Every Breezy personal loan carries a fixed interest rate determined by the amount you borrow. Your rate is locked in from approval and never changes throughout your loan term. No variable movements, no market exposure, no unexpected increases.
Loan amounts from $2,100 to $4,999
Loan amounts from $5,000 to $14,999
Loan amounts from $15,000 to $70,000
Your interest rate is set by your loan amount at the time of approval and remains fixed for the entire loan term. There are three rate tiers based on loan size.
| Loan Amount | Interest Rate (p.a.) | Rate Type | Establishment Fee | Monthly Fee | Term Range |
|---|---|---|---|---|---|
| $2,100 to $4,999 | 39.9% | Fixed | 20% of loan | 4% of loan | 4 to 24 months |
| $5,000 to $14,999 | 34.9% | Fixed | 20% of loan | 4% of loan | 4 to 24 months |
| $15,000 to $70,000 | 29.9% Best | Fixed | 20% of loan | 4% of loan | 4 to 24 months |
Important: A dishonour fee of $27.50 applies when a scheduled repayment cannot be processed due to insufficient funds. There is no fee for repaying your loan early. All fees and the confirmed interest rate are set out in your loan contract before you sign.
The charts below show how the interest rate affects your estimated monthly repayment and total loan cost across different loan amounts and terms.
Unlike many lenders who assign individual rates based on credit scoring algorithms, Breezy uses a transparent tier-based system. Your rate is determined primarily by your loan amount. Here is how the system works.
The single most important factor in your rate is the loan amount you borrow. Borrowing $15,000 or more places you in the lowest rate tier at 29.9% p.a. Borrowing between $5,000 and $14,999 places you in the middle tier at 34.9% p.a. Amounts from $2,100 to $4,999 sit in the top tier at 39.9% p.a.
Once your loan is approved, your interest rate is fixed for the entire term. It will not change if the Reserve Bank of Australia adjusts the cash rate, and it will not change if you miss a repayment. The rate in your contract is the rate you pay from start to finish.
Choosing a 4-month term versus a 24-month term does not affect your interest rate. However, a longer term increases the total interest paid because you are borrowing for more periods. Your rate tier is set by the loan amount, not by how long you take to repay.
Breezy does not use credit scoring to set individual interest rates. Your credit profile and financial assessment determine whether you are approved and what loan amount you qualify for. The rate is then automatically set by which tier that approved amount falls into.
Breezy is an alternative lender designed to serve employed Australians who may not qualify for traditional bank finance. The approval process is faster, the eligibility criteria are broader, and the documentation requirements are simpler. The higher rate reflects this broader access and faster service delivery.
Your exact interest rate, all fees, the total repayable amount, and your scheduled repayment amount are all confirmed in your loan contract before you sign. There are no rates adjusted after approval and no conditions buried in the fine print.
Understanding the mechanics of interest calculation helps you make better decisions about loan amount, term, and whether early repayment makes sense for your situation.
Breezy personal loans use the reducing balance method to calculate interest. Under this method, interest for each repayment period is calculated on the outstanding principal balance remaining at that point in time, not on the original loan amount.
This means that each time you make a repayment, part of that payment reduces the principal. The next period's interest is then calculated on the smaller remaining balance. As a result, the interest component of each repayment decreases slightly over time while the principal component increases.
This method benefits borrowers who repay early. Because interest is charged only on the outstanding balance, settling the loan ahead of schedule stops the interest clock immediately and results in genuine savings compared to running the loan to its original end date.
The Formula: Monthly repayment = P × [r(1+r)^n] ÷ [(1+r)^n − 1] where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly repayments. The monthly fee is charged separately on top of this figure.
Figures are illustrative estimates only. Actual amounts are confirmed in your loan contract.
Your rate is fixed, but there are practical steps you can take to reduce the total amount of interest you pay over the life of your loan.
If your required amount is close to a tier boundary, borrowing slightly more may place you in a lower rate tier. For example, borrowing $15,000 instead of $14,500 moves you from 34.9% to 29.9% p.a. Model the total cost both ways before deciding.
A shorter repayment term means fewer interest periods and lower total interest paid. If your budget can accommodate higher monthly repayments, choosing 12 months over 24 months reduces the total interest component significantly.
There is no early repayment penalty on any Breezy loan. If you receive a tax refund, a bonus, or any windfall, applying it directly to your loan balance stops the interest clock early and generates real savings.
While a missed repayment only results in a $27.50 dishonour fee, it also means the principal is not reduced on that date as scheduled. Keeping repayments on track is the most reliable way to ensure the loan is settled within your planned term and budget.
Breezy personal loan rates are fixed, transparent, and confirmed in your contract before you sign. Apply online in minutes and receive a decision within 60 minutes during business hours.
Apply NowBreezy Loans Pty Ltd holds Australian Credit Licence 389610. Personal loans from $2,100 to $70,000. Interest rates: 39.9% p.a. for loans from $2,100 to $4,999, 34.9% p.a. for loans from $5,000 to $14,999, and 29.9% p.a. for loans from $15,000 to $70,000. All rates are fixed for the full loan term. Establishment fee of 20% of the loan amount applies at commencement. Monthly fee of 4% of the loan amount applies throughout the term. Dishonour fee of $27.50 per failed repayment. No early repayment fee. Loan terms from 4 to 24 months. Repayment figures shown are estimates only and are provided for illustrative purposes. Actual amounts are confirmed in your loan contract. Credit is subject to approval. This information is general in nature and does not constitute financial advice.