Compare Plenti Loan Interest Rates

Find out which Plenti loan is right for you

Put your money into your next big project, not into interest rates and fees.

We've helped bring 127,000 big ideas to life with rates that reward your credit history.

Take a closer look at our rates and fees

Product	Unsecured Personal Loan	Secured Car Loan	Electric Vehicle Loan
Purpose	Bring your big ideas to life sooner with a fixed rate personal loan	Level up your ride and lifestyle with our secured car loans	Enjoy lower rates when you opt for an eligible green vehicle
Interest Rate Type	Fixed	Fixed	Fixed
Secured Loan	No	Yes	Yes
Interest Rate (p.a.)	6.57% - 24.09%	9.49% - 12.99%	8.99% - 12.49%
Comparison Rate*	6.57% - 26.28%	10.06% - 13.58%	9.56% - 13.08%
Credit Assistance Fee	$0 - $595	$249 - $799	$249 - $799
Monthly Account Fee	$0	$0	$0
Early Repayment Fee	$0	$0	$0
Available Terms	3-7 year	3-7 year	3-7 year
Minimum Loan Amount	$5,000	$10,000	$10,000
Maximum Loan Amount	$50,000	$100,000	$100,000
Repayment Frequency	Monthly	Monthly	Monthly
Additional Payments	Yes	Yes	Yes
Additional Payment Fee	$0	$0	$0
	Learn more	Learn more	Learn more

The information contained in this table above are current as at 06/07/2023 and subject to change without notice. This table will be updated periodically.

couple reviewing documents and finances in kitchen while drinking coffee

The low-down on comparing interest rates

If you’ve started comparing personal loans, you’ll know there’s more to interest rates than just a percentage. There are fixed and variable rates, comparison rates and sometimes even additional fees and charges. So what do they all mean, how do they stack up and what’s the best personal loan interest rate for you?

Fixed and variable rates

As their names suggest, a fixed rate is one that will stay the same for a period of time (often the life of your loan, but this will depend on your loan contract) and isn't affected by rate changes in the market. Fixed rates can make it easier to budget as your repayment amount will remain the same regardless of rate changes in the market. However, the disadvantage is that if interest rates drop, you’re still locked in at that higher rate.

A variable rate can go up or go down based on a lender’s response to changes in the market. At Plenti, variable rates can increase and decrease each month based on the rates in our investing platform, the Plenti Lending Platform. A variable rate loan may also mean you can get a longer loan term or the option to redraw, with a variable rate loan.

Comparison rates

You’ll often see a comparison rate listed next to a fixed or variable rate. They’ll help give you an idea of the true cost of a loan when most of the lender’s fees and charges are included. For example, when comparing personal loans, you might find that Lender A is advertising a better rate than Lender B, but when you add in Lender A’s compulsory fees and charges, their rate comes out higher than B’s — and that’s where the comparison rate comes in handy.

While the comparison rate is a useful way to compare multiple lenders and rates, it’s important to remember that not all costs are included.

blonde woman sitting at table and drinking coffee from a white mug

Apply for a personal loan that’s faster, fairer and a whole lot simpler

You can apply for a Plenti personal loan online in just three steps:

1. Get your rate in minutes with our online rate estimate tool
2. Select your preferred loan amount and loan term
3. Finish your application in less than 10 minutes

Get your rate

What is a good interest rate on a personal loan?

Shopping around to find your best rate can help save you thousands in interest over the life of your loan, but the interest rate is only part of the story. Look out for additional fees, as even small ongoing charges can add up over time and make low-interest rate loans more expensive.

Comparison rates do the number crunching for you by rolling together the interest rate, upfront fee and service fee into one percentage figure. It gives you a more accurate understanding of the cost of your personal loan.

What interest rate will I be quoted?

A lender’s advertised rate won’t always be the rate you’re offered. That’s because your lender will assess your personal circumstances, including your credit history, other debts and savings when calculating your rate. So, if you have a low credit score or your income is unstable, you may be offered a higher interest rate.

You could also check the comparison rates on a range of loans to make sure you find the best deal. However, to make sure you’re comparing apples with apples, always check the comparison rates as they roll the interest rate, upfront fee and service fee into one percentage figure.

What are typical fees for personal loans?

Typical personal loan fees consist of upfront fees and ongoing or monthly fees which are paid throughout the life of your loan. Early repayment fees may apply if you decide to make additional payments outside of your contracted repayment amount or if you pay off your loan ahead of schedule. Penalty fees, such as late payment fees, will vary between lenders. To minimise the fees you are charged, make sure to read your lenders’ terms and conditions carefully.

Upfront Fees

Upfront fees, also known as establishment fees or credit assistance fees, are ‘once-off’ charges that are applied at the start of a personal loan. They can be a flat fee, a tiered fee based on the size of your loan, a percentage or even a hybrid of these. At Plenti, our establishment fee — also known as a credit assistance fee — is based on the size of your loan, however, it is not repaid at the beginning of your loan. Instead, this fee is broken down and included in your monthly repayment.

If you decide to use a broker to help with your loan application, you can also expect to pay a brokerage fee for their services. The amount charged will vary between brokers and is often charged as either a flat fee or a percentage of your loan amount.

The fees might look small but remember, upfront fees are usually added to the amount you wish to borrow, so you’ll end up paying interest on those fees as well.

Ongoing or Monthly fees

Also known as account-keeping fees or loan management fees, these are fees that are paid every month across the life of the loan. These fees don’t reduce the amount you owe. For example, a $10 monthly fee on a 5-year loan adds up to $600 in ongoing fees across the life of the loan.

A lot of lenders may have low upfront fees, but their ongoing monthly fees end up costing the borrower more in the long run. The good news is, when you apply for a Plenti loan through our website, you won’t be charged any monthly or ongoing fees.

Early Repayment Fees

If you can manage it, repaying your loan as quickly as possible is a smart way to reduce the overall amount of interest you pay on your loan. However, the last thing you want is to be hit with an early repayment fee (also known as an early exit fee) that undoes all your hard work.

Late or missed payment fees

On the other side of the coin are fees for late or missed payments. While we know you’ll do your best to avoid them, sometimes life happens and you may miss a direct debit. Be prepared by knowing exactly what the fees are and when and why they’re charged. You’ll also want to ensure you make up that payment as soon as possible or you could risk paying a recurring arrears fee while your account shows failed payments. These are common fees and the exact amount charged will vary between lenders.