How it works

It's really simple and easy
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Step One


Submit Application Online

Apply online using our simple application form that could take you just minutes to complete!

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Step Two


We Assess Your Application

To assess your application quickly, our team utilises the latest in safe banking technologies to assess your situation. We'll determine whether one of our loan products is suitable for you and we'll never lend you more than you could afford to repay.

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Step Three


Money Transferred Upon Approval

You could receive an outcome on your application in just 60 minutes, however, approval times are subject to each individual application and so they will vary. If you are approved, we will transfer the funds to you with the next round of banking, after you have signed your loan contract. The amount of time it takes for the funds to reflect in your personal bank account will depend on the policies of the bank you are with.

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Recieving Centrelink?

See how it works
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It’s simple to qualify for one of our short term personal loans.
To save your own time and energy, make sure you qualify for one of our loans before you apply.

If you are receiving Centrelink payments, check out your options for Centrelink loans first, before applying for a loan with us!

We like to keep things as simple as possible, to make it easy for you.

We specialize in fast short term personal loans repaid over a 12-month term. Refer to our loan calculator to get an estimate of our cash loan costs.

Most of our clients have an outcome on their personal loan application within 1 hour

We understand that when you need money, you need to know as quickly as possible if we can or cannot do the loan.

Therefore, we offer one of the quickest Personal Loan services in the country. Most of our clients have an outcome on their Personal Loan application during normal business hours within 1 hour of submitting the completed loan application.

Loans for people on Centrelink benefits

Do you receive Centrelink benefits? If you do, did you know that you may be eligible to apply for personal loans? Well, if you didn’t know – we’re here to tell you that you can! With Jacaranda Finance, we provide personal loans for people on Centrelink. We know that if you are on Centrelink, it can be difficult to be approved for a loan by traditional lenders. That’s why make it easier, because we understand that you may need a loan more than anyone.

So, how do people on Centrelink benefits apply for loans?

Centrelink customers can apply for loans online by completing out easy online application form found here. You just let us know how much you would like to borrow over how long you would like to repay the loan.

What do you need to apply?

To apply you don’t need any paper work. You just need to fill out the application form and meet the basic requirements, which are:

  • Must be at least 18 years of age
  • An Australian citizen or permanent resident
  • Receive regular income over the past 90 days (your Centrelink payments)

Loans for people on Centrelink

When you apply for online loans for Centrelink recipients, you should receive an outcome of your application within an hour. That is if you apply within normal office hours. If you apply outside of office hours it may take slightly longer.

Once you receive approval for your application, we will send you a loan offer with a loan contract. If you are happy with the loan offer, simply send us back the signed contract. After we receive the contract back from you, we will send the loan to you straight away. You should receive the loan within about 24 hours.

What Centrelink payments are accepted?

We accept all Centrelink payments. You need to provide evidence that you receive a regular income so that we know you will able to repay your loan over a period between 12 – 24 months. The evidence is in the form of a CENTRELINK INCOME STATEMENT which you will upload during your application.

How much can you borrow?

With loans for people who receive Centrelink, the amount you can borrow is anywhere between $300 and $10,000. Though it’s important that you only borrow an amount that you can safely afford to repay. Nevertheless, as responsible lenders we will only lend you to you an appropriate amount based on financial assessment of your individual situation.

How much does it cost to borrow?

The amount it costs to borrow loans for people on Centrelink depends on the amount. For instance, for loans between $300 and $2000, it will cost an establishment fee of 20% the total loan amount plus, additional fees of 4% per month.

For amounts between $2001 and $4600, it will cost an establishment fee of $400 plus an Annual percentage rate of 48%.

For amounts between $5,000 and $10,000, it will cost an annual percentage rate of 21.24%.

The fees are added to the loan amount and then divided by the loan term. This is how much you will repay per money.

How does repayment work?

Repayments work by repaying the loan amount plus the fees. It is usually done by setting up a direct debit so that the payments come out of your account automatically. Repayments for your loan can be set up to come out of your account on a weekly, fortnightly or monthly basis, depending on what suits you best. The repayments are made until the total loan amount is repaid.

What if I can’t make my repayments?

If you are unable to make a payment on your loan it’s important not to ignore it. This is because you could get charged, expensive penalty fee of $35 for missing a payment. Instead, let us know at least 24 hours in advance and we can help to arrange an alternative for you.

Why might loans for people on Centrelink be useful?

Loans for people on Centrelink can be useful for a variety of reasons. Though, often they usually come in handy when you need to pay for something unexpected. Here are some examples of when you could use a loan for:

  • Pay for multiple bills
  • A necessary household item breaks down, such as a washing machine or fridge
  • You need to pay for an urgent medical or dental bill
  • Your car needs a repair so that you can drive it again
  • Pay for school fees or child care fees that are due urgently

Less stress & more breathing space with lower repayments

Unlike a Payday Loan or Cash Advance that other lenders offer, our Personal Loan repayment period is suitably long to give you some breathing space while repaying.

This means your repayments will be lower, and in most cases less financially straining than the Payday or Cash Advance loan you may have used in the past.

We are also able to assess your situation based on a higher loan application amount, as the repayments are spread out over a longer time frame.

Small Personal Loan

Loan Amount

Minimum
$300


Maximum
$2,000

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Terms

Minimum
12 Months


Maximum
12 Months

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Costs

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
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Examples

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.

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Medium Personal Loan

Loan Amount

Minimum
$2,100


Maximum
$4,600

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Terms

Minimum
13 Months


Maximum
24 Months

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Costs

Annual Percentage Rate (APR) is 48%
Comparison Rate is 67.41% 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 48%.

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
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Examples

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest*) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

Loan Amount of $4,500 over 24 months repayable weekly (104 weekly repayments). $4,500 (Principle Amount) + $400 (Establishment Fee) + $2,732.56 (reducing interest*) = $7,632.56 total repayable over 24 months with weekly installments of $73.39.

* Reducing intertest means that the 48% APR is applied to the outstanding balance on a loan. When a loan repayment is made, the loans outstanding balance goes down and the APR is applied to that lower balance. Therefore, the interest component of the loan will constantly reduce (as long as repayments are being made!) - thus it is called reducing interest.
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Large Personal Loan

Loan Amount

Minimum
$5,000


Maximum
$10,000

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Terms

Minimum
13 Months


Maximum
24 Months

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Costs

Annual Percentage Rate (APR) is 21.24%
Comparison rate is 48% per annum.

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
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Examples

Loan Amount of $5,000 over 18 months repayable weekly (78 weekly repayments). $5,000 (Principle Amount) + $2,027.80 (Interest) = $7,027.80 total repayable over 18 months with weekly installments of $90.10.

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

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