What is a 5K loan?
A 5K loan is just a personal loan for $5,000. A 5K cash loan is usually considered to be a secured loan. What is a secured loan? A secured loan is for larger amounts of cash and usually requires an asset to be attached. Why do you need to provide collateral against a secured loan? Due to the fact that a secured loan is a bigger risk for a lender, an asset acts as a form of insurance. In most cases, an online lender will accept a car, motorbike, caravan or boat as collateral but this can differ from lender to lender.
Jacaranda is an online lender providing Aussies with hassle-free finance. Our personal loans are 100% online. We won’t ask you to complete any paper forms or step foot inside a branch. You can apply from the comfort of your own home and possibly receive an outcome in just 60 minutes when you submit your form during AEST business hours. At Jacaranda, we don’t believe in long waiting periods. We understand that when you need a 5K loan there is no time to waste.
Have you been rejected by traditional lenders in the past? If so, you’ll be pleased to hear that Jacaranda is an open-minded lender. We assess each application on a case by case basis. So, if you’ve got bad credit or you’re receiving Centrelink payments you could still apply for a 5K loan. The Jacaranda team can not guarantee approval on any personal loan product, however, we can guarantee you will receive a fair and reasonable assessment.
How much does it cost to apply for a loan?
Nothing! An application with Jacaranda is completely cost-free. You can use the loan calculator at the top of the page to get started. The Jacaranda team will assess your application and get back to you with an outcome. If you’ve been unsuccessful we won’t ask you to pay a cent. We encourage potential borrowers to go ahead and submit an application. We will take a realistic look at whether or not you will be able to afford a 5K loan. If you’d like to ask us a question regarding the application or assessment process feel free to shoot our team a message.
What is the repayment period on a 5K loan?
Have you been googling ‘5k loan over 4 years’, ‘5k loan over 5 years’, or ‘5k loan over 3 years’? At Jacaranda Finance you can repay a 5K loan over a period of 13 to 24 months. How do the repayments work? Our team will arrange a direct debit from your account on either a weekly, fortnightly or monthly basis. We will do our best to set your repayments in line with your payday so there is always adequate cash in your account.
If, for some reason, you don’t think you’ll be able to make a repayment it is important to get in touch with the Jacaranda team straight away. If you contact us 24 hours in advance we will do our best to arrange an alternative payment schedule. We’re here to make your experience stress-free.
Can I get a 5K loan with bad credit?
Have you been googling ‘I need a 5k loan with bad credit’, ‘get a 5k loan with bad credit’, or ‘how to get a 5k loan with bad credit’? Jacaranda Finance accepts applications from individuals who have poor credit scores. We can not guarantee approval, but we can guarantee we will assess your application objectively.
Our team will take a look at where you’re currently at with your finances. We won’t base our assessment entirely on the past. The Jacaranda team might access your bank statements to assess your spending habits, income and existing financial commitments to determine whether or not you can afford a personal loan. At Jacaranda Finance, we are proud to be giving Aussies the second chance they deserve when it comes to bad credit loans.
Who can apply?
If you’re ready to get started on a 5K loan application then there are a few simple criteria you’ll need to meet. All applicants must:
- Be over 18-years old;
- Be an Australian citizen or permanent resident;
- Have received a regular income for at least 3-months;
- Have an active mobile number and email address.
If you can say ‘yes’ the criteria above then we encourage you to scroll up and get started on an application.
Jacaranda Finance is completely paperless. Not only do we want to do our part for the environment but we also understand how time-consuming pages and pages of paper forms can be. We’ve made it simple and straight-forward for Aussie’s to apply for a 5K loan using our 100% online application form. All the necessary documentation can also be submitted 100% online. Here is what we suggest you have handy:
- Personal contact details e.g. active mobile number and email address;
- The reason for your loan;
- Internet banking details;
- MyGov details (if applicable);
- Employment details.
Why does Jacaranda need my online banking details?
Don’t worry, we won’t use your online banking details to look at your real bank account. At Jacaranda, we use borrowers online banking details to access read-only copies of bank statements. Why might Jacaranda look at your bank statements? Our team takes a realistic look at where you are currently at with your finances. Your last 90 days of bank statements allow us to view spending habits, income and financial commitments to determine whether you can afford a 5K loan.
At Jacaranda, we use a third-party provider with bank-level encryption to make sure your information is always kept safe. No one will ever be able to see your personal information or passwords. Feel free to get in touch with our friendly lending team if you’ve got questions.
Will Jacaranda call my boss?
In some cases, a member of our assessment team will get in touch with your workplace to conduct an employment check. This is only done when we are requesting more information that you have already supplied. Our team will always conduct themselves with professionalism and discretion whilst conducting employment checks. None of your personal information or the reason why you are applying for a loan will ever be disclosed to your employer. If you’d like to know more about employment checks at Jacaranda you can head to our FAQ page or ask the team.
What can I use a 5K loan for?
There is a whole range of different expenses you could use a 5K loan to cover. Here are just a few examples:
5k renovation loan
Think about doing a bathroom renovation? Maybe you’re considering a new pool? Whatever the renovation, Jacaranda could have the 5k renovation loan to make it happen. So, stop putting it off and apply today. It could only take you a few minutes to complete our 100% online application form. You could have an outcome in just 60 minutes2 if you submit your form during AEST business hours.
5k holiday loan
Are you planning a holiday? Don’t let finance stand in your way! Apply for a holiday loan with Jacaranda and you could be setting off on the holiday of your dreams. Apply for $2,500 to $15,000 today and you could have the cash in your account in just 60 seconds3 if your bank account is NPP or Osko enabled. Got questions? Get in touch with the friendly Jacaranda team today!
How can I apply?
Want to apply for a 5k loan? Get started on an application and let Jacaranda show you how simple it could be to get the cash you need, fast! Here’s what you’ll need to do:
Head to the Jacaranda loan calculator at the top of the page to enter the amount you would like to borrow and the period you would like to repay it over. You will be able to see what your weekly, fortnightly or monthly repayments could be. Keep in mind this is just an estimate.
Fill out the form
We will need a few details to properly assess your loan application, but don’t stress, you won’t have to fill out any paper forms. Our 100% online application form could only take you a few short minutes to complete. Remember, if you submit your form during AEST business hours we will endeavour to deliver an outcome in just 60 minutes2.
We find you a loan
The Jacaranda team will get to work finding you a compatible loan product. You can sit back and relax. Let us do the hard work for you!
Sign your contract
If the Jacaranda team has been able to match you with a loan we will send over an agreement for you to review and sign. Remember to read through your agreement and make yourself aware of the full terms and conditions before signing. If you’ve got questions, just shoot us a message or give us a call.
Get your cash
Once we receive a signed copy of your agreement we’ll deposit your loan. If your personal bank is NPP or Osko enabled you could have the cash in your account and ready to use in just 60 seconds!3
Save money with these 4 easy tips
Saving money is usually easier said than done. Often when we begin to save a little bit of extra cash, an unexpected expense pops up to throw our whole budget out of whack. You should be prepared for these sorts of things. Below we’ve provided a list of things you can do to save money quickly:
- Set a savings goal: Whether you’re planning on going on holiday, doing some home renovations or just want a little extra in the bank for a rainy day, setting a savings goal can help you get there. Simply figure out how much you want to save and by what date or time. This can motivate you to work harder in order to earn more or be more frugal with your spending.
- Pay off your debt: If you have money left over after paying your regular expenses, it may be a good idea to chip away at your outstanding debt. Paying off your debt sooner can save you a lot of money in interest as well as giving you the piece of mind of edging closer to a debt free life! Start by paying off the smallest account or the account with the highest interest rates first.
- Set up a seperate savings account: Setting up an online savings account that is separate to your current account is a great way of managing your money. Think of this as an emergency account. Start by depositing a sum of money into this account and then never touching it unless it’s for an absolutely necessary expense. Then every month you can add more to it. This account will also generate interest as it sits there untouched.
- Change your spending habits: Accelerate your savings by changing or your cutting out unhealthy spending habits. For instance, if you’re an avid coffee drinker and you purchase 1 large coffee a day, you could switch to a small. Better yet, cut out the expense completely and make a coffee from either home or work.
Want to read more?
Head to the Jacaranda blog!
Find out more about an unsecured loan or instant cash loans no credit check!
Need to register your car? We’ve got the cash for that!