How are interest rates calculated, and what is the current interest rate?

Calculating interest rates may seem as intricate as alchemy, but at SocietyOne, we strive to simplify this for our valued customers. Our approachable and empathetic approach makes borrowing less intimidating and more accessible to all. With this, we calculate interest rates carefully – a unique process from one person to the next.
Interest rates, rather than being arbitrarily set, are meticulously personalised for each customer. We believe in fairness; hence, the rates are determined based on specific factors such as your credit score.
The rule of thumb is that the better your credit profile, the lower your interest rate. This means you could be presented with a more favourable deal than many traditional banks. Ultimately, our commitment to risk-based pricing is a testament to our philosophy of fairness and understanding.
Now, you might be curious about your current interest rate. Not to worry, we’ve got you covered with a quick and easy procedure. Simply visit our Rates & Fees page here at SocietyOne to discover your interest rate. We are here to guide you throughout your financial journey, ensuring transparency and trust at every step.
At SocietyOne, we don’t shy away from positively educating our customers. That’s why we want you to know that a secured loan is a type of credit that is backed by an asset, such as a car. So what does this mean for you? It opens up the opportunity to borrow more funds at lower interest rates and for a longer period of time.
These benefits are due to the reduced risk for us, the lender, allowing us to pass the advantage onto you, our customers. Moreover, our range of secured loans spans from $5,000 to a substantial $70,000 over two, three, five, or seven years, offering flexibility tailored to your needs.
It’s important to understand that at SocietyOne, we realise you might not wake up looking for a personal loan. But with the joys of life just around the corner, exciting projects can pop up or a new car could be calling. In this case, a personal loan could be the helping hand you need to make your aspirations a reality.
Whether it’s for home renovations or a week-long holiday trip with friends and family, we aim to make your financial experience smoother and more manageable with personal loans.
As a leading Australian lender, we at SocietyOne thrive on simplifying your financial matters, giving you a faster, fairer deal, and making your dreams come true. Our customers are at the heart of all we do, and their trust fuels our dedication.