How do I apply for Small Loans?
You can apply at anytime from anywhere! as long as you have an internet capable device you can apply from your office, lounge room or the park it’s that easy! There are a few things we need to check first to make sure you are eligible to apply for one of our small loans.
- You need to be at least 18 years of age
- An Australian Citizen or Permanent Resident.
- You will need to have a regular income into a personal bank account.
- Receiving a regular income for at least 3 months from an employer or Centrelink.
Once you have all those box’s ticked then we can move onto the easy 4 min online application process!
- Submit Application online – this part usually takes most applicants 4 minutes to complete!
- Get conditionally approved – based on your personal details we will determine if one of our loans is suitable for you.
- Supply supporting data – Unlike most lenders we utilise the latest and safest banking technology that will obtain 90 days of bank statements in seconds!
- We assess your situation – As responsible lenders we want to make sure you can comfortably pay back one of our loan products.
- Money transferred upon approval – Once approved the money will be transferred into your account within 60 minutes, depending on which bank you are with.
If you bank with the Commonwealth Bank you will have the money in minutes!
How does Jacaranda Finance process small loan applications?
Small loans are processed on an hourly basis at Jacaranda finance. We have a team of customer service loan professionals who can help you through the steps of your small short term loan at any time over the phone. The process usually starts with your online loan application being submitted. It is then picked up and assessed by our loans or small loans department who assess your situation and your ability to comfortably pay back the loan.
We do a quick credit check to ensure affordability and suitability, we are however much more lenient than traditional lenders. Finally if all of this looks good and is within business hours then your loan will be approved mostly within 60 minutes! Wow I hear you say! yep 60 minutes! Ready to apply? Our dedicated loan specialists are standing by so get online now and apply! it will only take you 4 minutes! So what are you waiting for start your Jacaranda finance partnership NOW!
Example of how our small personal loans work.
- Loan Amounts: Minimum $400 to Maximum $2,000.
- Terms: Minimum 16 weeks to Maximum 50 weeks.
- Costs: Up to 20% Establishment Fee charged upfront plus a monthly fee up to 4%. Under the current legislation Jacaranda Finance Pty Ltd does not charge an annual interest rate. You may know this as Annual Percentage Rate or APR(%).
- Example: Loan Amount of $1,000 over 50 weeks repayable weekly $1,000 (Principle Amount)+ $200 (20% Establishment Fee) + $480 (fees based on 4% per month over 50 weeks) = $1,680 total repayable in 50 weekly installments of $33.60.
Example of how our medium secured personal loans work.
- Loan Amounts: Minimum $2001 to Maximum $4,600.
- Terms: Minimum 13 months to Maximum 24 months.
- Costs: Annual Percentage Rate (APR) is 48%. Comparison rate is 66.0347% p.a. This comparison rate is based on a Jacaranda Secured Medium Loan for an amount of $2500 over 2 years and a $400 establishment fee. Fees and charges are payable.
- Example: Loan Amount of $3,000 over 18 months repayable weekly $3,000 (Principle Amount)+ $400 (Establishment Fee) + $1378.87 (other fees) = $4,840.14 total repayable over 18 months with weekly installments of $61.27.
- For more information about the allowable fees and charges for SACCs & MACCs visit the MoneySmart website.