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Personal Loans

PERSONAL LOANS

Personal Loans are granted for multiple reasons such as personal, vehicles, boats, medical, family, education, vacation, white goods, and for household extensions and repairs.

These loans can be unsecured which are assessed on a borrower’s past credit history or secured by an asset. Secured loans tend to come with a lower interest rate.

Loan limits tend to be between $5,000 to $50,000

Loans terms are between 1 to 7 years

Repayments are is usually a fixed amount over a fixed term which can be paid weekly, fortnightly or monthly.

When assessing your application, Lenders will look at your credit report and ask for supporting documents such as:

  • Living expenses budget
  • Payslips
  • Bank account statements
  • Copies of all other loan or credit card statements, and
  • Proof of planned purchase for larger value loans

For more information check out the Federal Governments Moneysmart site.

To help you develop a budget use the Moneysmart Budget Planner.

To arrange a Personal Loan please Contact Us.

Find your local YFG Broker