Am I Eligible?
Note: FlexiCredit is currently only available for existing Jacaranda Finance customers.
The basic eligibility criteria you must meet before submitting an application for one of our loans are:
- Be a current Jacaranda customer with access to our customer portal.
- 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 handle 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.
We accept a wider range of credit history than a bank or a prime lender, but we do not recommend submitting an application if:
- 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
How do the repayments work?
Your minimum repayment amount is determined by your approved credit limit. This will be specified in your loan contract before you receive your funds, so make sure you read this.
You will be charged interest on your FlexiCredit loan, but only on the amount you draw down. For example, if you’re approved for a $2,000 credit limit but only decide to use $1,000 to cover your expenses, you will be charged interest on $1,000.