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Home > Personal Loan Comparison: What Does It Mean and How To Start?

Personal Loan Comparison: What Does It Mean and How To Start?

Personal Loan Comparison: What Does It Mean and How To Start?

Looking for a personal loan comparison?

When you’re looking to borrow money, conducting your own personal loan comparison can be very confusing. If you’ve been googling ‘personal loan comparison Australia’, ‘personal loan interest rates comparison’ or ‘personal loan rate comparison’ you probably already know how many online lenders are on the market and what a big job personal loan comparison is. We’re here to help you flip through the pages of google results and find the lender that you need. 

If you need quick cash loans, you want a lender you can trust to give you the fair, reasonable and competitive rate you deserve. You want Jacaranda Finance. We make it simple for our applicants to see what a fast cash loan could cost. Scroll up right now and use our loan calculator to get a better idea of what a personal loan may cost.

What is a personal loan comparison rate?

A comparison rate is a tool to help borrowers work out the possible costs associated with an online loan. It reduces the interest rate and most fees and charges of a loan down to a single percentage. The comparison rate helps borrowers compare personal loans from different lenders with ease.

So, if you are comparing personal loans from different lenders, pay attention to the relevant comparison rates. Before you apply, we can give you an estimation of the interest rate, fees and charges associated with a personal loan. Head over to the costs page to get an idea of what a personal loan could cost you. Keep in mind, however, that comparison rates are only true for the examples are given, and may not include all fees and charges.

What is the best personal loan to get?

If you’re searching the web for a personal loan comparison tool, then you’re probably trying to weigh up the best possible loan option. Generally, however, most fees and costs are only determined after you submit an application. Submitting several applications can reflect poorly on your credit report, so instead, apply with a lender you can trust to deliver quality online rates. 

Jacaranda Finance is an award-wining online lender that is always on hand to give every Aussie a fair go at the finance they need. When the banks say ‘no’, Jacaranda can say ‘yes’. When a pipe bursts and the kitchen is flooded, you don’t need a convoluted application with endless phone calls. You need an online application you can submit in minutes, speedy outcomes and money in your bank and ready to use in 60 seconds*. You need Jacaranda Finance. 

Who gives the best personal loans?

When comparing lenders, you’re almost spoilt for choice. It can be hard to know who provides the best personal loans. You want a lender that cares, that is 100% online for your convenience, and that provides a fast service. That’s Jacaranda Finance!

Jacaranda Finance has provided loans for thousands of Aussies across the country. We look at more than just your credit score. As a result, we assess your current relationship with money to determine your suitability for a loan. Our team looks at the whole picture and conducts a fair and reasonable assessment of all personal loan applications. 

Our personal loan comparisons also comply with responsible lending practices. If we believe an applicant cannot afford the loan repayments, we cannot approve their application. Responsible lending is a set of practices to ensure lenders act responsibility when approving loans. At Jacaranda Finance, we uphold this to the highest standard. Our team understands the importance of assessing the entire situation before making a decision.

Can you get a personal loan with a credit score of 550?

If you’re concerned that bad credit will prevent you from being approved for a loan, an online lender may be the right choice for you. Generally, online lenders have a fresh take on poor credit compared to the big banks.

At Jacaranda Finance, we think all Aussies deserve a fair go. Therefore, we won’t make a judgement based solely on your credit score. After all, our team knows that things can change in 7 years. Why should a mistake you made back then affect your ability to get a loan now? We take into consideration how you’re going to pay back the loan, rather than just a number.

What is unsecured personal loan comparison?

Unsecured personal loan comparison is essentially comparing the rates of unsecured personal loans, instead of secured loans. When you take out an unsecured loan, there is no need to attach any collateral as security. 

Comparing the rate on a personal loan is always a good idea so you find the best loan for you. If you’ve been googling ‘unsecured personal loan comparison’, skip the hassle and apply with Jacaranda Finance today for an unsecured loan.

What is a secured personal loan comparison?

A secured loan is a personal loan that requires collateral to secure the loan. Generally, online lenders accept collateral in the form of a car, motorbike, caravan or boat; however, it depends on the lender you choose. Collateral is usually required for larger loan amounts over $2,100. 

It can be tricky to navigate the world of secured personal loans, and you may find yourself googling ‘personal loan comparison calculator Australia’. Whether you’re searching for an unsecured or secured loan, Jacaranda Finance provides a comprehensive personal loan comparison calculator so you can get an idea of the costs associated with different loan amounts before you apply. To begin your application, scroll up and use our loan calculator now!

Here’s what to look out for when comparing personal loans

Comparing any type of loan is a vital process that helps you find the best loan for you. You want to be able to find a loan and lender that meet your needs and goals, and you meet theirs.The process of comparing loans is understandably overwhelming, especially if you’re unsure about what you should be looking out for. When it comes to comparing different personal loans from several lenders, there are many factors to consider and keep in mind. Here’s what to look out for when comparing personal loans:

  1. Interest rate. One of the most important aspects to look out for when comparing several loans are the interest rates. As mentioned above, when comparing the interest rates of different loans, make sure you’re aware of what you’re comparing, and more importantly what suits your personal and financial circumstances. One of the main things to compare between several interest rates includes whether it’s fixed or variable. 
  2. Features. All loans from different lenders come with a variety of features. Consider how these features can work to your advantage and what you may not need or use. With Jacaranda Finance, some of our most popular features that simply suit everyone is our fee-free extra repayments. We will always encourage you to pay off your loan early and save money on repayments and interest. There are many more features to compare with different lenders including redraw facility, flexible repayment cycles, etc. 
  3. Fees and charges. As all loans will have an interest rate, another thing to look out for when comparing loans is any associated fees and charges. Those costs are important factors of your loan’s true cost. While we don’t have any hidden fees, some lenders will so make sure to look out for that when comparing personal loans!

With all these factors in mind, you should have a clear idea of what to look out for when comparing personal loans. After all, you want to ensure the loan and lender will meet your personal and financial needs now and in the long run.

Can I get a fast personal loan?

If you’ve been googling ‘personal loan comparison rate’ or ‘personal loan comparison calculator’ then you’re probably wondering whether you can get a personal loan. To apply all you need to do is meet the requirements below: 

  • You will need to provide us with 100-points of identification;
  • All applicants must be over the age of 18;
  • You must have received some type of regular income for the last 90-days into a bank account that is your own;
  • All applicants must have an active mobile phone number and email address;
  • You must have internet banking set up and ready to be used.

Our requirements are pretty simple, but if you do have any questions, we encourage you to get in touch or head over to our FAQ page. You can stop the personal loan comparison because you’ve found a lender that can deliver an outcome in 60 minutes** and if approved, we can have your funds in your bank and ready to use in 60 seconds*. 

What documents do I need to submit when applying for a personal loan?

Our 100% online application could only take you a matter of minutes to complete, just have this information handy when you apply:

  • Personal details like your online banking & employment info;
  • An active email address and mobile number;
  • The reason you are applying for the loan;
  • Your MyGov details (if you are receiving Centrelink payments);
  • Employer contact details.

If you have any questions about the information we require to assess your personal loan application, please contact our friendly team. We’re always happy to help.

Why do you need my online banking details? 

We require your online banking details, so we access copies of your bank statements. This is how we give every Aussie a fair go at the loan they need, plus providing a paperless application! We assess your bank statements to gain a better idea of your current relationship with money. 

Our focus is mainly on income, regular transactions in and out of your account and spending patterns. Jacaranda Finance uses the latest in secure banking technology to ensure your information is encrypted. In other words, no one will ever be able to see your personal information or passwords.

Can I get a loan without an employment check?

Generally, online lenders will contact an employment check to verify your identity and source of income. An employment check is a routine step in the loan assessment process and should be conducted discreetly.

As a part of our commitment to responsible lending, Jacaranda Finance does conduct employment checks. Our team will also get in touch with your employer as a way of verifying your income and employment status.

If you’re worried about Jacaranda contacting your employer, there is no reason to be. Our team is professional when conducting employment checks. We will never disclose any of your personal or private information to your employer. You can rest easy in the knowledge that we will never discuss why you are applying for a loan either.

What personal loans can I apply for?

If you’ve been googling ‘personal loan interest rates comparison’ or ‘personal loan comparison Australia’ then you’re probably looking for a compeitive loan. We’ll save you the hassle. After all, we’ve already helped thousands of Aussies find the finance they’re looking for. Here are some examples of the loans we’ve already approved:

Quick Cash Loans OnlineAmountApproved
Speedy Loans Online$700
Quick Cash Online For Bad Credit$2,200
Cash Loans For Bad Credit$4,000

Disclaimer: The above examples are for demonstrative purposes only. They do not, in any way, reflect the terms of your possible quick loan, or the amount you may be approved for.

How can I get a personal loan fast?

Applying for a personal loan should be fast and easy. You can apply with us in three simple steps. No fuss, apply for the loan you need now, and if approved, you could receive the funds in your bank and ready to use in 60 seconds*. 

Follow the three steps below to apply:

Step 1: You apply online

Scroll up and use the loan calculator at the top of the page to enter a loan amount and repayment period of your choice. Next, when you’re happy simply hit ‘apply now’! Customers will now be directed to our 100% online application.

Our online application could only take you a few minutes to complete. Next, our team will begin the assessment process. Then, you could even have an answer from us within 60 minutes**. 

Step 2: We assess your application

If your loan application is successful, we will send over an agreement for you to review and sign. Our Jacaranda lending team suggests you read the agreement carefully and make yourself aware of any fees or charges you could incur for late payment. Finally, if you have any questions regarding the agreement, you can always get in touch.

Step 3: Money in 60 seconds*

If you’re approved, we’ll send you a loan contract to review, sign and send back. When we have received the signed copy of your agreement, our lending team will transfer the money straight into your account. Thanks to instant banking the cash could be in your account and ready to use in just 60 seconds*.

Got burning questions?

If you’ve got questions whether they be regarding personal loan comparison or anything else, our team has the answers. Head over to our FAQ page or get in touch today! We’re always happy to help.

Want to know more? Find out how Jacaranda could provide funeral loans, swimming pool loans, debt consolidation loans, even loans for people with poor credit scores!

*most approved applicants have their money in their bank account and ready to use within 60 seconds once they have accepted their digital contract.

**subject to when you submit your application

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Last updated: 13/05/2020, 3:57pm

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💰 Personal Loans starting from 7.89% (8.73% p.a. Comparison Rate)

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