Bad Credit Loans
- We look at more than just your credit history
- Get a same-day outcome
- Fast & simple application
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You can now check your eligibility,
with no impact on your Credit Score!
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Funds in 60s
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Does Jacaranda Finance offer bad credit loans?
We offer fast and reliable personal loans for applicants with varying credit histories. Provided you're in a good financial position and you're handling your existing financial commitments comfortably, check if you're eligible and submit an application.
When we assess your application, we do consider your credit history. However, we also take into account your current financial position by considering factors like your income, your expenses and how you're handling your current financial commitments.
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) or you are not comfortably repaying your existing financial obligations.
What is 'bad credit'
'Bad credit' isn't actually a technical term and there is no definitive definition of bad credit. Bad credit history is any credit history that stops you from getting the loan you need from a particular lender. Different lenders consider different pieces of information on your credit history bad, therefore every lender looks at you differently. If you have a bad credit history, you may need some expert advice on the best method to improve it.
Then what is a bad credit loan?
A bad credit loan is a type of personal loan for people with a less-than-ideal recent credit history. There are many drawbacks to having a bad credit rating; the largest issue is it impacts your ability to obtain a loan.
It is still possible to be approved for a loan if you have bad credit history, you may be charged a higher interest rate to offset the lender's potential risk.
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Fast response and quick service. Life savers
Sometimes we offer customers incentives encouraging an honest review of our services, be it negative or positive based on their unique experience. It is possible that some reviews were written by customers who received a reward regardless of their review being positive or negative. Last updated: 22/11/23
Personal Loan: Quick Details
Loan Amounts | $2,100 to $25,000 |
---|---|
Loan Terms | 9 months to 48 months |
Loan Type | Secured and unsecured |
Rate type | Fixed |
Repayment options | Weekly, fortnightly or monthly |
No early payout or exit fees | Customers who pay their loan out early do not incur any additional fees or charges for doing so. |
This is not an offer for credit. The amount you can borrow as well as the offer you receive may vary once you complete an application and all relevant details are captured and verified. Fees, credit criteria and terms and conditions apply. Example tables and calculators are illustrative only and are not intended to be your sole source of information when making a financial decision. Consider whether to get advice from a licensed financial adviser.
How does the application process work?
1. Submit your application
This is done 100% online and it’s fast and simple. 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.
Alternatively, if you like to take things slow, fill in the application at your own pace from anywhere in Australia on any device as long as you have the internet.
2. We’ll do a credit assessment
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. If you pass the credit assessment and we can assist you, we’ll send a loan offer for you to review.
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.
3. Review your loan offer
Once you have 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 seconds.3
You must have an NPP-enabled bank account. For customers without an NPP-enabled bank account (or 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.
Award-winning lender
What other finance products do we offer?
In addition to our express personal loan, Jacaranda Finance offers the following specialised products.
Cash Boost Loan
Cash Boost is a fast finance solution for small-to-medium-sized expenses, with the cost spread out over the term of the loan with manageable repayments.
- Loan amounts: $2,100 - $4,600
- Could be suitable for: Car repairs, medical expenses, vet expenses, white goods etc.
Express Car Loan
Hit the road with a fast, flexible and reliable express car loan from Jacaranda Finance.
- Loan amounts: $10,000 - $25,000
- Could be suitable for: New cars, used cars, balloon payments
What can I use a Jacaranda personal loan for?
With fixed repayments and both secured and unsecured loan options, our loan options could be a great choice for you based on your needs. Depending on whether you apply for our Cash Boost loan or our larger Express Personal Loan, you could use one for any of the following common loan purposes:
Car repairs
When your car breaks down or is damaged in an accident, getting it fixed can be very expensive. Our car repair loans can help you get back on the road in no time.
Vet bills
Whether you need money to pay for an emergency vet bill or to buy a new pet, Jacaranda Finance could have a vet bills loan to suit you.
Medical bills
Some medical procedures can cost hundreds if not thousands of dollars! You can turn to Jacaranda for a personal loan to help pay for any large medical bills.
White goods & furniture
Applying for a white goods loan with us can take the stress of a key appliance breaking down: you could receive your money on the same day and hop online to shop for a new one.
Rental bonds & moving costs
A Jacaranda rental bond loan can help you manage medium expenses such as bonds and with removalists and lets you take some of the stress out of moving.
Holidays
Personal loans can also be used for flights, accommodation, and other costs that come with booking a holiday. Check out our holiday loans today!
Home repairs
Whether it's cracked tiles or a leaky roof, a home improvement loan can help you sort out those much-needed repairs you’ve been putting off.
Home renovations & installations
You can use our home renovation loans to improve your home via renovations, remodelling, installing tech like solar panels, landscaping, and much more!
Debt consolidation
If you’re juggling multiple loan & credit card repayments, you can consolidate them into one easier-to-manage debt consolidation loan with Jacaranda, provided all other repayments are up to date and on time.
Weddings
Whether it’s for the ring, the dress or the venue, let Jacaranda alleviate some of that wedding stress and help you pay for your special day with a wedding loan.
How to get started

How to get started
Am I eligible for a Jacaranda loan?
The basic eligibility criteria you must meet before submitting an application:- 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

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Bad credit loan FAQs
Want to find out more? Here are some common questions about our personal loans.
If you don't have a perfect credit score, the good news is that it's not permanent. There are lots of ways you can steadily up your credit rating - see our article on the top tips to improve your credit score for a comprehensive breakdown of how to do this.
Jacaranda offers three loan products with varying loan amounts that you could borrow:
- Jacaranda Express Personal Loan: $5,000 to $25,000
- Jacaranda Cash Boost Loan: $2,100 to $4,600
- Jacaranda Car Loan: $10,000 to $25,000
For detailed information about who our products are designed for, please review our Target Market Determinations.
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.
We use the information you provide in the online application form as well as information on your bank statements to make sure that you qualify for a loan product during our credit assessment. If you don't qualify, your application will be declined without a credit check being conducted.
Once we have verified that you meet our non-credit report-related criteria, we do perform a credit check as part of our credit assessment, where an inquiry will be left on your credit file.
We will never perform a credit check without your express consent, which you provide to us when you apply for a loan with Jacaranda Finance. We store your acknowledgement and consent for seven years, and it can be supplied on demand.
There are four credit reporting bodies that we may use to conduct a credit check:
- Equifax
- Experian
- illion
- Talefin
Review our Privacy Policy for more information.
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 within 60 seconds.3
You must have an NPP-enabled bank account. For customers without an NPP-enabled bank account (or 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.
Repayments on your loan are automatically set up to be deducted via direct debit from your bank account in line with your pay cycle.
Provided you are meeting your minimum contractual repayments, you can change the date of your direct debit payments, make extra repayments, change your bank account details and more from either the FastMoney app or online portal.
Download the app on the Google or Apple store today.
Read more: Personal Loan Repayments 101.
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.