Comprehensive Credit Reporting
Jacaranda Finance has adopted Comprehensive Credit Reporting (CCR). Here's what that means for you and how it can support you in enhancing your financial opportunities.
How will Comprehensive Credit Reporting impact me?
Your credit score does not define you as a person. Under the negative reporting regime, improving a credit score after a setback could be extremely difficult. Not being able to access the finance you need for one of life's big expenses due to a low credit score can make things much harder than they need to be.
At Jacaranda, CCR now makes it much easier to rebuild your credit history. By applying for and repaying one of our loans on time, your credit score could increase faster than ever.
Jacaranda Finance FAQs
Here are the answers to some of our most frequently asked questions.
Jacaranda offers three loan products with varying loan amounts that you could borrow:
- Jacaranda Express Personal Loan: $5,000 to $25,000
- Jacaranda Medium Amount Cash Boost Loan: $2,100 to $4,600
- Jacaranda Car Loan: $10,000 to $25,000
These three loan products also have varying loan terms:
- Jacaranda Express Personal Loan: 24 months to 48 months
- Jacaranda Medium Amount Cash Boost Loan: 9 months to 18 months
- Jacaranda Car Loan: 24 months to 48 months
For detailed information about who our products are designed for, please review our Target Market Determinations.
When considering applying for finance with Jacaranda, you can check if you qualify using our QualifyCheck technology, which does not affect your credit score.
Checking if you qualify
When you check if you qualify, we can access your credit file in a way that does not impact your credit score, and that is not disclosed to anyone other than yourself. You will get a notification if you have alerts set up on your credit file. This is called 'file access', and is different to a 'full credit enquiry'.
Submitting your loan application
Once you've checked if you qualify, and in the case that you do qualify, you have the option to submit your application to Jacaranda to perform a credit assessment. By submitting a full application, you authorise Jacaranda Finance Pty Ltd to obtain a copy of your full credit file. Other lenders will be able to see that you applied for a loan with Jacaranda.
- Be at least 19 years of age.
- Be employed on a permanent or casual basis.
- Have a consistent income going into your own bank account for the last 90 days.
- Be in control of your finances and be handling existing financial commitments comfortably.
- Be an Australian citizen or permanent resident with a fixed address.
- Have an active email address, phone number, and online banking account in your name that belongs to you.
- You are currently or recently bankrupt (you must be three years discharged and in control of your finances)
- You are not comfortably repaying your existing financial obligations
Our loan application process has been designed to be as simple and quick as possible, as we know how important it is to receive your funds in a timely manner.
- Applying for a loan with Jacaranda Finance takes most people 5-12 minutes1, but it could take longer depending on a number of factors, such as whether you have all the required information on hand.1
- After applying, most customers get an outcome on their loan application on the same day during normal business hours (before 3 pm AEST) once we have received all of the supporting information we require. We do not guarantee same-day outcomes for all customers.2
- Once you've been approved and have accepted our offer by signing your digital contract, we automatically attempt to 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 seconds3. If not, the money will be available overnight on weekdays or the following business day if you're approved on a weekend.
The interest rate, fees and charges applicable will depend on your individual circumstances and the information verified during the loan application assessment. It will also depend on our assessment criteria and the loan product, loan amount and loan term you qualify for.
Use our loan repayment estimate calculator to get a guide on what your repayments could be. To get an idea of what rates, fees and charges are associated with our loan products, visit our rates and fees page.
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. Our customer service team is 100% Australian-based in Brisbane: at Jacaranda, you speak to a real human being every time.