Personal loans let you borrow a specific amount of money and repay the debt with interest in equal payments over an agreed term. Personal loans tend to be cheaper on average than, say, credit cards, which are seen as a typical alternative.
If you’re looking to borrow money for a home renovation or new car, Mozo’s expert personal loan comparisons can help. There are more than 70 lenders in our database, making it easier for you to find the right loan for your needs. Start comparing below.
Fixed
Borrow up to $50,000 unsecured from the only lender with no fees and none of the bank. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Winner of Mozo’s Experts Choice Unsecured Personal Loan 2021 award.
Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 5.95% would cost $34,757.21 including fees.
Read our Mozo Review to learn more about the NOW Finance No Fee Unsecured Personal Loan
Unsecured, Fixed
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 4.99% would cost $33,959.97 including fees.
Excellent credit score needed to obtain this rate. Enjoy no-fuss personal loans of up to $30,000 with Alex Bank. No hidden early repayment penalties. Terms from 6 months to 5 years. Convenient, 100% online approval. Must be over 18 to be eligible (other eligibility criteria may apply). Winner of Mozo's Experts Choice Best New Loan Product award 2021^.
Read our Mozo Review to learn more about the Alex Bank Personal Loan
Unsecured, Fixed, Excellent Credit
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 6.39% would cost $35,126.40 including fees.
With low rates for borrowers with excellent credit, a quick 1 minute rate estimate and simple online application, there’s a lot to love about this loan! You’ll not only benefit from no exit fees, there are also no early repayment fees. You could qualify by simply earning above $25,000 and you’ll be on the way to start spending (other eligibility criteria may apply).
Read our Mozo Review to learn more about the Plenti Personal Loan
Excellent Credit
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.45% would cost $34,590.57 including fees.
OurMoneyMarket offer competitive low rates for borrowers with excellent credit on loans up to $75,000, plus free extra repayments and fee-free redraw facility. Winner of Mozo's Experts Choice Unsecured Personal Loan 2021 award^.
Read our Mozo Review to learn more about the OurMoneyMarket Low Rate Personal Loan
Fixed
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 5.35% would cost $34,832.61 including fees.
Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).
Read our Mozo Review to learn more about the Harmoney Unsecured Personal Loan
Excellent Credit, Fixed
Terms from 2 to 5 years. Representative example: a 3 year $10,000 loan at 5.95% would cost $10,943.74 including fees.
Be rewarded for your good credit history with low rates. No ongoing fees. Pay off your loan with no early repayment penalties. Apply online and get a quote in minutes
Read our Mozo Review to learn more about the SocietyOne Unsecured Personal Loan
Variable, Unsecured
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,190.18 including fees.
Get a personalised rate quote in just 2 minutes, apply in just 7 minutes. Lower rates for better credit. Money transferred to your account in 24 hours. No exit or early repayment fees. Borrow up to $50,000.
Read our Mozo Review to learn more about the Symple Loans Personal Loan
Good Credit
Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 6.25% would cost $36,103.67 including fees.
Consolidate your credit cards and other loans into one low monthly repayment with OneDebt. Low rates with approvals typically within 60 minutes. Flexible repayments with no early exit fees. Must be employed with decent credit history.
Read our Mozo Review to learn more about the MoneyMe OneDebt Low Rate Personal Loan
Fixed
Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 5.95% would cost $34,757.21 including fees.
Borrow up to $50,000 unsecured from the only lender with no fees and none of the bank. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Winner of Mozo’s Experts Choice Unsecured Personal Loan 2021 award.^
Read our Mozo Review to learn more about the NOW Finance No Fee Unsecured Personal Loan
Fixed, Unsecured
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,383.67 including fees.
Borrow from $5,000 to $55,000 with a 1 - 7 year flexible loan term with NAB. Get competitive low rates for excellent credit. Enjoy no fees for extra repayments and no early exit fees. NAB accepts documents online so you can get your funds fast.
Read our Mozo Review to learn more about the NAB Personal Loan
Fixed, Unsecured
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 7.99% would cost $37,518.90 including fees.
Special Offer: Enjoy no interest and no repayments for the first 3 months with a Better Start Personal Loan. Available for new personal loan customers, borrowing $20K+ to consolidate their debts. Offer ends 8 December 2021 (T&C’s apply). Stay in control with a Fixed, Unsecured rate for the life of the loan.
Read our Mozo Review to learn more about the Latitude Personal Loan
Unsecured, Variable, Excellent Credit
Terms from 1 to 3 years. Representative example: a 3 year $10,000 loan at 6.39% would cost $11,015.63 including fees.
With low rates for borrowers with excellent credit, a quick 1 minute rate estimate and simple online application, there’s a lot to love about this loan! You’ll not only benefit from no exit fees, there are also no early repayment fees. You must be over 18 to qualify and earn above $25,000 (other eligibility criteria may apply).
Read our Mozo Review to learn more about the Plenti Personal Loan
Fixed, Unsecured
Terms from 1 to 7 years. Representative example: a n/a year $0 loan at 7.99% would cost $6,988.90 including fees.
Heritage Bank discounted rates for borrowers with excellent credit. Available loans starting from $5,000 to $25,000. Your choice of loan terms up to five years. Extra repayments allowed, but may incur fees.
Read our Mozo Review to learn more about the Heritage Bank Standard Personal Loan
Very Good Credit
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 8.49% would cost $37,171.08 including fees.
Competitive low rates on loans up to $75,000 for excellent credit. Free extra repayments. Fee-free redraw facility. Winner of Mozo's Experts Choice Unsecured Personal Loan 2021 award^.
Read our Mozo Review to learn more about the OurMoneyMarket Low Rate Personal Loan
Fixed
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 9.39% would cost $37,881.66 including fees.
Borrow from $5,000 to $50,000 with low rates for great credit. No account keeping fees. Free extra repayments and redraw facility. Same day approval may be possible. Winner of Mozo's Experts Choice Award for Australia's Best Large Credit Union 2021^.
Read our Mozo Review to learn more about the Great Southern Bank Unsecured Personal Loan
^See information about the Mozo Experts Choice Personal loans Awards
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As we begin to reach the tail-end of the year, it’s now time to dive into our October 2021 personal loans market update.
Last month we saw fewer personal loan interest rate and offer changes take place in comparison to the previous months. Of the few changes that occurred, most of which were rate cuts and a $250 application fee reinstatement from the Commonwealth Bank on its Secured Personal Loan.
We’ve also seen Bankwest launch a long term heavily discounted rate on its unsecured personal loan option, of 8.99% p.a. (9.33% p.a. comparison rate*) available to eligible customers until 30 June 2022.
More broadly, over the past few months, there’s been a developing trend around the introduction of risk-based pricing among lenders - such as ING who adopted the model on its single loan option.
In other news, the most recent ABS Lending Indicators release revealed a 2.5% drop in fixed-term personal loan commitments (seasonally adjusted) in August 2021. A change in pace from July which saw a massive 14.2% increase in new fixed-term personal loans when compared to the month prior.
The release also reported a 6.4% decrease in new loan commitments for road vehicles, as well as a hefty 16.7% rise in the value of new loan commitments for personal investment.
This month we see that the lenders with the lowest personal loan interest rates in the Mozo database are:
Once again, proving that smaller banks and credit unions are where to go for a more competitive rate.
While there have been several shifts in major bank personal loan interest rates over the past few months, be aware that big bank rates tend to sit much higher than most competitor lenders.
For example, at present, the Commonwealth Bank’s Unsecured Variable Personal Loan interest rate sits just under 12% - quite a significant jump when compared to the lowest interest rate in the Mozo database of 3.99% p.a.
Right now, the lowest big bank variable rate personal loan interest rate in the Mozo database is the NAB Personal Loan (Variable, Unsecured), at 6.99% p.a. (7.91% p.a. comparison rate*).
As for the highest big bank variable rate personal loan in the Mozo database, that would be the Commonwealth Bank Unsecured Variable Personal Loan at 11.50% p.a. (12.38% p.a. comparison rate*).
In terms of fixed-rate personal loans, the lowest big bank fixed rate in the Mozo database belongs to NAB with its Personal Loan (Fixed, Unsecured), which offers a 3-year fixed rate of 6.99% p.a. (7.91% p.a. comparison rate*).
The highest fixed-rate big bank personal loan in the Mozo database, on the other hand, is the Commonwealth Bank’s Unsecured Personal Loan (Fixed), which has a 3-year fixed rate of 11.50% p.a. (12.38% p.a. comparison rate*).
Lowest variable rate unsecured personal loan: A tie between Community First Credit Union - Green Loan (up to 10 years, Variable, Unsecured) - 3.99% p.a. (4.99% p.a. comparison rate*) and Community First Credit Union - Home Improvement Loan (up to 10 years, Variable, Unsecured) - 3.99% p.a. (4.99% p.a. comparison rate*)
Lowest fixed rate unsecured personal loan: Alex Bank - Personal Loan (Unsecured, Fixed) - 4.99% p.a. (4.99% p.a. comparison rate*)
Lowest variable rate secured personal loan: Transport Mutual Credit Union - GreenRoad Hybrid & Electric Cars (Variable) - 4.74% p.a. (5.04% p.a. comparison rate*)
Lowest fixed rate secured personal loan: Credit Union SA - Online-only Special Fixed Rate Personal Loan (Secured) - 4.25% p.a. (4.73% p.a. comparison rate*)
Read the full personal loans October market update here.
Written by: Rhianna Dews, Personal Loans writer, 1 October 2021.
Finding the right personal loan for your needs is what we at Mozo are here to help you with. This handy guide will run you through all the factors to consider when looking for a competitive personal loan in Australia. Starting from the top...
A personal loan allows you to borrow a lump sum of money and then repay that amount (plus interest on top) in instalments over a set period of time. Often, you’ll make monthly repayments over a period of 1 - 5 years.
A personal loan is generally for a lower amount than a home loan and is useful for lump sums between $2,000 and $100,000, which are too big to put on a credit card.
It’s also useful because as long as you meet your monthly repayments, you’ll know how long you’ll have debt and approximately how much interest you’ll pay from the beginning.
In Australia, personal loans can be used to help fund all sorts of things. However, they're most commonly used for bigger expenses like holidays, home renovations or buying a new car.
They can also be used to consolidate debt or to pay for unexpected expenses like medical bills.
What you need the loan for might make a difference to what kind of loan you go for. For example, if you're after a personal loan for:
There are many things to keep in mind when comparing personal loans, from the interest rate to fees to features and special offers. But to narrow it down, here are three of the main things to consider when comparing personal loans:
That’s the beginning of comparing personal loans, but keep in mind there's a range of other factors to consider, like loan terms and amounts.
Good question. Here are 3 easy steps you can take to help determine how much you should borrow:
While a lender may approve you for a large loan amount, that doesn't mean you should automatically take out that entire sum.
Use Mozo's budget calculator to help get a clearer picture of your current financial situation and determine how much money you have to play with after all your expenses (home loan repayments/rent, utility bills, insurance etc.) are taken out.
For example:
Say you have a disposable income of $1,000. You'd then need to think about how much of that amount you're willing to part with to pay off your loan. Because if you take out a loan with a $900 monthly repayment, you might wind up having to live off tinned tuna for the life of the loan - and who wants to live like that?
Once you've decided on a loan amount you're comfortable with, have a play around with our personal loan repayments calculator to see what kind of borrowing scenario would work for you.
If you find that the amount you're looking at borrowing will make your ongoing repayments far too steep, you might want to consider borrowing a smaller amount or opting for a longer-term.
For example:
Say you borrowed $20,000 with a 10% interest rate. Using our personal loan repayments calculator, we found that your monthly repayments would be:
Keep in mind that while the longer-term option might help take the financial pressure off each month, the downside is that you'd wind up paying $3,346 more in interest over the life of the loan.
Once you've figured out how much you can afford to borrow, it's time to compare personal loans until you find one with a competitive interest rate and the right features to suit your individual needs.
Read on for our breakdown of the different types of personal loans in the market.
While there are many different types of personal loans available in Australia (car loans, travel/holiday loans and renovation loans), they all more or less work the same way...
You borrow a lump sum from a lender and pay it back over an agreed timeframe (plus interest/fees).
That being said, here are some of the different types of personal loans you'll have to choose from depending on your individual needs:
With a secured loan, you'll need to put up your car, house or other expensive (eligible) asset as security against the loan. Why? For lower interest rates and fees, of course! Be aware that the provider has the right to seize your assets if you were to default on the loan.
On the other hand, if you'd rather not risk losing your car or home, or just don't have any assets to secure your loan with, you could opt for an unsecured loan. But while unsecured loans don't require you to guarantee the loan with any assets, the tradeoff is often higher rates and fees.
Another way you can use personal loans is to help ditch debt. A debt consolidation loan lets you combine multiple debts (from multiple loans or credit cards) into one loan. This way, you'll have just one regular repayment and interest rate to worry about for the lot instead of one for each debt.
Once you've chosen a personal loan type to suit your borrowing needs, you'll need to think about the type of interest rate and features you want:
Choosing the right interest rate type to suit your individual needs and financial situation is vital when taking out a personal loan. Here are the two main options:
With a fixed rate loan, your interest rate stays the same for the life of your loan, making it easier to budget. An attractive option if you're worried about a rate hike down the track that you mightn't be able to afford.
Of course, there are a few cons, such as generally higher rates and fees, as well as less flexible features like extra repayments and redraw facility (see below for a full explanation). Plus, fixed rate loans often come with break cost fees if you decide to pay your loan off early.
On the other hand, with a variable rate loan, your interest rate could change at any time, putting you at risk if your provider decides to hike up their personal loan variable rates. However, the benefit of a variable rate loan is that they often come with lower rates and fees and more flexible features.
The features that come with your personal loan are super important and shouldn't be overlooked. Here are some of the different features you might come across when comparing personal loans:
You never know where you'll be down the track financially. So it's good to have a personal loan with an extra repayments facility so you have the ability to make extra loan repayments when you can to help you pay your loan off earlier.
By the same token, you never know when you'll be hit up with unexpected bills, so another handy feature to have is a redraw facility, which allows you to dip into any extra loan repayments you've made. Although this defeats the purpose of making those extra repayments in the first place - so it's best to leave this for emergencies.
The beauty of having flexible repayment options is that you're able to tailor them to your regular pay schedule. So say if your employer pays you fortnightly, you might opt for fortnightly loan repayments to match.
Hack: One benefit to going with fortnightly repayments is that you'll wind up paying more off the loan within a year as opposed to with monthly repayments.
For example, if your monthly repayments are $1,000, you'd pay off $12,000 in one year, whereas if your fortnightly repayments are $500, you'd pay off $13,000, as there are 26 fortnights in the year.
So, by going with fortnightly repayments you'd shave off an extra $1,000 for each year of the life of the loan, helping to speed up the process of paying off your loan.
Now that you're in the know about the types of personal loans out there and the different features to look for, you're probably wondering how you can land yourself a great deal. Follow these quick steps...
Step 1: Compare personal loans
Step 2: Make your shortlist
Once you've punched in your numbers, our personal loans calculators will bring up a list of loans that might suit what you're looking for based on your search query.
You can then shortlist your favourites by clicking on the button on the left-hand corner of the product info.
Struggling to pick between two loans? Use our personal loan comparison calculator to compare them side by side.
Step 3: Start your personal loan application
Once you're picked the loan you're happy with (and eligible for) and are happy to apply, you can click the blue 'go to site' button next to the loan to be taken to the provider's website, where you can submit an online application.
If you're keen to start comparing personal loans, then scroll up to the comparison tool at the top of this page. Alternatively, if you want to know more about personal loans, head over to our personal loan guides hub.
The right personal loan for you will depend on your own individual needs. The personal loan comparison table at the top of this page is a good place to start your search. Otherwise, you can click here to search through the whole Mozo personal loan database.
A personal loan allows you to borrow a lump sum of money and then repay that amount (plus interest on top) in instalments over a set period of time. Personal loans tend to be cheaper on average than, say, credit cards, which are seen as a typical alternative.
A personal loan can be useful for lump sums between $2,000 and $100,000, which are too big to put on a credit card. It’s also useful because as long as you meet your monthly repayments, you’ll know how long you’ll have debt and approximately how much interest you’ll pay from the beginning.
In Australia, personal loans can be used for pretty much whatever you need, though they are commonly used to fund an expensive item like a holiday, home renovation or new car. Personal loans can also be used to consolidate debt and to pay for unexpected expenses like medical bills.
Typical loan sums are between $2,000 and $100,000. While a lender may approve you for a considerable loan amount, that doesn't mean you should automatically take out that entire sum. Use Mozo's budget calculator to get a clear picture of your financial situation and determine how much money you have to play with after all your expenses.
As of March 2021, Australian Military Bank, Credit Union SA and Transport Mutual Credit Union offer the lowest personal loan interest rates in the Mozo database (Please note: these go across different loan categories and aren't all the same). Smaller mutual banks and credit unions are still where it’s at if you’re after a more competitive rate.
Check out our comparison page to see how big banks stack up against small lenders and find a loan that might suit your needs.
According to Mozo's analysis of the personal loan market for the 2021 Mozo Experts Choice Awards, there are several loans of note. Some award-winners offering the best value in 2021 include Australian Military Bank, Alex, Endeavour Mutual Bank, ING and Hume Bank.
To learn more, you can read product reviews of Australia's Best Personal Loans or view the full list of Mozo Experts Choice Personal Loan Award winners.
This will depend on the type of loan you apply for. If you apply for a secured personal loan, you'll have to provide an asset, like a car, to use as security against the loan. Although this does give your lender the right to repossess your asset if you default on the loan, the good news is secured personal loans typically come with lower rates.
On the other hand, if you opt for an unsecured personal loan, you won’t have to provide any security. However, unsecured personal loans usually come with higher interest rates.
In our personal loan table at the top of this page, the comparison rate sits to the right of the interest rate and is a quick way of comparing the cost of the personal loan once both the interest rate and fees are combined. The comparison rate is often coined as showing the 'true' cost of a loan.
There’s no easy answer to this question, as it will depend on your financial circumstance and what you’re looking for. So to help you make a decision, we’ve jotted some pros and cons for different types of lenders.
This includes the big four banks, Westpac, ANZ, NAB and CommBank, plus other major lenders like St George, Bankwest, HSBC and ING.
An alternative to the big banks are smaller credit unions. These are not for profit organisations that are funded by their members.
A newer type of lender shaking up the market is peer-to-peer (P2P) lenders. P2P operates on a different platform to traditional banking in which it connects investors with potential borrowers in an online marketplace.
One misconception about personal loans is that applications can take a while to process. In reality, finding a fast personal loan is possible, and some lenders can have the funds in your bank account on the same day or within 2 business days.
While many lenders will offer different repayment schedules, personal loan repayments can typically be made on either a weekly, fortnightly or monthly basis. One easy way to make your repayments is to set up a direct debit from your bank account. This will also help ensure you won't ever miss a repayment or be charged a late payment fee.
But if for any reason you can't make a repayment, you’ll need to contact your lender ASAP to discuss an alternative arrangement.
If you are looking at borrowing a small amount, say under $5,000 and are tossing up between plastic or a loan, here are some things to consider:
Personal Loans:
Credit Cards:
Personal loans are designed to help fund bigger purchases that make more sense to pay off over time rather than having to wait until you have the money saved to pay for it upfront. This is why personal loans could be a good finance option for Aussies who are buying a new car, doing some home renovations, planning a wedding or other big one-off expenses.
Lenders generally don't have many restrictions on what you can use a personal loan for, though you'll usually be asked about the purpose of the loan when you apply.
Car loans: For some purchases, there are lenders that will actually give you a better interest rate than a regular personal loan. For instance, if you are planning on buying a new car, you'll find that many lenders will have sharper rates for new car purchases when you secure the car against the loan.
Green loans: Another loan purpose that's getting more popular with lenders in Australia is eco-home improvements such as rainwater tanks, solar panels, insulation. Lenders view borrowing in these areas as smart investments and reward customers with lower interest rates.
Check out the Mozo Experts Choice Personal Awards page to see which Aussie lenders have received our expert's tick of approval.
While you still might be able to get a personal loan with bad credit, it’s not always the best idea as you’ll often be charged super high rates and fees. Thanks to the rollout of comprehensive credit reporting (CCR), many lenders have already begun assessing a borrower’s credibility based on their credit history.
In this case, it could be worth repairing your credit history first before applying for a loan.
Yes, some providers offer personal loans to students, but you’ll find there is a slight difference in terms of eligibility. With a student personal loan, there’s a little more flexibility with the loan application since students generally have lower incomes and little to no assets, compared to a borrower working full time and no longer studying.
But although approval for student personal loans does come with some breathing room, lenders tend to be a little stricter in terms of repayments and may only offer smaller loan amounts to help make sure you can comfortably pay back your debts.
Yes, pensioners can take out a personal loan, but it can be tricky to get approved. If you're a pensioner looking to take out a personal loan, you’ll find that there are limited options. This is because it’s harder to prove to a lender that you can make your repayments if you no longer have a regular income.
However, if you’ve got some extra cash stashed away in an account that can be put towards your repayments, you might be in a better position to negotiate with a lender and have better chances of success.
Australia is in the process of moving towards a comprehensive reporting system that enables lenders and other businesses to see your whole credit history when making a judgement on whether to lend you money. In the past, banks were only ever interested if you had missed a repayment or defaulted on a loan.
Now they are able to get a sense of your whole financial picture, such as when you make your bill repayments, whether you pay the whole bill or only part of it, how much of your credit limit you have available etc. The positive to this is that it rewards people who can demonstrate good savings and financial behaviour. Lenders can see that you will be able to pay back any money borrowed in the timeframe that you said you would.
So now, when it comes time to think about getting a personal loan, you really need to be much more prepared in the lead up by making sure your bills are kept up to date, you're demonstrating good savings habits, and comfortably meeting other financial commitments.
Before you apply for a loan, it's a good idea to get a copy of your credit report so that you can check it for any errors or know the areas that you might want to improve before you ask the bank for a loan.
There's no way of guaranteeing that you'll be approved for any loan. All you can do is make sure that you've got the highest chance possible - this means:
With most lenders now offering online loan applications, applying can be pretty straightforward. In some instances, (once approved) you can even get the funds directly deposited into your account within a few days of the loan application.
To make your personal loan application go as smoothly as possible, it's a good idea to have some of the essential information handy and that you'll meet any eligibility requirements.
If you're applying for a loan with a provider that you don't already have any personal history with, it's likely that you'll need to supply them with personal information and identification details. Examples of this kind of information are:
Other information you are likely to need includes:
If you come to find that you've been rejected for a personal loan, it's best not to immediately apply for another. Each time you’re rejected for a loan, it goes on your credit history, potentially making it even harder to get approved next time.
The first thing you’ll need to do is assess why you’ve been rejected. Some of the more common reasons for being rejected include having a:
These are all things that might impact your ability to repay your loan in the future.
Your next step should be to make adjustments to your application to ensure that you aren’t rejected again. This could mean cleaning up your credit history, reassessing your budget and borrowing capacity to make sure you can afford the loan or trying to add a little more to your savings stash.
The thing to remember about any kind of personal credit is that you'll eventually have to pay the money back. Here are some tips to help you avoid some of the biggest borrowing traps:
Do not use this bank, applied for a personal loan, they advertise simple and easy, what a joke, supplied documentation to them, looks like I was dealing with idiots overseas as most of my correspondence was online due to work commitments. Instead of looking over the application and telling me what they wanted me to supply first go instead of coming back in drubs and drabs asking for information, I supply it and they tell me they didn’t receive it, but I have proof it went through but anyway. Not reading emails properly or even knowing what they are asking for when it’s right in front of them. At one point some one in their assessing team sent an email and said application was not successful. Next day I get an email from them saying we need more information??? I said you knocked the application back and the guys says oh no we haven’t finished processing it?? I then emailed them what they said and they apologised for confusion, but still going back and forth. Not well trained staff, either I ended up pulling the application and went to another bank and got the loan in 24 hours. Do not waste your time and energy!
Read full reviewDo not use this bank, applied for a personal loan, they advertise simple and easy, what a joke, supplied documentation to them, looks like I was dealing with idiots overseas as most of my correspondence was online due to work commitments. Instead of looking over the application and telling me what they wanted me to supply first go instead of coming back in drubs and drabs asking for information, I supply it and they tell me they didn’t receive it, but I have proof it went through but anyway. Not reading emails properly or even knowing what they are asking for when it’s right in front of them. At one point some one in their assessing team sent an email and said application was not successful. Next day I get an email from them saying we need more information??? I said you knocked the application back and the guys says oh no we haven’t finished processing it?? I then emailed them what they said and they apologised for confusion, but still going back and forth. Not well trained staff, either I ended up pulling the application and went to another bank and got the loan in 24 hours. Do not waste your time and energy!
Corporate robots, don't lend to singles the two percent deposit scheme is rubbish, I tick all boxes and can afford the loan but cannot get because of unrealistic lending criteria. All banks.
Read full reviewCorporate robots, don't lend to singles the two percent deposit scheme is rubbish, I tick all boxes and can afford the loan but cannot get because of unrealistic lending criteria. All banks.
Don’t believe the TV commercials, Jackson was dismissive and short. Pretty ordinary all over.
Read full reviewDon’t believe the TV commercials, Jackson was dismissive and short. Pretty ordinary all over.
