Need A Personal Loan?

A personal loan is when you borrow money, which you’ll repay plus interest in regular instalments over a set period (usually 3-5 years).

We can help you with personal loans tailer to suit you, to take you where you want to be. Whether it’s money for a renovation, car purchase, repairs, holiday, consolidating debt, education expenses, home renovations, unexpected bills or even a wedding!

Just talk to our Progressive Loans expert brokers and we can get your personal loan quickly and easily!

You have flexible options: you can choose to pay monthly, fortnightly or weekly, even make additional repayment along the way to save interest.

Get the personal loan that works for you

Let Progressive Loans to help you with your personal loan while you spend more time living

personal loans

How do personal loans work?

After your personal loan application has been approved, you’ll usually receive the money as one lump sum. You’ll need to pay this money back, plus interest, in weekly, fortnightly or monthly repayments. The main steps to get a personal loan are:

  1. Application:when you apply for a personal loan, you’ll need to show proof of income, bank statements and personal identification. If you’re applying for a secured loan, you’ll also need to provide details of your security asset.
  2. Assessment:the lender will look at your personal finances to work out if you can afford the loan.
  3. Credit check:responsible Australian lenders perform credit checks whenever someone applies for a loan. These checks help lenders work out if you’re a responsible borrower. They may also help determine your personalised interest rate.
  4. Contract:once your application has been approved, you’ll be asked to sign a personal loan contract. This confirms the length of your loan, the type of loan, and that you understand the fees involved.
  5. Repayment:some personal loans will let you choose weekly, fortnightly or monthly repayments, to better suit your budget.

What types of personal loans are available?

Personal loans are available with fixed or variable interest rates. Fixed interest rates will stay the same, while variable rates may rise or fall. If your variable rate falls, you’ll pay less interest with each repayment, but if rates rise, you’ll pay more.

Fixed rates can make your budgeting simpler, as you’ll have the same rate for the whole loan. However, you may miss out on savings if variable rates fall.

Do you own a car, a property, or other valuable asset, and want to save on a personal loan? Using your asset to apply for a secured personal loan may let you enjoy a lower interest rate, as there’s less risk to the lender.

But if you don’t own an asset that can secure a loan, or you don’t want to risk losing your security if you can’t afford the loan, unsecured personal loans are also available.



What is debt consolidation?

It’s the process of combining all of your existing debts (loans, credit cards etc.) into one new debt – such as a personal loan. When used as a debt consolidation loan, our Unsecured Loan could help you better manage your loan repayments. That’s because the debts are all in one place, with one fixed interest rate, one set of fees and charges, one set of repayments and a clear end date to paying off that debt.

How does debt consolidation work?

It works by using the funds from the new loan to pay off all the other outstanding forms of debt you have in one go.

How to get a debt consolidation loan?

The first step is to understand how much you owe. You may want to bring together statements for all the debts you want paid off so you can factor in:

  • Amount owed on each
  • Estimate your total monthly repayment
  • Interest rate on each (or comparison rate if available)
  • Monthly (and other) fees on each
  • Any break costs

Get the personal loand that is right for you

We are here to make your application as simple as possible. Book a meeting with us and let us do all the heavy lifting. Give us a call today!

Request an Appointment

Need a personal loan? We are here to help you get a personal loan that is right for you. Request an appointment!


Then, head to our repayment calculator below to get an estimate of what the repayments might be.

Repayment calculator