Personal Loans For Bad Credit Up To $10,000 | Fast Approvals | Apply Now
Personal loans for bad credit up to $10,000. Find out more right here…
Personal loans for bad credit could be the answer to your financial stress! If you have previously been told that you are not eligible for a personal loan due to your credit score, our bad credit loans might help you turn that around. So, if you’re keen to find out more about personal loans for people with bad credit, we have all the information that you need right here!
The short answer is, yes! It is absolutely possible to appply for cash loans with bad credit. Here at Jacaranda Finance, we know that having a bad credit rating doesn’t necessarily mean you’re not good with your finances. Your bad credit may be a result of things that were out of your control at the time.
Perhaps you’re also now working hard to repair your credit and change the way you handle money. Therefore, we always like to look to the future with our clients. In fact, borrowing bad credit loans Australia can sometimes help to show other credit providers your ability to meet your contractual repayments over a set term. This will help to vouch for your ability to handle credit responsibly.
Anyone who meets our eligibility requirements can apply for our bad credit personal loans. So, before you apply, make sure you qualify. You just need to be:
- At least 18 years of age
- Earning a regular income, for a minimum of 90 days prior to applying
- An Australian citizen or permanent resident
- Able to provide a valid mobile number and email address
Getting personal loans for people with bad credit is easier than ever with our quick and easy online cash loans application process. All you need to do is head to our home page from your smartphone, tablet or computer. From there, you just enter the amount you’d like to borrow in our loans calculator and select the length of your repayment period then click ‘Apply Now’.
We’ll ask you to fill out some contact and personal details and the reason for your loan. As well as your internet banking credentials so we can verify your current financial situation.
Don’t let the idea of entering your internet banking details scare you off. The reason we ask for these credentials is so we can get an accurate representation of your whole financial situation, including your income, expenses, spending habits and overall relationship with money.
We use cutting-edge technology that will use the details you provide to access a read-only copy of your bank statements from the last 90 days. As soon as our system has retrieved this information, it will delete your details immediately. No one is actually logging into your account, nor will anyone have access to your funds or spending accounts.
This is just the best, most accurate and fastest way for us to assess your situation without making you twiddle your thumbs of hours, maybe even days, while you wait for us to do everything manually. Plus, if we can see that you have been making an effort to improve your credit score over the last 3 months, you could be much more likely to receive approval on your application.
Once again, the short answer is yes, we do conduct credit checks on all new applications.
Credit checks are certainly not the only thing that we base our assessment off. We believe that we can get a much better idea of your financial situation by looking at your current income and spending habits, rather than your past credit history alone. We understand that everyone makes mistakes and, sometimes, these mistakes are from situations that were out of our control. It’s not fair for us to judge you solely on those past mishaps.
So, while we don’t offer cash loans no credit check fast approval, we may still be able to help!
So, why not apply online with us for our easy bad credit loans!
Just becasue you can’t get instant cash loans Australia no credit check, don’t mean you don’t still have options. If you are applying for cash loans with us and you do have bad credit, we have a few options for you to choose from. At Jacaranda Finance, we offer three types of personal loans. These are:
- Small unsecured personal loans
- These range from $300 to $2,000
- Are repaid over a 12 month period
- Do not require security
- Medium secured personal loans
- Range from $2,001 to $4,600
- Repaid over 13 to 24 months
- Require security
- Large secured personal loans
- Range from $5,000 to $10,000
- Repaid over 13 to 24 months
- Require security
If you do have bad credit, you may want to check out a secured personal loan. It’s completely up to you, at the end of the day, which loan you apply for. We will give your application a fair assessment regardless of the amount you are applying for and will only grant you a loan if the repayments are affordable. However, secured loans require an asset to be attached to the loan for security. We accept your car, motorbike, boat, caravan for security against your loan. This security means that lenders take less of a risk when approving secured loans.
Essentially, this all means that if you do default on your loan and stop paying it back, lenders can claim your asset and sell it to recover the funds that you owe. However, this is the absolute last resort if all attempts to contact you fail.
There are a variety of different reasons that people apply for bad credit loans. Typically, our clients apply for easy bad credit loans when they have an unexpected bill or emergency expense that’s popped up and they don’t have the funds to cover it themselves.
This is one of the main reason our clients apply for any type of personal loan, however, sometimes that credit score does get in the way. That’s what we’re here for!
Some examples of what people have applied for in the past are:
- Overdue school fees
- Emergency vet bills and pet finance
- A higher than expected utility bill
- Medical bills
- Holiday expenses
- Car repairs/ maintenance
We are a 100% online company. Therefore, you won’t have to waste time making appointments with bank managers or waiting in queues.
If your application is submitted during business hours you could have an outcome within 60 minutes! However, if we require any additional information, it can take a little longer to hear from us. Just be sure to keep an eye on your phone and email and we’ll get back to you as soon as we can.
If you are approved, we’ll send you your loan contract to read through carefully and then accept. Once we receive you’re happy and have accepted your contract, we’ll transfer you the cash to your nominated bank account. The amount of time it takes for the funds to reflect in your account will depend on the policies of the bank you are with. Most of our clients generally receive they quick cash loans within 24 hours (or the next business day) of the funds being transferred, many even receive it that same day.
We sure do!
Bad credit car loans are certainly something that we are able to offer for eligible clients. These loans are simply standard car loans that are available to people who have bad credit. They are bad credit secured loans that are regularly used by those who have been knocked back by banks and other lenders due to their poor credit history, bankruptcy or part 9 debt agreements.
At Jacaranda Finance, you can apply for bad credit car finance between $8,000 and $100,000. Therefore, whether you’re wanting used car loans to get you from A to B or you’re after some luxury wheels to take you wherever you want to go, we may have you covered.
All of our bad credit car loans are secured. As long as you keep up with your minimum repayments and stay in contact with us regarding any changes in your situation, your car loan will be paid off in no time and you could be looking at a much more impressive credit score… and a shiny new car that is all yours!
Please refer to car loans for more information on our bad credit car loans as they do differ to our quick loans for bad credit.
We are happy to take applications from customers whether they are working or receiving Centrelink payments.
Jacaranda Finance welcomes all loan applicants as we believe in financial inclusions for all Australians. We count some Centrelink payments as regular income. Therefore, if your primary or only source of income is from Centrelink, you are no less welcome than anyone else.
So, as long as you meet our eligibility requirements, you could be one step closer to gaining access to that much-needed finance, despite where your income comes from.
We hear this question a lot, so we have provided the right tools for you to figure out the right loan amount and loan terms. We are straight up about our costs; no fine print or hidden fees!
To figure out how much your loan will cost, check out our handy bad credit loan calculator at the top of this page.
The loan calculator can help you decide how much you can afford to repay and how long it will take you to pay back. We care about your privacy and security so, once you apply for a loan via the repayment calculator, you will be sent a verification code by SMS.
For more information on the standard costs of our personal loans for bad credit, check out our Costs page.
As responsible lenders, we know that a loan is not already the right path for everyone to go down. The nature of a personal loan is that it is something you have to pay back, just like a credit card. Therefore, it is only really a suitable option for those who can fit the repayments comfortably into their budget.
Before applying ask yourself these questions:
- Am I eligible?
- Do I have a genuine purpose for needing credit?
- Could I fund this need by any alternative means?
- Is a personal loan the best form of credit for me?
- Have I done my research and found the best deal for me?
- What are the terms of the loan? Do they suit me?
- Am I 100% confident that I can afford the repayments without having to make any major sacrifices in my budget?
If you have confidently answered all these questions then it is likely that personal loans for bad credit could be your ticket to a brighter financial future – in more way than one!
Small Personal Loan
Up to 20% Establishment Fee
+ monthly fee up to 4%
Jacaranda Finance does not charge an annual interest rate on SACC loans. These small amount loans incur 'fees' instead of interest. The maximum comparison rate on our loans between $300 and $2000 is 199.43%.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
Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.
Loan Amount of $1,000 over 12 months repayable weekly (50 weekly repayments). $1,000 (Principal 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.
Medium Personal Loan
Annual Percentage Rate (APR) is 48%
Comparison Rate is 67.41% per annum.
This comparison rate is based on a medium amount credit contract of $2,500 repaid over 2 years with a $400 establishment fee and APR of 48%.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
Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest*) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.
Loan Amount of $4,500 over 24 months repayable weekly (104 weekly repayments). $4,500 (Principle Amount) + $400 (Establishment Fee) + $2,732.56 (reducing interest*) = $7,632.56 total repayable over 24 months with weekly installments of $73.39.
Large Personal Loan
Annual Percentage Rate (APR) is 21.24%
Comparison rate is 48% per annum.
Loan Amount of $5,000 over 18 months repayable weekly (78 weekly repayments). $5,000 (Principle Amount) + $2,027.80 (Interest) = $7,027.80 total repayable over 18 months with weekly installments of $90.10.
Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.