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Apply now and have an approval decision within minutes
Associated fees:
Interest Rate: 7.14% – 20.39% p.a. (fixed rate)
$595 establishment fee
No ongoing monthly fees
No early repayment fees
Example Loan Cost:
Borrow $10,000 at 9.99% p.a. over 3 years → Total repayment ~$12,530
Borrow $30,000 at 14.99% p.a. over 5 years → Total repayment ~$42,050
Best For:
✔ Borrowers looking for a personal loan with flexible repayments
Associated fees:
Interest Rate: From 6.49% p.a. (fixed rate)
$595 establishment fee
No ongoing monthly fees
No early repayment fees
Best For:
✔ Home improvements, car purchases, or large expenses
✔ Instant pre-approval with no impact on credit score
✔ Funds are typically deposited within 24 – 48 hours of full approval
All information included here on Friendly Finance are accurate and in line with the data provided on Wisr’s website as of February 2025.
About Wisr
📌 Founded: 2016
📌 Headquarters: Sydney, New South Wales, Australia
📌 Stock Market Listing: ASX (Australian Securities Exchange) under ticker WZR
📌 Credit Licence: Australian Credit Licence (ACL) 458572
📌 Regulated by: Australian Securities and Investments Commission (ASIC)
📌 Main Services:
✔ Unsecured & Secured Personal Loans
✔ Debt Consolidation Loans
✔ Car Loans
✔ Financial Wellness Tools (Wisr App, Round Up feature)
Wisr is a neo-lender that offers low-interest, fee-free personal loans while also providing financial wellness tools to help Australians manage their money smarter. Unlike payday lenders or traditional banks, Wisr operates with a focus on responsible lending, financial education, and digital automation.
Wisr offers risk-based pricing, meaning interest rates are personalized based on an applicant’s credit profile, income, and financial behavior. The company differentiates itself through its Wisr App and Round Up feature, which helps borrowers pay off their loans faster by rounding up everyday transactions and putting the spare change toward loan repayments.
Wisr: Eligibility Requirements
The application process for Wisr 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 Wisr's eligibility requirements:
- Your gross income is over $25,000 p.a.
- You are over 18 years of age
- You have had no unpaid defaults in the past 5 years
- You have had no bankruptcies in the last 7 years
- You are not currently in financial hardship
- You are a permanent Australian resident (living in Australia right now)
However, please note that meeting these requirements does not guarantee approval for a loan, as Wisr will also assess your credit score and financial situation before making a decision.
Quick loan disbursement: Wisr is known for releasing loan proceeds within the day.
Direct debit repayments: Wisr sets up a direct debit arrangement with your bank account, making it easy to make repayments on time.
Round-Up app: The Wisr app rounds up your payment for daily transactions to the nearest dollar and allocates the spare to either your savings account or as a contributing payment to your loans, making it hassle-free to manage your debt.
Financial hardship assistance: Wisr may lower your payback amount or suspend your obligatory repayments for an agreed-upon period of time if you experience financial hardships during the term of the loan.
It’s important to note that while these features can make it easier to manage your debt and make repayments, it’s essential to consider the overall cost of the loan, including any fees and interest charges, before taking out a loan. Make sure you can afford the repayments and understand the terms and conditions of the loan agreement.
The Company: Wisr
There are some positives and negatives for prospective borrowers to consider before using Wisr as an online lender. As part of the reviewing process for this page, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- Speedy loan application process and loan approval process.
- Online processing of applications through the self-service portal
- Loan top-up options for eligible borrowers
- Auto-debit arrangement for scheduled payments
Negatives
- Problems with the user interface of the self-service online portal, resulting in a slow process for online customers.
