Plenti Personal Loan Review

Find out all about Plenti personal loans and compare your options today right here with Savvy.

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, updated on October 4th, 2023       

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As one of the country’s leading personal financiers, Plenti is an option worth considering when it comes to comparing personal loan offers from around Australia.

It’s important to know the ins and outs of your loan before you start the application process, as you’ll want to know for certain whether the deal is the best available to you.

Fortunately, Savvy is here to help you. We make comparing personal loans simple, so you won’t have to stress about spending hours researching offers. Start the comparison process today and see your funds sooner.

*Savvy is partnered with Plenti for their personal loan product.

Plenti logo

The features and benefits of Plenti personal loans

Rates starting at 6.39% p.a.

With interest rates offered from 6.39% (which can also come with 6.39% p.a. comparison rates), you can lock in an affordable rate from the outset of your loan.

Borrow up to $50,000

Loan amounts start as low as $5,000 and reach as high as $50,000, making them suitable for a wide range of potential uses, whether big or small.

Repay over as many as seven years

Importantly, borrowers can take as long as seven years to repay their loan or opt for a shorter loan of just one year, enabling you to tailor your repayments to your needs.

No ongoing fees

Ongoing fees can add up over the life of your loan and end up costing you hundreds of dollars more, but you won’t have to worry about any other regular loan charges.

Free early repayments

Crucially, you can pay down your loan ahead of schedule without incurring any additional costs for doing so, enabling you to save money on interest in the process.

Secured or unsecured loans

Aside from the standard unsecured personal loan, Plenti also offers secured personal financing if you wish to take advantage of an asset you own to improve your borrowing power or interest rate.

The pros and cons of a Plenti personal loan


Fast online application

The forms to fill out on the Plenti website are 100% online and are fast and easy to complete, with funding available within two days of submitting your application.

Choose between fixed or variable interest

Whether you wish to lock in your rate from the outset to improve your budgeting capacity or leave it variable to take advantage of greater flexibility, you can do so with Plenti.

Use your funds however you like

As with all personal loans, you’re free to use your Plenti personal loan funds with your family however you wish, unlike other loans designed to cover the cost of a specific purpose.


Only available to applicants with good credit

If you’ve struggled with your credit score or are an inexperienced borrower who has little to no credit history, you’re unlikely to be able to be approved through Plenti.

Application fee may apply

Although you can secure an application fee of $0 in some instances, you may be charged one amounting to more than $600 in certain circumstances, so it’s important to be aware of this.

Only monthly repayments available

You’re only given the option to set your repayment frequency to once per month, while other lenders can afford you the opportunity to do so either weekly or fortnightly.

More about Plenti personal loans

How do I apply for a Plenti personal loan?

The process of applying for a personal loan with Plenti is a fast and simple one, but you should still familiarise yourself with the different steps along the way before submitting your application. However, what’s also important to do is to compare personal loans with Savvy before you apply, as this will give you greater confidence that the right decision is being made and that you’re getting the best deal available to you. You can also use our personal loan calculator on your Plenti or any other loan to work out how much it may end up costing you. The process of getting approved for a Plenti personal loan for you or your family is:

Compare your options

As mentioned, you should consider the wide range of offers on the market, which you can also do here with Savvy. Once you’re satisfied that Plenti is the best option for you, you can move ahead with your application via their website.

Get your rate estimate

Once you’ve done this, you can find out an estimate of your interest rate by filling out a quick form. This should only take you a minute or so to complete and doesn’t affect your credit score, so you don’t have to worry about taking a hit on your file for doing so.

Send your application

After you’ve received your indicative rate from Plenti, you can move on to your formal application. This will require you to supply a few more details about yourself and provide copies of documentation relating to your identity, income and financial situation.

Get approved and receive your funds

If Plenti is satisfied with your application, you’ll be notified of its success and sent a loan agreement to sign. You can do this electronically and return it, after which you can have your personal loan funds advanced directly into your nominated bank account.

What are the eligibility criteria for Plenti personal loans?

It’s important to review the criteria for any personal loan before you apply, as you should always ensure that you’re eligible before moving ahead with your application. Not taking the care to do so can cause avoidable delays and rejections appearing on your credit file. Some of the key eligibility criteria to meet are:


Loans are primarily available to Australian citizens and permanent residents, as well as New Zealand citizens. On top of this, several temporary visas are accepted by Plenti. If you’re living in Australia on a temporary visa, you should check to see whether it’s considered eligible by the lender.


Applicants are required to be earning a minimum of at least $30,000 annually from one or more stable sources of income.


The amount of time required to have been employed at your current place of work depends on your employment type. For instance, full-time employees will need to have at least three months under their belts in their current job, while part-time or casual workers will need to have held their job for six months or more. Self-employed borrowers will need to have been operating for a minimum of 12 months prior to their application.

Credit history

Applicants will need to have a relatively clean credit history without any bankruptcy, paid or unpaid defaults, current credit arrears or debt collection activity or more than two dishonours over the past 90 days.

Common Plenti personal loan questions

What is a Plenti green personal loan?

A green loan is a personal loan designed for the purpose of purchasing environmentally friendly items or assets. These usually pertain to installations in your home which offer renewable energy, such as solar panels, window double glazing, greater insulation, water tanks and other energy-efficient white goods. You’ll need to confirm with Plenti whether your chosen product is eligible for the loan before you apply.

Does the city I live in have an impact on the loan I receive?

No – because Plenti is 100% online, the city or state you live in has no real impact on the loan you can be approved for. Whether you’re living in a capital city such as Adelaide, Canberra, Hobart or Perth or a more regional town, you can be approved for the loan you’re looking for online.

Will I be able to use a personal loan for a deposit on my house?

Yes – some mortgage lenders will accept personal loan funds for a deposit on your home loan. However, this isn’t the case with all financiers and may not end up being the best option for you, given that you’ll be required to repay a more substantial amount overall, likely at a higher interest rate than the mortgage itself. If you can save up funds to put towards the mortgage, you should try to do so.

Is there any way to get a no-fee personal loan?

Yes – at Savvy, we’re partnered with lenders who can offer you a personal loan without any fees. These loans are often highly desirable due to the fact that they can save you a considerable amount of money overall, so you should always consider fees and comparison rates (which incorporate both interest and fees) when comparing different personal loan offers.

Is it worth getting pre-approval for a personal loan?

Yes – getting pre-approved for your personal loan will give you a clearer understanding of what you’re able to borrow before you actually receive formal approval. If you’re using your personal loan to buy something in particular, pre-approval sets a defined budget within which you’ll likely have to borrow. This can save you from over-spending and ending up out of pocket on your purchase. You can also use Savvy’s personal loan calculator for Plenti or other lenders to determine what your repayments are likely to be.

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