The simplest way to manage your loan is through the BetterCredit app or online customer portal. Using the app or portal you can:
You can download the BetterCredit app from the Apple App Store or Google Play Store.
Once you’ve been approved for a loan with Jacaranda Finance and accepted your loan contract, we will automatically set up direct debits to deduct your repayments from your bank account in line with your pay cycle. This means repayments are deducted from your nominated bank account on a weekly, fortnightly or monthly basis, depending on your agreement.
You can keep track of previous and upcoming repayments as well as your outstanding loan balance all in the BetterCredit app or online customer portal. If you’d like to make changes to your repayment schedule, simply contact our customer support team.
Your repayment history is one of the largest contributors to your credit score. To maintain a healthy credit score, it’s important to make repayments on time and avoid missing payments. Missed or late payments could appear in your credit report and may result in your credit score decreasing. On the other hand, consistently making repayments on time could improve your credit score, under comprehensive credit reporting (CCR).
If you anticipate it may be difficult to make a repayment, we strongly encourage you to contact our customer support team as soon as possible. By reaching out to us early, it can help us to understand your circumstances and, where appropriate, discuss available options.
If you do miss a repayment, a $35 late payment fee will be applied to your account. If this happens, our friendly customer support team will attempt to contact you within a reasonable timeframe to discuss your situation and notify you of the missed payment and fee.
Depending on how long your payment is outstanding, additional consequences may apply. This could include any late payments appearing on your credit report and potentially impacting your credit score. If you continue to miss repayments, it may result in a default on your loan. Defaults are serious and could remain on your credit report for up to 5 years. Other lenders will be able to see this information in your credit report. This could result in it being more difficult for you to access credit products in the future.
If your circumstances have changed or you're experiencing financial hardship, it’s essential that you contact us as soon as possible.
Our customer support team is trained to assist customers experiencing hardship but can only help if they are aware of your situation. Reaching out early gives you the best chance to explore suitable options and get back on track.
When you are accepted for a loan with Jacaranda Finance, it’s important to consider that additional fees may apply. Set fees include our establishment and monthly fees. A one-off risk fee may also be applied to your balance. If this happens, we will retain this fee at the start of the loan.
For every missed payment, a fee will be applied. This cost is added to the account balance and can be paid with the next repayment cycle. If you’re concerned you’ll miss a repayment before the next due date, please contact our customer support team as soon as possible.
You can pay your loan back at any time at no extra cost. That means no early exit or payout fees.
To pay out your loan early or make additional repayments, simply log into your account using the BetterCredit app or online customer portal and choose from our range of options including card payments, bank transfer or direct debit.
When you’ve been approved for a loan with Jacaranda Finance and accepted your loan contract, we will automatically set up direct debits to deduct your repayments from your bank account in line with your pay cycle. If you wish to make changes to your repayment schedule, you can submit a request via the BetterCredit app, online customer portal or by contacting our friendly customer support team.
$3,000 - $25,000
