Debt Consolidation Loans

Trying to manage multiple repayments? Get back in control with a Latitude Debt Consolidation Loan

Apply in less
than 10 minutes

Why debt consolidation?

One easy-to-manage payment

There's no need to manage multiple credit card balances or loans from multiple providers. One easy-to-manage payment comes straight out of your account.

How the debt consolidation process works

  1. Work out your total debt

    This could include multiple credit cards and loans with other providers.

  2. Apply for a debt consolidation personal loan for this amount

    Our application process is fast and easy, and we're here to help you get through it.

  3. Simple payout process

    If your application is approved, Latitude will pay your credit providers directly so that you don't have to go through the hassle.

  4. Tidy up

    Consider closing off any old accounts (e.g. credit cards) to avoid running up further debt.

  5. Start making one payment

    Pay down your loan one easy-to-manage payment at a time.

Our Latitude Loans

Personal
Loan

A flexible loan, great for travelling, renovating or a wedding

Secured from
12.99
%
p.a.
^
to
24.99
%
p.a.
^
Comparison rate
14.20
%
p.a.
*
to
26.14
%
p.a.
*
Unsecured from
13.99
%
p.a.
^
to
24.99
%
p.a.
^
Comparison rate
15.19
%
p.a.
*
to
26.14
%
p.a.
*
  • Loan amounts from $3,000
  • Loan terms from 1 - 7 years
  • Secured and Unsecured loans
  • Fixed interest rate for the life of the loan
  • Weekly, fortnightly or monthly repayments

Low Rate
Personal Loan

For new Latitude Personal Loan customers borrowing at least $20,000

Fixed Rate
9.99
%
p.a.
^
Comparison rate
11.22
%
p.a.
*
Fixed Rate
10.99
%
p.a.
^
Comparison rate
12.21
%
p.a.
*
  • Loan terms from 1 - 7 years
  • Secured and Unsecured loans
  • Fixed interest rate for the life of the loan
  • Be a homeowner or mortgage owner
  • Have an excellent credit rating
  • Weekly, fortnightly or monthly repayments

Compare our loans

Show me

Frequently asked questions

What can I use my loan for?
  • What is debt consolidation?

    <p>Debt consolidation involves gathering your credit card debts, loans and other liabilities and combining them into one easy to manage personal loan.</p>

  • How could debt consolidation help me?

    <p>Debt consolidation involves gathering your credit card debts, loans and other liabilities and combining them into one easy to manage personal loan.</p>

  • Which of my debts can I consolidate?

    <p> With a Latitude Debt Consolidation Loan you can consolidate your credit cards, store cards, personal loans, car loans or small debts.</p>

  • Can you help me pay off my credit cards?

    <p>Once your loan is approved, we can issue payout payments to credit providers on your behalf. If you&#x2019;re also closing your paid out credit card accounts, we can help you with the paperwork.</p>

Application and approval
  • When will I get a decision on my application?

    <p>In most cases, you can expect to receive a decision on your loan application in 1-2 working days. </p>

  • How long till I receive my funds?

    <p>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).</p>

  • What is the eligibility criteria?

    <strong>Latitude Personal Loan</strong> <p>At a minimum, you will need to:</p> <ul class="styled-list--unordered"> <li>have a regular income,</li> <li>be an Australian Permanent Resident,</li> <li>be at least 18 years of age.</li> </ul> <p>Other credit and approval criteria will apply depending on your situation.</p> <strong>Latitude Low Rate Personal Loan</strong> <p>At a minimum, you will need to:</p> <ul class="styled-list--unordered"> <li>be a homeowner or have a mortgage,</li> <li>borrow a minimum of $20,000,</li> <li>be a new Latitude personal loan customer,</li> <li>have an excellent credit history,</li> <li>have a regular income,</li> <li>be an Australian Permanent Resident</li> <li>be at least 18 years of age.</li> </ul> <p>Other credit and approval criteria will apply depending on your situation. In most cases, you can expect to receive a decision on your loan application in 1-2 working days.</p>

  • Do I need to provide security?

    <p>Whether you need to provide security or not will vary depending on your personal circumstances and the loan amount you have applied for.</p>

Fees, charges and interest
  • Will the interest rate on my loan be fixed or variable?

    <p>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.</p>

  • How is my interest calculated?

    <p>Interest is calculated daily and charged to your account on a monthly basis.</p>

  • Will I be charged a fee for making extra payments?

    <p>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&#xAE;. BPAY and the BPAY logo are registered trademarks of BPAY Pty Ltd 69 079 137 518.</p>

  • How can I avoid paying late fees?

    <ul class="styled-list--unordered"> <li>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.</li> <li>Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made.</li> <li>If your circumstances change which could affect your repayments, call us on <a class="trackcustomanalytics" data-trackid="faq-avoid-paying-late-phone-number" href="tel:1300973422">1300 973 422</a> to discuss your options. </li> <li>You can also make additional repayments so you pay off your loan sooner and save on interest<sup>1</sup>. </li> </ul> <p><sup>1</sup>Early termination fee applies.</p>

Important information

^Approved customers only. Terms, conditions, fees and charges apply for Latitude Low Rate Personal Loan and Latitude Personal Loan. Terms, conditions, fees and charges apply for Latitude Car and Motor Loan. All applications are subject to lending and approval criteria. For the Latitude Low Rate Personal Loan, Excellent Credit Rating is as determined by Equifax.

Loan terms range from 1-7 years.

Latitude Low Rate Secured Personal Loan interest rate is 9.99% with a comparison rate of 11.22% p.a.

Latitude Low Rate Unsecured Personal Loan interest rate is 10.99% p.a. with a comparison rate of 12.21% p.a.

Latitude Personal Loan rates range from 12.99% p.a. to 24.99% p.a. for secured loans (comparison rates 14.20% p.a. to 26.14% p.a.) and 13.99% p.a. to 24.99% p.a. for unsecured loans (comparison rates 15.19% p.a. to 26.14% p.a.).

Latitude New and Used Car 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: An unsecured 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, however if you decide to make early or extra repayments, an early termination fee may apply.