Personal Loan Income Information

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.

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

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.

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.

In short, we offer easy, same day loans from $2,100 - $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.