Rating based on 47 reviews


  • Short-term loans up to $45,000
  • Low-interest starting from 7.8%
  • Repayment up to 5 years

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[Accessed May 2, 2023]

Ratesetter - a peer-to-peer lender

Ratesetter is Australia’s most loved peer-to-peer lender that offers personal loans with low-interest rates of up to $10,000 with up to 3 years to pay back the loan.

The latest technology matches everyday investors with creditworthy borrowers this cut out the cost of the middleman and traditional lenders while offering you better value for money and a much lower interest rate. You will be able to negotiate a flexible loan to suit your individual needs and circumstances. 

Their philosophy

The way that the financial lending system works is currently flawed, they aim to create a system that serves their clients’ needs by giving them the best value and giving them back their financial power. By using the latest in technology, they are able to deliver the fastest and most efficient short-term loan service. Their terms are completely transparent and they give the best customer service.  

Their history

  • Ratesetter was first established in 2009 and has since grown into one of Australia’s favourite peer-to-peer lender facilitating over 320,00 quick loans with the value of $3.1 billion. Their investors have earned over $80 million in interest and equally allowed those that borrowed to save millions by cutting out the middleman.
  • Ratesetter was one of the first peer-to-peer lenders to retail investors in Australia and the first company licensed by ASIC and play a meaningful role in the industry. Their investors participate via a registered managed investment scheme.
  • Their peer-to-peer lending system put the power back into your hands.

They offer competitive rates

They offer both secured and unsecured flexible, transparent loans of up to $45,000, they offer the best rates.

Applying online is very fast and simple it takes only a few minutes and there is no obligation to take the short-term loan once you have applied. There are no penalty fees or exit fees charged if you want to end the loan term early.

It’s as easy as 1,2,3,4

  1. Check your personalised rate. Check your rate in only 1 minute and applying won't affect your credit score.
  2. Apply online. The online loan application process only takes 5 minutes.
  3. Get your outcome. They will decide if you qualify for a loan this can take as little as 10 minutes to as much as 1 working business day depending on the loan agreement.
  4. Get your money. Once your application has been approved, they will transfer the money directly into your account on the very same day.

Do you qualify?

  • You must be 21 years or older
  • You must be a permanent Australian or New Zealand, citizen
  • You must have a regular income and be in the position to pay back the loan
  • You must have a good credit score and clear credit history - they do not offer bad credit loans

RateSetter – Short-term loan

  • Loan Type Short-term loans
  • Interest Rate 7.848% p/a
  • Loan Amount up to $45,000
  • Repayment 6 months to 5 years

Benefits of RateSetter

  • Get low rates
  • Investment opportunities
  • Simpler and fast loans

Short-term loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This short-term loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Ratesetters – They have the affordable loans with the lowest rates

If you are self-employed you might find it difficult to obtain a loan, but Ratesetters can assist you if you have proof of a steady income for at least 2 years they can offer you an unsecured personal loan.

Their business loans range between as little as $2,001 to as much as $45,000 with repayment terms from 6 months to 5 years. Their self-employed loans can be granted in as little as 48 hours after they have received your bank statement and they will give you a decision within 2 hours of your application being received.

How to apply when you are self-employed

  • Your last 2 personal tax returns
  • Your last 2 notices of assessment
  • A copy of your recent bank statement
  • Your ABN number
  • And a copy of your enrolment history

Save money while saving the environment

Their Green loans help you save the environment while helping to save you money by offering you loans from 7.9%p.a. lower your monthly utility bills and help protect the planet at the same time.

Some of the energy efficient products they offer are:

  • Solar panels and solar batteries
  • Solar water heaters
  • Energy efficient lighting
  • Energy efficient air conditioning
  • Low emission cars and vehicles
  • Air source heat pumps
  • Power factor correction
  • Variable speed and frequency drives

Finance your eco-friendly projects

Ratesetter offers a low green rate to help you finance energy efficient projects and projects that focus on renewable energy. Apply and in just 5 minutes they will give you your personalised rate. They will even pay your installer directly for added convenience.

Wedding loans    

When you find that special someone and want to make it official by giving them a ring and making them your spouse by getting married only to realise how much rings and wedding costs, they will be able to assist you with a wedding personal loan.

You must be over the age of 21 years and be a permanent resident of Australia and be permanently employed with a regular source of income.  It takes only 5 minutes to apply and the application is obligation free. If your wedding loan application is approved, they will transfer the money directly into your bank account within 48 hours. An average wedding costs $36,200 with Ratesetter you can save up to $5,175. It’s easy to say I do when Ratesetter helps you with a wedding loan to suit your individual needs and requirements.

Low rate medical financing

Medical procedures can cost a lot of money and stretch your saving to its limits. They offer low rate medical, finance for the following:

  • General surgery
  • Bariatric surgery
  • Cardiology
  • Dermatology
  • Ophthalmology (including laser eye surgeries)

Medical emergency loans are approved within 48 hours and it only takes 5 minutes to apply for a no obligation quotation.

Terms and fees

All Ratesetter personal and short-term loan repayment terms range from 6 months to 5 years depending on the agreement signed. Interest rates are charged between 3.7% and 9.6%. 

Contact them

If you have any questions then please give them a call on 1300 768 710 or e-mail them on contact@ratesetter.co.au

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RateSetter is a trusted & reliable provider of short-term loans

In our review, RateSetter adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.

✅ RateSetter is a registered credit provider in Australia: ACL 449176

Customer Reviews & Testimonials

I wanted to marry my fiancé but the savings were not enough. Thank you for the wedding loan, I am husband today.

William W
— Bega —

The best lender that saved my life when I had no money for Cardio.

Oliver B
— Canberra —

Thank you for considering self-employed people.

Jack S
— Ballina —

RateSetter Contact

Physical Address

Postal Address

  • PO Box R745, Royal Exchange, 1225, Australia

Opening Hours

  • Monday 09:00 – 17:30
  • Tuesday 09:00 – 17:30
  • Wednesday 09:00 – 17:30
  • Thursday 09:00 – 17:30
  • Friday 09:00 – 17:30
  • Saturday – Closed
  • Sunday – Closed