What will my interest rate be?

When you apply for a Plenti loan, the interest rate you’re shownwill be determined based on several factors. We’ll assess your personal circumstances, including your credit score, income, current financial obligations, credit history, other debts and savings.  If you have a low credit score or your income is unstable, your interest rate may be higher. The interest rate we’re able to offer you might change after we have fully assessed your loan application.

You can find out your credit score for free by following advice set out on the government’s financial guidance site Moneysmart, or financial comparison sites like Canstar. Your credit score takes into account information like the number of credit applications you’ve made and the amount of money you’ve borrowed.

It also notes your history of repaying debts on time.Together, these factors help determine the interest rate you might qualify for.