Low rate debt consolidation loans

With a simple monthly payment, a RateSetter consolidation loan could be a faster way to take control of your high interest credit card, store card or other bank debt.


How much could you save with RateSetter?

RateSetter offers fast, low rate personal loans that could save you over $1,000.^

Get your personalised rate in 1 minute today, without impacting your credit score.


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Takes 1 minute and won't affect your credit score

Debt consolidation loans that are made for you

Conquer your credit card debts by combining multiple high-interest payments into one, low monthly repayment.

  • Low interest rates

    We reward good borrowers with low rate debt consolidation loans

  • Flexible loan options

    Secured and unsecured personal loans from $2,001 to $45,000. Terms from 6 months to 5 years

  • Simply smarter

    No exit fees or early repayment penalties, so you can be debt free faster. Simple online loan management to help you keep track

  • Fast online application

    1 minute RateEstimate. 5 minute application

Save thousands with a RateSetter debt consolidation loan

The sooner you switch to RateSetter, the sooner you could start saving.

personal loan
Big 4
Personal Loans
credit card
Comparison rate9.99%16.15%19.75%
Monthly payments$322$352$370
Interest paid over 3 years$1,615$2,648$3,333
Savings with RateSetter$1,033 – $1,718

*Comparison based on interest rates and fees available from RateSetter for a $10,000, 3 year unsecured personal loan for a customer with an excellent credit history compared with the interest rates for a $10,000, 3 year fixed, unsecured personal loan product from ANZ, Westpac, Commonwealth Bank and National Australia Bank (as published on the respective bank website and excluding any temporary or special promotional offers) as at 10.00am, 6 September 2018. Comparison rate calculated based on a 3 year, $10,000 unsecured personal loan. Credit card rate stated is RBA F5 average standard credit card interest rate as at 6 September 2018 and excludes any annual or monthly fees. Credit card calculation assumes repayment of $10,000 balance over 3 years. Both calculations assume 36 equal monthly payments and no prepayment amounts.WARNING: This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. RateSetter credit criteria and terms and conditions apply. The actual rates and fees you may be charged will depend on your loan amount, term, financial circumstances and credit history. Rates offered by RateSetter or any other lender may change at any time without notice.

Debt consolidation loans in 48 hours

  1. 1

    Check your rate

    Check your personalised rate with our 1 minute RateEstimate (it won't affect your credit score)

    1 minute
  2. 2

    Apply online

    Apply online in minutes

    5 minutes
  3. 3

    Get a decision

    Some approvals happen within minutes, but it can take up to one business day to make a decision after we've received everything we need

    From 10 minutes
  4. 4

    Receive your funds

    Funds will be transferred to your bank account on the business day after your loan is funded. Same day transfer may be available in some cases

    Next business day
  • You are aged 21 or over
  • You are an Australian citizen or permanent resident, or a New Zealand citizen
  • You have a regular source of income
  • You have a good credit history

Debt consolidation loans that help Australians save thousands


Value of personal loans funded

30,000+ delighted borrowers

Australia's most-loved debt consolidation loans

RateSetter is rated 4.8 / 5 by our borrowers on independent review website ProductReview.com.au and 5 / 5 by rating agency Canstar. RateSetter offers the highest rated personal loan in Australia. 


"Thank you for making my debt consolidation process so quick and easy and at such a competitive interest rate. The process was very simple and straightforward and the staff I dealt with were helpful."

Kev Sydney

"The Team at RateSetter were very friendly and extremely understanding of my particular situation, they asked the right questions when there were some left-field elements with my application."

Jayson Melbourne

"Professional and helpful team. When I needed assistance I did not need to wait for one specific team member, whoever answered the phone was up to date with my details and able to assist immediately."

Andy Adelaide
Sydney Morning Herald - Borrowers

"Watch out big banks, here comes RateSetter"

News - Borrowers

"RateSetter may be about to revolutionise the unsecured credit sector in the same way Aussie and Wizard rocked the mortgage market in the 1990s"


Frequently asked questions

Circle the date you'll be debt free

Consolidate your debt now

RateSetter debt consolidation loan repayment terms range from 6 months to 5 years. Interest rates range from 3.7% (comparison rate 10.01%) to 9.6% (comparison rate 11.45%), subject to change depending on the rates offered by lenders in our Lending Markets. 

* Representative example: For a 36 month, $10,000 loan for a borrower with a good credit history at a comparison rate of 9.99% p.a., the estimated total amount payable including fees is $11,615 (interest payable is $1,615). 

^ Total payment calculated assuming the monthly repayments over 3 years, based on the comparison rate for a $10,000 loan over 3 years. Savings calculated by comparing the total payment for a RateSetter loan with the average total payment for a fixed, unsecured personal loan from the major banks. Actual total savings from the bank vary from $1,033 - $1,718.

^Rates stated as at 10:00 AM, 6 September 2018 and are subject to change. RateSetter credit criteria and terms and conditions apply. Apply for a personal loan today and consolidate your debt.

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