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Plenti personal loans range from $5,000 to $50,000 and can be used for a variety of purposes, including travel, home renovation, debt consolidation, medical expenses, car loans, and wedding expenses. Interest rates start at 6.57% p.a. and repayment terms range from 12 months to 7 years.
Plenti green loans range between $2,000 to $45,000 and can be used to finance the purchase of renewable energy products, such as solar panels or batteries. Interest rates start at 9.49% p.a. With monthly fees of $8.99 and repayment terms ranging from 3 years to 7 years.
Plenti car loans range from $10,000 to $100,000 and can be used to help you pay for your education. Interest rates start at 7.49% p.a. and repayment terms range from 12 months to 7 years.
Other Loan Fees
A flat fee that applies regardless of the value of the loan
A tiered fee based on the total amount borrowed
A percentage fee based on the total amount borrowed and the credit risk of the customer
A hybrid fee
The loans include a once-off Credit Assistance Fee, which is payable to Plenti for assisting with your loan
When you request a RateEstimate, they will provide you with an estimate of the upfront fees and charges that may apply to your Plenti loan. These fees and charges are included in your monthly repayment.
There is no specific default fees and early repayment fees mentioned
All information included here on Friendly Finance is accurate and in line with the data provided on Plenti’s website as of November 2023.
About Plenti Loans
Plenti Australia is a technology-led consumer lending and investment company that operates as a leading online marketplace lender. They provide innovative financial solutions to individuals and businesses, aiming to make borrowing and investing easier and more rewarding for everyone.
With a customer-centric approach and smart technology, Plenti offers personal loans with borrowing amounts starting from $5,000 up to $50,000. Their loan products have competitive rates and flexible terms to cater to diverse financial needs.
Plenti: Eligibility Requirements
The application process for Plenti is done through the company’s website or you can also easily apply for a loan using this form. To process your loan application, you need to pass Plenti's eligibility requirements:
- Age: You must be aged 21 or over.
- Citizenship/Residency: You should be an Australian citizen or permanent resident.
- Income: You need to have a regular source of income that can be demonstrated, with an annual income of at least $25,000.
- Credit History: It is important to have a good credit history.
Meeting these eligibility requirements increases your chances of being approved for a personal loan with Plenti. However, please note that meeting the eligibility criteria does not guarantee loan approval. The final decision is subject to Plenti’s assessment of your application, which considers various factors, including your financial situation and creditworthiness.
Rate Estimate: Plenti provides a rate estimate for their loans, allowing borrowers to get an idea of the interest rate they may qualify for.
Automotive and Renewable Energy Loans: Plenti has a focus on automotive and renewable energy loans, offering financing options for these specific sectors.
Flexible Loan Amounts: Plenti provides loans ranging from $5,000 to $50,000, allowing customers to borrow an amount that suits their specific needs.
Competitive Interest Rates: Plenti offers competitive interest rates on their loans, which can vary depending on factors such as the loan amount, term, and creditworthiness of the borrower.
Personalised Loan Terms: Borrowers have the flexibility to choose the loan term that works best for them, typically ranging from 6 months to 7 years. This allows borrowers to select a repayment schedule that aligns with their financial goals and capabilities.
Quick Online Application Process: Plenti AU’s loan application process is streamlined and can be completed entirely online. This enables borrowers to apply for a loan conveniently from the comfort of their homes and receive a prompt decision.
Loan Protection Options: Plenti offers optional loan protection insurance, providing borrowers with added financial security in case of unforeseen events such as illness, disability, or involuntary unemployment.
The Company: Plenti
There are some positives and negatives for prospective borrowers to consider before using Plenti as an online lender. As part of the reviewing process for this article, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- The quick and easy application process
- Competitive interest rates
- Quick loan approval
- Great customer service
Negatives
- Expensive late payment fees and upfront fees
