Jacaranda Finance personal loans

Jacaranda Finance Personal loans overview

Jacaranda Finance  - Express Secured Personal Loan

The Secured Express Personal Loan from Jacaranda Finance offers fixed rates on loans over $5,000 and up to $25,000. Loan terms range from 24-48 months for this option, but be wary of the establishment and monthly fees.

However, as this is a secured loan, you will need to provide an asset to guarantee the loan. The addition of securing an asset makes the secured interest rates from Jacaranda Finance cheaper than the unsecured loan, as this provides the lender with more assurance you won't be a risky borrower.

Jacaranda Finance  - Express Unsecured Personal Loan

Jacaranda Finance also offers a Unsecured version of their Express Personal Loan, which allows for loan amounts of $5,000 to $15,000. This loan has a wider range of loan terms, ranging from 24-36 months, allowing you more time to pay it off.

However, there are some hefty establishment and ongoing fees, as well as a risk fee. It's worth noting that for both loans, you will have a flexible repayment cycle.

Jacaranda Finance personal loan features at a glance 

• Flexible repayment options: Jacaranda Finance offers weekly, fortnightly or monthly loan repayment options to help find a schedule that suits you. 

• Extra repayments: Jacaranda Finance gives loan customers the flexibility to make additional repayments towards their balance at no extra charge. This is a handy feature if you find yourself with a little extra cash, like a bonus from work. Plus, there is no early repayment penalty to worry about if you pay down your loan in full ahead of time. 

• Fees: Jacaranda Finance has a couple of charges you should be mindful of, such as the application fee, monthly service fees and late payment fee if you miss a regular repayment.

How to apply  

Jacaranda Finance is a digital lender, so applications are done online. In order to qualify for a loan, you must meet the following criteria: 

• Be at least 19 years old 

• Have internet banking for the account your income goes into 

• Have a regular income going into a bank account 

• Have a minimum of 90 in bank statements (this can be across multiple banks) 

• Be an Australian citizen or permanent resident

If you satisfy the eligibility requirements above, you will need to supply identification documents to Jacaranda Finance. This could be your driver's licence, photo card or passport. Depending on your case, you may need to supply other supporting documents to a loan specialist (this will be requested if needed).