Zip Personal Loan is a flexible loan offering individuals the option to apply for loan amounts of $5,000 - $50,000 over a 3-7 year loan term to help enable life's experiences (e.g. wedding, renovation) or to support with debt consolidation (e.g. credit cards, existing loans).
The Zip Personal Loan is an unsecured personal loan, offering a competitive variable interest rate starting from 11.99% to 21.99%p.a. (comparison rate from 12.94% to 22.90%p.a.¹). Zip Personal Loan rewards you with a 1% rate drop² in each year of your loan when you repay all your Zip accounts on time throughout the year.
Zip Personal Loan Fees:
- $9.95 Monthly fee; included in your minimum monthly repayment amount.
- $199 Establishment fee; applied to the balance of your loan when approved.
- $25 Late fee for any repayment more than 21 days overdue.
- There are no fees for making early or extra repayments and there are no penalties for repaying your entire personal loan early.
Zip Personal Loan offers flexible repayments option; choose weekly, fortnightly or monthly, provided you meet your minimum monthly repayment amount.
The application process is completely online and can be done in minutes³; via the Zip app or online.
For application eligibility and documentation requirements please see here. To apply for a Zip Personal Loan please visit here.
¹The comparison rate for the Zip Personal Loan is based on an unsecured loan of $30,000 over a loan term of 5 years. The comparison rate assumes no Annual Rate Drops are applied. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
²The rate drop is applied to your personal loan at the end of each anniversary year. To be eligible for an annual rate drop, you must, during the anniversary year, make all repayment amounts by the due date each month on your personal loan and any other accounts you hold with Zip. If you miss any repayments under your loan agreement or any of your other Zip accounts at any time, you will not be eligible for an annual rate drop on your next anniversary date, but you may be eligible in subsequent anniversary years if you meet the criteria during those anniversary years. You may not receive the full benefit of annual rate drops if the variable interest rate increases, which may happen from time to time. T&Cs and credit approval criteria apply. We will determine the interest rate available to you based on your credit score and financial information provided during your application. The interest rate on the Zip Personal Loan ranges between 11.99%p.a. to 21.99%p.a.T&Cs and credit approval criteria apply.
³Subject to credit assessment criteria. Interest, fees and charges subject to change. Credit provided by ZipMoney Payments Pty Ltd (ABN 58 164 440 993), Australian Credit Licence Number 441878.