Finty
Qudos Bank

Qudos Bank Personal Loan

Variable rate

With a great rate and no account keeping fees on our personal loan product, get what you want now, and feel great knowing you're getting a great deal.

Written byDavid Boyd
Interest rate a year, from
9.49%
Comparison rate, from
10.53%
Establishment fee
$150
Monthly fee
None
Borrow
$5,000 to $25,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 9.49%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$641
Total repayments
$23,060
Interest
$3,060

Loan details

Rates

Interest rate (a year)
9.49%
Comparison rate (a year)
10.53%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
$5,000 to $25,000
Loan term
1 year to 7 years
Establishment fee
$150
Monthly fee
None

How it compares

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

Comparison rate

10.53%

From 10.53%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$5,346

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$150

A typical setup fee is $150.

Monthly fee

None

A typical monthly fee is $8.

Most you can borrow

$25,000

Typically you can borrow up to $60,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 9.49%, 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.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.

Cons

  • A lower limit. Up to $25,000, less than the typical $60,000, so it may not cover a larger purchase.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar loans

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