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Latitude Variable Rate Personal Loan
Borrow $5,000+ with a secured or unsecured personal loan from Latitude. Get competitive interest rates based on your credit score. Apply now!
3 Key Things to Know About This Loan
Personalized Interest Rates – Your rate is tailored to your financial profile, including your credit score, residency, assets, and employment status.
Variable Interest Rates – The rate may fluctuate over time based on market conditions, potentially increasing or decreasing.
Secured or Unsecured Options – Choose between a secured loan backed by an asset or an unsecured loan with no collateral required.
Interest Rate (p.a.)
9.49% to 29.99%
Comp. Rate (p.a.)
10.37% to 30.69%
Min Loan Amount
$5,000
Pros.
Customized Interest Rates
Flexible Loan Amounts
Secured or Unsecured Options
Cons.
$13 Monthly Fee Applies
Possible Early Repayment Charges
Relatively High Minimum & Maximum Interest Rates
Details
Product Details
Product Name
Latitude Variable Rate Personal Loan
Interest Rate (p.a.)
9.49% to 29.99%
Comp. Rate (p.a.)
10.37% to 30.69%
Interest Rate Type
Variable
Min Loan Amount
$5,000
Max. Loan Amount
$70,000
Loan Security
Unsecured
How Does a Latitude Personal Loan Work?
Latitude offers both secured and unsecured personal loans with personalized interest rates. Your rate is determined by factors like your credit score, employment status, residency, and homeownership or mortgage status. Choose the loan type that best fits your needs and get flexible financing options.
Eligibility criteria
To qualify, you must:
Be 18 years or older
Be an Australian citizen or permanent resident
Have stable employment with a regular income
Maintain a good credit history for the past 5 years
Be free from bankruptcy for at least 7 years
Be an existing Latitude Personal Loan customer
How to Apply
Apply easily through the Latitude Financial Services website. Check your eligible interest rate without affecting your credit score. To apply, provide payslips, bank statements, and identification documents. You'll receive a response within 60 seconds, and if approved, funds will be disbursed within 24 hours. Having your documents ready can help speed up the process.
Features of this loan
$395 Establishment Fee Waived – Available for approved personal loan applications submitted through Utility Choice. Offer may be withdrawn anytime. T&Cs apply.
Key Features of Latitude Personal Loans
Variable Interest Rate – Your rate may change based on market conditions, meaning your repayments can increase or decrease.
Personalized Interest Rates – Your rate is based on factors such as credit score, employment duration, homeownership or mortgage status, and residency. A lower risk profile results in a lower rate, while a higher risk profile may lead to a higher rate.
Extra Repayments – No early termination fees for extra repayments on variable-rate loans. However, fixed-rate loans will incur a $500 penalty if repaid with more than 3 months remaining.
Flexible Repayment Options – Choose to repay weekly, fortnightly, or monthly and select your preferred repayment day.
Loan Terms Up to 7 Years – Choose a loan term ranging from 2 years to 7 years to suit your financial needs.