Enjoy a low rate investment loan that is 100% made for you
- We reward your good credit history with even better rates ensuring the loan you end up with has been tailored for you in every way.
- Winner of Canstar’s Outstanding Value Award for four years running (2015, 2016, 2017 and 2018). We think that’s pretty outstanding.
- Flexible loan terms from 6 months to 5 years for loans between $2,001 and $45,000.
- No monthly or early repayment fees help you save more and pay off your loan faster. Because nobody has ever said ‘yes please’ to fees.
Australia’s most loved personal loan.
Over 2122 borrowers have rated us 4.8/5 on ProductReview. Here’s what those happy customers have to say about borrowing with us.
RateSetter were such a pleasure to deal with. From submitting a query to getting my loan approved, the whole process took less than a week. Thanks so much to the RateSetter team for being amazing!
The turn around was super quick and the application process was amazingly easy! Everything was clearly laid out and straight forward which was really helpful considering I’ve been a little stressed.
It was a surprisingly easy process. RateSetter has helped me combine by debt into one manageable bill with one easy repayment. Definitely would recommend to anyone looking at consolidating.
I truly found this to be one of the easiest sites to navigate. It was so easy to apply and the response times were unreal. The rate was significantly better than minimum rates advertised by other lenders.
Extremely satisfied with the service, no surprises or hidden costs, of course, you always want a better interest rate but they listen when others don’t so well done. I’m impressed by the service.
Getting a loan is as easy as 1, 2, 3.
Get your quote
Discover your personalised interest rate and repayments in 1 minute (without impacting your credit score) with our quick and easy online quote.
Apply in minutes
Finalise your application in 5 minutes, then complete our simple online identity verification and bank statement upload process.
Receive your funds
After receiving your approval, complete our simple online settlement process to receive your loan funds.
You’ve got questions we’ve got answers.
What is an investment loan?
An investment loan is a form of unsecured personal loan that you can use when you need funds to make an investment. You can also use an investment loan to purchase equipment and resources you might need to undertake a creative project or start a small business.
You might have a great idea for a business, or come across an opportunity to make an investment in an up-and-coming venture. Perhaps you’re hoping to make a purchase that will boost your productivity (like a laptop) or help you reduce costs over time (for example, you might wish to buy a more efficient air conditioner for your home office).
Borrowing to invest can carry risk. Using debt to purchase an investment can increase your returns if the value of the underlying investment increases, but losses can be significant when an investment loses value. Before you borrow to invest, you should read ASIC’s Moneysmart guide to borrowing to invest.
An investment loan works just like a personal loan. That is, you borrow a specific amount of money and then pay it back with interest over an agreed term. To qualify you’ll need to submit an application and provide us with information to verify your identity and financial circumstances (such as a bank statement). As part of this process the lender will take into account your borrowing history, employment status, credit score, and other factors.
In reviewing an application for an investment loan, RateSetter will also consider whether or not your proposed investment will return at a rate higher than the interest and other costs of the loan. You may be required to provide details of the investment to support your application.
What can I use it for?
You can use an investment loan for a number of different purposes, including:
- Buying shares
- Purchasing bonds
- Investing in mutual funds
- Purchasing business equipment
We’ll pay funds into your nominated bank account on the next business day following your loan acceptance. This gives you the flexibility to manage and pay for your investment costs any way you like.
How much does it cost?
If you’re considering an investment loan, you may be unsure of how much it will cost. Most loans comprise of three main factors that impact the total cost over the life of the loan:
- the interest rate (this may be fixed or variable)
- a one-time establishment fee
- ongoing fees (such as account maintenance fees, late payment fees, and other charges)
These costs are often combined to create a comparison rate that represents the total price of a loan. This allows you to compare different investment loans to find the one that best suits your needs.
See below for an overview of fees and charges (including interest rates) associated with a RateSetter loans:
|Term||1 Year||2 Year||3 Year||Year 4||Year 5|
|Interest Rate||from 5.75% p.a.||from 5.75% p.a.||from 5.50% p.a.||from 10.12% p.a.||from 10.21% p.a.|
|Comparison Rate*||from 7.44% p.a.||from 7.72% p.a.||from 7.44% p.a.||from 10.93% p.a.||from 7.44% p.a.|
|Credit Assistance Fee||from $249||from $299||from $299||from $299||from $299|
|Early Repayment Fees||$0||$0||$0||$0||$0|
Comparison rates for 1, 2 and 3 year loans are based on an unsecured personal loan of $10,000 over a 36 month term. Comparison rates for 4 and 5 year loans are based on an unsecured personal loan of $30,000 over a 60 month term. Comparison rates shown assume a customer with an excellent credit history. Rates current as at 8pm, 17 October 2019. Warning: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Am I eligible?
- You are aged 21 or over
- You are an Australian citizen or permanent resident
- You have a regular source of income that you can demonstrate
- You have a good credit history
To see if you may qualify for a RateSetter loan, you can get a RateEstimate, it only takes 1 minute and won’t affect your credit score. If you request a RateEstimate, we will ask you a few questions so we can calculate an initial estimate of your borrowing potential, and the rates, fees and charges that may apply to your loan.
In making a final decision, we consider a number of factors, including your credit file as provided to us by Equifax or Illion, our credit bureau partners. If you would like more information regarding your credit file, you should contact Equifax and Illion directly.
What do I need to apply?
To apply for a RateSetter investment loan, you will need to complete our identity verification process successfully. To complete identity verification you will need to provide one or more of the following documents:
- Australian State or Territory-issued drivers licence
- Australian or foreign passport
- Address verification document such as a utility bill or tenancy agreement
These details can either be entered on our website during the application process and automatically verified online or you can upload as part of the application process.
When assessing your application, we are looking for evidence of how suitable a loan is to your current circumstances. Among other things, we’ll assess your:
- Employment stability;
- Repayment history;
- Credit bureau information; and
- Other details you communicate to us.
You will also be asked to verify your income and expenses, and may be asked to provide supporting documentation such as bank statement information or payslips. The documents you will need to provide will be displayed to you during the application process.
Representative example: Based on $10,000 loan with a 36 month term for a borrower with a excellent credit history at a comparison rate of 5.50% p.a. the estimated total amount payable including all applicable fees is $11,196. RateSetter loan repayment terms range from a minimum of 6 months to a maximum of 5 years. Interest rates range from 5.75% p.a. (comparison rate 7.44% p.a.) to 12.78% p.a. (comparison rate 20.71% p.a.). Rates are subject to change depending on the rates offered by lenders in our Lending Markets. Rates stated as at 8pm, 17 October 2019 and are subject to change. RateSetter credit criteria and terms and conditions apply.