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Bad Credit Loans

  • We look at more than just your credit history
  • Get a same-day outcome
  • Fast & simple application
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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: 28/03/24

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4.9/5
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4.9/5
Google Rating
2,800+ Reviews
4.8/5
Word of Mouth
880+ Reviews
4.7/5
Product Review
1,980+ Reviews
4.9/5
Trustpilot
1,040+ Reviews

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: 28/03/24

Funds in 60s

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Not all banks or bank accounts are PayID enabled. To find out more information about PayID and how it works, please visit https://payid.com.au/ or contact your bank.

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.

Loan Details
Loan Amounts

$2,100 to $25,000

Loan Terms

9 months to 48 months

Loan Type
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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.

THE APPLICATION PROCESS

We Make Applying Easy

We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don’t have time to waste on needless paperwork.

That’s why our loan application process has been perfected over time to be as simple and quick as possible.

Award-winning lender

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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.
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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:

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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.

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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.

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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.

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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.

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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.

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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!

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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.

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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!

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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.

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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

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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.

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
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Trusted by 1,000s

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  • It is easy to apply online, fast, reliable and they will try to help you as much as they can. I can recommend it to - See More
    It is easy to apply online, fast, reliable and they will try to help you as much as they can. I can recommend it to my friends and relatives. Thank you very much. - See Less
  • Super easy and fast system, applying was seamless and money was instant!
    Super easy and fast system, applying was seamless and money was instant! - See Less
  • Fast, reliable service had money in acc same day
    Fast, reliable service had money in acc same day - See Less
  • Jacaranda is always helpful, wonderful customer service every time. Contact is easy and quick.
    Jacaranda is always helpful, wonderful customer service every time. Contact is easy and quick. - See Less
  • Brilliant service and quick action during application process the best there can be when it comes to quick loans.
    Brilliant service and quick action during application process the best there can be when it comes to quick loans. - See Less
  • Jacaranda finance is definitely one of the smoothest and easiest places to apply for a loan. They make the process comfortable and with no hassle. - See More
    Jacaranda finance is definitely one of the smoothest and easiest places to apply for a loan. They make the process comfortable and with no hassle. Would recommend Jacaranda to any one ! - See Less
  • So jacaranda finance.. Were great to deal with I was informed where my application was up to every step of the way. My application started - See More
    So jacaranda finance.. Were great to deal with I was informed where my application was up to every step of the way. My application started on a Saturday and rolled over to the Monday before i received payment... And I wasnt forgotten about or left wondering what was going on. Although I didn't get the amount requested they were able to help me. When others would not.. Defiantly recommenced - See Less
  • Good people to work with. Application was easy and straight forward. Could use different payment options, but still good options. Would use again.
    Good people to work with. Application was easy and straight forward. Could use different payment options, but still good options. Would use again. - See Less
  • Excellent service once again from Jacaranda. Great improvements to the application process, very easy & efficient.
    Excellent service once again from Jacaranda. Great improvements to the application process, very easy & efficient. - See Less
  • Excellent 5 STAR customer service and always available with a quick response. Very happy with advice and the fantastic service provided. Quick, hassle free and - See More
    Excellent 5 STAR customer service and always available with a quick response. Very happy with advice and the fantastic service provided. Quick, hassle free and easy. Thank you. - See Less
  • Jacaranda finance were amazing they took into account all of my circumstances when other lenders wouldnt. They were easy to contact and keep me up - See More
    Jacaranda finance were amazing they took into account all of my circumstances when other lenders wouldnt. They were easy to contact and keep me up to date at all stages of the easy process. - See Less
See all FAQs

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:

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.

See also: Weekend Loans.

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.

we're here to help

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.