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RateSetter Personal Loan
4.7 from 2,215 reviews

Reviews

(1,898)
(218)
(18)
(22)
(59)
  • Transparency
    4.6 (350)
  • Customer Service
    4.7 (436)
  • Loan TypeFixed Rate (266) · Variable Rate (139) · Line of Credit (9) · Split (1)
  • Application Process
    4.7 (453)
  • Timeliness
    4.7 (452)
  • Loan Term3.968 years (329)

Deceptive, Read latest PDS. Can & Will hold your $$ past term as Investor

published
Transparency
Loan TypeFixed Rate
Margie S.

Margie S.South East Queensland, QLD

  • Verified customer

Rip off lies

published

Fact - advertised rate was 8.7% and I was approved for this rate
Fact - 1st payment rate went up to 8.83%
Fact - 5 months into loan and they just jumped my rate to 13.26% up 4.25%
Fact - Job secure nothing has changed
FACT - they are advertising right now for a low rate from 7%
FACT - they get you in and then up the rate
FACT - fees or cost of set up was not disclosed until the loan was signed and approved
FACT - I would not use them again and DO NOT recommend them at all
FACT - Society One was my normal go to, they take some time but they are good
FACT - ARE NOT ANSWERING THEIR CALLS TO EXISTING CUSTOMERS

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateOctober 2019
See all answers
1 comment
RateSetter
Alexandra S.RateSetter

Review collected in partnership with RateSetter

Christopher

ChristopherGreater Melbourne (Metropolitan), VIC

  • Verified customer

Good Different from the banks!

published

The process was extremely quick, easy, no hassles application.
I got a great rate and reasonable fees.
I will use again for sure and telling everybody looking for a loan about Ratesetter!

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

Review collected in partnership with RateSetter

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SRK

SRKSydney, NSW

  • Verified customer

Many dodgy practices typical of non-major lenders

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateDecember 2019
See all answers
1 comment
RateSetter
Alexandra S.RateSetter

Hi there, thank you for your feedback. I am sorry if you feel you have not had a good experience with RateSetter. We have been in contact with you directly to further clarify and assist with your concerns.
Thank you,
Alex

Sophie

Sophie

  • 2 reviews

Love rate setter!

published

My loan application was quick and easy, money in the account in 24 hours. Have also refinanced throughout the time of the loan without any hassle. The customer service has always been great when I’ve had any questions. Highly recommend. Rate has been always been good, except for some reason it has suddenly jumped up by 4%? But I’m sure there is a reason why, and possibly the flow in effect from the current pandemic. Regardless, I’m confident in RateSetter as a company, and will continue to use them if needed in the future.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers
sleep_deprived

sleep_deprivedGreater Melbourne (Inner), VIC

Up 5% in 3 months, seriously ?

published

As others have mentioned, up up and up the interest rate has gone, from 10% in Nov to 15% in March- 4% jump from Feb. Understand it's variable etc etc, however , ridiculous. When you see the government pushing decrease for small business, cash for the elderly, it's deeply unsatisfying to have your interest rate jump like this. Putting your shareholders above your borrowers constantly will result in no borrowers. Also very inflexible, when i contacted them to advise of an unexpected bill, and to see whether i could stagger the MT payment due over a FT, i was advised that I had to apply for financial hardship..which won't get a decioson for 21 days..seems like unnecessary hoops when I'm attempting to pay as quickly as possible.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateNovember 2019
See all answers
2 comments
RateSetter
Alexandra S.RateSetter
sleep_deprived
sleep_deprived

5% adjustment, is not a small change. I've emailed you

  • Verified customer

RateSetter yeah

published

I loved the fast service with RateSetter. I completed the forms and before I knew it I was confirmed. I would recommend them to anyone looking for a loan Thank you.

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

Review collected in partnership with RateSetter

Yay

YayWestern Australia

The actual product is charming, stay away

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers
1 comment
RateSetter
Alexandra S.RateSetter
Lisa

LisaPerth, WA

  • 2 reviews

A good experience

published

The customer service was surprisingly good. The IVR options were straightforward when calling the call centre, and it was easy to speak to a human. Additionally, the team members I spoke to knew what they were doing and were able go put me on hold whilst they spoke to other teams in order to get the right answer for me - rather than transferring me on.

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

Second time you have been good to me

published

No problem at all very prompt and professional both times I have used the company. I did not experience any extra costs or any other issues. Happy with the rate compared to bank

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

Review collected in partnership with RateSetter

Look somewhere else !

published

Made the mistake of applying with this firm. Everything is not rosy as the reviews suggest. Delay in responding to mails, vague responses if you get any. All in all, avoid like plague.

Got what I wanted at Wisr

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
See all answers
1 comment
RateSetter
Alexandra S.RateSetter
AlanF

AlanFCanberra 2600, ACT

  • 2 reviews

Rate setter interest rate con

published

I reviewed the best loans and based on Canstar I chose ratesetter. I have only made one repayment to date but the interest rate has gone from 6% to 11% in 6 weeks. They are a con, beware of borrowing from them and Canstar you should be ashamed...

Transparency
Loan TypeVariable Rate
Loan Start DateJanuary 2020
1 comment
RateSetter
Alexandra S.RateSetter
  • Verified customer

Very easy fast process. Professional.

published

Fast and efficient. Good online platform to provide everything needed for my loan to be assessed. The interest rates are competitive and the staff courteous. I would recommend to anyone looking for a loan.

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

Review collected in partnership with RateSetter

Deidre

DeidreVictoria

  • 3 reviews
  • Verified customer

Quick and easy.

published

I was pleasantly surprised by the ease of the process. Good rates and let you know the 'ins and outs' of the loan without 'hidden' fees. Although I found them difficult to get hold of on the phone, I did find them very responsive to all emails, and texts. I prefer the email method of communication anyway, so it suited me. Even the car dealership commented on how quickly he had received payment. So, so far, it's been a good experience.

Transparency
Customer Service
Application Process
Timeliness
See all answers

Review collected in partnership with RateSetter

No transparency

published

I put in a car loan application, confident that I would be approved. I earn an excellent wage, have excellent credit, no mortgage or debts. I was knocked back a couple of hours later. When I tried to ask why, I was told they are not allowed to divulge that information. I cannot see any reason to be denied. Now they have all my personal information and I have a lower credit rating. There was no way they could have gone through all of my documents that quickly. Now I'm worried where my personal details might end up. I only applied to RateSetter to avoid the banks and so I can pay the loan off early with no extra fees. Now that I'm reading the reviews, maybe I dodged a bullet

Transparency
1 comment
RateSetter
Alexandra S.RateSetter
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Darryl B

Darryl BPilbara, WA

Amazing and quick with a great rate

published

No hassle, no hidden fees, straight forward easy as! Would highly recommend. The communication was excellent and the conditions of the loan were very easily explained in the contract.
Darryl. B

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

Most Impressed.

published

The whole experience from the start was extremely efficient. There was ample explanations to all facets of the transaction. The speed in which it all happened was excellent. Thanks Rate Setter.

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

Quick and easy

published

I found it a quick and easy process and I like how clear it is how much you have to pay back with all fees and charges included in the rate.

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

Review collected in partnership with RateSetter

  • Verified customer

Stress free and super easy to understand

published

I have researched many online loans offers before and have never been able to secure such informative and precise information about the product on offer.

What I read online, was exactly what I received, no hidden fees, policies or tricks, super fast approval processes.

I was contacted immediately when they needed to advise of an extension to loan period, as I had chosen a lesser time. I was advised I am more than welcome to pay off the loan in my initial loan period and I will not incur early payment fees.

I will definitely share my experiences and recommend RateSetter.

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

Review collected in partnership with RateSetter

Darren

DarrenSydney, NSW

  • 2 reviews

Awesome, fast no fuss experience.

published

Had an awesome experience. Fast no fuss. Able to action my request in less than 24hrs. Low rates a bonus, very Happy customer. Will surly share my experience with others.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
See all answers
Page 1 of 111

Questions & Answers

Denise Duncan

Denise Duncanasked

Can I make a cash payment anywhere?

1 answer
RateSetter
Alexandra S.RateSetter

Hi Denise, we are an online company and are able to accept payments via Bpay and bank transfer. This is the quickest and easiest way to add funds to your loan. You can either log into your RateSetter account to obtain your specific payment details. Alternately you can contact us at contact@ratesetter.com.au and we can provide you with your payment details. Please let us know if you need anything further.

Damien C.

Damien C.asked

Have been approved for a loan and just wondering can I make fortnightly payments

1 answer
RateSetter
Alexandra S.RateSetter

Hi Damien, at RateSetter we are currently only set up to collect loan repayments on a monthly basis.
If your current direct debit date is not convenient, we can change it to a more suitable time, we can also change the account from which the repayments are debited.
We don't have any early repayment fees or penalties, so you can increase your scheduled monthly repayment, make an extra payment, or pay off the loan in full at any time without incurring any additional charges. You can manage this online by logging into your account.
If you have any further queries, please don’t hesitate to contact us at contact@ratesetter.com.au
Thanks,
Alex

Lilly A.

Lilly A.asked

Hello, Is your phone line open on Monday? (public Holiday) I wanted to call you Guys to ask a few questions before I apply. Iv completed my Rate Estimate, I havnt been able to call because of work but Im interested! Thanks

No answers

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