Are you in Australia and are you looking for a personal loan? Loans in Australia are easy to apply. Many financial companies are willing to lend you any purpose. And one of the best financial companies in Australia that we want to introduce to you is Aussie with attractive interest rates on Aussie personal loans.
As you know, each financial company offers a wide variety of personal loans and each is suitable for each customer. To be able to choose a suitable personal loan, customers need to consider the interest rate, loan term as well as the maximum and minimum loan amount. Today’s article, Loansaustralia.net will provide the most detailed information about Aussie personal loans.
AUSSIE PERSONAL LOANS
Just like a lot of article posts about the personal loans in Australia as well as each type of loans such as personal loans for bad credit, loan interest rate in Australia, Cash Converters Personal Loans… this post about the Aussie Personal Loans also includes some main parts. They are:
1. Some requirements to apply for Aussie personal loans
To be approved to apply for Aussie personal loans, you must:
- Aged 18 years and older
- Have a permanent residence in Australia
- Working in a consistent job pays over $ 24,000.
- There has been a credit history in the past five years
The following are available to complete your application:
- Your driver’s license or proof of residence
- Details of your financial situation include income, assets, costs, and liabilities
- Proof of employment includes details about your employer and tax return
It will take about 15 minutes to complete the online form. You do not need to be an existing customer of Aussie to register.
2. The interest rate and fees of Aussie personal loans
- Fixed interest rate. An Aussie personal loan has a fixed rate from 12.99% p.a. for a loan life cycle (comparison ratio 13.94% p.a.).
- Fees and charges. There are a $ 199 setup fee and a continuous management fee of $ 10 per month. If you choose to pay your loan early, there is also an early termination fee.
- Terms of loans. Choose a loan term between 1 year and 7 years. Loan amount up to $ 30,000.
- The minimum loan amount to qualify for the advertised fixed interest rate is $ 3,000.
- Payment options. Standard repayments are monthly but you can choose to make them weekly or biweekly to suit your budget preferences.
For example, if you receive a $ 10,000 loan with:
- A 3-year term
- APR of 12.99%
- Establishment fee: $199
- An ongoing administration fee of $10 per month
- There will be a mandatory monthly payment of $ 329.38.
- During the life of the loan, your payments will total $ 11,858.
3. Some types of Aussie personal loans for you choose
3.1. Secured Loans
A secured loan is a great option if you are borrowing money for a large purchase, such as a new car or boat. Safety guarantee means that the purchase made (eg a new car) is secured for the loan. This means that you cannot make repayments, the car is returned and sold, and the profit of the sale is then used to pay off the loan. Secured loans often have lower interest rates because there is less risk for lenders.
3.2. Unsecured Loans
A loan with no guarantee or unsecured loan is a loan made without any property secured against it. Unsecured loans often have higher interest rates than secured personal loans, because, no assets are guaranteed compared to the amount borrowed, they are more risky to the lenders.
3.3. Variable Loans
A variable personal loan means that the interest rate for the loan is not fixed and may fluctuate when the lender sees fit. This could be both a benefit if interest rates fall, however, if interest rates rise, you may be able to pay more for your loan than the first prediction makes budgeting, even debt and daily life are much more difficult.
3.4. Fixed Loans
A fixed-rate loan is a fixed-rate personal loan for the life of the loan. The benefit of this type of loan is knowing that regardless of interest rates, your interest rates and therefore, your repayments will remain the same for the entire term of the loan. This gives you a sense of security and also makes budgeting much easier. The downside of a fixed rate loan is that if interest rates fall, you will continue to pay higher fixed interest rates.
This post is about Aussie personal loans. We provide this information to offer you some of the necessary information that is useful for getting Aussie personal loans. Also if you are looking for information about the personal loans from Cash Converters, please refer to the Cash Converters Personal Loans link we just provided in the previous article.