How to get a personal loan with an average credit score

Even if you have a few dents in your credit score, you may still be able to get a personal loan. Find out how to apply for a personal loan with an average credit score.

Is there an age limit for personal loans in Australia?

One of the things lenders will look at when you apply for a personal loan is your age, but there are other criteria to be aware of as well.

Can you get a personal loan with a co-signer?

If you need a personal loan but fear that a low credit score might reduce your chances of getting one, you may be considering getting a personal loan with a co-signer. Find out how having a co-signer works.

Can a personal loan be used for tax exemption?

The interest you pay on personal loans are usually not tax-deductible, but they may be in some cases. It’s important to look at how the loan is spent.

Understanding personal loan insurance cover

Is it mandatory to take insurance for a personal loan? No, but it can safeguard you against unforeseen situations that may affect your ability to make timely repayments. You can buy a personal loan protection policy either when you take the loan or later.

Is it possible to get a personal loan for a house deposit?

Buying a home is a huge financial decision and needs careful consideration and planning. Getting a personal loan for your house deposit may be possible, but is likely to add complexity.

Should I get personal loan protection insurance in Australia?

A personal loan is a great way to fulfil your short-term financial goals. But this comes at high-interest rates, and there is little scope for mistakes. What happens if you’re forced into a situation where you miss your payment?

Why does my personal loan interest vary month to month?

If you aren’t quite sure how interest is calculated on your personal loan, it may come as a surprise learning that monthly interest charges vary even on fixed rate loans.

Can I have two personal loans at the same time?

No matter how much of a forward planner you are, there can be times when your financial needs change seemingly overnight.

Do I need to disclose my loan purpose?

When applying for a personal loan, you’ll most likely have a specific purpose in mind. But are you required to disclose this information on your application?