Pay it faster,
save interest

You could save up to $1,000 in interest just by paying an
extra $50 each month.#

#Savings based on a $20,000 loan over five years at 13.99% fixed p.a. (comparison rate 15.19% p.a.). The comparison rate is based on an Unsecured loan of $30,000 over five years. WARNING: The comparison rate is 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. You can make additional payments, however if you decide to make early or extra repayments, an early termination fee may apply.

Here's how much you could save

Compare the total interest saved when you pay it faster on a $20,000 loan over 5 years#

Total costsInterest savingsLoan term
Pay it faster by $50 per month$26,779$1,1374 years 5 months
Pay it faster by $25 per month$27,302$6144 years 8 months
Normal repayment schedule$27,916$05 years

Interest savings and loan term reductions are an estimate only based on the increased monthly payments displayed.

A personal loan that helps you
feel more in control

Pay it faster

Pay your loan down faster and finish
your loan term early – now that’s better.

Our Latitude loans

Personal
Loan

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

Secured from
12.99
%
p.a.
^
to
28.99
%
p.a.
^
Comparison rate
14.20
%
p.a.
*
to
30.13
%
p.a.
*
Unsecured from
13.99
%
p.a.
^
to
29.99
%
p.a.
^
Comparison rate
15.19
%
p.a.
*
to
31.13
%
p.a.
*
  • Loan amounts from $3,000
  • Loan terms from 2 - 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 (Secured & Unsecured)
10.99
%
p.a.
^
Comparison rate
12.21
%
p.a.
*
  • Loan terms from 2 - 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

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Have a personal loan with us?

You can pay faster too.Simply give us a call on 13 28 26 to find out more.

Frequently Asked Questions

Would I be locked into paying more each month?

Absolutely not. You can revert to your minimum repayment at any time.

What if I only want to pay extra occasionally?

At Latitude, we offer a range of flexible payment options. So, if you'd like to pick and choose when you pay extra, you can do so by using BPAY or Australia Post. Call us on 13 28 26 to find out more. Please note, using BPAY or Australia Post does include a payment handling fee of $1.50.

What if I repay my loan super fast?

That's ok too, but just be aware that if you pay off your loan before you're halfway through your original term, you will be charged an early termination fee of $300. Call us on 13 28 26 to find out more.

Can I do this with my car loan?

Unfortunately, not. Our pay it faster option only applies to Latitude Personal Loans.

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.

Latitude Low Rate Personal Loan interest rate is 10.99% p.a. with a comparison rate of 12.21% p.a. and is available as a secured or unsecured loan.

Latitude Personal Loan rates range from 12.99% p.a. to 28.99% p.a. for secured loans (comparison rates 14.20% p.a. to 30.13% p.a.) and 13.99% p.a. to 29.99% p.a. for unsecured loans (comparison rates 15.19% p.a. to 31.13% p.a.).

Latitude Car and Motor Loan rates range from 6.99% p.a. to 14.99% p.a. (comparison rates 8.10% p.a. to 16.06% 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 the minimum 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.