Easy Street Financial Services Personal Loans
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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Easy Street Financial Services personal loans rates
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Personal Loan Fixed
based on $30,000 loan amount for 5 years
Fully drawn advance
- Additional repayments allowed
- Free redraw facility
- Below-average interest rates
- Limited loan options
- Charges an application fee
- No branch access
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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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.
It is hard, but not impossible, to qualify for a personal loan if you receive Centrelink payments.
Some lenders won’t lend money to people who are on welfare. However, other lenders will simply consider Centrelink payments as another factor to weigh up when they assess a person’s capacity to repay a loan. You should check with any prospective lender about their criteria before making a personal loan application.
The worse your credit history, the harder you will find it to consolidate your debts, because lenders will be less willing to lend you money and will charge you higher interest rates.
However, people with bad credit histories can make debt consolidation work by following this three-step process:
- First, find a lender willing to give you a bad credit personal loan. This process will be simplified if you go through a finance broker or use a comparison website like RateCity.
- Second, make sure the interest repayments on your new loan are less than the repayments on the loans being replaced.
- Third, instead of spending those savings, use them to pay off the new 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.
Some lenders are able to approve applications with little documentation and within minutes. However, there is a catch. People who take out easy/instant loans generally pay higher interest rates and are restricted to lower amounts than people who follow a traditional borrowing process.
Failing to repay loans and bills will damage your credit score. So will falling behind on your repayments. Your credit score will also suffer if you apply for credit too often or have credit applications rejected.
You're entitled to one free credit report per year from credit reporting bodies like Equifax, Dun & Bradstreet, Experian and the Tasmanian Collection Service. You can also get a free report if you’ve been refused credit in the past 90 days.
Credit reporting bodies have up to 10 days to provide reports. If you want to access your report sooner, you’ll probably have to pay.
Different credit reporting bodies may use different formulas to calculate credit scores. However, they use the same type of information: credit history and demographic profile.
They’re likely to look at how many credit applications you’ve made, which lender the applications were for, what purpose they were for, how much they were for and your repayment record. They’ll also look at your age and postcode. They’ll also look to see if you’ve had any bankruptcies or other relevant legal judgements against you.
Your score can change if your demographic profile changes or new information is added to your file (such as a new loan application) or existing information is removed from your file (i.e. because it has reached its expiry date).
Your credit history covers everything to do with applying for loans. It includes the number of loans you’ve applied for, the amounts you’ve borrowed and your record of meeting repayment schedules.
A person is deemed to have ‘bad credit’ when they have a poor history of managing credit and repaying debts.