Wisr personal loan repayment calculator

Thinking about taking out a personal loan with Wisr? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Wisr personal loans compare with other options.

I'd like to borrow

$

Loan term

Credit Score ()

Your estimated repayment

at interest rate 10.00 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • No ongoing fees
  • No early repayment fees
  • Good credit borrowers get lower rates
  • Application fee charged
  • No branch access
  • Bad credit borrowers get lower rates

Wisr personal loans rates

Product
Advertised Rate
Comparison Rate*
Repayment
Upfront Fee
Features
Go to site
Company

8.50%

Fixed

9.36%

$616

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

11.95%

Fixed

12.84%

$667

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

13.95%

Fixed

14.85%

$697

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

16.95%

Fixed

17.88%

$745

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

19.95%

Fixed

20.91%

$794

based on $30,000 loan amount for 5 years

$595

Redraw facility
Extra repayments
Fully drawn advance
Secured
Wisr
More details

Features of a Wisr personal loan

Wisr offers a range of unsecured personal loans that can be used for a variety of purposes such as debt consolidation, travel, vehicles or home renovation.

Wisr personal loans have a maximum amount of $50,000 and terms of either three or five years.

Wisr personal loans have personalised interest rates. Personalised rates mean that the interest rate offered is dependent on the borrower’s credit history. Borrowers with good credit will receive a lower interest rate than borrowers with bad credit.

Wisr personal loans – customer service

Because Wisr does not operate any branches, customers must contact Wisr by phone or online enquiry. Online enquiries can be submitted at any time, while phone inquiries are welcome on weekdays from 9am to 5:30pm.

Who is eligible for a Wisr personal loan?

  • Must be an Australian citizen or permanent resident
  • Must be aged 18 years or over

How to apply for a Wisr personal loan?

  • Click ‘Get estimate’
  • Complete loan and contact details
  • Read and agree to terms and conditions
  • Click ‘Get estimate’

Wisr personal loans review

Wisr is a marketplace lender that provides unsecured loans to Australian borrowers. Because Wisr operates exclusively online, it is better suited to tech-savvy borrowers than people who struggled with technology.

Wisr personal loans have a maximum amount of $50,000 and loan terms of either three or five years. Wisr personal loans do not charge any annual or monthly fees, and there are no charges for early repayment.

Wisr uses personalised interest rates for its personal loans. Wisr personal loan rates may range from moderately low to high depending on a number of factors, including the applicant’s credit history. Applicants with good credit may receive lower interest rates than borrowers with bad credit.

To find the best personal loan rates, it’s important to perform a personal loan comparison. When you compare personal loan rates from several different lenders, you’ll be in a better position to choose the loan that’s right for you.

How much can you borrow with a bad credit personal loan?

Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans – they also get loaned less money. Each lender has its own policies, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.

What is a bad credit personal loan?

A bad credit personal loan is a personal loan designed for somebody with a bad credit history. They have higher interest rates than regular personal loans and are also harder to access.

Can you refinance a $5000 personal loan?

Many personal loans, much like home loans, can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.

If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.

Do student personal loans require security?

While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, with higher interest rates.

Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will guarantee the loan, taking on the financial responsibility if the borrower defaults.

What do credit scores have to do with personal loan interest rates?

There is a strong link between credit scores and personal loan interest rates because many lenders use credit scores to decide what interest rates to offer to potential borrowers.

If you have a higher credit score, lenders will probably classify you as a lower-risk borrower. That means they’ll be keen to win your business, so they may offer you a lower interest rate.

If you have a lower credit score, lenders will probably classify you as a higher-risk borrower. That means they might be concerned about you defaulting on the loan and costing them money. As a result, they might protect themselves by charging you a higher interest rate.

What is a personal loan?

A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan – however, the process is easier and faster than taking out a mortgage.

Loan sizes usually range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.

What are the pros and cons of bad credit personal loans?

In some instances, bad credit personal loans can help people with bad credit history to consolidate their debts in such a way that it makes it easier for them to repay those debts. This is because the borrower might be able to consolidate several debts with higher interest rates (such as credit card loans) into one single debt with a lower interest rate.

However, this strategy can backfire if the borrower spends the extra money instead of using it to repay the new loan. Another disadvantage of bad credit personal loans is that they have higher interest rates than regular personal loans.

Can unemployed single parents get personal loans?

It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments. If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan offers – consider contacting the lender before applying. >

Should I get a fixed or variable personal loan?

Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.

A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent, without worrying about ending up out of pocket if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.

How long does it take to get a bad credit personal loan?

In the best-case scenario, an application for a bad credit personal loan can be made within minutes and then be approved within 24 hours.

What documentation is needed for a self-employed personal loan?

Personal loans may require a borrower to provide proof of identity, proof of residence, details of any other outstanding loans (including credit cards), details of assets they own (e.g. savings, car, property), and proof of income.

While borrowers in full-time or part-time employment can often provide payslips and similar documents to prove their income, self-employed borrowers may need to provide other information, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.

What is debt consolidation?

Debt consolidation is the process of rolling several old debts into one new debt – usually to save money or for the sake of convenience.

Can I get a self-employed personal loan with bad credit?

It may be much more difficult for a self-employed borrower to successfully apply for a personal loan if they also have bad credit. Many lenders already consider self-employed borrowers to be riskier than those in full time employment, so several self-employed personal loans require borrowers to have excellent credit.

If you’re a self-employed borrower with a bad credit history, there may still be personal loan options available to you, such as securing your personal loan against a vehicle of equity in a property, though your interest rates may be higher than those of other borrowers. Consider contacting a lender before applying to discuss your options.

Can I apply for a quick loan online?

While some lenders will require you to provide paperwork in person, many lenders will allow you to make a quick personal loan application online. You’ll still need to provide information on your identity, income, and loan purpose in most cases.

Are there low doc personal loans?

Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.

It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.