Liberty Secured personal loan

SecuredFixed rate

Fixed repayments at a rate tailored to you

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 6.20%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

Against the other secured personal loans we compare. Typical means the middle half of them.

Comparison rate

6.63%

From 6.63%. A typical loan starts at 8.63%.

Cost of $20,000 over 5 years

$3,311

Interest and fees at its starting rate. Typical is $4,624.

Monthly fee

None

A typical monthly fee is $8.

Most you can borrow

$80,000

Typically you can borrow up to $100,000.

A lower starting rate. Its comparison rate starts at 6.63%, below the typical 8.63%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
One rate for everyone. Everyone approved gets 6.20%, so the rate you see is the rate you get.
No monthly fee. The cost doesn't creep up the longer you take to repay.
A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.

A lower limit. Up to $80,000, less than the typical $100,000, so it may not cover a larger purchase.
Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
A $25 late payment fee. Setting up automatic repayments avoids it.

Secured loans from other lenders that start at a similar comparison rate.