Wisr personal loan interest rates & review

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Wisr is a provider of financial products and services in Australia, including personal loans and credit score services.

Below we round up the personal loans Wisr offers its customers.

What personal loans does Wisr offer?

Wisr offers a single personal loan product with secured and unsecured options available for a variety of purposes. To find out about how these loan types differ, you can read our explainer on secured versus unsecured loans.
The following table displays a selection of Wisr’s unsecured personal loan products on Canstar’s database, sorted by Star Rating (highest to lowest). The results and Star Ratings shown are based on a $20,000 loan for three years, taken out in NSW. Click here to compare more personal loans tailored to your preferences. Before committing to a personal loan product, check upfront with Wisr to confirm what the rates and fees will be for your personal circumstances, and whether the product suits your needs. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD.

Here’s a summary of the some of the other features, fees and rates that apply to Wisr’s personal loans at the time of writing:

Fees include:

Annual fee: $0
One-off Establishment Fee: $595
Late Payment Fee: $25
Payment Dishonour Fee $2.75

Loan amounts available: $5,000 – $64,000

Features:

Monthly, fortnightly or weekly repayments
Early repayment allowed without penalty or charges
A ‘roundup’ app that helps customers pay off their debt sooner by rounding up the value of transactions a customer makes using their nominated bank account an putting the difference towards paying down the loan.

It’s important to note that other terms, conditions, fees and eligibility criteria may apply to Wisr personal loans so if you are considering taking out a loan, it’s important to read the target market determination (TMD) and other key documents carefully to ensure that the product is suitable for you.

Compare Personal Loans

Wisr personal loan FAQs

What can you use Wisr’s personal loans for?

Wisr states its personal loans can be used for “any worthwhile purpose”, however it does note that some loan purposes may require security.

Some of the purposes Wisr says its personal loans could potentially be used for are:

debt consolidation
home renovations
solar panels
energy-efficient lighting
air source heat pumps
solar hot water systems

Read the product disclosure statement (PDS) from Wisr to see what you can and can’t take out a personal loan for.

What are the loan terms on Wisr’s personal loans?

Wisr offers customers the choice of a three, five or seven-year loan term.

What are the fees on Wisr’s personal loans?

At the time of writing, Wisr charges a $595 establishment fee, as well as a $25 late payment fee, and a $2.75 payment dishonour fee. Wisr does not charge annual or administration fees, or fees for making early repayments.

You can view the fees charged on other personal loan products in our personal loan comparison tables.

Compare Personal Loans

How to apply for a Wisr personal loan?

Before getting started, you might first like to use Canstar’s personal loans comparison tables to see how Wisr’s personal loans stack up against other providers before choosing a product that suits your needs.

If you decide to go with Wisr, you can apply for one of its personal loans on its website. You will need to complete an initial quote form before being able to apply for a loan proper.

Wisr says that in order to be eligible for one of its loans you must:

Have a gross income of more than $25,000 p.a.
Be older than 18 years of age
Have no unpaid defaults from the last five years
Have no bankruptcies in the last seven years
Not be currently in financial hardship
Be a permanent Australian resident currently residing in Australia

Other terms and conditions could apply.

Wisr is an ASX-listed financial services company that offers personal and car loans, as well as calculating credit scores and other financial solutions to Australian consumers. It was originally set up as a peer-to-peer lender but has since moved to a different lending model based on wholesale funding, according to Wisr.