Best Fixed Rate Personal Loans
Compare Fixed Rate Personal Loans
Nobody wants to pay more than is needed on money they borrow. All Australians want and deserve a reasonable deal – there is absolutely no reason why you should be paying more for debt than the family down the road. Debt is, after all, a product like any other, so Finance Monster is here to find you a really fantastic price on your Fixed Rate Personal Loan and save you lots of money. Why pay more to borrow?
What are Fixed Rate Personal Loans?
With Fixed Personal Loans, the interest rate on the sum borrowed remains the same for the duration of the loan. This means your monthly repayments, plus the total amount you will end up paying back, also stay the same. The other type of Personal Loan is a Variable Rate Loan, where the interest rate you are charged depends on market conditions. It is therefore liable to increase or decrease each month. Finance Monster is here to try and get you your dream fixed rate Personal Loan – all you have to do is get in touch!
How do Fixed Rate Personal Loans work?
With fixed Personal Loans, the loan period usually varies from one to seven years. Fixed Personal Loans may be secured or unsecured. Secured Loans are backed up with an existing asset such as a house or car, whereas unsecured loans are not. To apply for a Fixed Personal Loan, just contact Finance Monster and we will do everything within our power to get you an excellent deal!
Fixed Personal Loan Rates
You will no doubt be wondering how much interest you will pay on your Fixed Rate Personal Loan once you have signed up. Knowing and understanding your FIxed Personal Loan rates means you can budget for the coming months, and work out how big a hole your loan is likely to make in your monthly outgoings. Fixed Personal Loan rates vary according to how long the loan is, and whether it is a secured or unsecured loan. Secured Loans will usually come with lower interest rates since the lending party is less likely to lose out with a guaranteed loan. In order to make sure you are getting a loan that suits your particular needs and requirements, you will also need to consider the advantages of a FIxed Rate Personal Loan vs Variable Rate Personal Loans (see below).
Fixed Rate Personal Loan vs Variable Rate Loans
Here at Finance Monster we get a lot of customer enquiries from Australians wondering whether a Fixed or Variable Personal Loan makes better sense. Often it all comes down to personal circumstances and preferences.
Our Best Personal Loan Rate
AVAILABLE FOR VERY LIMITED TIME
*The comparison rate is based on a loan of $25,000 for a term of 5 years. WARNING. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
So what are the advantages of getting a Fixed Rate Personal Loan over a Variable Loan?
Fixed Rate Personal Loans
+ Plus points
Predictability – you always know what you will be repaying each month
No nasty surprises – even if the interest rate goes up, your monthly repayments will stay the same
Repayment flexibility – with Fixed Rate Personal Loans, you can choose a loan term that suits you. The longer the duration, the less you repay each month. Most Personal Loans also allow you to choose between making weekly, fortnightly and monthly payments.
- Minus points
No benefit if interest falls – your repayments will stay the same whatever happens to the market
Higher admin costs – a Fixed Personal Loan will tend to attract higher fees than a Variable Rate Loan
Check to see if there is an exit fee or loan pay out fee for early payments. Early loan pay out fees can be as high as $1000. So check the fine print with Finance Monster.
Variable Rate Personal Loans
+ Plus points
You benefit if interest rate falls – because your monthly repayments will fall along with it
Lower admin fees – a Variable Personal Loan will tend to attract lower fees than a Fixed Rate Loan.
- Minus points
Unpredictability – you cannot be sure how much you will have to repay each month
You lose out if interest rate rises –because your monthly repayments will rise along with it
Inflexibility – Variable Rate Loans may include restrictions or penalties if you wish to make earlier payments or change the terms of the loan.
Whatever type of loan you are interested in, Finance Monster is always at the end of the phone to advise you and talk through your options. It can be a jungle out there – so use our expertise to help you make sense of what’s on offer.
Finance Monster’s unbeatable Personal Loans Service
Here at Finance Monster we are industry experts in finding really competitive Fixed or Variable Personal Loans. We have the expertise and professionalism needed to search and compare thousands of Fixed Personal Loan Rates from hundreds of loan providers throughout Australia.
Call us today!
Don’t miss out – make the most of our free loans comparison service to dig out the best of hundreds of Fixed Personal Loans from banks all over Australia. Finance Monster leaves no stone unturned and is here to get you the deal you’re looking for. Whether it’s a Fixed or Variable Personal Loan you’re after, Home Loans, Car Loans or any other type of loan, we are here to help out. Call Us 1300 829 666