SocietyOne’s secured personal loan has been increased

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Online lender SocityOne has announced an increased capacity of its newest loan products, which means it can offer customers larger loans. Now customers can access a loan amount up to $70,000.

This increase to their fixed secured personal loans and unsecured personal loans comes after securing a $200 million warehouse facility which allowed the lender to lower the cost of funding they provide.

“Our newly doubled funding capacity will support these growth initiatives both in the medium and the long-term, while helping us to reduce our cost of funding and improve our funding diversity,“ said chief executive officer of SocietyOne, Mark Jones.

“In addition, the new secured loan product will enable us to increase accessibility and flexibility for our customers, while maintaining our high credit quality for our investors.”

SocietyOne - Secured Personal Loan
  • Fixed rates starting from 4.95% p.a. (5.78% p.a. comparison rate*)
  • No ongoing fees
  • Loans up to $70,000 available
  • $595 upfront application fee
Find out more

SocietyOne’s secured personal loans offers fixed rates starting from a low 4.95% p.a. (5.78% p.a. comparison rate*) for 2, 3, 5, and 7-year loans with no ongoing fees. You can take out a personal loan from $5,000-$70,000 and get the flexibility to make repayments fortnightly or monthly, along with the ability to make free extra repayments. However, keep in mind that this loan lacks a redraw facility, so any extra repayments you make will not be retrievable. There is also the $595 application fee you need to budget for. 

SocietyOne’s secured personal loan offers personalised rated based on your credit history. So depending on your situation your interest rates can range from 4.95% p.a. up to 19.99% p.a. (5.78% p.a. to 20.93% p.a. comparison rates*).

How does SocietyOne compare?

SocietyOne’s lending system gives interest rates to borrowers based on their individual credit history. If you are a person with excellent credit then you can get a secured personal loan starting from 4.95% p.a. (5.78% p.a. comparison rate*). And that rate is 226 basis points below the 7.21% fixed rate average from Mozo’s database.

With a low variable rate for people with excellent credit of 4.95% p.a. (5.78% p.a. comparison rate*), it puts SocietyOne’s Secured Personal Loan (Excellent Credit, Fixed) amongst some of the lowest available rates in Mozo’s database.

If you are in the market for a personal loan check out Mozo’s personal loan comparison hub to find which loan is right for you.

Personal loan comparisons on Mozo - rates updated daily

Search promoted personal loans below or do a full Mozo database search. Advertiser disclosure.
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    Mozo Experts Choice 2022
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    4.99% p.a.to 14.99% p.a.
    4.99% p.a.to 14.99% p.a.based on $30,000
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    Unsecured Personal Loan

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    interest rate
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    5.35% p.a.to 19.09% p.a.
    6.14% p.a.to 19.99% p.a.based on $30,000
    over 5 years

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

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    5.75% p.a.
    5.96% p.a.based on $30,000
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  • Hot DealRefinance your existing Big 4 personal loan to a NOW Finance No Fee Personal Loan by Dec 31 to receive a $200 Westfield gift card (T&Cs apply).
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    Mozo Experts Choice 2022
    No Fee Unsecured Personal Loan

    Fixed

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    5.95% p.a.to 17.95% p.a.
    5.95% p.a.to 17.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured from the only lender with no fees and none of the bank. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Back to back winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021 & 2022^.

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    Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.49% p.a.to 20.95% p.a.
    6.49% p.a.to 20.95% p.a.based on $30,000
    over 5 years

    Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. $0 establishment fee for loans from $5,000 to $30,000, a $595 establishment fee will be charged on loan amounts of $30,001 to $64,000.

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* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

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