Need bad credit loans to fix your bad credit? No problem! Here’s all you need to know about applying for bad credit loans with Jacaranda today!
Bad credit loans from $300 to $10,000 | 100% online
What are bad credit loans?
There are two basic types of bad credit loans: secured and unsecured. An unsecured bad credit loan means that borrowers sign a contract and promise to repay their loan according to the terms and conditions of their loan. Typical secured loans include mortgages, car title loans, and pawnshop loans. You can typically qualify for an unsecured loan if you are employed and get what is called a “payday loan”.
Options for unsecured $5000 bad credit loans with a good credit rating.
If you don’t have bad credit you can be eligible for a loan from a bank, credit union or standalone lender at a more competitive rate than bad credit loans. You may be able to borrow up to a limit of $5,000 and do not have to attach an asset as a guarantee.
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When you have a poor history of paying your bills, it can limit you in several ways. However, at Jacaranda, we know that your credit score can be a result of something that happened in your past that may have been out of your control. We understand that having not so great credit can be limiting, so we don’t want to make your situation any more difficult. With us, you can borrow up to $10,000 in the most hassle free-way. Your credit score is a result of the past and we know that that’s where it should stay!
In a nutshell, Jacaranda Finance is a digital lending company that offers lending. We have a simple application and approval process, combined with a straightforward repayment system. The way it works is that you just need to jump online to apply for one of our loans. Then, we’ll get back to you with an outcome of your application.
Since our process is so simple, it means that we can give you an outcome of your application in a very short amount of time. Another bonus is that the time it takes for us to send you your funds is super short as well. We transfer your funds as soon as you have accepted your loan contract. Your funds can then end up in your account that same day.
You can also rest assured knowing that Jacaranda Finance is a responsible lending business. We will never give you an cash advance loan that you cannot afford or that does not meet your needs.
They are a type of personal loan that we offer to borrowers who don’t have the best credit rating. So, even though we don’t offer cash loans no credit check fast approval, we may still be able to help. We do medium and large secured personal loans and small personal loans that can all be applied for online, within the comfort of your own home. Below we’ve explained all you need to know about our different types of loans.
Small personal loans
They are unsecured personal loans with very fast outcomes. With these, you can borrow between $300 and $2,000 that can be repaid over the space of a 12-month period.
The costs of our small personal loans include a 20% establishment fee, plus additional fees of 4% per month.
Medium secured personal loans
With our medium sized bad credit personal loans you can borrow between $2,001 and $4,600. They can be repaid over a period of 13 – 24 months.
The costs include a $400 establishment fee, plus annual fees of 48%. Therefore, the annual percentage rate is 67.41%.
Large bad credit personal loans
Our large secured loans are between $5,000 to $10,000 and can be repaid over a 13 to 24 month period. They incur an annual percentage rate (APR) of 21.24%
and the comparison rate is 48% P.A.
What are Bad Credit Loans?
They are a method of borrowing money for people who need a payday loan. Payday loans are for those who need to borrow money quickly and are employed. If you need this type of loan, you can apply here. Consider applying even if you need a cash loan.
To find out more about fees and charges for fast cash loans bad credit, visit the moneysmart website.
When you have a less than impressive history of borrowing money, it refers to your rating. A credit rating refers to a value given to you on a scale from 0 to 1200. The value of your score reflects the information contained on your report. This report contains information. The higher your score, the better your credit history.
Your credit report contains some of the following information:
- Name, date of birth, address history and employment history
- Your monthly repayment history
- Details of credit inquiries you’ve made
- Court judgements
- Consumer credit accounts such as credit cards
- The length of your credit history
A good history of borrowing is generally considered anywhere above 620. A score anywhere below this is not considered a good score. With us, you can get cash loans Australia. So, even if your score is below 620, you can still apply. Guaranteed approval is a myth! We help people with good credit, no credit, and ugly credit – so your chances of getting a loan may be higher.
At Jacaranda Finance, we understand that borrowing from a bank or other financial institution can be difficult if you don’t have a great score. It’s disappointing to get let down, so that’s why we think you should come straight to us for a personal loan bad credit instant approval.
Instead of looking at your credit rating we look at your bank history over the last 90 days as well as your Centrelink income statement if you receive one. With this information, our highly skilled loan assessment team will do our best to understand your current financial situation and not blame you for your past.
Likewise, if you are earning a Centrelink Income – if you are receiving a regular payment then we can approve your loan.
The way our lending works, is by first completing our simple online application form. You can find it right here! The form is very easy to fill out and will ask you a few questions about your personal details and purpose for borrowing the loans. Since the form is very straightforward, it only takes just a few minutes to fill out.
Once you’ve submitted the form, you just need to sit back, relax, and have a cup of tea. We’ll get back to you with the outcome of your application as soon as possible. We’ll contact you with the decision we’ve made about your application. If we decide to extend you a loan offer you just need to accept or reject the contract. If you accept, we’ll transfer your funds to you straight away.
We also guarantee that if have a question about our bad finance loans, a person will answer the phone every time you contact us between 8am to 6pm Monday to Friday. If you have a query outside of these times – simply send the team an email and we will get back to you the next business day.
As part of our duty as responsible lenders, we have some lending criteria we must comply with. That means we can only lend to people who meet our eligibility requirements. Here is a list of some of the requirements needed to qualify.
- You must be at least 18 years of age
- You’ve got to be receiving a regular income (for at least 90 days prior to applying)
- Finally, you must be an Australian citizen or permanent resident to be eligible
Our unsecured personal loans with very fast approval work because everything is done electronically. This includes the application form as well as the information we require from you. Here is a list of the information we’ll need from you when you apply for cash loans:
- Name and address
- 100 points of ID, proving your identity
- Your contact details including your mobile number and email address
- Your internet banking details
With Jacaranda finance, the types of loans we offer to our clients can be for a variety of different purposes. Often people use loans for the following purposes.
- Car repair loans
- Car loans
- Rental Bond loans
- Whitegoods and furniture loans
- Medical loans
- Travel loans, and
- Unexpected or emergency bills
Yes! We do not offer fast cash loans no credit check, because we do perform credit checks on all our applicants. Although we do perform credit checks, this is not the only thing we look at when we are assessing your application. With our bad credit car loans, we find that the most important thing for us to look at is your current financial situation. This allows us to determine whether you will be able to manage the repayments.
With our bad credit car loans, you are most likely considering borrowing money to help pay for a used car. To apply you’ll need to meet our eligibility requirements as well as providing us with an asset as security for the loan. The asset can’t be the car you are planning to pay for, however, it can be another car or vehicle you own. Some examples of assets that people can use as security are motorbikes, cars, caravans or boats.
We’ll ask you to provide information about the make, model, year and registration number so that we can make an accurate valuation of the vehicle.
Small loans for bad credit are a means of borrowing money when you are low on funds. If you don’t have bad credit you can be eligible for a loan from a bank, credit union or standalone lender at a more competitive rate than bad credit loans. You may be able to borrow up to a limit of $5,000 and do not have to attach an asset as a guarantee.
As you can see, borrowing cash can serve a variety of purposes. They can come in handy when you need to borrow cash immediately because the application process is so quick. Though personal loans have some other benefits too:
- They can help you to improve your credit rating! If you are reliable with making your repayments on time, bad credit personal loans can, in fact, help you to raise the value of your credit rating. It’s because this demonstrates to lenders that you can use credit responsibly.
- Bad credit loans Australia can get you out of a sticky situation. If your credit rating is preventing you from getting a loan from another source, our no credit check loans can help you out.
- They are fast and simple. In case we haven’t emphasized it enough, our loans are easy to apply for and you receive them very quickly!
If you decide you would like to clear your debt then congratulations we say! If you are ready to pay off the loan early then we are happy for you to do so. Unlike other credit lenders, we don’t charge you an early exit fees.
In fact, if you pay your loan out early, come back! You can apply for a new loan with us the same day. This a great way to restore your credit history.
Likewise, if you need a longer repayment period – we’ve got you covered there too. At Jacaranda Finance, we offer repayment periods of 12 to 24 months on all our loans. So, you can have the breathing space you need to manage your loan the best way for you.
Things to watch out for
Even though personal loans are super easy to apply for and incredibly quick to arrive into your account, there are still some things to keep in mind when it comes to applying for bad credit loans.
Ensure that you can afford the small loans bad credit repayments
What are small loans bad credit repayments? They are the payments you make on your loan that you received. Payday loans typically have one repayment, whereas instalment are repaid over a longer period of time. To get a small loan, apply with us today.
It is important to not fail to make repayments on time. If you miss any repayments, you will be charged a penalty fee of $35. It’s also important to ensure you make your payments on time otherwise it can damage your score. However, we will never lend you more than we think you’re able to afford.
Nevertheless, we get that life doesn’t always go to plan and if you find yourself in a situation where you feel as though you won’t be able to make a repayment. Give us a call and we should be able to work out a solution that works for both parties.
If you are borrowing cash just to get by with everyday expenses, this is dangerous. You could end up getting yourself into a bad debt cycle. Therefore, it’s always important to apply for the loan for a clear purpose in mind. This will also work best if you have plans for how you are going to make your repayments.
Are you ready to apply?
Now you know all the facts about Jacaranda Financing, if you need a loan you should be ready to go on and apply. We may not offer bad credit personal loans guaranteed approval Australia, but we’ll do our best to approve clients who apply. So, if it sounds good to you, go ahead and apply now! What are you waiting for?
Small Personal Loan
Up to 20% Establishment Fee
+ monthly fee up to 4%
Jacaranda Finance does not charge an annual interest rate on SACC loans. These small amount loans incur 'fees' instead of interest. The maximum comparison rate on our loans between $300 and $2000 is 199.43%.WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate
Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.
Loan Amount of $1,000 over 12 months repayable weekly (50 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $480 (fees based on 4% per month over 50 weeks) = $1,680 total repayable in 50 weekly installments of $33.60.
Medium Personal Loan
Annual Percentage Rate (APR) starts at 20.56%
Comparison Rate is 20.56% per annum.
This comparison rate is based on a medium amount credit contract of $2,500 repaid over 2 years with a $400 establishment fee and APR of 20.56%.WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate
Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $555.83 (reducing interest*) = $3955.83 total repayable over 18 months with weekly installments of $50.71.
Loan Amount of $4,500 over 24 months repayable weekly (104 weekly repayments). $4,500 (Principle Amount) + $400 (Establishment Fee) + $1081.85 (reducing interest*) = $5981.85 total repayable over 24 months with weekly installments of $57.51
Large Personal Loan
Annual Percentage Rate (APR) is 12%
Comparison rate is 19.88% per annum.
Loan Amount of $5,000 over 18 months repayable weekly (78 weekly repayments). $5,000 (Principle Amount) + $1831.16 (Interest) = $6831.16 total repayable over 18 months with weekly installments of $87.57.
Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5041.72 (Interest) = $15041.72 total repayable over 24 months with weekly installments of $144.63.