CosmediLoans vs Plenti: Medical Loan Comparison
Quick Verdict
Plenti (formerly RateSetter) is a peer-to-peer lending platform offering competitive personal loan rates in Australia. Their rates are among the lowest in the direct lender market, starting from around 7.99% p.a. CosmediLoans compares Plenti alongside 20+ other lenders and can often match or beat their rate. Plenti is a strong direct option for borrowers with excellent credit. CosmediLoans is better for rate comparison, higher loan amounts, and patients who want broker support.
Feature Comparison
| Feature | CosmediLoans | Plenti |
|---|---|---|
| Maximum Amount | $2,000 – $100,000 | $5,000 – $50,000 |
| Interest Rate | From 6.99% p.a. (personalised) | From 7.99% p.a. (fixed) |
| Repayment Term | 1 – 7 years | 1 – 7 years |
| Lender Options | 20+ lenders compared | Single lender (Plenti only) |
| Establishment Fee | Varies ($0–$450) | $399 |
| Early Repayment | Depends on lender (many $0) | No early repayment fee |
| Funding Model | Traditional bank lending | Peer-to-peer lending |
| Best For | Comparing the full market | Borrowers with excellent credit who want peer-to-peer |
How CosmediLoans Works
CosmediLoans matches you with a personal broker who compares rates from over 20 lenders across Australia. Your broker finds the best rate for your procedure and manages the entire application process. The service is free, and the initial credit check is a soft pull with no impact on your score.
How Plenti Works
Plenti is a peer-to-peer lending platform where investor funds are matched to borrower loans. You apply online, and Plenti offers a rate based on your credit profile. They're known for competitive rates and a straightforward digital process. A $399 establishment fee applies to personal loans.
Who Should Use Which?
Choose CosmediLoans If…
- You want to compare Plenti's rate against 20+ alternatives
- You need a loan above $50,000 or below $5,000
- You prefer a broker who manages the full process
- You want to ensure you're getting the best rate available
- Your credit profile is imperfect and you need specialist lender access
Choose Plenti If…
- You have excellent credit and want a competitive direct rate
- You prefer dealing directly with the lender, no intermediary
- You like the peer-to-peer lending model
- You value no early repayment fees