Primary purpose must be one of the following:
Most lenders have a minimum amount starting from $3,000.
Providing security will vary depending on your personal circumstances and the loan amount you have applied for.
Eligibility will include having regular income, being at least 18 years of age, and must be a Permanent Resident of Australia. Other criteria may apply.
Most Personal Loans have a fixed interest rate throughout the life of the loan, which makes budgeting easier and more manageable. Secured interest rates are slightly lower than unsecured.
Interest is calculated daily and charged to your account on a monthly basis.
Most lenders allow extra payments to be made, but an early termination fee may apply; depending upon how long you have left on your agreed term.
Maximum terms for personal loans are usually 7 years. Minimum terms usually start at 2 years. But these are not fixed criteria.
Be aware that fees apply.