Loans.com.au is an online-only personal loan lender based in Brisbane. Loans.com.au does not operate any branches. Rather, its loan processes and services are provided online.
Since its establishment in 2011, Loans.com.au has served thousands of customers across Australia.
Loans.com.au uses a team of loan specialists to provide a range of personal loans to its customers. Because it does not have large overheads, it is able to offer reasonable personal loan interest rates and fees.
loans.com.au personal loan repayment calculator
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Pros and cons
- Personalised rates
- No ongoing fees
- Early payout allowed
- Poor credit borrowers may pay higher rates
- Charges an establishment fee
- No branch access
loans.com.au personal loans rates
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Features of a Loans.com.au personal loan
Loans.com.au uses a team of loan specialists to offer flexible personal loan solutions. Customers can choose from a range of loans and decide to make repayments weekly, fortnightly or monthly.
Loans.com.au personal loans have a maximum amount of $100,000 and loan terms of three, four or five years.
Loans.com.au does not charge any ongoing fees or discharge fees, but does charge an above-average establishment fee.
In terms of personal loan interest rates, Loans.com.au tends to be low, but rates may depend on your financial situation and credit history.
Loans.com.au personal loans – customer service
Customers can contact Loans.com.au by phone, email and online chat. Customers can also complete a form to request a call from a customer service or financial specialist.
Loans.com.au phone lines are open from 7am-7pm (AEST) on weekdays.
Who is eligible for a Loans.com.au personal loan?
- Must be at least 18
- Must be an Australian permanent resident or citizen
How to apply for a Loans.com.au personal loan?
- Click ‘Apply’
- Enter your personal details
- Complete the online application
- Submit the online application
Loans.com.au personal loans review
Loans.com.au offers tailored personal loan solutions, making them potentially suitable for a wide range of borrowers. Loans.com.au offers personal loans of up to $100,000 with a loan term of three, four or five years.
In terms of fees, Loans.com.au is reasonable. Although it charges an above-average establishment fee, there are no ongoing fees and no early exit fees. Borrowers can make additional repayments in order to pay their loan early.
Loans.com.au personal loan rates vary depending on your financial situation, credit history and loan needs. Loans.com.au’s current personal loan interest rates start very low, but can change with each borrower. Those with poor credit may be given a higher rate than those with perfect credit.
To find the best personal loan rates before you apply, it’s best to compare personal loan rates available to you.
Learn more about personal loans
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.
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.
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.
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.
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.
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.
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.
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 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.
Are there emergency loans with no credit checks?
While many personal loans require a credit check as part of the application process, some personal loans and payday loans have no credit checks, which may appeal to some borrowers with a bad credit score.
Keep in mind that even if a loan is available with no credit check, the lender will likely want to confirm that you can afford the repayments on your current income.
What are the pros and cons of bad credit personal loans?
In some instances, bad credit personal loans can help people with bad credit history to consolidate their debts, which can help make it easier for them to clear those debts. This is because the borrower might be able to consolidate several debts with higher interest rates (such as credit card loans) into one single debt with a lower interest rate and potentially fewer fees.
However, this strategy can backfire if the borrower spends the loaned funds instead of using it to repay the new loan. Another disadvantage of bad credit personal loans is that they have higher interest rates than regular personal loans.
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 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 unemployed single parents get personal loans?
It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments.
If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan options. Consider contacting the lender 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.