Enjoy a low rate wedding 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 2067 borrowers have rated us 4.8/5 on ProductReview. Here’s what those happy customers have to say about our loans.
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.
The staff I dealt with were very helpful and professional. The administration costs were lower than other peer to peer lenders in the market. The interest rate was competitive and lower than I expected.
Approved and great rate matched with lender in 24 hours. Process was simple, feedback great with everything very well explained. Funds deposited in nominated account in less than 2 business days.
My experience with RateSetter has been exceptional. The whole process was simple, painless, speedy and efficient. Much less stressful than any other loan. I could not have asked for a better service.
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.
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 a wedding loan?
A wedding loan is a form of unsecured personal loan that you can use to finance your big day. It provides you with the cash you need to book a venue, hire a DJ, buy a dream bridal gown, hire caterers, and more.
According to Moneysmart, the average Australian wedding costs $36,200. CANSTAR puts the figure even higher, at $65,482. Either way, there’s no escaping the fact that hosting a wedding can be a very expensive exercise. However, with a low rate RateSetter loan you don’t need to give up on enjoying the wedding of your dreams just because you can’t pay for it all at once.
A wedding 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 for a loan, you must submit an application and agree to a credit check that takes into account your borrowing history, employment status, credit score, and other factors.
What can I use it loan for?
Your loan can be used to fund anything you need for your big day (and beyond). Borrow for:
- Wedding rings / engagement rings
- Wedding venue hire
- Flowers / decorations
- Hair and makeup
- Wedding catering
- Wedding dresses / bridesmaids dresses / formal wear
- Photography / videography
- Wedding car hire
- Wedding cakes
- Wedding music
How much does it cost?
A wedding loan generally has three components that that affect 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 may be displayed to you as a comparison rate that represents the total effective price of a loan. This allows you to compare different loans to find the one that best suits your needs.
See below for an overview of fees and charges (including interest rates) associated with RateSetter’s personal loans:
|Term||1 yr||2 yr||3 yr||4 yr||5 yr|
|Credit Assistance Fee||from|
|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 9am, 3 September 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?
RateSetter provides secured and unsecured loans to Australian-residents. Save time before applying by making sure:
- 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 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 7.26% p.a. the estimated total amount payable including all applicable fees is $11,492. RateSetter loan repayment terms range from a minimum of 6 months to a maximum of 5 years. Interest rates range from 5.54% p.a. (comparison rate 7.16% p.a.) to 12.47% p.a. (comparison rate 20.38% p.a.). Rates are subject to change depending on the rates offered by lenders in our Lending Markets. Rates stated as at 9am, 3 September 2019 and are subject to change. RateSetter credit criteria and terms and conditions apply.