??!
2 photos
RateSetter Personal Loan
4.7 from 2,300 reviews

Reviews

4.7

2,300 reviews
5
(1,942)
4
(226)
3
(20)
2
(28)
1
(84)
  • Transparency
    4.4 (425)
  • Customer Service
    4.6 (509)
  • Loan TypeFixed Rate (302) · Variable Rate (172) · Line of Credit (11) · Split (1)
  • Application Process
    4.6 (525)
  • Timeliness
    4.6 (520)
  • Loan Term4.159 years (387)
Previous
Next

Reviewer Photos & Videos

  • More
Sam

SamSydney, NSW

Life saver

published

A big thank you, for the excellent customer service, I never thought this will come through so quick, especially this is the first time applying, and I am extremely satisfied,

Transparency
Customer Service
Application Process
Timeliness
Loan TypeLine of Credit
See all answers

The reviewer stated that an incentive was offered for this review

Bernard

BernardSydney Surrounds, NSW

  • Verified customer

Speedy

published

I needed a quick low cost loan and this was process was excellent.
Online application, easy and friendly to use, one follow up call and all was approved.
Have used before and will use again.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateAugust 2020
See all answers

Review collected in partnership with RateSetter

Wonderful - couldn't have done without them

published

Excellent customer service! Legal loan provided at an interest rate that was initially fair but increased every time a transaction was made. Some communication issues and some unreasonable requests that were rectified in the end.

Transparency
Customer Service
Loan TypeVariable Rate
Personal Loans

Find out how RateSetter Personal Loan compares to other Personal Loans

Know better, choose better.

Compare all
Arjav

ArjavPerth, WA

Be careful when U apply car loan

published

My broker applied car loan through them.
I got sanction and email They have lodged settlement .
They asked me to insure car,I did everything what they asked.
At the time of release fund they have cancelled my loan.and didn't give any reason.

1 comment
RateSetter
Alexandra S.RateSetter
Kim

KimSydney Surrounds, NSW

  • Verified customer

Speed of approval is as advertised

published

Speed of approval is great once initial issues were ironed out.
No extra unexpected costs experienced. When bank statements were sent, the team should check it carefully before sending a generic email.
Satisfied with rate as it reflects the risk levels.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateAugust 2020
See all answers

Review collected in partnership with RateSetter

  • Verified customer

Hassle free

published

It was easy to apply and was kept informed throughout process would recommend for anyone looking to get a loan, I will definitely be using ratesetter for my next loan

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
See all answers

Review collected in partnership with RateSetter

Erin

ErinPerth, WA

  • Verified customer

So quick and easy!

published

The process was so straight forward and easy. The whole process took less than 24 hours. Great customer service as well. Would definitely recommend Ratesetter to my friends and family.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
See all answers

Review collected in partnership with RateSetter

Chris

ChrisSydney, NSW

  • Verified customer

Exceeded Expectations

published

Frankly, I did not know what to expect from an internet loan provider. First thing I checked was they had an Australian Financial Services Licence - this means they must also be subject to the Australian Financial Complaints Authority. This is all very important to ensure that everything is done correctly, with proper disclosures and recourse is available to a complaints authority with full power to intervene if anything went wrong. Loved the rate, loved the easy online application (high praise given that I am not from the "internet generation") and was very impressed by the whole process. Would highly recommend RateSetter to others.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
See all answers

Review collected in partnership with RateSetter

  • Verified customer

Very easy quick and great people to talk to

published

I was very impressed by the service and how quick and easy it was applying. I did have concerns providing login details for my bank as part of the application and had to do a further investigation into making sure the site was safe. All up very happy customer

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
See all answers

Review collected in partnership with RateSetter

Personal Loans

Find out how RateSetter Personal Loan compares to other Personal Loans

Know better, choose better.

Compare all
Trevor

TrevorCentral Highlands and Goldfields, VIC

Fantastic

published

Could not be happier. Fast and simple and customer service was great.
Really pleased with the whole process and also the prompt communication from the Ratesetter team who helped me to make this loan process so easy..

Transparency
Customer Service
Application Process
Loan TypeVariable Rate
See all answers
Natasha g

Natasha gGold Coast

  • 3 reviews

So far the experience has been efficient

published

Impressed so far and how efficient and simplified the process to apply. I liked how I could upload the required documents via their portal. Did fixed rate as I didn't want any surprising rate increases. Overall was great. Will definitely use again for more home renovation needs

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
See all answers
  • Verified customer

Great service

published

Quick, easy and good rates. Rate setter have great customer support, quick settlement and excellent rates. No fees for early payouts. This is the second time we have used rate setter and are really happy

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
See all answers

Review collected in partnership with RateSetter

Trent

TrentCanberra 2600, ACT

  • Verified customer

Easy application and quick responses

published

Great follow up and a simple application process would recommend it to anyone. Money was approved super fast and the funds were in my bank as soon as they said

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJuly 2020
See all answers

Review collected in partnership with RateSetter

Rikki

RikkiSouth East Queensland, QLD

Pleasantly surprised

published

Application process was quick and easy yet thorough. Customer support was clear and responded quickly to all questions. Rates were competitive and loan was finalised quickly. Satisfied with overall result.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
See all answers
  • Verified customer

Simple

published

Customer service was great. Customer service responded promptly to all of my queries both phone and email. No hidden fees or costs. Lower rate offered than other lenders I contacted.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
See all answers

Review collected in partnership with RateSetter

Personal Loans

Find out how RateSetter Personal Loan compares to other Personal Loans

Know better, choose better.

Compare all
Laurie

LaurieGreat Southern, WA

  • 2 reviews
  • Verified customer

Great service!

published

Had never dealt with this company before and found it so easy. Very easy to deal with. Had no issues at all. Very smooth process. Quick with paperwork. No trouble with payments. Competitive rates. Would recommend.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateMay 2020
See all answers

Review collected in partnership with RateSetter

James M.

James M.South East Queensland, QLD

be very careful

published

I applied and received a personal loan in January at an interest rate of 8.25% and by the time we got to June the rate was 12.4% and had been rising every month. i had to get a loan to pay off this loan before it became a bigger problem.

Transparency
Customer Service
Application Process
Loan Start DateJanuary 2020
See all answers
1 comment
RateSetter
Alexandra S.RateSetter

Efficiency and speed.

published

.They give a number of options to choose from
. I wasn't expecting to pay broker fee. But all good
. Very competitive. Better than most.
. Daily update on progress of application by broker.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJuly 2020
See all answers
Alison S.

Alison S.Northern Region, NSW

  • Verified customer

Great loan company

published

Easy application, Fast approval, Good communication, Good interest rate, Option to pay extra off loan, would highly recommend for Solar or any other personal loan requirements. Overall happy with Ratesetter

Customer Service
Application Process
Timeliness

Review collected in partnership with RateSetter

Kate

KateMetropolitan Adelaide, SA

  • Verified customer

Attentive Customer Service and Competitive Product

published

Experienced great customer service with RateSetter when applying for my car loan - always someone available to help via email or phone and very quick response times. No hidden or unexpected fees were revealed upon finalising my loan for settlement. Very please with the product so far.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
See all answers

Review collected in partnership with RateSetter

Page 1 of 115

Questions & Answers

Ashley N.

Ashley N.asked

Do you have the fix loan rate instead... Don't mind have a high interest rate but as least I don't have to caught on the surprise month by month for the increase of interest rate.
Look forward for your reply.
Thanks

4 answers
Aimee
Aimee

I chose variable, but my repayment amount didn’t change. It was just the amount of interest that changed. Best to enquire with them directly about the options though.

Ashley N.
Ashley N.

To be honest I would prefer fix rate by the look of all the bad review of variable rate jump month by month...
I am now waiting to be approved and will requested for the fixed rate and interested to see what the rate will be

Leonard C
Leonard C

Best bet go fixed. I was told that variable was the best but clearly not. Goes against industry standards. Stay with the banks or credit unions

Annalisa Dezarnaulds

Annalisa Dezarnauldsasked

Has Rate Setter passed on the reduced interest rates as a result of covid for existing loans/ customers

6 answers
Aleck K.
Aleck K.

Quite opposite in fact - they've increased the interest rate, by more than a half in my case. Look elsewhere :(

RateSetter
Alexandra S.RateSetter

Hi Annalisa, thank you for getting in touch. The interest rate that applies to RateSetter loans is not set by us but is determined by the rates offered by everyday investors who fund loans in our lending markets. While these rates may be influenced by broader economic factors including the RBA cash rate, unlike traditional banks, the rates borrowers pay aren't closely linked to that rate. If you are an existing customer and are having trouble with your repayments we can provide a solution for temporary changes depending on your individual circumstances. Please get in touch at contact@ratesetter.com.au so we can learn more and tailor a solution to suit you
Thank you,
Alex

RateSetter
Alexandra S.RateSetter

Hi Aleck, we have tried to contact you regarding your concerns but haven't heard from you. Can you please get in touch via contact@ratesetter.com.au so that we may assist you further.
Thank you,
Alex

Dean D.

Dean D.asked

Can I get a loan if I’m on disability pension

1 answer
RateSetter
Alexandra S.RateSetter

Hi Dean, thank you for getting in touch. We can consider applications for customers receiving a pension in addition to another form of income. If you need anything further please get in touch at contact@ratesetter.com.au
Thanks,
Alex

Get an answer from our members and RateSetter representatives

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.