Ratesetter has rebranded to Plenti as of August 10th, 2020.
Great service, makes life a little easier.
Very easy to deal with. Online service is great. Everything explained easily and questions answered promptly. Very good interest rate for the Green loan we applied for . Overall we are extremely happy with the professional service we received.
Simple, quick and easy to deal with
Initial application was automatically declined but quickly accepted after a phone call. Automated system could be better on that part. Other than that very quick and easy.
Used them for an interest free loan via the NSW government for a solar battery (empowering homes program).
Terrible. I am being charged interest for something that doesn’t work.
I wanted to accept the loan contract subject to a successful installation. They still haven’t completed the installation and I am being charged interest. I was unable to make an amendment to the online agreement. They did not accept my email sent moments after accepting the loan contract. Really dissapointing customer service. Worse thing is that Plenti has been sitting on this matter for over a week and have made no effort to fix this. Appalling service!
Service was quick, easy and polite, rates were fine and expected. There was good follow up to see that we were happy with our purchase. They weren't pushy and there were no hidden surprises.
Review of Plenti
The process of obtaining finance was fast and efficient. I received a good amount of information about the process. Also, frequent updates were given as to the status of the loan.
The demand for an Electrical Bill was ridiculous
So I had just moved, I had to wait 3 months till my Electricity company sent out a bill. Why not verify the address using the supplied Bank Statement with the current address on it!!!!! OR why not verify the address using the customer-supplied Title Search of the property I just purchased!!!!! Next time I am just going to refinance my home loan to get the funds I need.... Why did Plenti make me wait 3 months?
Overall a great product
The Plenti Green Loan for Solar Panels is an excellent option however the application process needs improving. The fact that it can only be applied for in one name (for couples) and therefore only accepts one individuals income and, if rejected, needs an entirely new email address to restart the process.
Plus - in this day and age, Direct Debit repayments need to be able to be made weekly or fortnightly NOT just monthly.
I was putting on Solar panels through Quantum Solar ( who get loans on behalf of their customer ). I was shocked to find out my loan application was rejected by Plenti. Plenti would not say why ( company policy ). So I enquired through credit agencies as to my credit rating to find (after paying a fee ) all was good. So I went back to Quantum to find out why. They advised Plenti did not believe I could afford the loan, On further inquiries I hear Plenti did not know I had SMSF ( even though I supplied 3 months of bank statements ) and this is why I was rejected. All has been fixed now BUT has this damaged my credit rating?
Watch for hidden fees
I received the paperwork for this loan and spent the next week trying to work out the difference between the amount being borrowed and the total loan repayments ($218 per month for 36 months with 3%pa on a loan for $6730). There was a substantial difference. I was almost about to tick the final box to get the loan when I was able to open the full product disclosure statement and there it was - $600 in previously hidden fees. Needless to say, I cancelled the loan and payed out of my mortgage instead.
Application was quick to complete and approved within a few days. The whole process was very easy. My low fixed rate was one of the reasons I went with Plenti
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