Revolut Personal Loan
UnsecuredFixed rate
A fixed-rate unsecured personal loan for Australian residents.
6.99%
interest rate a year, from
–
comparison rate, from
- Establishment fee
- Not published
- Monthly fee
- Not published
- Borrow
- $5,000 to $50,000
What it would cost
At the lowest published rate of 6.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.
- Monthly repayment
- $617
- Total repayments
- $22,228
- Interest and monthly fees
- $2,228
Loan details
Rates
- Interest rate (a year)
- 6.99%
- Comparison rate (a year)
- Not published
- Rate type
- Fixed
- Security
- Unsecured
Limits and fees
- Loan amount
- $5,000 to $50,000
- Loan term
- Up to 5 years
- Establishment fee
- Not published
- Monthly fee
- Not published
How it compares
Against the other unsecured personal loans we compare. Typical means the middle half of them.
Cost of $20,000 over 5 years
$3,756
Interest and fees at its starting rate. Typical is $5,455.
Most you can borrow
$50,000
Typically you can borrow up to $50,000.
Longest term
5 years
7 years is the usual longest term.
Pros and cons
Pros
- One rate for everyone. Everyone approved gets 6.99%, so the rate you see is the rate you get.
- A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
- No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
Cons
Nothing stands out.