Questions,
answered plainly.
The things people ask most about how Propential works. Can't find what you're after? Start a quick eligibility check, or get in touch.
What is Propential, exactly?
Propential is a fixed-term loan secured against a property you own. You borrow a set amount, repay it with principal & interest over a fixed term, and use it for a project on your property. It is not a revolving line of credit.
How much can I borrow?
Between $5,000 and $175,000, subject to our credit assessment and your capacity to repay.
What's the interest rate?
One clear rate of 17.95% p.a. A comparison rate applies once the establishment and monthly account-keeping fees are included.
Comparison rate 21.3% p.a., based on a $30,000 loan over 5 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
What are the fees?
A one-off establishment fee and a monthly account-keeping fee, both scaling with the size of your loan:
- $5,000 to $25,000: $975 establishment, $19.50 / month
- $25,001 to $50,000: $1,130 establishment, $24.50 / month
- $50,001 to $75,000: $1,285 establishment, $29.50 / month
- $75,001 to $100,000: $1,440 establishment, $34.50 / month
- $100,001 to $125,000: $1,595 establishment, $39.50 / month
- $125,001 to $150,000: $1,750 establishment, $44.50 / month
- $150,001 to $175,000: $1,905 establishment, $49.50 / month
The repayment figure in our calculator is principal & interest only; these fees are shown separately.
What terms are available?
1 to 7 years for loans up to $50,000, and up to 10 years for loans from $50,001 to $175,000.
How is the loan secured?
Against your property, by a caveat in most states and territories, or a second mortgage in Queensland and the Northern Territory. You continue to own and live in your home; the security is released once the loan is repaid.
Am I eligible?
You need to own a property in Australia, be comfortable with the loan being secured against it, and meet our credit and affordability criteria. The quickest way to find out is the eligibility check. It's instant and doesn't affect your credit file.
What can I use it for?
Property projects on the place you own: interiors, pools, fencing, landscaping, roofing and similar. If you're not sure whether your project qualifies, ask us.
How do I make repayments?
Principal & interest, paid monthly or fortnightly over your chosen term. The repayments steadily pay the loan down; there's no balloon payment at the end.
Can I pay it off early?
Yes. You can pay extra or pay the loan out in full at any time, with no early-repayment penalty.
Is this a quote or approval?
No. Anything you see in the calculator or eligibility check is indicative only. It is not a quote, approval, credit offer, agreement or financial advice, and every application is subject to credit assessment and our lending criteria.
Ready to see if it's a fit?