What might my repayments be?

Loan Term

Repayments shown here are calculated on the Liberty Personal Best Loan rate. Please note that your repayment and rate may differ based on your circumstances and the loan product applicable to you. Our full range of products and rates are set out below.

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Personal loans that give you financial freedom

Applying for an unsecured personal loan from Liberty could see you have your money in around 60 minutes of approval!^ Liberty personal loans range from $5,000 to $50,000, and give you the financial freedom to withdraw as much or as little as you need - when you need it. Because you only pay interest on the money you use, getting a Liberty unsecured personal loan is a smart choice.

Apply online for either a Personal Best or Personal Choice loan and find out in minutes if you are approved.

What’s the difference between a secured and unsecured personal loan?

Many loans are used to purchase some form of collateral or asset, which has a value and this is what is often used as the security for the loan. In the situation where the borrower is later unable to continue to make payments on the loan, the asset being used as security may be sold so proceeds can reduce the outstanding loan balance. However, with personal loans, quite often these aren’t used to buy a physical asset – instead they’re used to help pay for events such as weddings or holidays – so the loan is unsecured. Given their nature, most personal loans are unsecured which gives you the choice to spend the money on whatever worthwhile personal purpose you like.

Will my financial circumstance impact my chances of being approved for a personal loan?

Traditional banks can take a rigid approach when it comes to assessing a borrower’s ability to service a loan. At Liberty, we think differently. A default or bad credit listing can stay on your credit file for five years, but this doesn’t mean you can’t necessarily borrow money. Our Personal Choice product is designed specifically for borrowers that don’t fit all the requirements of traditional lenders.

Can I refinance credit card balances into a personal loan?

Yes you can. In fact, refinancing credit debt into a personal loan is becoming a very popular option for many people. Interest rates on credit cards can be crippling, making it difficult for borrowers to get out of debt. As they’re not repaid over a fixed term, this debt can continue to roll over year-to-year. With a credit card, the only requirement is that you meet the minimum repayments each month but doing so can result in you paying exorbitant interest charges over many years.

A personal loan from Liberty, which is agreed over a fixed term with a clear start and end date, could help you reduce these costs.

*Comparison rate is based on an unsecured $30,000 loan over a 5-year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

**Liberty Personal Choice interest rates will range from 10.99% p.a. to 24.99% p.a. and will depend on our assessment criteria and comparison rates range from 11.27% p.a. to 25.31% p.a. Comparison rate is based on an unsecured $30,000 loan over a 5-year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^Approved applicants only. Lending criteria applies. Once approved and you accept the loan terms and conditions, funds are electronically transferred to your nominated bank account. Access to your money is subject to your bank and may take longer than 60 minutes (within minutes if you bank with Commbank). Scheduled repayments are required with interest calculated on the outstanding balance. Fees and charges are payable. All rights reserved | Liberty Financial Pty Ltd | ABN 55 077 248 983 | Australian Credit Licence 286596 | Liberty Network Services Pty Ltd | ABN 65 151 158 628 | Australian Credit Licence 408042