Personal Loan Income Information

Name: Pay Calculator | Personal Loan Income Requirements
Brand: Jacaranda Finance
Rating: 4.9 (2996 reviews)

Applying for a personal loan can be a tough decision. Which loans can I get? Which lender should I choose? How much would I have to repay? Jacaranda Finance offers easy personal loans for everyday Aussies who quickly need to improve their cash flow. We know life can be difficult sometimes, but we've got your back. We tell you everything you need to know about personal loans, income requirements, and repayments. And we'll even explain to you how to work out your estimated repayments upfront with a pay calculator.

4.9/5

Google Review

4.8/5

Word of Mouth

4.9/5

Trustpilot

4.7/5

Product Review

Check If You Qualify

With no impact on your credit score!

Check If You Qualify with no impact on your credit score!

I'd like to borrow

*Subject to lending criteria, T's and C's'

Get Started Now

*Subject to lending criteria, T's and C's'

A man applying for quick loan through his laptop

Am I eligible for a loan?

You must meet the following basic eligibility criteria before submitting an application:

Be at least 19 years of age.
Be employed on a permanent or casual basis.
Have a consistent income going into your own bank account for the last 90 days.
Be in control of your finances and be handling existing financial commitments comfortably.
Be an Australian citizen or permanent resident with a fixed address.
Have an active email address, phone number, and online banking account in your name that belongs to you.

If you are unsure whether you're eligible, you can check if you qualify initially. This will not impact your credit score.

We accept a wider range of credit history than a bank or a prime lender, but we do not recommend submitting an application if:

You are currently or recently bankrupt (you must be three years discharged and in control of your finances)
You are not comfortably repaying your existing financial obligations

Information you will need to provide:

Basic personal information (i.e. full name, address, D.O.B, employer, dependant number)
Online banking details

There are instances where our team may need to request further information or supporting documents from you. Don't worry, we will let you know exactly what we need and why we need that information from you.

What is the difference between gross and net income?

When thinking about your income, two figures are important: your gross income and your net income. What's that you ask?

Your gross income is the money you earn before any additional expenses have been taken from your account. It equals your salary before tax.

Your net income is your take-home pay, the money you actually keep in your bank after subtracting tax, your health insurance, and contributions to a retirement fund.

Why is that important? If you want to make informed financial decisions, you should know how much money you have left over to spend each month. And it's not only important for you, but it is to us too! When you apply for a personal loan, among other things, we look at your net income to decide whether the loan is right for you or not. If you don't want to do the maths yourself, we recommend using a pay calculator to work out your loan repayments.

How do you calculate your take-home income with a pay calculator?

You will find many options if you simply type "Pay Calculator" into Google. Most pay calculators are free online tools to help you figure out how much money will end up on your account after taking out the additional expenses. Which additional expenses are we talking about?

Tax
Medicare and other additional health insurance
Retirement savings (superannuation)

Those calculations can be quite tricky but a pay calculator does all the hard work for you. You can find different ones online.

We've included a few links in case you are curious:

PayCalculator

PayGCalculator

CalculatorsAustralia

Do personal loans require proof of income?

Yes, they do. We need to know that you will be able to repay your loan before we lend you money. Jacaranda Finance, however, is different from other traditional lenders. While we want to know your income, we won't make you fill out tons of paperwork. Instead, an online banking account with at least 90 days (3 months) of income history is enough. We are 100% online, therefore, you won't have to copy or fax bank statements and, in fact, we don't even accept them through email. Our security banking service will ensure that your data is safe. We connect to your account with a read-only-access for maximum safety.

What is needed to qualify for a personal loan?

We at Jacaranda believe that everyone should have access to personal finance. Therefore, we give everyone a fair go and encourage anyone to apply for a personal loan. We know every financial situation is different and sometimes, a bank statement just doesn't reflect your current situation right. We take that into consideration and assess carefully if our product suits your needs. Additionally, as responsible lenders, we are not going to approve of a loan if we don't think you can comfortably afford the repayments. If we can't offer a loan, we might recommend a different lender that would be a better match.

If you want to find out if you qualify for a personal loan, we just some basic information about you. This includes:

Your personal details (including your name, date of birth and address);
The login details for your online banking account;
Your reason for applying;
Otherwise, we need details about your current workplace and relevant employment info.

How Jacaranda can help

In short, we offer easy, same day loans from $3,000 - $25,000. It is our mission to provide Australians with quick cash solutions when they really need it. Our application is super-fast because we've developed back-end solutions to speed up the process. We won't waste your time when it matters the most. You will receive your result quickly while we make sure that our loan is a good fit for your personal situation.

We at Jacaranda Finance think traditional lending models are outdated. While traditional lenders struggle to capture your full financial situation, it's also hard for you to tell what will be leftover by the end of the month. That's where we jump in. We are your local lender for small, medium, and large personal loans that are fast, transparent, and 100% online. We believe in equal chances for everyone, therefore, we encourage everyone to apply.

Transparency is important to us, our products have no hidden fees, no early exit costs. You will know everything up front as it's clearly stated in your contract that we highly recommend reading before signing. If you want to get an idea up front, we recommend using a pay calculator to understand your take-home income.

What personal loans does Jacaranda offer?

We offer three main products at Jacaranda:

For detailed information about who our products are designed for, please review our Target Market Determinations. Use our loan repayment estimate calculator to get a guide on what your repayments could be. To get an idea of what rates, fees and charges are associated with our loans, visit our rates and fees page.

Interest Rate

Comparison Rate

Loan Term

Repayment Cycle

Secured or
Unsecured

Establishment Fees

Monthly Fees

Risk Fee

Comparison Rate Warning*

Unsecured
Personal Loan

$3,000 - $15,000

Interest Rate

19.95% to 29.95%

Comparison Rate

About Comparison Rate

A comparison rate allows you to understand the more accurate cost of taking out a loan. It includes the loan's interest rate plus some associated fees and charges.

It's a legal requirement for lenders in Australia to display the comparison rate whenever an individual rate is displayed. A high comparison rate could be an indication of high hidden fees. See also: Interest rates vs comparison rates.

36.11% to 47.50%

Loan Term

25 - 36 months

Repayment Cycle

Weekly, fortnightly or monthly

Secured or
Unsecured

About Security

A secured loan is a type of loan that requires security, also known as collateral. An unsecured loan does not.

Since your security can be repossessed by the lender if you cannot make your repayments, secured loans generally come with higher loan amounts and more competitive loan terms. See 'secured vs unsecured loans' for more information.

Unsecured

Establishment Fees

About Establishment Fees

An establishment fee (or application fee) is the one-off, upfront fee a lender charges for submitting your application. It covers the costs of assessing your application and paying the staff to do so.

This fee is charged as a standard rate based on how much you're applying for. Read 'personal loan fees explained' for more information.

$129 to $990

Monthly Fees

About Monthly Fees

The monthly fee is an ongoing fee charged to cover the administration costs of managing your loan. This fee will be debited monthly and will depend on the amount you borrow plus the term of your loan. Read 'personal loan fees explained' for more information.

$26 p/month

Risk Fee

About Risk Fee

Also known as a credit fee or risk margin, the risk fee covers the level of risk associated with your loan. Risk fees vary based on a number of factors, primarily your loan amount, credit score, financial history and more.
Read 'personal loan fees explained' for more information.

$0 to $1,295

Comparison Rate Warning*

Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
Secured
Personal Loan

$3,000 - $25,000

Interest Rate

16.95% to 29.95%

Comparison Rate

About Comparison Rate

A comparison rate allows you to understand the more accurate cost of taking out a loan. It includes the loan's interest rate plus some associated fees and charges.

It's a legal requirement for lenders in Australia to display the comparison rate whenever an individual rate is displayed. A high comparison rate could be an indication of high hidden fees. See also: Interest rates vs comparison rates.

32.99% to 45.50%

Loan Term

25 - 36 months

Repayment Cycle

Weekly, fortnightly or monthly

Secured or
Unsecured

About Security

A secured loan is a type of loan that requires security, also known as collateral. An unsecured loan does not.

Since your security can be repossessed by the lender if you cannot make your repayments, secured loans generally come with higher loan amounts and more competitive loan terms. See 'secured vs unsecured loans' for more information.

Secured

Establishment Fees

About Establishment Fees

An establishment fee (or application fee) is the one-off, upfront fee a lender charges for submitting your application. It covers the costs of assessing your application and paying the staff to do so.

This fee is charged as a standard rate based on how much you're applying for. Read 'personal loan fees explained' for more information.

$125 to $1,190

Monthly Fees

About Monthly Fees

The monthly fee is an ongoing fee charged to cover the administration costs of managing your loan. This fee will be debited monthly and will depend on the amount you borrow plus the term of your loan. Read 'personal loan fees explained' for more information.

$26 p/month

Risk Fee

About Risk Fee

Also known as a credit fee or risk margin, the risk fee covers the level of risk associated with your loan. Risk fees vary based on a number of factors, primarily your loan amount, credit score, financial history and more.
Read 'personal loan fees explained' for more information.

$0 to $995

Comparison Rate Warning*

Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.

This is not an offer for credit. The amount you can borrow as well as the offer you receive may vary once you complete an application and all relevant details are captured and verified. Fees, credit criteria and terms and conditions apply. Example tables and calculators are illustrative only and are not intended to be your sole source of information when making a financial decision. Consider whether to get advice from a licensed financial adviser.

Unsecured
Personal Loan

$3,000 - $15,000

Interest Rate

19.95% to 29.95%

19.95% to 29.95%

Comparison Rate

What does it mean?

About Comparison Rate

A comparison rate allows you to understand the more accurate cost of taking out a loan. It includes the loan's interest rate plus some associated fees and charges.

It's a legal requirement for lenders in Australia to display the comparison rate whenever an individual rate is displayed. A high comparison rate could be an indication of high hidden fees. See also: Interest rates vs comparison rates.

36.11% to 47.50%

36.11% to 47.50%

Loan Term

25 - 36 months

25 - 36 months

Secured or
Unsecured

What does it mean?

About Security

A secured loan is a type of loan that requires security, also known as collateral. An unsecured loan does not.

Since your security can be repossessed by the lender if you cannot make your repayments, secured loans generally come with higher loan amounts and more competitive loan terms. See 'secured vs unsecured loans' for more information.

Unsecured

Unsecured

Monthly Fees

What does it mean?

About Monthly Fees

The monthly fee is an ongoing fee charged to cover the administration costs of managing your loan. This fee will be debited monthly and will depend on the amount you borrow plus the term of your loan. Read 'personal loan fees explained' for more information.

$26 p/month

$26 p/month

Repayment Cycle

Weekly, fortnightly or monthly

Weekly, fortnightly or monthly

Establishment Fees

What does it mean?

About Establishment Fees

An establishment fee (or application fee) is the one-off, upfront fee a lender charges for submitting your application. It covers the costs of assessing your application and paying the staff to do so.

This fee is charged as a standard rate based on how much you're applying for. Read 'personal loan fees explained' for more information.

$129 to $990

$129 to $990

Risk Fee

What does it mean?

About Risk Fee

Also known as a credit fee or risk margin, the risk fee covers the level of risk associated with your loan. Risk fees vary based on a number of factors, primarily your loan amount, credit score, financial history and more.
Read 'personal loan fees explained' for more information.

$0 to $1,295

$0 to $1,295

Comparison Rate Warning* Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.
Secured
Personal Loan

$3,000 - $25,000

Interest Rate

16.95% to 29.95%

16.95% to 29.95%

Comparison Rate

What does it mean?

About Comparison Rate

A comparison rate allows you to understand the more accurate cost of taking out a loan. It includes the loan's interest rate plus some associated fees and charges.

It's a legal requirement for lenders in Australia to display the comparison rate whenever an individual rate is displayed. A high comparison rate could be an indication of high hidden fees. See also: Interest rates vs comparison rates.

32.99% to 45.50%

32.99% to 45.50%

Loan Term

25 - 36 months

25 - 36 months

Secured or
Unsecured

What does it mean?

About Security

A secured loan is a type of loan that requires security, also known as collateral. An unsecured loan does not.

Since your security can be repossessed by the lender if you cannot make your repayments, secured loans generally come with higher loan amounts and more competitive loan terms. See 'secured vs unsecured loans' for more information.

Secured

Secured

Monthly Fees

What does it mean?

About Monthly Fees

The monthly fee is an ongoing fee charged to cover the administration costs of managing your loan. This fee will be debited monthly and will depend on the amount you borrow plus the term of your loan. Read 'personal loan fees explained' for more information.

$26 p/month

$26 p/month

Repayment Cycle

Weekly, fortnightly or monthly

Weekly, fortnightly or monthly

Establishment Fees

What does it mean?

About Establishment Fees

An establishment fee (or application fee) is the one-off, upfront fee a lender charges for submitting your application. It covers the costs of assessing your application and paying the staff to do so.

This fee is charged as a standard rate based on how much you're applying for. Read 'personal loan fees explained' for more information.

$125 to $1,190

$125 to $1,190

Risk Fee

What does it mean?

About Risk Fee

Also known as a credit fee or risk margin, the risk fee covers the level of risk associated with your loan. Risk fees vary based on a number of factors, primarily your loan amount, credit score, financial history and more.
Read 'personal loan fees explained' for more information.

$0 to $995

$0 to $995

Comparison Rate Warning*

(Personal Loans)

Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.

Comparison Rate Warning* Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. 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.

THE APPLICATION PROCESS

We Make Applying Easy

We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don’t have time to waste on needless paperwork.

That’s why our loan application process has been perfected over time to be as simple and quick as possible.

Frequently Asked Questions

See all FAQs

You do not qualify to apply if your sole source of income is Centrelink benefits.

We require the majority of your income to be paid by an employer. The income must be paid into your bank account on a consistent and regular basis. There may be scenarios where we need to conduct an employment check.

Check if you qualify without impacting your credit score.

Did we answer your question?

Yes No

Your loan repayment will be determined by how much you borrow, how long the term is, and the fees and charges associated with the loan.

Use our loan repayment estimate calculator to get a guide on what your repayments could be.

Did we answer your question?

Yes No

Our customer service team is available during normal business hours. Visit our Contact Us page to see our business hours and the methods of contact for our customer service team.

You can also access our Better Credit app or online customer portal to manage your loan or submit a request to the customer service team.

Did we answer your question?

Yes No

Ready to apply?

Then don’t wait any longer! You can apply online at any time of the day, 24 hours, 7 days a week. With Jacaranda Finance, you will have a pleasant experience, every single time. Our offers are completely transparent, no additional fees or hidden costs will be added at any time.

Trusted by 1,000s

4.9/5

4.8/5

4.7/5

4.9/5

- D. Dianita Miguel - Google Review

It is easy to apply online, fast, reliable and they will try to help you as much as they can. I can recommend it to my friends and relatives. Thank you very much.
- S. Shaan Johari - Google Review

Super easy and fast system, applying was seamless and money was instant!
- K. Kayleb Perkin - Google Review

Fast, reliable service had money in acc same day
- n. naomie falconer - Google Review

Jacaranda is always helpful, wonderful customer service every time. Contact is easy and quick.
- N. Nathan Ross - Google Review

Brilliant service and quick action during application process the best there can be when it comes to quick loans.
- B. Breeanne Pocock - Google Review

Jacaranda finance is definitely one of the smoothest and easiest places to apply for a loan. They make the process comfortable and with no hassle. Would recommend Jacaranda to any one !
- S. Scott Milkauskas - Google Review

I found jacaranda after a few other places wouldn't even look at my application, there process was pretty quick, got a response almost immediately and a good deal! Can't ask for much more, would use again and recommend.
- K. Kevin Kupke - Google Review

Good people to work with. Application was easy and straight forward. Could use different payment options, but still good options. Would use again.
- J. Jim Mccullough - Google Review

Excellent service once again from Jacaranda. Great improvements to the application process, very easy & efficient.
- B. Brendan Lau88 - Google Review

Excellent 5 STAR customer service and always available with a quick response. Very happy with advice and the fantastic service provided. Quick, hassle free and easy. Thank you.
- R. Rebecca Hay - Google Review

Jacaranda finance were amazing they took into account all of my circumstances when other lenders wouldnt. They were easy to contact and keep me up to date at all stages of the easy process.

Need a hand?
Our customer service team are here to help.

If you have any questions, whether you're a new customer or an existing one - our friendly customer service team will be happy to help you.

You can easily get in touch online or via the Better Credit app. Jacaranda's customer service team is available to chat six days a week, and services are available online 24/7.