Interest rates.
Work out what works for you.

Working out how interest rates work and what works best for you can be daunting and confusing. At Rapid Loans, we make our loan process easy to understand.

We are here to help

Loan Interest Rates

There are just so many personal loans out there on the market. It’s confusing. Especially when there are so many factors to consider in finding your best personal loan. How do you even begin to choose the one that’s right for you?

The answer to finding the best personal loans depends on three simple, yet crucial, steps:
1. Taking full account of your current situation.
2. Comparing personal loan interest rates.
3. Then comparing fees, charges, rules, terms and conditions.

Yes. You must do each one, because a low interest loan might actually be a high overall cost loan. In short, low interest loans are not always the best loans for your circumstances.

Remember, if a company offering low interest loans makes it tricky to understand and compare their rates and fees with their competitors, that’s a sign you need to look very closely.

Or you could try Rapid Loans, we make it easy for you to compare all our options and choose the best personal loan for you. Consultants are always on call and ready to answer any tricky question.

Low rates can mean unexpected surprises. The best personal loan for you and your individual needs simply cannot be bought ‘off the shelf’. People regularly run into difficulties when their loans are structured one way but their lives are pushing another.

In the three-step process of comparing products to find your best personal loan, the important things to watch for are:
– early payment rules
– lump-sum payment penalties
– upfront charges
– ongoing costs
– fine print in the contract.

When you need more advice, a Rapid Loans consultant will be waiting on the line to talk you through the process.

We will guide you in considering things like the amount you’d like to borrow, the assets you have, the other loans you have and whether you are likely to receive sudden amounts of cash – say end-of-quarter company bonuses or gifts from family. We will then build a loan and loan repayment plan to match your individual circumstances.

What the lowest interest rates hide. Very often, loans providers offering you the lowest interest rates won’t be offering you much of a saving overall.

The savings these providers deliver in low interest rates they make back in higher administration fees, more upfront charges and complicated interest calculations and other penalties in the terms and conditions.

Want to find out more? Someone to answer all your questions is already waiting.

Our personal loans experts want to make sure you get the right answer.

Talk to someone who’ll listen on 1800 332 228, or request a call back.

Or simply apply now.

We Give You A Fair Go

Lacking Good Credit History

Some of us starting out and some of us are starting over. Whatever the case, your credit history might be a little patchy or even non-existent. That’s cool! We’ll give you a leg up or a second chance to get you going.

Discharged From Bankruptcy

Bankruptcy can sometimes feel like the end. At Rapid Loans we treat it as a fresh start. So, whether you’ve been bankrupt in the past or just recently discharged, we’re here to see how we can help you back on your way.

Credit File Defaults

No sweat. Rapid Loans looks at all applications with a fresh eye. We know life happens, so we assess your application as a whole.

How it works

Apply Online

Complete our easy online application form. Don’t worry, we only need the important stuff to get you moving.

Upload Documents

Upload your important docs via our secure online platform. We’ll tell you what you need, and it only takes a few minutes.

We’ll Get In Touch

Your application will be reviewed and one of our friendly loan consultants will be in touch soon!

Receive Funds

If approved, have your funds faster than you can say Rapid Loans! If you applied in the morning, they could hit your account the very same day.

We are here to help you

Frequent Questions

Find the answers you are looking for by browsing through a number of questions we get asked a lot.

What are personal loan interest rates?

Interest Rates: from 15.75%
Comparison Rates: From 22.95%
Establishment Fee: $400 (MACC) and $495 (LACC and car loan)
Monthly Administration Fee: $25 per month (for loans $8,000 or higher)
Dishonour Fee: $28
Early Termination Fee: $0
Minimum Loan Term: 18 Months
Maximum Loan Term: 60 months
Minimum APR: 15.75%
Maximum APR: 22%
Provider Fee: Based on borrower risk profile

Loan Example
A LAAC loan of $31,350 (inclusive of $1,350 broker fee charged only if a broker is involved) borrowed for 4 years with an interest rate of 15.95% per annum, would equate to a total amount payable of $46,084.80 (including an establishment fee of $495, provider fee of $1,300 and monthly administration fees of $25).

Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

How do I apply for a personal loan?

You can apply for a personal loan online through our easy-to-use application form. If you require assistance, you can call our friendly service team on 1300 727 431 to get help with the application process.

What do I need to apply for a personal loan?

Getting your documentation ready to support your application for a loan is not hard but there are three basic things we need to know.

Can I get an unsecured loan?

Rapid Loans do not offer unsecured personal loans. In order to offer better rates and loan terms to our customers, we only provide secured personal loan options.

What can I use as security against the loan?

We can take security in assets you own including vehicles that are registered in your name (cars, caravan, motorcycle etc) as well as properties that do not currently have any other finance owing on them.

Do you offer fixed interest rates?

Yes, personal and car loans from Rapid Loans have a fixed interest rate outlined in your contract. This will vary depending on a number of factors such as borrower profile, loan product and principal amount.

Will funds be available the same day?

We always aim to be as quick as possible with transferring funds to successful applicants. Depending on the time and day of the successful application, the funds may be available in the client’s bank account the same day or the next business day.