First P2P lender to win Canstar 5-Star rating for Car Loans

We also picked up a 5-Star rating for Personal Loans for the fifth year in a row!

Not to brag, but we cleaned up in the 2019 Canstar Awards achieving a number of P2P ‘firsts’.

Canstar awarded RateSetter a 5 Star rating in the following categories:

The awards mark several ‘firsts’ for P2P lending including the first P2P institution to ever receive the award for a 5 Star Rated Car Loan product. Canstar has also confirmed RateSetter is the only P2P lender to win the:

  • 5 Star Rated Personal Loan Unsecured Loan award for five consecutive years; and
  • 5 Star Rating awards in both car loan and personal loan categories

We are also the only institution to ever win the combined three awards in the same calendar year.

Our CEO Daniel Foggo said, “We are absolutely delighted to receive these awards and thank Canstar for their recognition of our loan products’ outstanding value. RateSetter has been breaking new ground for peer-to-peer lending in Australia since we started in 2014. We have won the highest rating possible on Australia’s most-trusted rate comparison site every year since inception, and we are proud to now lead the charge in automotive finance as well.”

Since inception, RateSetter has funded nearly $650m loans (over 43,000 consumer loans) across its retail and automotive lending platforms.

Canstar’s 5 Star ratings represent the top 10% of products in their field and compare both cost and features across personal and car loan products available to Australian consumers. Each product reviewed for the Canstar Personal Loan Star Ratings is awarded points for its comparative pricing and for the array of positive features attached to the product. These features include product functionality, flexibility, additional fees & charges and the application process. Learn more about the methodology behind the Canstar ratings here.