Better Start
Personal Loan

No repayments and no interest for the first 3 months on debt consolidation loans of $20,000 or more.

How a Better Start Personal Loan works

This graphic shows you how a Better Start personal loan would work over an example loan term.

  1. Loan
  2. Up to month 3
    No repayments. No interest.
  3. 3rd
    After 3rd month repayments and interest begin
  4. Year
  5. Year
  6. Year
  7. Loan term extends by 3 months
  8. Loan

Get A Better Start

We want to help you take a break from your debts. For the first 3 months of your loan – no interest, no repayments. A chance to get on top of your finances.

But hey – if you choose to get ahead early, you can start paying down your loan within that 3-month period - without having to pay any interest.This will reduce the amount of interest you pay overall. Now that’s what we like!

Our Better Start Personal Loan is for new personal loan customers borrowing $20K or more to consolidate debts.


Fixed Rate
Comparison Rate
Fixed Rate
Comparison Rate

Fees & charges

Establishment Fee$250 for loans of $20,000 or more

Loan Service Fee$13 per month
Australia Post Payment Handling Fee$1.50
BPAY® Payment Handling Fee$1.50

Late Payment Fee:$35 In the event that you can’t make the minimum repayment by your agreed due date

Early Termination Fee:$300 within the first half of your loan term (inclusive of the 3 months no payment period)
$0 within the second half of your loan term

Calculate your repayments


Interest rate p.a.^




Comparison rate p.a.*




After your 3 month no payment period, your estimated monthly repayment, including establishment & monthly fees is:


Total interest paid


Total amount paid


Interest saved


Time saved

0 mths, 0 yrs
0 months, 0 years

This calculator is provided for illustrative purposes only and does not constitute a quote or pre-qualification. The interest rate you may be offered can differ from the interest rate displayed above and will be based on your personal circumstances. The total amount paid includes establishment and monthly fees. The interest saved and time saved is an estimate only and is based on paying the extra monthly amount for the full term. See all Fees & chargesFees & charges for this product.

How the debt consolidation
process works

  1. Let’s work out your debt
    This could include multiple credit cards and loans with other providers.
  2. Let’s apply
    Our application process is fast and easy, and you can start right here Let's Go!
  3. Let’s handle your payments directly
    If approved, we get rid of the hassle and do all the hard work for you by:
    • Organising the consolidation of your debts
    • Paying your nominated credit providers directly
    • Closing off your nominated old accounts to avoid further debt
  4. Start making just one payment for all your debts
    Latitude will do all the organising to consolidate your debts, so you can breathe easier, take a break, and take control. All you need to do is pay down your loan, one easy-to-manage payment at a time. Now that’s better.

Let’s talk loan details

Fixed rateFor the life of the loan
Loan amountsFrom $20,000
RepaymentsDirect debit either weekly, fortnightly or monthly
WhenChoose the day of the week your repayments are deducted
Loan terms1 - 7 years, plus 3 months
Loan typesSecured and unsecured
Other benefitsExtra repayments accepted1

How to apply

  1. Apply online and receive a response in 60 seconds.
  2. Provide required documents, such as your payslips and identification documents.
  3. Accept and return your loan contract online.
  4. Obtain funds within 24-48 hours of us receiving your online acceptance.


You must:
  • Be a new Latitude Personal Loan customer
  • Be borrowing at least $20,000 for debt consolidation
  • Be 18 years or over
  • Be a permanent Australian resident
  • Be currently employed
  • Be able to demonstrate a good credit history for the last 5 years
  • Be free from bankruptcy for the last 7 years
For secured loans at 6.99% p.a.^ and unsecured loans at 7.99% p.a.^ you must also:
  • Have an excellent credit rating
  • Be a homeowner or mortgage holder

Better Start FAQs

Application and fees
  • I’m keen. How do I apply?

    To be eligible for a Better Start loan, you need to: <ul><li>Be a new Latitude Personal Loan customer and</li><li>Apply for a minimum of $20k for the purpose of Debt Consolidation</li></ul></br><a target='_blank' href=''>Apply online</a> and receive a response in 60 seconds.

  • I don’t need to consolidate debt. Can I use the Better Start offer for something else?

    The offer is currently only eligible to new Personal Loan Debt Consolidation customers. If you are interested in a Personal Loan for other reasons, visit our <a target='_blank' href='/loans/personal-loan/'>Personal Loans</a> page

  • Will I be charged any fees in the first 3 months?

    No repayments are required within the first 3 months and no interest will be charged. If you choose to make additional payments with either BPAY<sup>&reg;</sup> or Australia Post, a payment handling fee applies. Should you decide to pay your loan out in full, within the first half of your loan term, an early termination fee will apply.

  • What’s the fine print on repayments? When do they start?

    You don’t need to pay any repayments or interest in the first 3 months. The first repayment is due and interest will be applied after the 3 month no payment period. And don’t worry - you will receive reminders via email and SMS when your first payment is due.

  • Can I choose to start making repayments in the first 3 months?

    Yes. You may make payments within the first 3 months if you choose. This will reduce the amount of interest you pay overall

  • What if I pay my Better Start loan back early?

    An early termination fee may apply if you pay your loan out early: <ul><li>$300 within the first half of your loan term (inclusive of the 3 months no payment period)</li><li>$0 within the second half of your loan term</li></ul>

Other details
  • Is a Better Start Loan term longer than a standard loan term?

    Yes. Your loan term will be extended by an extra 3 months - this is due to the 3 month no repayment and no interest period.

  • How can I manage my loan?

    <ul><li>The <a href="" target="_blank">Latitude Mobile App.</a></li><li>We send statements every 6 months</li><li>Contact our call centre on <a href="tel:132826">13 28 26</a> </li></ul>

Important information

^ Approved customers only. Terms, conditions, fees and charges apply for Latitude Personal Loan. Terms, conditions, fees and charges apply for Latitude Car and Motor Loan. All applications are subject to lending and approval criteria.

Excellent Credit Rating is as determined by Equifax.

Loan terms range from 1-7 years.

For Better Start Personal Loans the loan term is extended by an additional 3 months which represents the 3 month no interest and no repayment period.

Better Start Personal Loan is a promotional offer that ends 29/03/2020

Latitude Personal Loan rates range from 6.99% p.a. to 18.99% p.a. for secured loans (comparison rates 8.25% p.a. to 20.16% p.a.) and 7.99% p.a. to 19.99% p.a. for unsecured loans (comparison rates 9.24% p.a. to 21.16% p.a.).

Latitude New and Used Car (Including Boat, Caravan, Motorbike and Commercial Vehicle) Loan rates are 6.99% p.a. and 9.99% p.a. (comparison rates 8.10% p.a. and 11.08% p.a.) and is available as a secured loan.

* The Comparison rate for the above products are based on $30,000 over 5 years.

WARNING: These comparison rates apply only to the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

EXAMPLE: A personal loan of $30,000 borrowed for 5 years with an interest rate of 10.99% p.a. (12.21% p.a. comparison rate), would equate to a total amount payable of $40,233 (including a $250 establishment fee and $13 monthly loan servicing fees).

Results from the calculators should be used as an indication only, and they do not represent either a quote or pre-qualification or approval for a loan. The calculator should only be used as a guide to see how loan repayments can vary when you change the loan amount, interest rate and loan term. Fees and charges are payable and the calculators do not take these into account.

1 You can make additional payments at any time, however an early termination fee may apply if the loan is repaid within the first half of your loan term.