Personal Loans

A personal loan is a type of financing taken by individuals in order to meet an immediate financial need. Personal loans can be used for various purposes like debt consolidation, home renovation, medical bills, travel, wedding, buying a car, etc.

To qualify for finance you need to:

• Be over 18 years old.
• Be an Australian citizen or permanent resident*
• Be currently employed**
• Earn at least $400 per week (after tax)
• Not be in an undischarged bankruptcy or part 9 debt agreement. 
  
  

  *We may be able to help if you have a visa with more than 2 years remaining.
  **Min 1-month permanent employment (full or part-time) with continuation of the same industry (probation periods may be considered) - Or 6 months casual employment.
  *** We may be able to help if you are employed full time and more than half of your bankruptcy period has passed.

Yes, you can get approved for a bad credit personal loan. At Ausloans we believe in assessing your circumstances and finding a solution that best suits you, so if you have bad credit or you are currently on Centrelink we might be able to help you. To help bad credit personal finance applicants or Centrelink personal loan applicants, we created 1800Approved; an established finance brand specialising in credit rehabilitation for mid and subprime lending for both consumer and commercial applicants. We do this with the help of our 40+ lender portfolio, so give us a call or apply now for an assessment that will not damage your credit score. 

A deposit is not required to obtain a personal loan. At Ausloans, we offer no deposit personal loans. 

Our personal loans interest rates can vary depending on the age of the asset you are buying, your credit file, credit score, assets and liabilities. Our rates start as low as 6.29% p.a* (Comparison Rate 8.19%) depending on the consumer profile. 

First, you will need to provide and confirm your contact details, address, employment details and a breakdown of your regular expenses. 

Additionally, due to responsible lending laws, you will be required to provide a drivers licence, payslips and or bank statements which you can upload digitally through the Ausloans online app.

Yes, you can pay your personal loan early, however, we recommend you to speak with your assigned Ausloans broker as some lenders may ask for an exit fee. 

Refinancing any loan is always an option however when you refinance your personal loan you will need to prove that your financial situation has changed and that you are now in a better position to service a loan.