A personal loan allows you to borrow a sum of money and then repay it over time, with interest.

These loans can be either secured (where the finance company takes an asset as security) or unsecured (where only your personal guarantee is required).

Personal loans are often a fast way to access cash for a wide variety of purposes.

Making an enquiry to discuss your circumstances, get finance quotes and fact-find will not affect your credit score. You can discuss all your requirements with a loan specialist.

When you are happy with your indicative quotations and wish to proceed, the lender may perform a ‘hard’ credit search. This is normal and is noted on your credit history. It can affect your credit score, so your consent is required before this happens.

You can use a personal loan for many different purposes, including starting a business or developing business ideas.

However, there are specific and more suitable business loan products that are designed to support established businesses that have been trading for longer than 6 months. Please click here to learn more.

We have access to 40+ lenders across the market, so whether you have excellent or bad credit we have options available. You will, however, have a better chance of getting approved if you have a higher credit score.

When all the required information is provided, lenders generally respond the same day with an outcome. But some more complex applications may take between 24-48 hours.

Please provide your details through our online application and one of our finance partners will be in touch with you shortly.

Our Partners aim for an outcome the same day. They can then send funds to you in less than 24 hours – provided all the required information is at hand.

Approvals can last up to 90 days, so get ‘Pre Approved’ today.

The maximum amount you can borrow depends on your credit history, your current financial situation and what you plan to use the money for. Depending on your circumstances, you’ll be able to borrow between $10,000 and $200,000.

The minimum qualification requirements for a personal loan are:

• You must be over 18 years of age
• Be employed or self-employed
• Have a minimum income before tax and super of $23,000
• Be a Permanent Resident or Citizen

Each lender reserves the right to include further credit criteria. These criteria ensure loan affordability and confirm the creditworthiness of the applicant.

A personal loan can be used for any number of purposes, from consolidating debt, taking a holiday, getting married, paying your medical or legal expenses and much more… If you are looking for home improvement loans then see our home improvements loans page.

Loan terms can range from two to seven years, with four to five years being an average contract term. As a rule of thumb, the longer the loan term, the lower the repayments.

Loan repayments are based on three main factors:

1. the amount you borrow;
2. the term of the agreement;
3. the interest rate.

All these combined determine the repayment amount. Other factors like loan fees and balloons may also affect the monthly repayment amount.