repayments on your current income.

Can I get guaranteed approval for a bad credit personal loan?

Few, if any, lenders would be willing to give guaranteed approval for a bad credit personal loan. Borrowers with bad credit histories can have more complicated financial circumstances than other borrowers, so lenders will want time to study your application. 

It’s all about risk. When someone applies for a personal loan, the lender evaluates how likely that borrower would be to repay the money. Lenders are more willing to give personal loans to borrowers with good credit than bad credit because there’s a higher likelihood that the personal loan will be repaid. 

So a borrower with good credit is more likely to have a loan approved and to be approved faster, while a borrower with bad credit is less likely to have a loan approved and, if they are approved, may be approved slower.

What is a personal loan?

A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan. However, the process is easier and faster than taking out a mortgage.

Loan sizes typically range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.

What do credit scores have to do with personal loan interest rates?

There is a strong link between credit scores and personal loan interest rates because many lenders use credit scores to help decide what interest rates to offer to potential borrowers.

If you have a higher credit score, lenders will probably classify you as a lower-risk borrower. That means they’ll be keen to win your business, so they may offer you a lower interest rate if you apply for a personal loan.

If you have a lower credit score, lenders will probably classify you as a higher-risk borrower. That means they might be concerned about you defaulting on the loan and costing them money. As a result, they might protect themselves by charging you a higher interest rate.