What Is A Good Loan Interest Rate?
Find out all there is to know about the different forms of finance and understand what is a good loan interest rate. Apply for finance in the driver’s seat!
Credit cards and some personal loans have very high interest rates and it makes it very hard to pay the debt off. On top of that the banks and credit card companies also charge late payment fees if you are unable to meet your financial obligations. Lose the extra interest, fees and charges with a simplified debt consolidation loan.
Variable Interest Rates – Principal and Interest | ||
Rate types | Our rates | Comparison |
Standard variable < $150K | 6.04% | 6.05% |
Standard variable > $150K | 6.04% | 6.05% |
Standard variable > $250K | 6.04% | 6.05% |
Line of Credit | – | – |
Fixed Interest Rates – Principal and Interest | ||
Rate types | Our rates | Comparison |
1 year fixed | 6.19% | 5.90% |
2 year fixed | 6.09% | 5.91% |
3 year fixed | 5.99% | 5.91% |
4 year fixed | 5.99% | 5.92% |
5 year fixed | 5.99% | 5.93% |
Variable Interest Rates – Interest Only | ||
Rates | Our rates | Comparison |
Standard variable < $150K | 7.14% | 7.15% |
Standard variable > $150K | 6.34% | 6.32% |
Standard variable > $250K | 6.34% | 6.32% |
Line of Credit | 7.80% – 8.51% | – |
Fixed Interest Rates – Interest Only | ||
Rate types | Our rates | Comparison |
1 year fixed | 6.49% | 5.93% |
2 year fixed | 6.39% | 5.97% |
3 year fixed | 6.29% | 5.99% |
4 year fixed | 6.29% | 6.02% |
5 year fixed | 6.29% | 6.05% |
Variable Interest Rates – Principal and Interest | ||
Rate types | Our rates | Comparison |
Standard variable < $150K | 6.19% | 6.26% |
Standard variable < $250K | 6.19% | 6.26% |
Standard variable > $250K | 6.19% | 6.26% |
Line of Credit | – | – |
Fixed Interest Rates – Principal and Interest | ||
Rate types | Our rates | Comparison |
1 year fixed | 6.39% | 6.10% |
2 year fixed | 6.29% | 6.11% |
3 year fixed | 6.19% | 6.11% |
4 year fixed | 6.19% | 6.12% |
5 year fixed | 6.19% | 6.13% |
Variable Interest Rates – Interest Only | ||
Rate types | Our rates | Comparison |
Standard variable < $150K | 6.54% | 6.61% |
Standard variable < $250K | 6.29% | 6.41% |
Standard variable > $250K | 6.29% | 6.41% |
Line of Credit | 6.79% – 8.51% | – |
Fixed Interest Rates – Interest Only | ||
Rate types | Our rates | Comparison |
1 year fixed | 6.59% | 6.12% |
2 year fixed | 6.44% | 6.85% |
3 year fixed | 6.39% | 6.16% |
4 year fixed | 6.39% | 6.19% |
5 year fixed | 6.39% | 6.21% |
Fixed Interest Rates – Principal and Interest | ||
Rate types | Our rates | Comparison |
1 year fixed | 6.84% | 9.30% |
2 year fixed | 6.54% | 8.98% |
3 year fixed | 6.74% | 8.78% |
4 year fixed | 6.74% | 8.57% |
5 year fixed | 6.84% | 8.43% |
Fixed Interest Rates – Interest Only | ||
Rate types | Our rates | Comparison |
1 year fixed | 6.94% | 9.56% |
2 year fixed | 6.59% | 9.21% |
3 year fixed | 6.84% | 9.01% |
4 year fixed | 6.94% | 8.82% |
5 year fixed | 7.14% | 8.71% |
Paying off credit cards, car finance and other personal loans tend to be a good thing for your credit score. When you combine your loans into one, it shows as paying off your multiple loans.
You need to stick to your debt consolidation loan repayments (which is generally easy because loans are tailored to each applicant, as a payment schedule based upon what is achievable. If you aren’t responsible for meeting your repayments, it can reflect negatively. However, if you follow the plan, this won’t affect your credit negatively.
*Quoted rates above are current as of Oct 5th, 2023. Anything above LVR ≥ 80% may be subject to changes in interest rate.
Interest rates quoted by this site (www.www.debtconsolidationn.com.au) are current as of Oct 5th, 2023 but are subject to change without notification. Please note that our Comparison Rates only apply to the current interest rates and terms provided. There may be different interest amounts, which will result in different comparison rates. Factors such as redraw fees, early repayment fees, and fee waivers are not included in our comparison rate table and can change the cost of your loan.
Find out all there is to know about the different forms of finance and understand what is a good loan interest rate. Apply for finance in the driver’s seat!
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