Personal loans are suitable for individuals who require an injection of cash for those personal reasons. It could be for a holiday, to purchase an older style car, furnish a home, to cover medical expenses, to fund a party, wedding, funeral or even to complete minor renovations around the house.
We have access to several personal loan providers who can assist with funding $5000-$40,000 within a week.
The exact interest rate is based on the overall perceived risk to the lender. Lenders will take the following into consideration:
- Secured or unsecured loan: You can use a unencumbered car, bike or boat as security to lower the interest rate. (subject to a valuation)
- Personal credit profile
- Living conditions i.e own home, renting, with parents
- Job status
- Asset & liability position
- Existing banking relationship
Loan terms vary from 1-7years and repayments can be either weekly or fortnightly.