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RateSetter

RateSetter (page 2 of 92)

4.8 from 1,835 reviews

Excellent quality of service

RateSetter truly extended to us true sense of compassion and understanding of our predicaments. Their invaluable help and professional assistance have turned our long dream of having a solar system installed in our place. The conditions and terms are straight forward and easy to understand. Response is very quick and hassle free. It is indeed a pleasure to avail of their services. Highly recommended.

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2019

Loan interest rate went up more than 1.5% after only 3 weeks. How to justify that.

Ludicrous rate increase. Needs to be realistic not 1.5% after only a few weeks. Banks increase by 0.25% and people complaining about that how then if 6 times that amount

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2019
2 comments
Hi Roger, I'm sorry if you feel that you have had a bad experience when taking out a loan with RateSetter. With our variable rate loans, the interest rate can change every month depending on any changes in our lending markets, however this only has an impact on your final repayment and typically we have found that this does not alter much over the term of the loan. You can see an estimate of your final repayment via your RateSetter account at any time. If you have any queries or want to discuss this further please contact our customer service team on 1300 768 710. Thanks, Taylor Customer ServiceI have just spoken to their customer service department who advised as this is a variable rate loan there is no cap on the interest rate they can charge. They can suck you in to the loan offerring very low interest rates but do not have to honour those rates. The interest rate will change (generally increase) every month so you could end up with a loan that finishes at an interest rate ten times that which was offerred to you. BE VERY WARY.............. Get a fixed rate personal loan through a bigger lender would be my advice.

Excellent Service

Lending process went thru smoothly. Receptive and friendly staff. Great communication from day one to the end, especially during the review process.
Upfront with fees and costs and no surprises.

Loan TypeFixed Rate

Great service

Very easy online process to apply and provide info for the application. Very reasonable costs and advised up front. Great site to manage the loan and my repayments. Thank you.

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2018

Fast and Easy

The process to check your lending limit and rate was straightforward & simple, with a fast turn-around for loan processing. Great communication updates from friendly staff by email and text. Area for improvement from the credit team's verbal communication to provide more context to questions asked.

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate

Interest rate, fees and monthly repayment may change without notice.

* Please note your RateEstimate is an estimate only, based on the initial details you have provided. Following a full application your interest rate, fees and monthly repayment may change without notice.

Please read above sentence before proceeding ahead with your application. It is never gonna be the same interest rate which will be only higher and not any lower

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
2 comments
Hi Sri, I'm sorry if you feel that the fees changed drastically during the loan application process. All of our fees are displayed online when you initially complete the RateEstimate online, if you do submit an application online we will then complete a hard credit check to get a better understanding of your financial situation. Depending on your circumstances this may have had an impact on your fees. All of the applicable fees are displayed on your loan contract before you accept your loan as we do want to make sure that people are aware of all of the fees before they accept the loan. If you have any queries or want to discuss this further please contact our customer service team on 1300 768 710. Thanks Taylor Customer ServiceI got approval but I didn’t accept the loan. I got an email today saying below Please do contact us when you are next seeking finance. Kind regards, The RateSetter team Who will contact an unscrupulous company like Rate setter for loan again?

Great and Easy!

Very easy to deal with and quick too , especially as the loan I required was somewhat time sensitive. Rate is not too bad either. Would use again. Thank you very much !!

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2019

Really easy process

Thanks RateSetter crew - you made what is normally a pretty painful exercise painless! Good, responsive communication, real people who understand the Australian context and good systems. Very happy with my Solar Wholesalers Sonnen battery and very grateful for the service from RateSetter to make it happen.

Customer Service
Application Process

Simple fast efficient

Excellent to deal with. No waffle like the big banks. Fast approval in literally 24 hours.Great communication throughout and an easy to follow application process. Great interest rates. Highly recommended.

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate

Monthly repayments only ? $$$$ grab

It’s 2019 what company only offers monthly repayments ? A company that doesn’t care about its customers and only wants the higher repayments , this prevents you making the minimal interest payments and puts more money in their pockets .... terrible service

Customer Service
Loan TypeFixed Rate

great communication, kept informed every step of the process

Easy to use application and very friendly helpful staff, very smooth from start to finish. Thank you to the team at rate setter for your help. Everything was approved in less than 24 hours. Very reasonable interest rates and repayments very manageable.

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2019

Quick & easy process

Easy online application, great customer service team over the phone, with a quick & easy no fuss approach to money lending! I also applied to one of the big 4 banks who I have banked with for over 15years and felt the experience time consuming & exhausting. Definitely recommend ratesetter

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2019

So quick and hassle free

Firstly loved speaking with a ratesetter staff member was was clear and concise. It was so hassle free easy steps and all handle by ratesetter and so quick. I also chose another bank and it took longer and wanted so much more info. I have already recommended them to my friends

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate

Excellent service and product

RateSetter offer an excellent Green finance option - highly recommended for affordability and ease of process. The staff were helpful and responsive. The product suited my needs and the rate was very competitive for the amount I needed to borrow.

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate

Coupled with my credit rating made the loan application process very easy.

The customer response times were amazing and the assessment and approval response was completed within a twenty four hour period. I have never experienced borrowing that amount with so little red tape, obviously the very good credit rating simplified the process?

Application Process
Timeliness
Loan TypeFixed Rate

Easy to complete and well explained

The support and guidance was appreciated. Never any pressure but the people I dealt with were helpful.
Overall I was pretty happy with the service provided by Ratesetter.
Would definitely use them again

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2019

Smoothest, fastest loan application EVER

Great experience! Service came from an Australian voice who was professional and helpful. There was a small glitch in the ID process, but from there, it went very quickly. From ID to approval was a total of 24 hours. Contract was written in easily understandable language too, so very pleased with the whole process. And the rate was excellent. If I need to borrow again, I'd definitely use RateSetter again.

Customer Service
Application Process
Timeliness
Loan TypeFixed Rate

going on holidays, bit short of cash

Easy to contact. Loan assessed and approved in under five days. So much easier that through my own bank, better service and better feedback, much faster and more efficient. Am able to repay early with no fee.

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate

This is perfect .

I am very satisfied with the service, can not fault the service in any way, excellent.
We did not have any unexpected charges or costs.
Will definitely recommend to my family and friends

Application Process
Timeliness
Loan TypeFixed Rate

A great product

A really easy loan to access online with a great interest rate. It’s great that there is opportunity to pay extra no penalty for paying the loan out early. Thanks

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2019

Page 2 of 92

Questions & Answers

I have made additional payments to my 5 year loan, I've almost paid it off within two years, however, I now need a new loan. I dislike having too many enquiries on my credit file, which is the best way to go about this, can I withdraw my extra payments without incurring any fees and will there be an enquiry on my credit file to withdraw the extra payments I've made, I will still repay the full amount within the 5 year term?
1 answer
Hi, We do not offer a redraw facility on our loans, however you may have the ability to apply for additional funds either by refinancing your existing loan or applying for a second loan. To be eligible for additional funds you do need to have made a certain number of successful payments. As I am unable to identify you I do not know if you have met this criteria. However please be aware that applying for either a refinance or a second loan is considered as a new application for finance and would have an impact on your credit file. if you have any further queries please contact us, we're happy to help. Steph Customer Service Manager

I can,t log into my account. It won,t let me reset the email or password
2 answers
If you call the call centre, they should be able to help youHi Maria, I'm sorry that you are having problems accessing your account. I have organised for a member of the team to contact you to try and resolve the issue. Thanks Steph

I’m preparing documents to apply for a loan with Ratesetter, how many months Bank statements are required ?
2 answers
3 monthsGood morning, If you are applying for a loan with us we do require your last 3 months bank statements for your main bank account where your salary is credited. If you use multiple bank accounts for your general living expenses we may also require those as well. Also if you are self-employed we would require your tax documents. If you have any further queries please contact us on 1300 768 710. Thanks Steph

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