Why choose Latitude for debt consolidation?
Apply for your loan online
Complete your loan application online. It’s that easy!
Tailored to your needs
Our team of specialist consultants will help you choose the loan that’s right for your lifestyle and budget.
Fixed interest rate
Always know where you stand with a fixed interest rate that’ll last for the life of the loan.
Choose from weekly, fortnightly or monthly repayments and make extra payments as and when you can.
Interest rates and fees
*Interest rates range from 12.99% p.a. and 30.99% p.a. for secured loans and from 13.99% p.a. and 34.95% p.a. for unsecured loans, depending on a number of factors, including the information you provide us and our assessment of your application.
Note: An interest rate from 12.99% is only available on secured loans above $10,000.
^The comparison rates range from 14.20% p.a. to 32.13% p.a. for secured loans and from 15.20% p.a. and 36.08% p.a. for unsecured loans. Loans are based on a loan of $30,000 over 5 years.
WARNING: These comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. If approved, we will confirm your actual interest rate in your loan contract.
|Establishment fee||$140 for loans under $4,000
$250 for loans over $4,000
|Loan service fee||$13 per month|
|Payment handling fee for Australia Post & BPAY®||$1.50 per payment|
|Late fee||$35 in the event that you can’t make the minimum repayment by your agreed due date|
|Early termination fee||$150 within the first half of your loan term
$75 within the second half of your loan term
$0 during the last 6 months of your loan term
How it works
Apply for your loan online
Check your eligibility and complete your application in less than 10 minutes.
Get a response
We can give you a response on your application in under 60 seconds.
You’re on your way
Once you’ve provided a few extra documents and are approved, your application’s complete. Settlement will take place and you’ll have the funds.
Cover yourself with loan protection insurance
To be eligible, you must be:
- At least 18 years old
- A permanent resident of Australia
- Earning an annual gross income of more than $24,000 p.a.
- Able to demonstrate a good credit history for the last 5 years
- Free from bankruptcy for the last 7 years
You will need to provide:
- Your Australian driver’s license (if you have one)
- Your current employment details, including two recent pay slips and/or your tax return if you are self-employed
- Details of any amounts owing, including other loans, credit/store cards and overdrafts
- Details of your living expenses, including your rent and/or mortgage payments
Frequently asked questions
Debt consolidation involves gathering your credit card debts, loans and other liabilities and combining them into one easy to manage personal loan.
Rolling your debts into one debt consolidation loan means you'll just have one regular repayment to manage. You’ll be saving yourself a lot of effort and paperwork.
With a Latitude Debt Consolidation Loan you can consolidate your credit cards, store cards, personal loans, car loans or small debts.
Once your loan is approved, we can issue payout payments to credit providers on your behalf. If you’re also closing your paid out credit card accounts, we can help you with the paperwork.
Application and approval
In most cases, you can expect to receive a decision on your loan application in 1-2 working days.
Once your loan is approved and signed, your funds are usually available the next day or no more than two working days (depending on your circumstances).
At a minimum, you will need to have a regular income, be an Australian Permanent Resident and be at least 18 years of age. Other credit and approval criteria will apply depending on your situation. We can usually let you know if your application is successful by the next working day.
Whether you need to provide security or not will vary depending on your personal circumstances and the loan amount you have applied for.
Fees, charges and interest
All our loans feature fixed interest rates, so repayment amounts stay the same throughout the life of the loan. Having this certainty makes budgeting easier and more manageable.
Interest is calculated daily and charged to your account on a monthly basis.
Additional repayments can be made at any time. However if you pay off your loan early, an early termination fee may apply. The amount will depend on how long you have left on your agreed term. Payment handling fees apply for additional repayments made at Australian Post or via BPAY®.BPAY® and the BPAY® logo are registered trademarks of BPAY® pty Limited 69 079 137 518.
- Paying by direct debit saves you time and the hassle of manual repayments, it also helps you to avoid fees from missed or late payments.
- Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made.
- If your circumstances change which could affect your repayments, call us on 1300 973 422 to discuss your options.
- You can also make additional repayments so you pay off your loan sooner and save on interest1.