Liberty Personal Loans
Compare Liberty personal loans and rates
The table below displays a snapshot of Liberty’s secured personal loan products and rates on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.
What personal loans does Liberty offer?
Liberty offers an unsecured personal loan that has a fixed interest rate. The interest rate on the loan is determined by the individual applicants’s financial circumstances and the risk band Liberty places them in.
The minimum loan amount for a Liberty personal loan is $5,000 while the maximum loan amount is $50,000.
Liberty interest rates are tailored to the individual borrower for a borrowing period of three, five or seven years.
Related article: Secured vs Unsecured Personal Loans – What’s the Difference?
What can you use Liberty’s personal loans for?
A personal loan with Liberty can be used for many important life events, such as:
- Buying a car
- Debt consolidation
- Home renovations
Personal loans are a relatively straightforward way of borrowing money with a structured repayment program. A personal loan with Liberty could give you access to more money to pay for these major life events.
Check the product disclosure statement (PDS) from Liberty to see what you can and can’t take out a personal loan for.
Both the fixed and variable rate personal loan options from Liberty have a loan term between 1 and 7 years depending on the loan amount.
There are a number of fees to be aware of when taking out a personal loan with Liberty:
- Establishment fee – $195
At the time of writing, Liberty has $0 ongoing fees, redraw fees and early termination fees.
See this article for look at the average fees currently charged by personal loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017) to see if Liberty’s fees are more or less what the average customer is paying.
Applying for a Liberty personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with Liberty (or most providers in Australia for that matter), you generally need to meet the following criteria:
- You must be 18 years or old
- You must live in Australia
- You must be an Australian or New Zealand citizen or a non-resident holding a Temporary Residency VISA
- Hold a regular income and good credit rating (see here for more info on how to get a good credit rating)
- Show an ability to afford your loan repayments
- Take out a loan of at least $5,000
If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:
- A current driver’s license
- Details of your current and previous (if applicable) employer
- Details of your income, assets, expenses and liabilities
- Previous tax returns if you are self-employed
You may also require your current account number for Liberty if you’re an existing member.
In addition to personal loans, Liberty also offers a secured car loan. The table below displays a snapshot of Liberty’s car loan products, sorted by Star Rating (highest to lowest). The results shown are based on a 5-year loan for $20,000 in NSW.
Liberty was founded in 1997 to provide flexible finance. So far they have helped over 140,000 customers in Australia and New Zealand.
Liberty offers a Free Property Report for you to find out what housing prices have done in your area over the past year.
They also present the Liberty Barometer, a blog of podcasts and articles about the latest news and tips for “small business, property, and everything in-between”.
How Liberty supports the community
- Liberty Lend-A-Hand: Lend-A-Hand supports community organisations through gift-matching and volunteer time. At the time of writing, Lend-A-Hand supports the Mirabel Foundation for children orphaned or abandoned because of parental drug addiction; the Beacon Foundation, where young people can break free of inter-generational dependency and addictions; and Aardvark, where young people with a disability express themselves through music.