Bank loans are not all repossessions and debtors' prison - in some cases they makes good financial sense. But even a low rate personal loan will cost you for the privilege of money up front. So you'll want to manage your borrowings, and bag the best deal. So that you've got all the know-how you'll need when it comes to choosing a personal loan, Mozo's money writers have written a range of must-read guides covering off all aspects to personal borrowing. Search below for the one that best meets your needs.
We get it. Sometimes personal loan eligibility criteria aren’t so clear cut. So, before you even consider applying for a personal loan, it’s super important to shop around and compare your options until you find the right loan for you.
Understanding the credit world can be difficult at the best of times. But when there are terms like credit score, credit file and credit history being thrown around - now that’s just downright confusing.
If you’re like many other Aussies with a personal loan, you probably signed the papers and never looked back. But have you ever stopped and wondered about the potential savings you'd get if you were to refinance? Now, now, don’t let the word ‘refinance’ scare you away. With our help, refinancing your personal loan will be a piece of cake, only the savings will be far sweeter!
If you’re planning on applying for a personal loan, prepare to have your credit history placed under the microscope. This information is incredibly important to lenders, and if you want to get in their good books you need to make sure your credit score is first-rate.If your credit history has been less than spectacular, however, don’t fret. There are a few things you can do to clean up your profile and get you back in good financial standing. Follow these tips and before long you’ll be able to snag a personal loan to finish that kitchen reno or go on that whirlwind holiday.
When you’re looking for a means of credit to fund an upcoming expense like a holiday, revamping your home or paying for your big day, two main banking products are likely to come to mind - a personal loan or a credit card.
Between credit cards, personal loans, home loans and car loans, Aussies have many options open to them when it comes to borrowing money to reach their goals. But while this can be a useful tool, it can also lead to a mound of debt for spenders who don’t manage their credit properly.
If you're sick of the high interest rates attached to personal loans from the major lenders in Australia, you may be interested in a different type of lending. It's called peer to peer lending or P2P for short.
Who doesn’t need a bit of financial help, every now and again? Whether it's a car loan for your ideal set of wheels or a wedding loan for your upcoming nuptials, taking out a personal loan can help you reach your dreams sooner.
Gone are the days when Aussies would only borrow through the big banks, as today there are a great range of lenders from credit unions, peer to peer players and online lenders offering personal loans with competitive rates, fees and features.
From the crystal clear waters of Halong Bay in Vietnam to the hustle and bustle of Istanbul’s Grand Bazaar, the world has plenty to offer any avid jetsetter. So if you’ve got the traveller’s itch and can’t wait to head off on your next adventure, it’s time to think about what will be the best way to fund your great exploration - a travel loan or credit card.
You click open your savings account only to discover there’s not quite enough money sitting there to fund your much needed new set of wheels. There’s no need to turn sour as there’s a personal loan out there for you, one which will help you drive away with that dream car.
Are you a bit of a worry wart? Someone who likes to stick to a budget? Change doesn’t sit so well with you? If this is all sounding a little like you then a fixed rate personal loan may suit you just right. A fixed rate means the interest rate will remain the same throughout the loan term. So when market interest rates rise and fall your loan will not be affected. You have the security of knowing exactly what you’ll have to make in repayments each month.
Having the approval of a personal loan up your sleeve can free up so much time and money to do and buy the things you really love, need and want. Think of it as a ‘live for the moment’ ticket to freedom. If you have a secure income with spare dosh to pay off a personal loan, then why not take advantage of a lotta cash at once?
So you woke up this morning and decided that having flowers delivered to your door once a week would be a novel thing to do. And we don’t doubt it. There are other ways Mozo might suggest you spend your money, but how you decide to spend it is entirely up to you. Um, you need some spare money to do that right?
It may be that time in your life where work has become a distant memory, the kids are all out of home and you’re enjoying being a man or lady of leisure. However, while you’re retired and living without the stresses of work you can still find yourself under financial pressure in your twilight years. You never know what unexpected expenses may arise and when you might you need to take out a pensioner loan for some extra cash. It may be for a new car, sudden medical expenses or household appliances.
Ding-dong, wedding bells are ringing! If you’ve just started the planning your big day, then you’ve probably got a fair idea of how much it’s going to cost... a lot. But not everyone has a spare $50k lying around, so you might consider taking out a personal loan to cover the cost. Splitting things 50/50 with your fiancé? Taking out a loan for two would be much easier to repay than taking one out on your own, especially if you’re just starting out.
Jargon jargon jargon. If this is the first time you've considered taking out a personal loan, then the whole concept might seem a little unfamiliar to you. So allow us to run you through the basics. But there's really only a few main things to consider when securing a low-interest personal loan. Will it be secured or unsecured? Fixed-rate or variable-rate?
Is eating lunch at your desk the norm these days? Do you buy your grocery shopping online while bussing-it to work? If you’re even struggling to find time for yourself between work, kids and home, chances are your finances may be a little tired too.
Life is great, but the truth is, some things come with a heftier price tag than others. But that's why banks are here to help: in the form of personal loans. It may be the difference between ‘walking down the aisle’ at your dream wedding or transforming your home into an entertainers delight!
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:
In the current world we live in, it’s no surprise that many Aussies are looking to go green. While it’s unlikely that recycling, composting or steering away from single-use plastic will cost you an arm and a leg, other efforts come with a heftier price tag. Meet the green personal loan. Whether you’re installing solar panels, getting a water tank or even making the switch to an eco-friendly car, these loans are designed to make your sustainable dream come true.
There are obvious perks to choosing a shorter personal loan term - it takes you less time to pay down your loan plus you pay less in interest over the life of your loan. But what if you could also receive a lower interest rate for choosing a shorter term? Well, the good news is, with some lenders you can.Last week, personal loan lender SocietyOne introduced a tiered pricing system that does just that. Not only does it reward customers for their good credit history but also gives them an extra pat on the back for choosing a shorter term. On it’s Unsecured Personal Loan (Fixed), the lender offers a competitive 7.99% (9.25% comparison rate*) on it’s 5-year loan term. However, for customers that choose to borrow for 2 or 3 years, they offer a low 6.99% (9.00% comparison rate*). Want to find out more about this loan? Read below!
Many Aussie personal loan lenders have slashed rates over the last 12 months, with many hitting all-time lows. But the truth is, some rates remain stubbornly high, which means that you could be missing out on a better deal by not shopping around.