Unsecured personal loans

Can I apply for unsecured personal loans online? How does it works?

Yes, you can apply for unsecured personal loans online in Australia. Many lenders offer online applications for convenience and efficiency.

First, you should compare different lenders to find the one that offers the best terms and interest rates for your needs. Look at banks, credit unions, and online-only lenders. Each lender will have specific eligibility requirements, such as minimum income, credit score, and residency status. Ensure you meet these criteria before applying.

Prepare the necessary documents (Proof of identity (driver’s license, passport), Proof of income (payslips, tax returns), Employment details, Bank statements, Proof of residence (utility bills, lease agreement)). Visit the lender’s website and complete the online application form. You will need to provide personal, financial, and employment information.

Once you’ve filled out the form and attached the necessary documents, submit your application. Some lenders offer instant pre-approval decisions. The lender will review your application and conduct a credit check. This process can take from a few minutes to a few days, depending on the lender.

If approved, you’ll receive a loan offer outlining the terms and conditions. Upon acceptance, the funds will be transferred to your bank account, typically within a few business days.

Can I get unsecured personal loans with bad credit?

Yes, you can get unsecured personal loans with bad credit in Australia. When applying for such a loans, you should consider, that banks typically charge higher interest rates for borrowers with bad credit to offset the increased risk.

The amount you can borrow and the repayment terms may be more limited compared to those offered to borrowers with good credit. Different lenders have varying criteria, so it's important to compare options. Some lenders specialize in loans for people with bad credit, like Online Lenders, Credit Unions and Peer-to-Peer Lenders.

To improve your chances to get a loan, you should make sure there are no errors on your credit report that could be negatively affecting your score. Demonstrating a steady income can help reassure lenders of your ability to repay the loan.

A co-signer with good credit can improve your chances of approval and may help you secure a better interest rate. Paying down existing debt can improve your debt-to-income ratio, making you a more attractive borrower.

Personal loan calculations for 1 year (example)

You can also get more detailed calculations by using our financial calculators.

Can I apply for unsecured loans with no credit check?

Yes, it is possible to get an unsecured loan with no credit check in Australia (Payday Lenders, Online Lenders, Cash Advance Providers), but such loans often come with specific characteristics and potential risks.

The first one is higher interest rates due to the increased risk for the lender. The loan amounts are usually smaller compared to traditional personal loans. The repayment terms are often shorter, sometimes ranging from a few months to a year. These loans may come with higher fees and charges.

What is the smallest unsecured personal loan I can get?

In Australia, the smallest unsecured personal loans typically start from around $500. However, the exact minimum amount can vary depending on the lender.

Are unsecured lines of credit a good idea?

Unsecured lines of credit can be a good idea for certain financial situations, but they also come with risks. The lines allows you to borrow as much or as little as you need up to your credit limit, and you only pay interest on the amount you borrow. You don’t need to put up any assets as collateral, making it less risky for your property.

The ease of access to funds can lead to overspending and accumulation of debt. There may be setup fees, annual fees, and other charges associated with maintaining a line of credit.

See the similar FAQ about Australian banks:

• BankVic calculators
• Bankwest personal loan approval time
• Calculators of Westpac Bank
• Commbank debt consolidation
• Commonwealth Bank personal loan approval time

Details of companies offering the financial services:

Australian Lending C

Head office’s address: 2/608 Liverpool Rd

Contact center: 1300-138-188

Mail address: 2/608 Liverpool Rd, Strathfield South NSW 2136

Web-site: https://www.australianlendingcentre.com.au

Bendigo and Adelaide Bank

Head office’s address: The Bendigo Centre

Contact center: 1-300-361-911

Phone: 61-2-8023-5417

Mail address: The Bendigo Centre PO Box 480 Bendigo Vic 3552

Web-site: http://www.bendigobank.com.au/

Swift code: BENDAU3B

Stock code: BEN

ABN: 11 068 049 178

BSB: 633-300

Beyond Bank Australia

Head office’s address: 100 Waymouth St

Contact center: 13-25-85

Phone: 61-8-8205-8888

Mail address: GPO Box 1430 Adelaide SA 5001

Web-site: http://www.beyondbank.com.au

Swift code: CUSCAU2S

ABN: 15 087 651 143

BSB: 805022

Cash Train

Contact center: 1300-034-626, 1300-733-009

Web-site: https://www.cashtrain.com.au/loan-types/payday-loans

Champion Loans

Head office’s address: 65 Aerodrome Rd

Contact center: 07-54-52-7400

Web-site: https://www.championloans.com.au/

Citibank

Head office’s address: 2 Park St

Contact center: 13 24 84

Phone: 61-2-8225-0615

Mail address: 2 Park St, Sydney New South Wales

Web-site: http://www.citibank.com.au

Swift code: CITIAU2X

Stock code: CTW

ABN: 88 004 325 080

BSB: 242 200

Community First Credit Union

Head office’s address: 67-73 St Hilliers Rd

Phone: +61-1300-132-277

Mail address: 67-73 St Hilliers Rd, Auburn NSW 2144

Web-site: https://www.communityfirst.com.au

Finance One

Head office’s address: 49 Dalrymple Road

Contact center: 611800346663

Web-site: https://financeone.com.au/

Fox Finance Group

Head office’s address: The Corporate Centre, 13

Web-site: https://www.foxfinancegroup.com.au/

Greater Bank

Head office’s address: 103 Tudor Street

Contact center: 13 13 86

Phone: +612 4921 9111

Mail address: Greater Bank PO Box 173, Hamilton NSW 2303

Web-site: https://www.greater.com.au/

Swift code: ASLLAU2CGBS

ABN: 88 087 651 956

BSB: 637 000

Great Southern Bank (former CUA)

Head office’s address: Brisbane

Phone: 1300-705-750

Web-site: https://www.greatsouthernbank.com.au/

BSB: 814-282

HSBC Bank

Head office’s address: 00 Barangaroo Ave

Contact center: 1-300-555-727

Phone: 1-3-4313-7690

Mail address: Level 36 Tower 1 International Towers Sydney 100 Barangaroo Ave, Sydney, New South Wales, 2000

Web-site: http://www.hsbc.com.au

Financial institution code: HBA

ABN: 48 006 434 162

Illawarra Credit Union

Head office’s address: 38-40 Young Street

Contact center: 13-22-49

Mail address: 38-40 Young Street Wollongong NSW 2500

Web-site: https://www.illawarracu.com.au

Latitude Financial Services

Head office’s address: 130 Lonsdale St

Contact center: 1-800-005-809

Phone: 61-287-478-178

Mail address: Level 18, 130 Lonsdale St, Melbourne, VIC 3000

Web-site: https://www.latitudefinancial.com.au/

Swift code: LATFAU3M

Financial institution code: LATF

Stock code: LFS

MONEYME

Head office’s address: 3/131 Macquarie St

Contact center: +61 1300-669-059

Web-site: https://www.moneyme.com.au

Plenti

Head office’s address: 14 Martin Pl

Contact center: +61-1300-768-710

Web-site: https://www.plenti.com.au/

RAC

Head office’s address: 832 Wellington St

Contact center: 13-17-03

Web-site: https://rac.com.au/

RACQ

Head office’s address: 7/515 St Pauls Terrace

Contact center: 13-19-05

Mail address: 7/515 St Pauls Terrace, Fortitude Valley QLD 4006, Australia

Web-site: https://www.racq.com.au/

Swift code: QTMBAU41

Financial institution code: QTM

ABN: 83 087 651 054

BSB: 514-000

Regional Australian Bank

Head office’s address: Technology Park, New England,

Phone: +61-132067

Mail address: Technology Park, New England, Madgwick Dr, Armidale NSW 2350

Web-site: https://www.regionalaustraliabank.com.au

Savvy

Head office’s address: 4 Clarke Street

Contact center: 1300-974-066

Mail address: Sydney, Suite 206, 4 Clarke Street,Crows Nest, NSW 2065

Web-site: https://www.savvy.com.au

Spotter

Head office’s address: Australia

Contact center: 1800-776-863

Web-site: https://spotterloans.com.au/bad-credit-loan/?cmp=adw_loantype&gclid=EAIaIQobChMI-oP16v-Z_wIVTQSLCh0vQQwgEAAYAyAAEgL39_D_BwE

Westpac Bank

Head office’s address: 275 Kent Street

Contact center: 13-20-32

Phone: 61-2-9155-7700

Mail address: 275 Kent Street, Sydney, NSW

Web-site: https://www.westpac.com.au/

Swift code: WPACAU2S

Financial institution code: WBC

Stock code: WBC

ABN: 33 007 457 141

BSB: 032-063