Have you ever found yourself in the situation where you are short of funds but need to pay for something urgently? You may have thought, “I need a loan”. It’s a completely understandable situation to be in, and it happens to many of us. We get that. Life happens and we know it isn’t always possible to be prepared for the unexpected. That’s why we’re here. We’re here to help you through life’s hurdles. So if you need a loan we’ve got your back.
When you need a loan the best place to look is online. Traditionally when you need a loan you go to a bank and make an application to a bank manager. Whereas, these days there are alternative lenders who offer loans online. We are an online digital lender, and if you need a loan just apply with Jacaranda Finance, and we may be able to help you out no matter what pickle you’re in.
When you need a loan, the first thing you need to do before you apply is to check whether you meet the eligibility requirements. Our eligibility requirements are pretty simple and consist of the following:
- You need to be at least 18 years of age to apply for a loan with Jacaranda Finance
- Next, you must be an Australian citizen or permanent resident in order to be approved for a loan.
- You’ll need to be receiving regular income, at least 90 prior to applying for your loan.
- Finally, you need to have a valid mobile number and email address
When you need a loan, the best place to apply is online simply by filling out our application form. When you apply, we’ll also ask you to provide us with some supporting information to your application which includes the following:
- The reason for you loan
- Your contact information>/li>
- Proof of ID – we normally ask for 100 points of ID
- Your internet banking logins to verify your financial history
- If you receive Centrelink income we’ll need your MyGov login details to verify your Centrelink income
- Any relevant employment details
If you are applying for one of our medium secured loans or large secured loans, you’ll also have to provide us with details about the asset you are using as security for the loan. The asset can either be a car, motorbike or caravan. To make an accurate estimation of the overall value of the car, we’ll need the following information from you:
- Make and model of the car
- Year it was manufactured
- Car registration number
- Fuel transmission
Need a loan with bad credit? We may be able to help you with that. That’s because, while we do credit checks, your credit rating is not the only thing we look at when assessing your loan application. We prefer to look at your current financial situation to assess whether you’ll be able to manage the repayments. We do this by using the latest financial software which allows us to look at your financial transactions over the last 90 days. So even if you know you don’t have the best credit rating, it’s not a dead end. When you need a loan, come to us.
If you receive Centrelink benefits and you need a loan, we’ve got your back. Because, at Jacaranda Finance, we do loans for Centrelink customers. However, we still do a financial check in order to ensure you are able to afford the loan. We will never lend a person more than they are able to afford, and that is our promise as responsible lenders, which is a duty we take very seriously.
With Jacaranda Finance, you can borrow a minimum of $300 up to a maximum of $10.000. We do two types of loans, which consist of a small unsecured personal loan plus medium and large secured personal loans.
With our small personal loans, you can borrow between $300 to $2,000 repaid over a period of 12 months.
With our medium secured personal loans, you can borrow between $2,001, up to $4,600 repaid over 13 to 24 months.
Finally, with our large secured personal loans, you can borrow between $5,000 and $10,000 repaide over 13 to 24 months.
The cost structure varies slightly between the two different types of loans we offer at Jacaranda Finance. Here is are two examples that demonstrate the costs of our loans:
|Small personal loans||Medium secured personal loans||Large secured personal loans|
|They cost an establishment fee of 20% the loan amount||These loans cost an establishment fee of $400||They cost an Annual Percentage Rate of 21.24%|
|Additional fees are 4% per month for the duration of the loan term.||
Additional fees total 48% percent per annum.
The comparison rate for our medium secured personal loans is a 67.41% based on a secured loan of $2500 over 2 years.
|The comparison rate for large secured personal loans is 48%|
|There is a direct debit dishonour fee of $35||Also a direct debit dishonour fee of $35||A $35 dishonour fee for failed payments|
You can either make the repayments in regular weekly, fortnightly or monthly instalments.
It could take you just minutes to fill out our easy application form online. Then, we could get back to you with an outcome of your application in just 60 minutes. However, if you apply outside of business hours or we require additional information, it will take longer. But when we are back in the office it means that your applications will be there ready and waiting for assessment
Our office hours:
- Monday – Thursday: 8 am to 6 pm
- Friday: 8 am – 4 pm
- Saturday: 8 am – 12 pm
- Sunday: Closed
Once we’ve approved your loan application, we will contact you, extending you an offer for a loan. As soon as you accept your loan contract we’ll transfer your funds to you! That means you should receive your funds the same very same day you apply. However, the speed at which it takes for the money to reach your account does depend on what bank you are with as some banks are more rapid than others.
The great thing about our Jacaranda loans is that when you need a loan there are no limits on what you use the loan for. The sky’s the limit. However, here is a list of some of the common reason why people need a loan in the first place:
- Pay for car rego
- Get your car serviced
- Purchase a new household appliance
- Pay for a holiday
- Cover an unexpected medical or dental bill
- Down payment on a car
- Debt consolidation (only our secured loans above $2,000 can be used for debt consolidation)
- Pay for a professional training course
- Finance concert tickets
- Home renovation
When you need a loan, often it’s during the most stressful of circumstances. Therefore, it isn’t always possible for us to think things through when it comes to borrowing money. Nevertheless, getting a loan can be a great solution to cover unexpected costs. Here is a list of some of the things you should ask yourself when deciding if you need a loan:
- Can you afford the repayments?
This is the most important thing to look out for when deciding if you need a loan. The best way to do this is to use a budget planner to help you work out what your monthly expenses are and to see whether your repayments can comfortably fit within in your budget.
- Do you agree with the terms and conditions of the loan contract?
Since borrowing a loan is a legal responsibility for both the lender and the borrower it is important that you agree with the terms and conditions of the loan contract. Make sure you understand all your responsibilities as a borrower and be clear about what all the fees and charges are.
- How will this affect my credit score?
A loan can affect your credit score in various ways. It can either have a positive impact on your credit score or it can damage your credit score. If you are consistent with making your payments on time, this can actually raise the value of your credit rating. However, if you are not consistent with making your payments on time it can damage your credit rating and further inhibit your ability to gain access to credit in the future.
When you need a loan, you’ll be pleased to choose Jacaranda as your loan provider based on the following features Jacaranda Finance offers:
- 100% online
One of the best things about Jacaranda Finance is that from our application form to the approval process, our loans are 100% online. That means that if you need a loan, you don’t even need to leave your house. All you need to do is fill in the application form from wherever you are at the time.
- Super quick application process
One of the benefits of our online application process is that it is much quicker. The simple application form could take just minutes to complete. Plus, we could get back to you with an outcome of your loan in an hour or longer.
- No paperwork
Since everything is done 100% online, you don’t have to waste any time gathering messy paperwork together. Your precious time can be better spent doing things that are more important to you, don’t you think?
- Amazing customer service team
When you need a loan, come to Jacaranda Finance. An amazing customer service team waiting to take care of you, on call throughout the entire loan application process. Any questions you have, our team will be there to look after you.
- Ability to borrow with us in the future
After you’ve successfully paid off your loan, with us, you can another loan with us straight away. The great thing is that we don’t always do credit checks for our existing customers.
Ultimately, when you need a loan, remember Jacaranda Finance and make us your port of call. We understand that life throws out curveballs, and we’re going to be here for you for when that happens. Our loans are online and completely hassle-free because we don’t see the point in wasting any of your valuable time. So if you need a loan today, apply with us today!
If you want to learn more about money management, head over to the MoneySmart website.