Easy Street Financial Services
Easy Street Financial Services is a division of Community First Credit Union, which is the largest community-based credit union in Sydney. Easy Street is member-owned, which means it does not have any external shareholders.
Easy Street does not operate any bank branches or stores. Rather, they operate entirely online.
Community First Credit Union serves over 75,000 members across Australia. Any Australian resident over the age of 18 is eligible to become a member of Easy Street Financial Services.
Easy Street Financial Services personal loan repayment calculator
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Pros and cons
- Additional repayments allowed
- Free redraw facility
- Below-average interest rates
- Limited loan options
- Charges an application fee
- No branch access
Easy Street Financial Services personal loans rates
based on $30,000 loan amount for 5 years at 9.27%
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Features of an Easy Street Financial Services personal loan
As a small personal loan lender, Easy Street Financial Services has a thin range of loans available. However, Easy Street operates entirely online, which makes it easier to provide lower rates and fees.
Easy Street Financial Services offers fixed-rate loans ranging from $5,000 to $35,000. Easy Street does not require a deposit or security, and has a maximum loan term of five years.
Easy Street Financial Services allows additional repayments and redraw facilities without fees. Easy Street charges a one-off application fee but does not charge monthly or ongoing fees.
Easy Street personal loan rates tend to be moderately low.
Easy Street Financial Services personal loans - customer service
Customers can reach Easy Street Financial Services customer service via phone, email or online enquiry. Easy Street customer service operates during business hours only.
Customers have access to their loan at any time through an internet banking portal.
Who is eligible for an Easy Street Financial Services personal loan?
- Must be at least 18 years old
- Must be a permanent Australian resident or citizen, or on an approved Australian working visa
- Must have regular income
- Must not be bankrupt
- Must not have defaulted on any loans, credit cards or store cards in the last five years
How to apply for an Easy Street Financial Services personal loan?
- Customers can apply online or over the phone
- If applying online, click ‘Apply Now’
- Sign into your Easy Street Financial Services account
- Complete the online application form
- Submit the online application form and wait for a response
Easy Street Financial Services personal loans review
Easy Street Financial Services personal loans are suitable for a range of borrowers. Easy Street Financial Services provides personal loans with fixed-rate loans of up to $35,000. Customers can choose a loan period of up to five years. Easy Street Financial Services does not require customers to provide a deposit or security to secure a personal loan.
Easy Street Financial Services personal loans have flexible features, including additional repayments and redraw facilities with no penalty. Easy Street does not charge any ongoing fees, though customers are charged a one-off application fee.
Easy Street’s personal loan interest rates tend to be moderately low.
Because so many online lenders exist in Australia, it’s advisable to compare personal loan rates. By comparing rates from a variety of lenders, you may be able to find the best personal loan rates for your specific financial situation.
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What is a bad credit personal loan?
A bad credit personal loan is a personal loan designed for somebody with a bad credit history. This type of personal loan has higher interest rates than regular personal loans as well as higher fees.
Can you refinance a $5000 personal loan?
Much like home loans, many personal loans can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.
If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.
How much can you borrow with a bad credit personal loan?
Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans, they also get loaned less money. Each lender has its own policies and loan limits, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.
Do student personal loans require security?
While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, which typically have higher interest rates.
Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will fully or partially guarantee the loan, taking on the financial responsibility if the borrower defaults.
Should I get a fixed or variable personal loan?
Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.
A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent. You won't have to worry about higher repayments if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.
Can single mothers get personal loans online?
Many lenders offer online applications for personal loans, which can be convenient for borrowers who have busy lives. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.
How can I get a $3000 loan approved?
Responsible lenders don’t have guaranteed approval for personal loans and medium amount loans, as the lender will want to check that you can afford the loan repayments on your current income without ending up in financial hardship.
Having a good credit score can increase the likelihood of your personal loan application being approved. Bad credit borrowers who opt for a medium amount loan with no credit checks may need to prove they can afford the repayments on their current income. Centrelink payments may not count, so you should check with the lender prior to making an application.
What are the pros and cons of personal loans?
The advantages of personal loans are that they’re easier to obtain than mortgages and usually have lower interest rates than credit cards.
One disadvantage with personal loans is that you have to go through a formal application process, unlike when you borrow money on your credit card. Another disadvantage is that you’ll be charged a higher interest rate than if you borrowed the money as part of a mortgage.
Can I get a no credit check personal loan?
Personal loans with no credit checks are available and called ‘payday loans’. These are sometimes used as short-term solutions for cash-strapped Australians. They often carry higher interest rates and fees than regular personal loans, and individuals risk putting themselves into a worsened cycle of debt.
What is a personal loan?
A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan. However, the process is easier and faster than taking out a mortgage.
Loan sizes typically range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.
What is the average interest rate on personal loans for single parents?
Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.
Are there low doc personal loans?
Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.
It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.
What do single parents need for a personal loan application?
Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:
- Proof of identity
- Proof of residence
- Proof of income
- Details of assets (e.g. car, home)
- Details of liabilities (e.g. credit cards, other loans)
- Loan amount
- Loan term
Can I get guaranteed approval for a bad credit personal loan?
Few, if any, lenders would be willing to give guaranteed approval for a bad credit personal loan. Borrowers with bad credit histories can have more complicated financial circumstances than other borrowers, so lenders will want time to study your application.
It’s all about risk. When someone applies for a personal loan, the lender evaluates how likely that borrower would be to repay the money. Lenders are more willing to give personal loans to borrowers with good credit than bad credit because there’s a higher likelihood that the personal loan will be repaid.
So a borrower with good credit is more likely to have a loan approved and to be approved faster, while a borrower with bad credit is less likely to have a loan approved and, if they are approved, may be approved slower.
What is an unsecured bad credit personal loan?
A bad credit personal loan is ‘unsecured’ when the borrower doesn’t offer up an asset, such as a car or jewellery, as collateral or security. Lenders generally charge higher interest rates on unsecured loans than secured loans.