Compare Variable Rate Personal Loans
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What are Variable Interest Rate Personal Loans?
In Australia is it possible to get both FIxed and Variable Personal Loans. Fixed loans have a fixed interest rate, meaning you can predict exactly how much you are going to have to pay back each month. However, a Variable Personal Loan interest rate will change according to the market.
Should I let the Variable Personal Loan Interest rate affect my decision?
There are lots of factors affecting what type of loan you should get. Use these handy tips to understand more:
Variable Rate Personal Loans – Advantages
- Rate drops will save you money – If rates go down below your initial rate then you will repay less that month
- Make extra repayments with no penalty – With fixed rate loans, extra loan repayments are often not authorised, or may attract a fee. Variable Rate Loans usually allow you to make extra repayments at no extra cost
- No break fees – Variable Personal Loans Rates typically do not have break fees. The is means you are free to change or pay off your loan before the set period if your situation changes, for example if you sell your home
Variable Rate Personal Loans – Disadvantages
- Budgeting is harder – You cannot predict what you will repay each month as your Variable Personal Loan interest rate will change according to market fluctuations
- You may be hit by rate rises – If interest rates rise above your fixed rate, you will be have to pay more that month
Variable interest rates – personal loans Australia
Throughout the country there are heaps of different loans available – it can be mind-boggling and confusing to see what is out there and try to compare all the different variables. How do you know whether to get a secured or unsecured loan? How are you supposed to choose between Fixed and Variable Personal Loans? What is the best duration of repayment? Finance Monster is here to answer all your questions and to compare different loan rates, and terms and conditions, according to your individual circumstances.
Our Best Personal Loan Rate
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*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.
Borrowing made easy with Finance Monster
Anybody wanting to borrow money is likely to have a high number of questions before taking out the loan – this is healthy and a good sign, as it means you are thinking seriously about the implications of your loan. You may be wondering about any of the following:
- What is a Variable Interest Rate Personal Loan?
- Should I let Variable Personal Loan interest rate affect my decision?
- What is a FIxed Rate Personal Loan?
- What is the difference between a secured loan and an unsecured loan?
- What interest rates will I have to pay?
- What are typical variable interest rates personal loans in Australia?
We aim to answer some of these questions on this site, but please remember this information will be limited and not necessarily up-to-date. The best way to make the most of our expertise and learn the latest information about loans is to talk to us directly so that we can talk about your particular situation and find the best deal for you.
Finance Monster’s outstanding service
Here at Finance Monster we pride ourselves on seeking out deals that other brokers cannot reach. We are experts in all types of loans with both fixed and variable interest rates, Personal Loans, Home Loans, Car Loans, refinancing, Secured and Unsecured Loans and every other type of loan imaginable. For Variable Interest Rates Personal Loans Australia, don’t miss our great offers. Want to know more about what is a Variable Interest Rate Personal Loan? Just ask!