Loans in Australia in 2017!

Minimum loan amount
$4000
Maximum loan amount
$40000
Minimum loan term
18 months
Maximum loan term
7 years
APR
8.95 - 16.95 %
Minimum age
18 years
Loan granting
Excellent
Online application
Apply Now nowfinance.com.au
Requirements:
  • - You must be at least 18;
  • - You must be an Australian citizen or permanent resident;
  • - You must be employed for at least 6 months;
  • - You must have no active payday loans;
  • - You must have no unpaid defaults;
  • - You must have not been bankrupt or have a court judgement;
  • - Single borrower only - no joint applications.
Representative example: Loan amount: $30 000, Loan term: 60 months, Total amount payable: $38 485, APR 8.95%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$300
Maximum loan amount
$6500
Minimum loan term
6 months
Maximum loan term
2 years
Max. APR
94.37 %
Minimum age
18 years
Loan granting
Good
Online application
credit24.com.au
Requirements:
  • - You must be a Permanent Resident;
  • - You must be aged 18 years or over;
  • - You must be employed and get paid into your bank account;
  • - You must have a good credit history;
  • - You must earn at least $1,000 in a month;
Representative example: Loan amount: $1000, Loan term: 6 months, Monthly payment: $230, Total amount repayable: $1920, APR: 38 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$4000
Maximum loan amount
$50000
Minimum loan term
12 months
Maximum loan term
7 years
Max. APR
14.01 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now westpac.com.au
Requirements:
  • - You must be 18 years of age or older;
  • - You must be a permanent resident of Australia;
  • - You must have regular permanent income.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $673.78, Total amount repayable: $24 616.14, APR: 12.99 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$ 5000
Maximum loan amount
$ 55000
Minimum loan term
12 months
Maximum loan term
7 years
Max. APR
15.85 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now nab.com.au
Requirements:
  • - You must be at least 18;
  • - You must be Australian resident;
  • - You must have a regular income.
Representative example: Loan amount: $ 20 000, Loan term: 7 years, Variable rate 13.69% p.a.
Minimum loan amount
$ 2001
Maximum loan amount
$ 35000
Minimum loan term
6 months
Maximum loan term
5 years
Max. APR
11.45 %
Minimum age
21 years
Loan granting
Good
Online application
Apply Now ratesetter.com.au
Requirements:
  • - You must be at least 21;
  • - You must be a Australian citizen or permanent resident;
  • - You must have had a good credit history for the last 5 years;
  • - You must have not been bankrupt in the last 7 years.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $638.42, Total amount repayable: $22 983.04, APR: 9.26 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$5000
Maximum loan amount
$50000
Minimum loan term
24 months
Maximum loan term
5 years
Max. APR
28.48 %
Minimum age
21 year
Loan granting
Good
Online application
Apply Now societyone.com.au
Requirements:
  • - Australian citizen or permanent resident;
  • - At least 21 years old;
  • - You earn more than $25,000 p.a.;
  • - You are able to afford the loan;
  • - You have at least 2 years of good credit history on the Credit Bureau;
  • - You are not in Hardship with any other financial provide;
  • - You do not have a pending, current or previous bankruptcy;
  • - The loan is for you, not for anyone else or a business.
Representative example: Loan amount: $10 000, Loan term: 3 years, Total cost of loan: $11264.49, Monthly repayment: $312.90, APR: 7.90 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$ 3000
Maximum loan amount
$ 30000
Minimum loan term
24 months
Maximum loan term
7 years
Max. APR
14.20 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now latitudefinanc...
Requirements:
  • - You must be at least 18;
  • - You must be Australian resident;
  • - You must be currently earning an annual income of $ 24000or more;
  • - You must have had a good credit history for the last 5 years;
  • - You must have not been bankrupt in the last 7 years.
Representative example: Loan amount: $ 20000, Loan term: 5 years, Monthly payment: $ 456, Variable rate 12.99% p.a.
Minimum loan amount
$5000
Maximum loan amount
$50000
Minimum loan term
12 months
Maximum loan term
7 years
Max. APR
13.95 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now anz.com.au
Requirements:
  • - You must be at least 18;
  • - You must earn a minimum of $15,000 per annum;
  • - You must be an Australian citizen, permanent resident or have a valid visa;
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $683.07, Amount repayable: $24,950.41, APR: 13.95%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$2000
Maximum loan amount
$20000
Minimum loan term
12 months
Maximum loan term
5 years
Max. APR
11.69 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now imb.com.au
Requirements:
  • - You must be at least 18;
  • - You must have a good credit history;
  • - You must have have a monthly income..
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $661, Total amount repayable: $23 808, APR: 11.69 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$1000
Maximum loan amount
$100000
Minimum loan term
12 months
Maximum loan term
7 years
Max. APR
11.99 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now cua.com.au
Requirements:
  • - You must be 18 years of age or older;
  • - You must be a permanent resident of Australia;
  • - Other loan criteria may apply.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $664.19, Total amount repayable: $23 910.82, APR: 11.99 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$3000
Maximum loan amount
$40000
Minimum loan term
12 months
Maximum loan term
5 years
Max. APR
12.99 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now stgeorge.com.au
Requirements:
  • - You must be 18 years of age or older;
  • - You must be a permanent resident of Australia;
  • - Other loan criteria may apply.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $673.78, Total amount repayable: $24 256.14, APR: 12.99 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$5000
Maximum loan amount
$125000
Minimum loan term
12 months
Maximum loan term
7 years
Max. APR
7.99 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now beyondbank.com.au
Requirements:
  • - You must be 18 years of age or older;
  • - You must be a permanent resident of Australia;
  • - Other loan criteria may apply.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $626.64, Total amount repayable: $2 558.86, APR: 7.99 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$3000
Maximum loan amount
$40000
Minimum loan term
12 months
Maximum loan term
5 years
Max. APR
12.99 %
Minimum age
18 years
Loan granting
Good
Online application
banksa.com.au
Requirements:
  • - You must be at least 18;
  • - You must have an Australian residential address.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $673.78, Total amount repayable: $24 580.14, APR: 12.99 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$1000
Maximum loan amount
$100000
Minimum loan term
12 months
Maximum loan term
10 years
Max. APR
11.89 %
Minimum age
18 years
Loan granting
Good
Online application
Apply Now bankaust.com.au
Requirements:
  • - You must be at least 18;
  • - You must be Australian resident;
  • - You must have regular income.
Representative example: Loan amount: $20 000, Loan term: 3 years, Monthly payment: $663.24, Total amount repayable: $23 876.48, APR: 11.89 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Useful information about financial products and debt management!



Attention!


Before you borrow:


Before you borrow money you should ask yourself whether your really need to spend the money and whether you can afford to pay back the money you're planning to borrow. Before borrowing ask yourself:
  • - Can the purchase wait until I can afford it without taking a loan?
  • - If the purchase is urgent is there another way I can get it? For example, ask employer for money advance, borrowing from family or friends.
  • - If the purchase is not urgent can I save up money?

You should never take a loan if:


  • - you want to take a loan to pay off other loans;
  • - you already have one or more loans;
  • - you already have other outstanding debts and/or missed payments;
  • - if you are not sure of your capability to pay the loan back on time.

If you still feel the need to take a loan you should pay attention to:


Look at your income and outgoings and think if you'll be able to pay all your bills and debts.Calculate how much you can afford to repay each month. If your budget shows that you'll have no money for extra payments then it means you can't afford to take a loan.


Make sure you have all the necessary paperwork:


  • - Proof of income - payslip, tax return report etc.
  • - Information about your current expenses - for example, bills, rent, other loans etc.
  • - Copy of your bank statement that shows your savings and other made repayments such as credit cards.
  • - Passport or drivers licence.

Age restriction:


All credit companies set the limit on age themselves. In most companies, loans are granted from the age of 18 and up to the age of 60–70.

APR:


Annual Percentage Rate represents an annual cost (in %) of borrowing. The APR takes factors such as interest rate and certain other fees and charges into account. In order to make it easier for you to compare one loan to other similar loans, lenders are required to tell you their APR before you sign an agreement. For example:

Lender A offers 3000 AUD for 360 days with an APR of 13.4 %

Lender B offers 3000 AUD for 360 days with an APR of 19.9 %

As it shows, in the scenario above, borrowing from Lender A would be a better idea, because you would get the same amount of money for the same term, but each month you would pay less interest.

Borrowing costs and fees:


  • - Some loans have variable interest rates, which means that interest rate can increase or decrease. You shouldn't take this type of loan in case you feel that you won't able to repay the loan if interest goes up.
  • - Establishment fee: some lenders may ask you to pay this fees when setting up your loan, this fee can't be more than 20% of the loan amount;
  • - Monthly loan administration fee: some lenders may ask you to pay monthly loan administration fee, however it can't me more than 4% of the loan amount;
  • - Early loan repayment fee: You may be asked to pay this fee if you decide to pay-out your loan early. This fee is calculated according to how much you still owe to your lender and for how long.
  • - Late payment charges: if you miss a payment you usually have to pay late payment charge, so make sure you never miss a payment to avoid extra charges, also please note that this can also affect your credit score, which can make it harder to borrow money in the future.
  • - Enforcement expenses: if you don't pay back your loan, your lender can go to court to recover the owed money, in such cases you will be asked to cover these expenses.
  • - Don't accept first loan you're offered, compare various lenders to make sure you get the best possible loan offer!

Loan term:


Choose the shortest loan term you can afford. Longer-term loans might seem appealing at first as there are lower monthly repayments, however it may turn out that the total repayment is higher. If affordable it's better to take a loan for shorter period of time and pay back higher amount of money each month.

If you're not able to pay back loan on time:


  • - Loan extension: If you realize that you will not be able to repay the loan on time, there is a service of loan repayment period extension, which is offered by many companies for an additional cost. Every credit company sets the fee for the service of extending repayment period itself.
  • - Credit holidays: the delay of loan payments for a certain amount of time is called credit holidays. Credit holidays are available in some cases, such as a temporary loss of working ability or loss of job. In most cases credit holidays are granted for a period from one month to one year.
  • - Seek for help: if you experience money problems, feel free to contact a financial counsellor, it's confidential and free of charge. For more information call financial counselling hotline 18000 007 007 or visit www.moneysmart.gov.au.

Before you borrow check if your lender is licensed:


To make sure credit provider is licensed, you can check ASIC Profession Register.

Personal loans


Personal loan is a good choice if you are in need of a certain amount of money for a certain cause – for example, home or garden improvement, travelling or study expense coverage (student loans).

The main characteristics of personal loan: large amounts of money and long terms of loan repayment.

Personal loan comparison on moneyguru24.com helps you choose the best personal loan that best suits your need.

The process of obtaining a personal loan


To get your money, in most cases, it is enough to submit an application online and wait for the positive decision from the loaner. However, the lender may require proof of your income.


Which is the best place to apply for a personal loan?


There are quite a lot of loan companies. We recommend you refrain from cooperating with companies that provide dubious service or companies with bad customer reviews. On our site you will find reliable companies that have been working in the field of crediting for a long time; among them – NOW Finance, Credit24, Westpac, NAB, Ratesetter, SocietyOne, Latitude, ANZ Fixed Rate Loan, IMB bank, CUA, St.George Bank, Beyond Bank, BankSA, Bank Australia and others.

Warning - do you really need a loan today?*


It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:
- for information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
- talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
- if you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94.

The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.


Attention!


MoneyGuru24 is not a bank, lender, broker or product issuer. MoneyGuru24 is not owned by a financial institution but is an independent company owned by private shareholders. All information provided on MoneyGuru24 has general and informative nature. Although MoneyGuru24 covers wide range of loan products and providers, keep in mind that those are not the only options available in the market and may not be the best fit for you. We do not consider your personal circumstances and financial situation and we are not recommending any particular products. If you choose to apply for a loan product through MoneyGuru24 website you will be dealing directly with the loan provider not with MoneyGuru24. It is recommended for you to read all relevant documentation given by the loan provider before accepting any financial product offer.

MoneyGuru24.com