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: The Interest Rates We Charge

When searching for loans, it is best to go for offers that come with competitive or even lower interest rates. The rate is charged into the loan you take, and getting those with higher ones significantly increases the amount you pay. Thus, it increases the chances of not being able to repay the loan obligations you’ve incurred. 


Given the effects of interest rates on loans, the abundance of lenders and available loan products, it is necessary for borrowers to understand the various types of interest rates and how they work.

Interest Rate: What Is It?

The interest rate is the amount that a lender charges when a borrower takes out a loan. Technically, the interest rate is the annual percentage rate or APR placed on top of the actual loan balance. Although lenders have their way of deciding on the amount of interest rates they can charge, these are usually based on the rates prescribed by the Reserve Bank of Australia. Given such, interest rates are expected to go up or go down.

Interest Rate Types

The most common types of interest rates are the following.

  • Variable Interest Rate

The variable interest rate charged on loans is heavily dependent on the cash rate that the Reserve Bank of Australia sets. The loan interest goes up when the cash rate increases. On the other hand, the loan interest goes down when the cash rate decreases. As a result, the loan repayment amount becomes variable. It either increases or decreases, depending on the current interest rate. 


  • Fixed Rate

As its name suggests, the fixed-rate interest rate is fixed and remains unchanged over a particular period which is usually within 1-5 years. This type of interest is not dependent on the cash rate. Instead, it protects borrowers against it. 


  • Split Loan

A split loan allows borrowers to divide their loans into two parts. Technically, the first part is charged with a variable interest rate, whilst the other is fixed. Given this setup, the borrowers are allowed to pay the loan off with reduced interest rates.


Why Should You Choose Mango Credit?

Mango Credit is among the few lending institutions in Australia that offer lower and competitive interest rates. Since 2001, we have made a bold move to create a new lending standard that positively impacts borrowers and investors. Considering the said commitment, Mango Credit has offered customised and realistic financing solutions to first-time borrowers and existing customers based on their financial needs. 


Presently, Mango Credit offers the best interest rate for bridging loans which starts from 1% per month. Meanwhile, the interest rate tied to the business loan we provide begins at 1% per month.

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.