Got unpaid debt? Whether it’s a personal loan, credit card or even a home loan, chances are you’d prefer to see your debt out of your life than in it. So the question is: is it always a good idea to prioritise your debt instead of focusing on growing your savings stash? Or can both be done in tandem? We’ve asked the question of Mozo’s banking expert, Peter Marshall as well as Sebastian Paulin, Plenti’s head of direct lending, and Joanne Edwards, Wisr’s chief risk and data officer. And boy we got the answers!
Ever heard of risk-based pricing or personalised interest rates? Well, if you’re on the hunt for a personal loan it may be something to get familiar with.
Today, Melbourne-based online personal loan lender Symple announced its partnership with rewards point giant Qantas Frequent Flyer. The new move means that from now Symple customers can earn Qantas Points when they are approved for a personal loan. With a cap of 50,000 Qantas Points, new customers are able to earn 1 Qantas Point per $1 borrowed. This partnership is the first of its kind in Australia, between Qantas and a fintech personal loan lender. “At Symple, we are continuously looking for new and innovative ways to reinvent the personal lending experience and to offer Australians a better, faster, and more rewarding lending experience,” Symple co-founder and chief executive officer, Bob Belan said. “In addition to our market-leading interest rates and easy digital application process, our partnership with Qantas allows us to further differentiate Symple’s proposition and offer even more value to our customer base. We are very pleased to be partnering with Qantas — clearly a premium brand and category leader – and we are excited to be working with them closely going forward.”And according to Qantas, this partnership with Symple Loans gives members a fresh way to earn Qantas Points. “We’re always evolving and innovating to help our 13 million members earn even more points towards their next dream trip, whether it’s on their groceries, buying petrol, paying bills or now, accessing personal loan services,” Qantas Loyalty chief executive officer, Olivia Wirth said.So if you’re in the market for a top notch personal loan and want the bonus of earning Qantas Points for your stash, check out the Symple personal loan below …
As we enter the month of May, not only do we begin to creep closer to the end of the financial year, but we’ve also started to see a number of significant rate changes in the personal loans sphere, which we’ll touch on more below.
For many the barrier to installing solar panels is price - pure and simple. Of course the irony is that if you can afford the initial outlay, having solar panels is actually a money saver.
Whether you’re treating yourself to a well-deserved holiday or are looking to give your kitchen a bit of an upgrade, taking out a personal loan can help you do it.
Chances are we’ve all picked up a new hobby during the pandemic, whether it’s sewing or baking. For a big portion of Australians though, their newest obsession is with home improvement projects. New research from retailer Amart Furniture found over a third of Aussies used the extra time spent indoors to update and restyle their homes. But rather than knocking down parts of the living room or bedroom for large-scale renovations, 58% of respondents said they opted to buy new furniture instead. In fact, furniture sales have been steadily increasing since the start of COVID-19. Couches (30%), chairs (28%), coffee tables (28%), desks (27%), and mattresses (24%) top the list as the five most popular items Australians purchased over this period, according to Amart Furniture. “So many of us can relate to making changes to the way we live in our homes at the moment, whether that’s creating a new office space from scratch or turning our living rooms into makeshift restaurants, cinemas and gyms,” Amart Furniture’s general manager of buying, Steve Norman said.
The idea of borrowing money on credit has been around since the earliest marketplaces. Indeed, money lending can be traced back as far as the Roman Empire and ancient Greece. What has changed over time is how loans work. Modern day lenders are subject to many more regulations, and loans can be firmly categorised as either secured or unsecured. Plus with the introduction of Comprehensive Credit Reporting (CCR) and the phasing in of Open Banking in recent years, your personal story is crucial to your personal loan. In other words, the amount you need to borrow, together with your credit history, will help determine what loan you choose. In the following report, we’ve broken down the current marketplace, looking at the best personal loans in 2020 compared to a year ago. We also share tips on improving your credit score and how to save money on your loan overall.
Whether you’ve had your sights set on a new set of wheels, renovating your home, taking that road trip around the country or perhaps consolidating your debt into a low rate repayment, now might be the time to consider getting yourself a personal or car loan to reach those financial goals.But where do you begin? With so many options out there, shopping around can be daunting, but comparing loans is a must! So a great place to begin your search are with the winners of the Mozo Experts Choice Awards for personal and car loans.“We compared a massive 334 personal lending products on offer from 88 Australian financial institutions and found a vast difference in interest rates from provider to provider,” said Peter Marshall, Mozo Experts Choice Awards judge. “Our in depth analysis highlighted why it is so important to shop around, and with a myriad of smaller online lenders out there competing for your business, you could be paying more than you need to by not comparing your options beforehand.”Personal Loan Provider of the Year
Today, Aussie lender NOW FINANCE introduced a no fee feature on its personal loan. That’s right, no fees. For customers applying for the NOW FINANCE Unsecured Personal Loan, and borrowing between $5,000 and $15,000, there are no fees at all. Meaning borrowers won’t pay establishment fees, ongoing fees or an early repayment penalty. However, for loans over $15,000 customers will pay fees, including a $495 upfront cost and $13 monthly service fee. So, if you’re on the hunt for a small personal loan, introduce yourself to NOW FINANCE’s newest fee-free offer:
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