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RateSetter Personal Loan
4.8 from 2,155 reviews

Reviews

(1,862)
(209)
(17)
(20)
(47)
  • Timeliness
    4.7 (397)
  • Loan TypeFixed Rate (241) · Variable Rate (116) · Line of Credit (9) · Split (1)
  • Incentivised Review Yes (2%) · No (98%)
  • Transparency
    4.7 (296)
  • Customer Service
    4.7 (382)
  • Application Process
    4.8 (398)
  • Loan Term3.844 years

Karyn Y.

Karyn Y.Perth, WA

  • Verified customer

Excellent

published

Great service from beginning to end. So quick and easy online process and got approval within an hour.
Wish I had done this sooner. No unexpected extra costs and beat all other loan services i had reviewed. Definitely will recommend.

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

Review collected in partnership with RateSetter


Good service! I recommend!

published

Good service was given to us. Staff guided us well with the process. The responses could be a bit quicker, though they were easy to follow. We didn't have any unexpected extra costs as the staff explained very clearly what we needed. I would recommend this company to others.

sapphire d.

sapphire d.Canberra 2600, ACT

Easy, simple, fast

published

Submitted the loan application in late afternoon, received the approval early the next morning and just awaiting the funds to drop into my account in the next two days. Amazing. Also received a personal contact person in relation to the funds via text message

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

SyedSydney, NSW

  • Verified customer

Very friendly

published

The rate setter team have been excellent. The online process was quite easy and the team I spoke to were all very helpful. I Would recommend to all my friends and family

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

Review collected in partnership with RateSetter


jason35177

jason35177

  • 5 reviews

Great service, no drama

published

A family member recommended ratesetter so I applied for a loan and it was approved within two days. Easy to understand staff, no dramas in any way. Highly recommended if your after a fast service.

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

  • Verified customer

Simple, straight forward, should have done it earlier.

published

Quick, Simple online process, no evasive questions just the required information.
Good rate, Simple terms and conditions that were easy to understand, clear fee structure, entire process should be less than 48 hours from initial application to funding.

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

Review collected in partnership with RateSetter


Sam

SamPerth, WA

  • 2 reviews
  • Verified customer

Fast and impressive

published

The application process was fast and easy to use.
I was kept up to date during each stage and the loan was approved so quickly.
The following the steps online application made the process easy and the communication with staff was very impressive. Thanks I highly recommend RateSetter.

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

Review collected in partnership with RateSetter


Thank you Ratesetter..

published

The experience has been amazing! Well done, my broker can’t speak highly enough of you guys ... All I can say is Goodbye to the big 4 .....Thankyou once again James

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

Beth K.Darling Downs, QLD

  • Verified customer

Easy!!! So happy!!!

published

I am beyond happy with the simplicity of this process!!! I should have the funds within 24hrs of applying! All done online and a very quick turn over.
Thank you!!

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

Review collected in partnership with RateSetter

Great

published

Customer service is good. The loan was easy to do online. It was a quick response. The rate was ok I was hoping for a lower one. Ratesetter made it easy.

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

Cassie

CassieSouth East Queensland, QLD

  • Verified customer

Quick, very easy process

published

Very quick and easy process. Lovely customer service staff if you need to contact and speak to them otherwise it was all pretty much online. Good interest rate. Definitely recommend.

Transparency
Customer Service
Application Process
Timeliness
Loan Start DateJanuary 2020
See all answers

Review collected in partnership with RateSetter


Sam L

Sam L

  • 12 reviews

an alternative to fixed deposit

published

Be Careful

published
Transparency
Customer Service
1 comment
RateSetter
Steph P.RateSetter

David L.

David L.South East Queensland, QLD

  • Verified customer

Fast and simple

published

After submitting my application i was contacted by a representative as there was a problem with proving my id. He was very helpful and after this was fixed up i got a offer within 24 hours at a very good rate.i would recomend this service and am very happy with my loan and the prompt reply and acceptence

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateDecember 2019
See all answers

Review collected in partnership with RateSetter

James

JamesNew South Wales

  • Verified customer

Pretty easy to deal with

published

Did the online app and didn't hear much, then I called, 3 days later, and the staff where very helpful the loan was approved within 2 hrs from the ph call.

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

Review collected in partnership with RateSetter

Gregory

GregorySouth East Queensland, QLD

  • Verified customer

Quick and Easy

published

Everything is online without dealing directly with a person. The rate offered ended up higher than the quoted rate without explanation. If rate is different to qote there should be an explanation.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateDecember 2019
See all answers

Review collected in partnership with RateSetter


  • Verified customer

Quick Response Loan Application

published

All those I spoke to were professional and friendly. Great understanding and ability to quickly process and approve my application. The rate I received was better than what other banks could offer.
Only issue is their inability to process joint applications and my loan term was longer than I wanted. Ultimately good service for a great rate personal loan.

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

Review collected in partnership with RateSetter


Colin

ColinGreater Melbourne (Outer), VIC

  • Verified customer

This is great

published

Very appreciative and very greatful for the fast service and how my application was handled. The convenience of my online application allowed me to do other things that I would not have been able to

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateDecember 2019
See all answers

Review collected in partnership with RateSetter


  • Verified customer

Great service, fast and simple to understand

published

Very happy with the service, easy to deal with and easy to understand. I was surprised at how quickly everything was arranged and to find that there were no hidden costs.

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

Review collected in partnership with RateSetter


Julio M.

Julio M.Sydney, NSW

Top of the top!

published

I am very satisfied with RateSetter. Their customers service is very professional. They keep you updated at every step of the process. No time consuming,really fast. It's very good to know Rate Setter is around. I would recommend it to every one. Go for it if you need it, and need it quickly. Thanks!

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

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Questions & Answers

michael barton

michael bartonasked

i increased my original loan after 6 months of on-time payment history. i tried to increase my loan again a second time after another 6 months of payments but was told i had to wait another 4 months before i was eligible to re-apply? why in the 1st instance i could increase my loan after 6 months of payments yet the 2nd time i have to wait 10 months.?

1 answer
RateSetter
Alexandra S.RateSetter

Hi Michael, thank you for getting in touch. Our eligibility criteria for additional funds requests is based on the existing loan term, as well as repayment history. It looks like the term was increased on your second RateSetter loan, meaning the eligibility requirement was different. Please let us know if you would like to discuss further at contact@ratesetter.com.au


Raza

Razaasked

Can someone with a visa sub-class 485 also apply for a personal loan?

1 answer
RateSetter
Alexandra S.RateSetter

Hi Raza, thank you for getting in touch. While there are some visa class applicants we can consider, unfortunately we are unable to consider an application if you are currently on a visa sub-class 485. I'm sorry that we are unable to assist at this time, but thank you for your interest in RateSetter.
Thank you,
Alex


Ryank

Ryankasked

Do you have to use direct debit is it possible to take it off and just make the payment directly each week

4 answers
RateSetter
Alexandra S.RateSetter

Good morning, at RateSetter we are only able to collect your monthly repayments via direct debit. You are able to make additional payments towards your loan manually if you choose. Any extra payments you make will automatically reduce the term of your loan. This means that your monthly repayments will stay the same but you will pay less interest overall. Additionally, any extra payment will not affect the amount or timing of your regular monthly direct debit payments which still need to be collected as scheduled. If you have any further queries please don't hesitate to get in touch at contact@ratesetter.com.au

Ryank
Ryank

So if I get 6 months in front of my loan and I want to stop payments for a period is that allowed if it's not and another commitment comes up then I'm going to get stuck with fees are ratesetter flexible with the extra money has been paid to them.

RateSetter
Steph P.RateSetter

Hi Ryan,
Regardless of how many extra payments you may make, we will always debit your monthly repayments. We do not offer a redraw facility, so any extra payments are not available to be withdrawn again.
There are no fees for making extra payments or for repaying a loan early.
Thanks
Steph


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