Mango Credit Interest Rates

Disclaimer: These Mango Credit Interest Rates are accurate at the time of publishing in May 2021 and are subject to change. Please contact us to confirm the most accurate interest rates at the time of your application. The information contained on this webpage is general in nature and does not take into account your personal circumstances. 

Mango Credit Interest Rates

You only deserve the best, especially when it comes to interest rates. That’s why Mango Credit makes affordable interest rates more accessible.

What’s an Interest Rate?

Interest rate covers a percentage of the loan’s principal amount. This is charged by lenders on the loans they offer, and it significantly affects the overall cost of borrowing money. 

 

When choosing the right loan, it’s always best to check the loan’s interest rates. Shopping for loans with lower interest rates is a common practice among borrowers. This helps them ensure that they’ll get the loan and interest rate that they can afford.


A loan’s interest rate gets influenced by various factors, such as the borrower’s credit score and the capacity to make interest payments. Someone who’s deemed as a bad credit holder due to defaults often has limited options to secure financing. Whilst most traditional lenders like banks will only cater to borrowers with good credit, private lenders like us at Mango Credit provide bad credit holders with opportunities to take out a loan without the rigorous process. 


When choosing a short-term loan, here are several interest rate options to consider.

Variable Interest Rate

A variable interest rate moves accordingly with the market. If the cash rates set by the Reserve Bank of Australia increase, your interest rate also goes up, along with your loan repayment. On the other hand, if the cash rate is down, your interest rate also decreases. 

Fixed-Rate Interest Rate

The fixed-rate interest rate is unaffected by the rise and fall in the cash rate. With this option, your rate is fixed and remains unchanged over a particular period which is usually within 1-5 years. An advantage to this kind of interest rate is that it protects the borrower from a sudden increase in the market’s interest rate. 

Split Interest Rate

A split-interest rate allows you to have a portion of your loan charged with a variable rate and the rest of it with a fixed rate.

Disclaimer: The interest rates of Mango Credit are precise at the time of publishing and are subject to change. To confirm the latest interest rates at the time of your application, don't hesitate to get in touch with us. All details written on this page are general in nature and do not consider any of your personal circumstances.