Salt & Lime - Debt Consolidation Loan
Secured | Fixed
The Salt & Lime Debt Consolidation Loan has an advertised interest rate from 20.50% p.a. with a loan type of Secured. The Debt Consolidation Loan will have a borrowing range between $4,000 and $30,000 with a loan repayment term of between 1 and 5 years. It will also be a Fixed rate loan with a comparison rate from 16.72% p.a..
More details about the Salt & Lime Debt Consolidation Loan can be found below or visit Salt & Lime to learn more or apply.
The loan type will be Secured with a comparison rate of 16.72% p.a. and an advertised rate of 20.50% p.a.
Advertised Rate
From 20.50% p.a. to 39% p.a. Fixed
Comparison Rate
From 16.72% p.a. to 35.28% p.a.
Loan Term
1 to 5 years
Borrowing Range
$4,000 to $30,000
Interest
Rate Type
Fixed
Advertised Rate
From 20.50% p.a. to 39% p.a.
Fixed
Comparison Rate
From 16.72% p.a. to 35.28% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicle
Loan Terms
Loan Term
1 to 5
years
Borrowing Range
$4,000 to $30,000
Repayment
Monthly, Weekly, Fortnightly
Features
Extra Repayments Allowed
Yes
Fees
Establishment Fee
$0
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Who is the product designed for?
The Target Market for this product is customers who need a loan for debt consolidation purposes and have the financial situation to borrow money to do so, while wanting certainty of repayments not changing over terms up to 7 years and with the flexibility to make extra repayments.
Needs and objectives
- A person that is seeking a personal loan over a fixed term for purposes of debt consolidation, or singular personal, household, or motor vehicle purchases.
Financial situation
A person that;
- Requires a minimum credit amount of $4,000, and up to $75,000
- Can meet repayments including both principal and interest portions due, satisfying Salt & Lime’s credit assessment criteria
A person that;
- Wants the certainty of a fixed interest rate, and the flexibility to make extra repayments to save on interest, with no fee penalties, and flexible repayment options
- Wants the option to reduce the interest portion of their loan repayment
Visit Salt & Lime to view Target Market Determination Effective From: 2023-04-13.
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