Personal Loans FAQs

Once you have completed an application, one of our Lenders will contact you within 1 business day to organise for you to scan or fax us any additional supporting documentation that may be required. 

If your application is approved, your documents will be available for secure signing online and you will be notified when they are ready.
  
If your application is unsuccessful you will be notified by email.

For all online application questions, book an appointment to speak with a lender or call 1300 004 863.

One simple way to get ahead is to pay your loan fortnightly or weekly instead of monthly. This means you will make the equivalent of 13 monthly payments a year instead of 12. For example; on a $30,000 secured loan at 6.95%pa over 5 years, if you made payments of $150 per week instead of $593 per month you would reduce the loan term by 6 months and pay $590 less in interest charges. You can also make additional repayments at any time with no penalty.

Try our loan repayment calculator to test different repayment amounts and estimate your savings:

​When looking for a loan, it's important to consider more than just the interest rate. Before you take out a loan make sure you know the answer to these questions:

• Is there an application fee – and how much is it?
• Are there any other set up fees or dealership fees for arranging finance?
• Will I be penalised if I pay out the loan early?
• Are there any ongoing fees, such as monthly account keeping fees or payment fees on the loan
• Is the interest rate fixed or variable?
• How does the interest rate compare with other institutions?
• Can I make additional repayments without penalty?

Secured personal loans generally have lower interest rates and require you to use an asset to secure the loan.

This means that if for some reason you can’t make the repayments on your loan, you may have to give up the asset to help cover the outstanding balance on the loan. For example, if you take out a loan to purchase a car, you might use this car as security for the loan. You may also be able to use a motorbike, boat, caravan or money held in a Hume term investment as security for your loan.

Unsecured loans don’t require assets as security, but they usually have higher interest rates and stricter requirements in order to qualify.