Personal Loan Articles

What happens if I miss a personal loan repayment?

While it’s not ideal, there may come a time when you miss a repayment for your personal loan despite your best intentions. But what could this mean for your financial health?

What is the minimum amount I can borrow on a personal loan?

When looking into getting a personal loan one of the first questions customers ask is how much money they’re eligible to borrow. But what if you only need to borrow a small amount?

Unsecured Loan (Excellent Credit)

Interest rates ranked in the best 20%No ongoing fees

Advertised Rate

6.45

% p.a

Fixed up to 10.49%

Comparison Rate*

6.45

% p.a

Fixed up to 10.49%

Go to site Money Place terms and conditions

If you have an excellent credit history, you may be able to lock in this personal loan interest rate for 3 to 7 years.

When I apply for a personal loan, will the lender contact my employer?

When applying for a personal loan you need to make sure your ducks are all in a row, meaning you’ve gathered all your personal documentation and ensured you’re meeting the eligibility requirements.

Can I use a personal loan to pay off a credit card?

Paying down debt on a credit card with a high interest rate can sometimes feel never ending, especially if a fair portion of your repayments is being absorbed by interest charges and not making much of a dent in the balance owing.

Do I need insurance for a personal loan?

Taking out a personal loan can be a big commitment, and it may take several years to pay off depending on your loan term. So, you might wonder if it’s necessary to take out insurance to cover yourself in the case of unexpected loss of income.

Find out what a personal loan can now cover | RateCity

Depending on the lender, a personal loan can cover almost anything. Big-ticket items like weddings, watercraft, debt consolidation, student fees and home renovations.

When should I consider a personal loan over a credit card?

Choosing between a personal loan and a credit card can be a tough financial decision. It’s worth weighing up the pros and cons of both options before you make any big purchases or consider paying off outstanding debt.

Take back control with debt consolidation

Debt consolidation can make budgeting easier because you’ll only have to worry about repayments on one debt, as opposed to multiple.

Find out what a personal loan can now cover | RateCity

Depending on the lender, a personal loan can cover almost anything. Big-ticket items like weddings, watercraft, debt consolidation, student fees and home renovations.

What is a short-term personal loan?

Whether you’ve been stung with an unexpected bill or your car has broken down, we’ve all been in situations where we need cash fast. And a short-term personal loan may be one solution you’ve come across.

What can personal loan statistics tell Australians about borrowing?

Personal loan statistics can tell you whether to refinance existing debt and the type of debt to prefer. You could check the latest statistics before applying for a loan.