Find and compare personal loans in Western Australia

Whether you’re planning a wedding down in the Margaret River, want to take the family on a holiday from Perth to Broome or are considering home improvements in Fremantle, there are a lot of reasons to consider a personal loan in Western Australia.

There are a range of personal loan lenders offering financing options for Western Australians that may help you kick your goals, big or small. But it may be worth comparing your options and shopping around before you begin the application process to ensure you’re getting the best personal loan deal to suit your financial needs.

When it comes to personal loans, there’s no one size fits all approach. You may seek short-term financing (1-4 years) or look at longer loan term options (5-10 years), depending on your financial situation. Keep in mind that the longer you're making loan repayments on a personal loan, the higher the cost overall.

There are a range of personal loan types you may apply for, including:

• Debt consolidation loan
• New car or used car loans
• Holiday loans
• Wedding loans
• Home renovation loans
• Student loans
• Personal loans for shares
• Medical personal loans

A personal loan provider may not reject your loan application based on the purpose of your loan, but these are the most common types of personal loans that Aussies apply for.

Now you know the type of personal loan you’re looking for, it’s time to compare your options to find the best personal loan for your needs and budget.

Many Australians will assume that the most important part of a personal loan is finding one with a lower interest rate. However, while interest rates play an important role, there’s a lot more to a personal loan than the rate you’re offered.

Here are some factors and features to take into consideration when searching for your WA personal loan:

As with any credit product application, you’ll still need to meet strict lending criteria, including:

1. Being 18-years or older
2. Being an Australian citizen or permanent resident
3. Meeting minimum income requirements
4. Being employed in one role for a minimum amount of time
5. Having a good to excellent credit score

If you’re struggling to get a personal loan due to bad credit or a short, or no, credit history, you may want to consider bolstering your application. This may involve having close family or a friend come onto the personal loan as a guarantor, or in a joint application.

Keep in mind that mixing money with relationships can be tricky and create added financial stress if you were not able to service the loan, so consider your options carefully before making any decisions.