Finty
SocietyOne

SocietyOne Unsecured Personal Loan (Direct)

UnsecuredFixed rate

Unsecured fixed-rate personal loan from $5,000 to $70,000 over terms of 2, 3, 5 or 7 years, applied for directly with SocietyOne. Rates are personalised to your Equifax OneScore credit band and chosen loan term, determined at application time via SocietyOne's credit assessment.

Written byDavid Boyd
Interest rate a year, from
7.99%
Comparison rate, from
25.88%
Establishment fee
$595
Monthly fee
Not published
Borrow
$5,000 to $70,000

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 7.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$627
Total repayments
$22,559
Interest
$2,559

Loan details

Rates

Interest rate (a year)
7.99%–24.89%
Comparison rate (a year)
25.88%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
$5,000 to $70,000
Loan term
2 years to 7 years
Establishment fee
$595
Monthly fee
Not published

How it compares

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

Comparison rate

25.88%

From 25.88%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$4,921

Interest and fees at its starting rate. Typical is $5,455.

Setup fee

$595

A typical setup fee is $213.

Most you can borrow

$70,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • 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

  • A higher starting rate. Its comparison rate starts at 25.88%, above the typical 10.56%, so it's likely to cost more than most similar loans unless you're offered less.
  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.99% to 24.89%, and only some people get the starting rate.
  • A higher setup fee. $595, above the typical $213. It's usually added to the loan, so you pay interest on it too.
  • A $35 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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