Debt Consolidation Loans

Looking to manage your debts better? Jacaranda Finance is a fast and flexible online lender specialising in delivering reliable, convenient, and simple loans for debt consolidation.

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Get started in minutes1
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Check if you qualify - no effect on your credit score
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Simplify multiple debt repayments

Check If You Qualify

With no impact on your credit score!

Check If You Qualify with no impact on your credit score!

*Subject to lending criteria, T's and C's'

*Subject to lending criteria, T's and C's'

Looking to manage your debts better? Jacaranda Finance is a fast and flexible online lender specialising in delivering reliable, convenient, and simple loans for debt consolidation.

Decorative graphic of a clock
Get started in minutes1
Decorative graphic of a Check
Check if you qualify - no effect on your credit score
Decorative graphic of a Coin
Simplify multiple debt repayments
1.

What is a debt consolidation loan?

Debt consolidation is a process where you eliminate multiple debt repayments by bringing some or all of your existing debts together into one loan, offering you greater control of your repayments. By taking out a debt consolidation loan, you can use these funds to pay off your other debts.

Now, you'll have a new loan with only one repayment over a set term, so you’ll know exactly what and when your next payment will be.

If you're juggling multiple repayments of debts, consolidation can be a management tool to stay on top of your finances.

2.

Aussie Debt Statistics

  • The average household debt is $261,492, including mortgages (ABS)
  • The average credit card debt in Australia is just under $3,000 (RBA)
  • The total credit card debt accruing interest is more than $18.4 billion (RBA, 2023)
  • Approximately 68% of Australians have at least one credit card; around 20% have at least two (Finder)
  • The average Aussie has a personal debt (excluding mortgages) of $17,700 (ABS)
  • Around 14% of Australians currently have a car loan (Finder)
  • 21% of buy now, pay later (BNPL) users missed a payment; 45% were charged late fees (ASIC)
  • The average Australian with payday loan debts owes $6,200 (Westpac)
3.

Our Rates & Fees

Our debt consolidation loans let you borrow between $3,000 and $25,000 over 25 months - 48 months. They’re also a highly flexible product and can be used for a number of common debts. To get an idea of what rates, fees and charges are associated with our other loan products, visit our rates and fees page.

Interest Rate
Comparison Rate
Show the What does it mean? modal
Loan Term
Repayment Cycle
Secured or
Unsecured
Show the What does it mean? modal
Establishment Fees
Show the What does it mean? modal
Monthly Fees
Show the What does it mean? modal
Risk Fee
Show the What does it mean? modal
Comparison Rate Warning*
  • Unsecured
    Personal Loan
    $3,000 - $15,000
    Interest Rate
    17.95% to 27.95%
    Comparison Rate
    Show the About Comparison Rate modal
    32.40% to 42.80%
    Loan Term
    25 - 36 months
    Repayment Cycle
    Weekly, fortnightly or monthly
    Secured or
    Unsecured
    Show the About Security modal
    Unsecured
    Establishment Fees
    Show the About Establishment Fees modal
    $130 to $990
    Monthly Fees
    Show the About Monthly Fees modal
    $24 p/month
    Risk Fee
    Show the About Risk Fee modal
    $0 to $995
    Comparison Rate Warning*
    Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
  • Secured
    Personal Loan
    $3,000 - $25,000
    Interest Rate
    14.95% to 27.95%
    Comparison Rate
    Show the About Comparison Rate modal
    29.30% to 42.80%
    Loan Term
    25 - 48 months
    Repayment Cycle
    Weekly, fortnightly or monthly
    Secured or
    Unsecured
    Show the About Security modal
    Secured
    Establishment Fees
    Show the About Establishment Fees modal
    $130 to $990
    Monthly Fees
    Show the About Monthly Fees modal
    $24 p/month
    Risk Fee
    Show the About Risk Fee modal
    $0 to $995
    Comparison Rate Warning*
    Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
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.
  • Unsecured
    Personal Loan
    $3,000 - $15,000
    Interest Rate
    17.95% to 27.95%
    17.95% to 27.95%
    Comparison Rate
    Show the What does it mean? modal
    32.40% to 42.80%
    32.40% to 42.80%
    Loan Term
    25 - 36 months
    25 - 36 months
    Secured or
    Unsecured
    Show the What does it mean? modal
    Unsecured
    Unsecured
    Monthly Fees
    Show the What does it mean? modal
    $24 p/month
    $24 p/month
    Repayment Cycle
    Weekly, fortnightly or monthly
    Weekly, fortnightly or monthly
    Establishment Fees
    Show the What does it mean? modal
    $130 to $990
    $130 to $990
    Risk Fee
    Show the What does it mean? modal
    $0 to $995
    $0 to $995
    Comparison Rate Warning* Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
  • Secured
    Personal Loan
    $3,000 - $25,000
    Interest Rate
    14.95% to 27.95%
    14.95% to 27.95%
    Comparison Rate
    Show the What does it mean? modal
    29.30% to 42.80%
    29.30% to 42.80%
    Loan Term
    25 - 48 months
    25 - 48 months
    Secured or
    Unsecured
    Show the What does it mean? modal
    Secured
    Secured
    Monthly Fees
    Show the What does it mean? modal
    $24 p/month
    $24 p/month
    Repayment Cycle
    Weekly, fortnightly or monthly
    Weekly, fortnightly or monthly
    Establishment Fees
    Show the What does it mean? modal
    $130 to $990
    $130 to $990
    Risk Fee
    Show the What does it mean? modal
    $0 to $995
    $0 to $995
    Comparison Rate Warning*
    (Personal Loans)
    Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
    Comparison Rate Warning* Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
4.

Some key advantages of consolidating debt include:

  • Having one recurring repayment is easier to manage than having multiple repayments
  • You have a clear schedule of when you can pay down the debt instead of multiple schedules on different timelines
  • You could gain better control of your monthly budget and cash flow as you have one simple debt to track
5.

Benefits of our debt consolidation loans

A debt consolidation loan with Jacaranda Finance offers each of these benefits as well as the following:

Apply today or get in touch to see how we can help you consolidate your debts!

Refinancing or consolidating your current debt may result in higher total charges if the interest rate and fees are higher or the loan term is longer. You should also carefully consider the impact of increasing your debt, monthly obligations, and the length of your repayment term.

The Application Process
6.

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.

7.
UNLOCK THE NEW FINANCIAL YOU

Boost Your Credit Score With Jacaranda

Check your eligibility

Worried about being denied a loan? No stress! At Jacaranda, you can check if you qualify without affecting your credit score!

Comprehensive Credit Reporting (CCR)

Making all your repayments to us on time could steadily improve your credit score and positively impact your ability to get credit in the future.

8.

Estimate Your Loan Repayments

If you're merging multiple debts into one, it’s crucial that you take the time to calculate your estimated repayments before taking out a loan. If you can't afford your new loan, then you won't be any better off than you were before.

Fortunately, our online loan repayment calculator can guide you to what your repayments might be so that you can budget accordingly.

It only takes a few seconds!

Ready to Apply? You can get started now.

1. I'd like to borrow: $8,500
Please consider: loans above $15,000 and terms above 36 months, require security in the form of a registered motor vehicle you own.
2. Loan Term (Months)

Ready to Apply? You can get started now.

Want to know more?
10.

Debt Consolidation Loan FAQs

Find out the answers to the most common queries about our Debt Consolidation Loans here.

Debt consolidation is often used interchangeably with refinancing, and the two terms are very similar: both involve taking out new debt to manage an existing one.

A key difference between consolidation and refinancing is that the former can sometimes involve multiple debts. Refinancing, on the other hand, is usually applied to just one debt, such as a mortgage.

In both cases, though, you should only be refinancing or consolidating to a more favourable loan that suits your needs, whatever those may be.

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
When you are 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. If you have alerts set up on your credit file, you will get a notification. This is called 'file access', and is different to a 'full credit enquiry'.

Submitting your loan application

Once you have 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.

Information we provide to Credit Reporting Bureaus

While we receive information from credit reporting bodies, we also advise them about your repayments. This is a good thing because other credit providers will be able to see your repayment history with Jacaranda. If you're making all of your repayments to us on time, this could positively impact your ability to get credit in the future.

For more information on your credit report and credit score, visit CreditSmart's website. You can also contact our customer service team if you have any further questions about how your credit score can be impacted by applying for one of our loans.
It's possible to receive a loan offer from us if you have 'bad credit'. We offer fast and reliable personal loans for applicants with varying credit histories. If you're in a good financial position and handling your existing financial commitments comfortably, check if you're eligible and submit an application.

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're currently or recently bankrupt (you must be three years discharged and in control of your finances) or if 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; how quickly you can apply for a loan and receive your funds will depend on your situation.

We only accept loan applications online via our online application form on our website or the Better Credit app. We're 100% online, so there are no other ways to submit an application.

If you’re considering applying for a loan with Jacaranda, you can first check if you qualify using our QualifyCheck technology, which does not affect your credit score.
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. How quickly you can apply for a personal loan and receive your funds will depend on your situation.

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 but not limited to how fast you are at typing or if you have all the required information on hand.

After applying, most customers get an outcome on their loan application on the same day during normal business hours once we have received all of the supporting information we require. We do not guarantee same-day outcomes for all customers.2

Once an applicant has been approved and they have signed a contract, we automatically attempt to release the money to the applicant's bank account. Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds. For other customers, the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.3
We offer secured and unsecured loan products. See our article on secured vs unsecured loans to learn the differences between the two.
Repayments on your loan are automatically set up to be deducted via direct debit from your bank account in line with your pay cycle.

You can view your repayments from either the Better Credit app or online portal and contact our friendly customer service team to request any changes that you need.

Download the app on the Google or Apple store today.

Read more: Personal Loan Repayments 101.