Pioneer Credit Connect personal loan repayment calculator

Thinking about taking out a personal loan with Pioneer Credit Connect? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Pioneer Credit Connect personal loans compare with other options.

I'd like to borrow

$

Loan term

Credit Score ()

Your estimated repayment

at interest rate 10.00 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • No monthly fees
  • No early repayment fees
  • Lower rates for homeowners without credit default history
  • Most rates are higher than average
  • Application and dishonour fees
  • No branch access

Pioneer Credit Connect personal loans rates

Advertised Rate

9.99%

Variable

Comparison Rate*

10.28%

Repayment

$637

based on $30,000 loan amount for 5 years at 10.28%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Company
Pioneer Credit Connect
More details
Advertised Rate

12.99%

Variable

Comparison Rate*

13.29%

Repayment

$682

based on $30,000 loan amount for 5 years at 13.29%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Company
Pioneer Credit Connect
More details
Advertised Rate

11.99%

Variable

Comparison Rate*

12.28%

Repayment

$667

based on $30,000 loan amount for 5 years at 12.28%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Company
Pioneer Credit Connect
More details
Advertised Rate

14.99%

Variable

Comparison Rate*

15.29%

Repayment

$714

based on $30,000 loan amount for 5 years at 15.29%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Company
Pioneer Credit Connect
More details
Advertised Rate

16.99%

Variable

Comparison Rate*

17.29%

Repayment

$745

based on $30,000 loan amount for 5 years at 17.29%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Company
Pioneer Credit Connect
More details
Advertised Rate

18.99%

Variable

Comparison Rate*

19.30%

Repayment

$778

based on $30,000 loan amount for 5 years at 19.30%

Upfront Fee

$195

Features
Redraw facility
Extra repayments
Fully drawn advance
Secured
Go to site
Company
Pioneer Credit Connect
More details

Features of a Pioneer Credit Connect personal loan

Pioneer Credit Connect offers unsecured personal loans from $5,000 to $30,000 and secured personal loans from $5,000 to $50,000.

Personal loan interest rates range from moderate to high depending on whether the loan is unsecured or secured.

Pioneer Credit Connect personal loan rates will also depend on a borrower’s home ownership and credit default history. Typically, homeowners without a history of credit default will be able to secure lower interest rates than other borrowers.

Borrowers can expect an application fee from Pioneer Credit.

Pioneer Credit Connect does apply dishonour fees. However, there are no monthly fees or fees for early repayment.

Pioneer Credit Connect personal loans – customer service

There is no branch access for borrowers who would prefer face-to-face customer support.

Borrowers who do not require branch access have phone, email or online chat customer service options for assistance.

Who is eligible for a Pioneer Credit Connect personal loan?

  • Australian permanent resident or citizens
  • 18 years or older
  • Employed

How to apply for a Pioneer Credit Connect personal loan

  • Apply online or by phone
  • Additional info might be required after your application is completed

Pioneer Credit Connect personal loans review

Pioneer Credit Connect is an online and phone lender for those seeking personal loans from $5,000 to $50,000.

Pioneer Credit Connect personal loans are mostly for borrowers who need help with expenses such as buying a car, renovating their home, or consolidating their debt.

Pioneer Credit Connect does not offer assistance to borrowers in Australia who are looking to make a deposit on a home.

Current personal loan interest rates with Pioneer Credit Connect range from moderate to high. Typically, Pioneer Credit Connect’s lowest personal loan rates are offered to homeowners with no credit default in their history.

However, even those lowered rates are only considered to be moderate after borrowers compare personal loan rates from other lenders.

There are application and dishonour fees with Pioneer Credit Connect. However, Pioneer Credit Connect doesn’t charge monthly fees or early repayment fees.

Learn more about Pioneer Credit Connect

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.

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 $4000 loans have no credit checks?

Many medium amount loans for $4000 have no credit checks and are instead assessed based on your current ability to repay the loan, rather than by looking at your credit history. While these loans can appear attractive to bad credit borrowers, it’s important to remember that they often have high fees and can be costlier than other options.

Personal loans for $4000 are more likely to have longer loan terms and will require a credit check as part of the application process. Bad credit borrowers may see their $4000 loan applications declined or have to pay higher interest rates than good credit borrowers.

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.

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 do credit scores have to do with personal loan interest rates?

There is a strong link between credit scores and personal loan interest rates because many lenders use credit scores to help decide what interest rates to offer to potential borrowers.

If you have a higher credit score, lenders will probably classify you as a lower-risk borrower. That means they’ll be keen to win your business, so they may offer you a lower interest rate if you apply for a personal loan.

If you have a lower credit score, lenders will probably classify you as a higher-risk borrower. That means they might be concerned about you defaulting on the loan and costing them money. As a result, they might protect themselves by charging you a higher interest rate.

Can students with no credit history get loans?

It is possible for students with no available history of borrowing or managing money to get a personal loan, though it may be more difficult as well as expensive than for borrowers with a good credit history.

Having no credit history means having no credit score. While many lenders may consider having no credit score to be better than having a bad credit score, they may still consider it riskier to lend to an unknown borrower and may charge higher interest rates or fees than to borrowers with good credit scores.

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.

What are the pros and cons of debt consolidation?

In some instances, debt consolidation can help borrowers reduce their repayments or simplify them. For example, someone might take out a $7,000 personal loan at an interest rate of 8 per cent so they can repay an existing $4,000 personal loan at 10 per cent and a $3,000 credit card loan at 20 per cent.

However, debt consolidation can backfire if the borrower spends the extra money instead of using it to repay the new loan.

How can I improve my credit rating/score?

Your credit score will improve if you demonstrate that you’ve become more credit-worthy. You can do that by minimising loan applications, clearing up defaults and paying bills on time.

Another tip is to get the one free credit report you’re entitled to each year – that way, you’ll be able to identify and fix any errors.

If you want to fix an error, the first thing you should do is speak with the credit reporting body, which may take care of the problem or contact credit providers on your behalf.

The next step would be to contact your credit provider. If that doesn’t work, you can refer the matter to the credit provider’s independent dispute resolution scheme, which would be the Australian Financial Complaints Authority (AFCA).

AFCA provides consumers and small businesses with fair, free and independent dispute resolution for financial complaints.

If that doesn’t work, your final options are to contact the Privacy Commissioner and then the Office of the Information Commissioner.

Can I get a personal loan if I receive Centrelink payments?

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.

Which lenders offer bad credit personal loans?

Several dozen lenders offer bad credit personal loans in Australia. These are generally smaller lenders that aren’t household names.

How are credit ratings/scores calculated?

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).

What is bad credit?

A person is deemed to have ‘bad credit’ when they have a poor history of managing credit and repaying debts.