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$300 $10000
$2000
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Loans from $2100 to $10,000 require a car, motorbike, boat or caravan to be provided as security. If you cannot provide security, please apply for $2000 or less.

Loans from $2100 to $10,000 require a car, motorbike, boat or caravan to be provided as security. If you cannot provide security, please apply for $2000 or less.

The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. 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. Click here to see a worked example.

The Interest Rate for Secured Medium Loans is 48%. Maximum Comparison Rate is 67.41% p.a. 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. Click here to see a worked example.

The Interest Rate for Secured Large Amount Loans is 21.24%. Maximum Comparison Rate is 48% p.a. 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. Click here to see a worked example.

Can a secured personal loan get you a better rate or loan?

Looking For A Secured Personal Loan? Jacaranda Finance Can Help!

If you’ve done a bit of searching online about finance options, you might have heard about a secured personal loan. However, what exactly does it entail?

For many people, borrowing money happens at some stage in life. Therefore, there are as many types of loans as there are reasons for taking them out, giving us all a variety of options to choose from. A secured personal loan is just one type.

secured personal loan

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What is a secured personal loan?

A secured loan is a loan that requires an asset to be tied to the loan as security for the lender. This is to protect the lender in the event that you are unable to repay the loan. In other words, if you default on your loan or can’t pay it back, the asset can be seized and sold to make up for the lost money. However, that’s the worst case scenario. In our experience, our clients take out a secured personal loan because they’re looking to borrow a larger amount. This could be in the form of a medium loan, from $2,000 to $4,600, or a large loan of $5,000 to $10,000. So, if you’re looking to consolidate your debt against security, this could help you out. This way you have a single loan with one manageable repayment.

If you’re applying for a secured personal loan with Jacaranda Finance, you will have to provide a vehicle as security. This could be a caravan, motorbike, car or boat.

At Jacaranda Finance, we would consider a car, motorbike, caravan or boat as security that could be tied to your loan.

So, even though you might not have realised it, you’ve probably come across secured loans before. Take a look at these.

Some types of secured loans:

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When can I apply for a secured personal loan?

Well, if you’re after a secured personal loan, look no further than Jacaranda Finance. Head to our homepage or scroll up a bit and fill in our quick and easy online application form. It could take you just a few minutes!

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How do I apply for a secured personal loan?

To apply for a secured personal loan, all you need to do is fill out our simple application form. It will ask you for relevant details that will allow us to assess your application, including your purpose for the loan.

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What are the eligibility requirements for a secured personal loan?

In order to be eligible to apply for a secured personal loan with Jacaranda Finance, there are few basic requirements that you’ll need to meet.

You must:

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What information do I need to provide when I apply for a secured personal loan?

To apply for a secured personal loan, you’ll need to have your contact details handy, as well as your internet banking details. In addition, we’ll also ask you to provide us with 100 points of ID.

If you receive government benefits, make sure you have those details handy.

Then, once you’ve submitted your application, make sure you keep an eye on your mobile phone for us to get in touch with you.

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How much can I borrow with a secured personal loan?

With a secured personal loan, you can borrow between $300 and $10,000 with Jacaranda Finance. However, if you’re looking for an amount of $2000 or less, an unsecured personal loan, we may be able to help you too.

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How long do I have to repay my secured personal loan?

A secured personal loan with Jacaranda Finance can carry a repayment term of 13 to 24 months.

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How much does a secured personal loan cost?

Well, we offer two different types of secured personal loans: Medium and Large loans. Here’s what they look like.

Medium secured personal loan

Large secured personal loan

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So, how do I repay my secured personal loan?

Repayments on a secured personal loan work by setting up a direct debit with us. Therefore, your payments can be made automatically without you having to worry about doing them all yourself.

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What do people apply for secured personal loans?

Secured personal loans can be used for a variety of different purposes. So, here are some examples of reasons people choose secured personal loans:

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Can I apply for a secured personal loan if I have bad credit?

You can apply for secured loans if you have bad credit. However, even though we do conduct credit checks, we assess people on a case by case basis. Therefore, even if your credit rating is less than perfect, you may still be able to get a secured personal loan with Jacaranda Finance. That’s because we understand your credit rating may not be a true reflection of your actual relationship with money and credit. We prefer to look at your current financial situation. Therefore, we use the latest in safe banking technology to look at a read-only copy of your most recent financial transactions to see if you can safely manage the financial obligation of a loan.

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What’s the difference between a secured personal loan and an unsecured personal loan?

While secured and unsecured loans are both types of personal loans, there are a few factors that differentiate them from one another.

With secured loans you can usually borrow larger amounts since the lender is protected by security.

Unsecured personal loans typically charge higher fees since they are riskier for the lenders.

If you default on your payments on the secured loan, the lender is legally liable to repossess your asset presented as security.

If you default on an unsecured loan the lender could pass you onto a debt collector.

Secured Personal Loan Terminology

Broader Lending Terms

Apply for an unsecured personal loan with Jacaranda Finance today!

In summary, secured loans are simple to apply for and you can get them right here online with us. So, if you needed to make a much-needed purchase, a secured personal loan might be exactly what you need to make that happen. Apply now!

Example of how our small personal loans work

Loan amount

$300 minimum
$2,000 maximum

Costs

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

Terms

12
months

Example:

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.

Example of how our medium secured personal loans work

Loan amount

$2,100 minimum
$4,600 maximum

Costs

Annual Percentage Rate (APR) is 48% Comparison rate is 67.41% 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.

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

Terms

13
months minumum
24
months maximum

Example:

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.

For more information about the allowable fees and charges for SACCs & MACCs visit the MoneySmart website.

Example of how our large personal loans work

Loan amount

$5,000 minimum
$10,000 maximum

Costs

ANNUAL PERCENTAGE RATE (APR) IS 21.24% Comparison Rate is 48% P.A.

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

Terms

13
months minumum
24
months maximum

Example:

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.

What our clients say

Looking For A Secured Personal Loan? Jacaranda Finance Can Help! Overall rating: 4.7 out of 5 based on 148 reviews.

Great easy application

★★★★★
5 5 1
Very fast easy to apply thank you so much