Liberty Personal Loan Australia, fixed 7.24% p.a., free redraw and no ongoing fees
Flexible personal loan access up to $80,000 at a fixed 7.24% p.a., free redraw, no ongoing fees and fast online approval with weekly, fortnightly or monthly repayments
Liberty Personal Loan in Australia — a quick look
Liberty Personal Loan gives Australians flexible access to credit with a competitive fixed 7.24% p.a. interest rate. You can apply for a credit limit between $5,000 and $80,000 and only pay interest on the amount you actually use, making this product ideal for planned expenses or keeping an emergency buffer.
This unsecured personal loan comes with a free redraw facility and no ongoing fees, which keeps your borrowing costs predictable. Repayments are flexible and available weekly, fortnightly or monthly, so you can match payments to your pay cycle without stress.
Costs, fees and practical features
The headline fixed 7.24% p.a. is simple to understand and applies only to your outstanding balance, reducing surprises in repayments. There’s an establishment fee that varies by risk band from 0% to 5.5% up to a $950 cap, but there are no ongoing, early repayment or redraw fees to worry about.
Other handy features include a debit card for direct access to funds and the ability to make extra repayments at any time through the free redraw. That combination makes Liberty Personal Loan a lower-cost, flexible option compared with many credit cards or revolving credit accounts.
How the loan works and how to apply
The Liberty Personal Loan operates like a credit limit you can draw on: you only pay interest on what’s outstanding and can redraw extra payments when needed. Loan terms typically run from three to seven years, so you can choose the pace that suits your budget and goals.
Applying is straightforward online and usually takes around ten minutes. If you bank with CommBank you may see funds within minutes of approval; other banks typically take up to 24 hours. To apply you’ll need ID, proof of income and internet banking details.
Who should consider it and key takeaways
Liberty Personal Loan suits Australians planning a holiday, home improvements, a large purchase or those wanting an emergency credit line without the ongoing fees of a card. The fixed 7.24% p.a. rate and free redraw give stability and flexibility, especially if you expect to make extra repayments occasionally.
Before committing, compare personal loan offers in Australia and check the establishment fee that applies to your risk band. If you want predictable repayments, easy redraw access and no monthly account fees, Liberty Personal Loan is worth a close look — check eligibility and get a quick online decision.