Plenti personal loans

Plenti is a technology-led lending company, providing personal, automotive and renewable loans to creditworthy borrowers. Previously known as RateSetter, Plenti changed its name in 2020.

Plenti is an online-only operation, which means it doesn’t have branches. You can apply for loans online, while they also have a customer service line if you need to speak to someone.

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17 Oct, 2022

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26 Nov, 2024

Personal Loans calculator

Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.

Your estimated repayments

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This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
The calculation rounds of the personal loan repayment to the closest dollar value without decimals.

All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
Calculator does not include the cost of fees or other extra charges.
Calculator does not account for changes to interest rates over time.
This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.

About Plenti personal loans

Plenti offers secured and unsecured personal loans from $2,001 to $45,000, for periods of six months to five years. Borrowers can pay down Plenti personal loans in monthly instalments over the nominated loan term until the debt is repaid. This personal loan allows you to make extra repayments with no penalty, which may save you interest and help pay your loan off quicker.

Borrowers have the choice between variable and fixed personal loans. The fixed terms for personal loans from Plenti range from 3 to 5 years, while variable loan terms are from 1 to 2 years. There are no exit fees or early repayment penalties but there is an upfront application fee.

The Plenti RateEstimate allows you to put in your details before you apply so that you can see how much your repayments will be before you commit to the loan. This process will also show you all the fees and charges you will need to pay so that you're aware of everything before committing to the loan.

Who is eligible for Plenti personal loans?

To be eligible for a Plenti personal loan you’ll need to meet the following criteria:

Be 21 years or older
Be an Australian citizen or permanent resident
Earn at least $30,000 per year
Have proof of this income
Have a positive credit record
Hold a provisional or full driver’s licence

How to apply for a Plenti personal loan

Borrowers can apply online for a Plenti personal loan through their website. The application process takes around 10 minutes to complete and involves the following steps

Find out your personalised interest rate – this will not affect your credit score and takes about 1 minute.
Apply for a personal loan online.
You should receive pre-approval within two business days.
Complete online loan settlement process.
Once you’ve accepted your loan offer, the funds will usually come through the same day (if accepted before 2pm).

At the time of application, you’ll need to provide the following documentation:

Driver’s licence
Bank details
Proof of income and employment
Details of expenses and any other financial commitments

Plenti personal loan review

Plenti stands out from competitors by offering some of the most competitive rates on the market, but the rate borrowers are given will ultimately depend on the information provided in the application. To be approved, customers will need to meet the eligibility criteria set by Plenti.

Borrowers won’t receive their rate until approved. However, you can get a rate estimate before you apply without it affecting your credit score. After approval you can expect the funds in about one business day. The Plenti RateEstimate is a helpful tool for potential borrowers and is yet another way that Plenti personal loans stand out in the Australian market.

Plenti does charge an application fee for variable or fixed loans that can be moderate to high. It’s worth keeping this in mind for your budget before you apply for a loan

Before applying for a Plenti personal loan, always do your research and compare your options to make sure you’re getting a personal loan that suits your budget, needs and lifestyle.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Plenti personal loans

Plenti Personal Loans

Personal Loans calculator