Debt consolidation interest rates

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Consolidate your debt to pay lower interest rates

Credit cards and some personal loans have very high interest rates and it makes it very hard to pay the debt off. On top of that the banks and credit card companies also charge late payment fees if you are unable to meet your financial obligations. Lose the extra interest, fees and charges with a simplified debt consolidation loan.

 

Our latest interest rates

Variable Interest Rates – Principal and Interest

Rate typesOur ratesComparison
Standard variable < $150K6.04%6.05%
Standard variable > $150K6.04%6.05%
Standard variable > $250K6.04%6.05%
Line of Credit

Fixed Interest Rates – Principal and Interest

Rate typesOur ratesComparison
1 year fixed6.19%5.90%
2 year fixed6.09%5.91%
3 year fixed5.99%5.91%
4 year fixed5.99%5.92%
5 year fixed5.99%5.93%

Variable Interest Rates – Interest Only

RatesOur ratesComparison
Standard variable < $150K7.14%7.15%
Standard variable > $150K6.34%6.32%
Standard variable > $250K6.34%6.32%
Line of Credit7.80% – 8.51%

Fixed Interest Rates – Interest Only

Rate typesOur ratesComparison
1 year fixed6.49%5.93%
2 year fixed6.39%5.97%
3 year fixed6.29%5.99%
4 year fixed6.29%6.02%
5 year fixed6.29%6.05%

Variable Interest Rates – Principal and Interest

Rate typesOur ratesComparison
Standard variable < $150K6.19%6.26%
Standard variable < $250K6.19%6.26%
Standard variable > $250K6.19%6.26%
Line of Credit

Fixed Interest Rates – Principal and Interest

Rate typesOur ratesComparison
1 year fixed6.39%6.10%
2 year fixed6.29%6.11%
3 year fixed6.19%6.11%
4 year fixed6.19%6.12%
5 year fixed6.19%6.13%

Variable Interest Rates – Interest Only

Rate typesOur ratesComparison
Standard variable < $150K6.54%6.61%
Standard variable < $250K6.29%6.41%
Standard variable > $250K6.29%6.41%
Line of Credit6.79% – 8.51%

Fixed Interest Rates – Interest Only

Rate typesOur ratesComparison
1 year fixed6.59%6.12%
2 year fixed6.44%6.85%
3 year fixed6.39%6.16%
4 year fixed6.39%6.19%
5 year fixed6.39%6.21%

Fixed Interest Rates – Principal and Interest

Rate typesOur ratesComparison
1 year fixed6.84%9.30%
2 year fixed6.54%8.98%
3 year fixed6.74%8.78%
4 year fixed6.74%8.57%
5 year fixed6.84%8.43%

Fixed Interest Rates – Interest Only

Rate typesOur ratesComparison
1 year fixed6.94%9.56%
2 year fixed6.59%9.21%
3 year fixed6.84%9.01%
4 year fixed6.94%8.82%
5 year fixed7.14%8.71%

Paying off credit cards, car finance and other personal loans tend to be a good thing for your credit score. When you combine your loans into one, it shows as paying off your multiple loans.

You need to stick to your debt consolidation loan repayments (which is generally easy because loans are tailored to each applicant, as a payment schedule based upon what is achievable. If you aren’t responsible for meeting your repayments, it can reflect negatively. However, if you follow the plan, this won’t affect your credit negatively.

*Quoted rates above are current as of Oct 5th, 2023. Anything above LVR ≥ 80% may be subject to changes in interest rate.

Interest rates quoted by this site (www.www.debtconsolidationn.com.au) are current as of Oct 5th, 2023 but are subject to change without notification. Please note that our Comparison Rates only apply to the current interest rates and terms provided. There may be different interest amounts, which will result in different comparison rates. Factors such as redraw fees, early repayment fees, and fee waivers are not included in our comparison rate table and can change the cost of your loan.

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