Personal Loans

1. Get your rate estimate  - Answer 10 quick questions to see your personalised interest rate estimate in as little as 60 seconds, without impacting your credit score.
2. Submit your application - This can be done in as little as 10 minutes. Once we have received all relevant documents, you could be approved in as quickly as 1 business day. If needed, we'll contact you for further information.
3. Get your funds - Once approved and accepted, you can receive your funds in as little as 24 hours.             

To qualify for a Plenti personal loan, you must meet the following criteria:

• Age: 18 years or older
• Citizenship: Australian citizen or permanent resident
• Income: earn over $25,000 annually from a verifiable, regular income source
• Credit history: maintain a good credit history

When applying for a Plenti personal loan, you'll typically need the following documents:

1. Proof of Identification: An Australian driver's license or passport
   
2. Income Verification: Bank statements, or tax returns to demonstrate your income if you are self-employed.
   

When you apply for a Plenti Personal Loan you’ll get a personalised interest rate based on your credit history. If you have demonstrated good credit behaviour you may be offered a lower interest rate. On the other hand, if your credit history isn’t very good, you may be offered a higher interest rate. 

A comparison rate is a tool to help you understand the true cost of a personal loan. This rate allows you to better compare the price of different loan providers by factoring in some of the fees and charges (such as application or establishment fee, or monthly servicing or account keeping fee) that are included in their loan. Some loan providers have fees for establishing the loan. 

A comparison rate on a personal loan may be calculated on a $30,000 loan amount over 60 months. This includes the interest rate and some fees (such as  establishment fees and monthly fees). 

While the comparison rate covers some fees and charges, some are not included, for example:

• Government Stamp Duty and On-Road Costs
• Late Payment Fees
• Break Costs or Early Termination Fees
• Cost savings such as fee waivers or the availability of interest offset arrangements which can influence the cost of a loan

Your interest rate may vary depending on the type of loan you apply for. Our Fixed personal loans feature fixed interest rates, so the repayment amount stays the same throughout the life of the loan. These loans can have terms of 3-7 years. On the other hand, variable rate loans have terms of 1-2 years, but your rate could change during the term of your loan.

Interest accumulates daily on the outstanding balance of your loan account at the annual percentage rate.