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Comparison rate*

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*Based on a $10,000 unsecured personal loan over a 3 year term.

Our Interest Rates

We reward creditworthy borrowers with an interest rate tailored to their credit history. The higher your loan grade, the less interest you will pay.

SocietyOne Loan GradesInterest Rate
2-3 years
Interest Rate
5 years
Comparison Rate
2-3 years 2
Comparison Rate
5 years 3
Grade AA8.95% - 9.65%9.40% - 10.10%8.95% - 9.65%9.40% - 10.10%
Grade A10.57% - 11.28%11.02% - 11.73%12.28% - 13.0%11.59% - 12.31%
Grade B11.05% - 12.49%11.50% - 12.94%13.11% - 14.56%12.19% 13.64%
Grade C12.03% - 14.48%12.48% - 14.93%14.61% - 17.10%13.35% - 15.81%
Grade D13.69% - 19.49%14.14% - 19.94%16.81% - 22.72%15.19% - 21.03%

How are our interest rates set?

When you apply for a loan through SocietyOne, your loan offer is assigned a grade between AA and D  with a corresponding interest rate range (see table above) and the fee for establishing your loan.

The loan grade is based on a variety of factors, such as your credit history, credit score, employment status, cash flow and loan amount requested. The better the SocietyOne loan grade, the lower the interest rate and fee.

Once your application is approved, your loan will be auctioned in our marketplace. Our investors will compete to offer you the lowest rate within the interest rate range for your specific loan grade. If investor demand for your loan is high, the final rate you are offered could be lower than you expect!

What's a comparison rate?

Comparison rates help you work out the true cost of your loan by factoring in fees and charges. They combine the interest rate and all the fees and charges that you’ll need to pay during the life of a loan into a single percentage figure.

They’re calculated on a number of factors including the loan amount, term, frequency of repayment, interest rate and fees and charges. You can compare the comparison rate for a loan to the advertised rate for that loan to see if there are any ‘hidden’ fees or charges.

You can compare comparison rates for different loans to see which loan will cost more. Bear in mind - the comparison rate doesn’t include fees and charges that are based on some future event that might not happen, e.g. if you vary the loan or fail to pay.

Our Fees

At SocietyOne, we keep our loans simple. We charge a one off establishment fee, no monthly fees or early repayment fees.

SocietyOne Loan GradesEstablishment FeeMonthly Fee
Grade AA0.00%$0
Grade A 2.50% $0
Grade B 3.00% $0
Grade C3.75%$0
Grade D4.50%$0

Default Fees

Default fees apply if your repayment is late or we need to take action to recover the loan

Late/overdue payment Fee $35 per late paymentIf SocietyOne is unable to process a direct debt from your account and the payment remains outstanding, this fee is payable on each of 5, 14, 21 and 30 days after the payment date.
Direct Debit Dishonour Fee$25 per dishonourPayable if SocietyOne is unable to process a direct debit from your account.
Enforcement ExpensesIf you fail to repay your loan, you will be liable to pay all expenses reasonably incurred by SocietyOne in enforcing or preserving its rights under the loan.

2 Based on a $10,000 unsecured personal loan for a 2 year term
3 Based on a $35,000 unsecured personal loan for a two year term
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result different comparison rates.