Frequently Asked Questions
What is a comparison rate? +
The comparison rate includes the interest rate and most fees and charges for a stated example. It is a useful guide, but it does not include every possible cost and changes with the loan amount and term.
What credit score do I need for a personal loan? +
There is no universal Australian approval score. Each lender uses its own assessment and may consider your credit report, income, expenses, savings, existing debts and requested amount.
How much can I borrow? +
The available amount depends on the product, your verified income and expenses, existing debts, credit history and the lender's policies.
Fixed vs variable rate — which is better? +
Fixed rates give certainty — your repayments stay the same. Variable rates can change but often allow extra repayments and early payout without fees.
How long does approval take? +
Timing varies by lender, product and whether more evidence is required. A fast eligibility result is not the same as final approval or settlement.
Can I get a loan with bad credit? +
Approval is lender-specific and is not guaranteed. A lower score may reduce your options or increase the offered rate, so compare the total cost and avoid repeated full applications.
What documents do I need? +
Requirements vary. Lenders commonly ask for identity, income, expense, bank-account and existing-debt evidence; check the lender's current application list.
Are there fees for early repayment? +
Some products charge an early repayment fee and others do not. Check the credit contract, including any fixed-rate break or early termination cost.