Key Fact Sheets

Resource Library

We understand that taking out a loan is a big decision, and it is important that you carefully consider all the implications before committing to borrowing money from Jacaranda. That's why we offer a 48-hour Cooling-Off Period, which gives you the right to cancel your loan application even after you have signed your contract and received the funds in your bank account.

The Cooling-Off Period is an important tool at your disposal to ensure you are making the right financial decision. During the 48-hour timeframe, you may change your mind and rescind the loan contract without any penalties or fees provided you return the total loan principal that has been advanced by Jacaranda.

It is important that you are aware of the key terms and conditions relating to the Cooling-Off Period, including: (1) commencement of the Cooling-Off Period; (2) making a loan cancellation request; (3) car loan cancellations; and (4) consolidation loan cancellations.

(1) Commencement of the Cooling-Off Period

The Cooling-Off Period commences on acceptance of your loan agreement. For example, if you sign your digital contract at 12:00pm on Monday, you can make a loan cancellation request at any time until 12:00pm on Wednesday.

(2) Making a Loan Cancellation Request

To exercise your right to cancel the loan agreement during the Cooling-Off Period, all you need to do is contact our friendly customer service team via phone or email to make a loan cancellation request.

In order for your loan cancellation request to be processed, you must provide proof that the loan principal advanced by Jacaranda has been returned before the Cooling-Off Period has expired. This can be in the form of a remittance advice or a payment receipt from your financial institution. Please note that a loan cancellation request cannot be accepted until the total loan principal has been received in the Jacaranda bank account.

(3) Car Loan Cancellations

The loan principal you have been advanced includes any amounts paid to third party creditors as part of your car loan.

Jacaranda requires monetary payment in order to discharge any loan agreement. Returning the vehicle that is subject to your loan agreement does not end your agreement with Jacaranda.

You may need to contact the third-party seller of the vehicle. New and used car dealers also offer cooling off periods of various lengths depending on the state in which the vehicle has been purchased. If you are unable to return the total loan principal to Jacaranda during the Cooling-Off Period, your loan cancellation request may be rejected.

(4) Consolidation Loan Cancellations

The loan principal you have been advanced includes any amounts paid to third party creditors as part of your consolidation loan.

For example, if you consolidate $10,000 of debt with other finance providers, whether that is paid by us on your behalf, or you have paid the debts yourself, you are required to return the full $10,000 principal amount borrowed to the Jacaranda bank account. If you are unable to return the total loan principal to Jacaranda during the Cooling-Off Period, your loan cancellation request may be rejected.

Once you’ve applied for a loan, we’ll get back to you with a fast outcome . For most customers, we verify the information you provide us and get back to you with an outcome on your application on the same day2 during normal business hours.

Upon approval, your money will be available in as little as 60 seconds once you have signed your contract. To achieve these speeds, you must have a New Payments Platform (NPP) bank account that is PayID enabled to receive our attempt to automatically release the money to your bank account.

Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds.

For customers without an NPP-enabled bank account (or where the instant payment fails), the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.

What is the NPP?

The New Payments Platform (NPP) was launched in February 2018 as a collaborative effort between 13 of Australia’s biggest banks and financial service providers - including the big four banks and the Reserve Bank of Australia.

The NPP is open access infrastructure designed for fast (near real-time) payments in Australia. It was developed to support secure, innovative, data rich payment services to end-users on a 24/7 basis, such as, for example, Osko(c) by BPAY(c).

In the same way that a series of interconnected tracks link different train stations together, the NPP has been likened to a ‘secure set of rails’ between banks. These newly developed rails are the infrastructure which allows the facilitation of faster, more convenient banking for Australian consumers and businesses.

What is PayID?

Rolled out as part of the New Payments Platform, PayID is a system that allows you to link your bank account to a unique identifier, such as your mobile phone number or email address, making it easier to transfer money and receive payments.

It is important to note that not all banks or bank accounts are PayID enabled, so it is important to check with your bank to see if your account is eligible.

To find out more information about PayID and how it works, we recommend visiting the PayID website at Alternatively, you can contact your bank directly and ask them if your account is eligible for PayID.

Are PayID payments instant?

Any transfers made or received through PayID are not instant (albeit they are nearly instant). It should only take about 60 seconds for the funds to appear in your account once the payment is made.

Our focus is on providing fast, simple, reliable and responsible access to finance for everyday, working Australians.

This starts with our 100% online, easy to use application form. If you’re fast with your fingers, it could take as little as 5-12 minutes1 to complete, but it could take longer depending on a number of factors such as how fast you are at typing or if you have all the required information on hand.

Once you have submitted your application and provided all the required information (including any additional information requested by our credit assessment team), we will get back to you with an outcome on your application on the same day.

To be eligible for a same day outcome, your application must be received before 3:00pm Australian Eastern Standard Time (AEST) during normal working hours. Please note that this offer does not include weekends or public holidays that are outside of our normal business hours. Applications received after 3:00pm during normal working hours , on weekends, or on public holidays, may receive an outcome on that day but will more likely be processed on the next business day.

We do not guarantee same-day outcomes for all customers: customers that apply outside of business hours or customers that are required to provide additional information may experience a longer timeframe. Further, we note that same day approval does not guarantee same day funding. Funding timeframes are subject to bank processing times and may vary depending on your financial institution. Refer to our key information about cash to your bank account in 60 seconds.

To ensure we are able to process your application as quickly as possible, it is important that you consider our eligibility criteria and information requirements before you apply.

The basic eligibility criteria you must meet before submitting an application:

Information you will need to provide:

Jacaranda Finance reserves the right to vary, suspend or terminate the same day outcome offer at any time without prior notice.

No results found.
We're here to help

Need a hand?
Our customer service team are here to help.

If you have any questions, whether you're a new customer or an existing one - our friendly customer service team will be happy to help you. At Jacaranda, you speak to a real human being every time.