Personal Loans

How Much Do You Need? $ 2500

How Much Do You Need?

$ 2500

Important Info - Read me first

See Worked Example - Click here

For How Long?

12 Month

For How Long? 12 Month

Estimated Repayments

$124.21

Weekly

$124.21

Fortnightly

$124.21

Monthly

Important Info - Read me first

See Worked Example - Click here

The maximum you will be charged is 48% (comparison rate 66.07% pa). Representative example: based on a loan of $2,500 over 24 months.

** WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Date secured by

Date secured by

Trusted by

Trusted by
Personal Loans Approval

Need A Personal Loan?

If you are looking for a personal loan from $2,000 to $20,000 then you have come to the right place to know more. It is crucial you understand exactly what a personal loan is before you apply for a personal loan online. At MeLoan, we are a Personal Loan finder, being we work with 100’s of personal loan lenders across Australia and we try our very best to find the most suited lender to your online loan application however before you go applying online its important you know more about personal loans.

Personal Loans

A personal loan allows you to borrow money online to meet any type of expense. You will be repaying the loan amount with interest over a fixed period of time, which can range from 1 to 7 years. With so many lenders available on the market, offering different terms and deals, it is important to find the one that best suits your needs. If you are looking for a personal cash loan, you have come to the right place. At MeLoan, we help you find the right lender that best matches your loan application and your profile.

Find the Best Personal Loan Matching Your Profile

It is important to shop around for the right personal loan. It will help you save a lot in terms of interest and fees and not to mention apply with so many different lenders. At MeLoan, we will help you find lenders based on your unique loan requirements. You can then communicate directly with the lender and determine which personal loan is best for you.

It is very important to assess all the factors when making the right choice of choosing a lender for your next personal loan.

Comparing Personal Loans

It is important to compare personal loan offers from different lenders when applying with MeLoan before you select a lender. This should be done based on how much you can afford to spend in terms of repayments. Here are the main factors you should consider when you compare lenders:

  • Interest Rate: This is the rate of interest you will be paying on the amount.
  • Fees: Lenders will charge different types of fees. This includes the application fee, monthly service fee, default fee, and any other additional fee.
  • Loan Usage: Check whether there are any limitations on how your personal loan money can be used.
  • Repayment Terms: Check whether you can make extra repayments without any fee.
  • Loan Terms: Check and compare the terms of the loans offered by different lenders.
  • Secured or unsecured:  Generally, it may be easier to obtain a personal loan of a higher amount if you have something that a lender can secure such as a car or boat.

Selecting a Competitive Personal Loan

When you apply for personal loans, it is important to ensure that you are choosing the best one available for you. How do you ensure that it is the most competitive personal loan online for you? We suggest that you consider the following factors:

Fixed Vs Variable Interest Rates

When you apply online for a personal loan, it is important to choose between fixed and variable interest rates.

  • Fixed Interest Rates: With these rates, you will have fixed repayments that will stay the same throughout the entire loan term. You will know the payment you will have to make each month and that makes it easier for you to budget.
  • Variable Interest Rates: When you choose a loan with a variable interest rate, your repayments will keep changing with the change in the current interest rates. If you want to pay the loan amount back early, this may be the right option, as it usually doesn't involve an early exit fee.

It is important to discuss the interest rate with the lenders because the final rates are usually different from the ones advertised. When comparing interest rates from different lenders, make sure to compare based on the type of rates they offer. Typically, personal loans are risk-based and the rate will be affected by your credit score and general risk profile. The following factors relevant to your profile can affect the rates offered to you:

  • Credit score
  • Income
  • Monthly expenses
  • Savings
Personal Loan Approvals

Loan Flexibility

It is imperative to check whether the lender is offering you a flexible personal cash loan or not. There are different factors at play here.

  • How frequently can you make repayments on your loan?
  • Can you make extra repayments or pay off your loan amount without any penalties?
  • Does the lender offer a redraw option if you make early repayments?

Some online loans or lenders may have inflexible terms. Loan flexibility is an important factor and many borrowers never realise the importance until it is too late.

Personal Loan Repayment Term

Personal loans will usually have a repayment term of 1 to 7 years. The term can, however, vary from one lender to another. Some lenders will limit the duration from 1 to 3 years. When comparing loan offers, check their loan repayment terms. The repayment time should be realistic and something you can stick to without any issues. Keep in mind that longer-term loans will have lower repayments but you will be paying more interest over a longer period of time.

Personal Loan Guarantor

When choosing a lender, it is important to check their terms. You should also explore whether they can offer a lower interest rate if you have a guarantor. At the same time, it is important for you and your guarantor to understand the risks involved for the guarantor.

At MeLoan, we help you find the most reliable personal loans lenders in the market. Our personal loan calculator makes your search easier and quicker. We recommend that you use the above-mentioned tips to find a lender that best matches your requirements and profile. For more information and help, feel free to contact us using this Online Form.

How Personal Loans Online Work?

So, you might be curious on how personal loans at MeLoan work? How we at MeLoan are different? Let us give you a rundown, our online application form for personal loans only takes 5-7 minutes to complete, from there MeLoan goes to work for you finding you the best suited lender in Australia they may be able to help you with your personal loan. The lender will contact you directly with an offer, then it is up to you should you wish to proceed with the lender offers. Yes, it is that easy! Save yourself the trouble and time applying online for personal loans with so many lenders trying to find the right one for you. MeLoan does hard work with instant approvals, same day personal loans and short term loans.

 

Can I Apply For A Personal Loan With MeLoan?

To apply for a personal loan through MeLoan 100% online application portal you need to be sure that you meet the below requirements:

  • Must be an Australian citizen or permanent citizen of Australia
  • Must be 18 years of age or older
  • Must have a mobile number and email address
  • Have been receiving income in your bank account for no less than 90 days

If you meet the above requirements, then you are good to go!

 

Can I Apply For a Bad Credit Personal Loan?

This is a very common question when applying for a personal loan, so let’s address it and set the record straight. In short, you can apply for a bad credit personal however, this does not mean you will be approved nor does it mean you will get approved. There are many lenders in Australia that MeLoan work with that do offer personal loans for applications that have bad credit. Bad credit lenders will look deeper into your situation then just your credit file, they will look at things like how long ago you had bad credit, if you have paid off that debt, how your current income is, how your current savings are and so much more. Having bad credit should not stop you from trying to apply for a personal loan, it is a matter trying to find the right lender that can help and this is where MeLoan helps thousands of everyday Aussies by doing our very best to find the right lender.

I Receive Centrelink Payments? Can I Apply For A Personal Loan?

MeLoan understands very well that it is very hard to obtain a personal loan online when you are receiving Centrelink payments and the big banks generally do not even consider offering personal loans to someone who is receiving Centrelink payments without another form of income. MeLoan do have lenders they we work with that may be able to offer Centrelink personal loans as the lenders we work with will assess your application in detail and not just from outset like the larger banks. If you do meet our requirements above to apply then you can apply online with MeLoan for a Centrelink personal loan however, you should keep in mind that MeLoan cannot guarantee any Centrelink personal loan can be approved, we try our best to find a lender that may be able to help you.

How Can I Apply For A Personal Loan?

Applying for a personal loan with MeLoan is extremely easy and quick. Being 100% online you don’t need to move from where you are. Just follow the below steps to get same day personal loans:

Step 1: head right over to our easy and quick personal loan application form to choose the amount you want to borrow.

Step 2: Once you have chosen the amount you wish to borrow you will be taken to our 100% paperless online portal. Fill in all the steps in our portal which only takes about 7 minutes to complete.

Step 3: The MeLoan machine goes to work to find you the best suited lender based on your application! Working with so many lenders we try our absolute best to find a personal loan lender that may be able to help you  

Step 4: As soon as the lender has your application and have evaluated if they can offer you the personal loan, if you are approved then the lender will contact you. MeLoan recommends you to read all the terms and conditions of any loan offered to you and make sure you 100% happy before signing anything.  

 

MeLoan Personal Loans is a lender-finding service only. We do not offer financial advice. We do not fund any loan product. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Do You Still Have Questions About Personal Loans? 

The Why? What? How? of Personal loans in Australia 

Australians looking for personal loans have a lot of questions. How do personal loans work in Australia? What are the interest rates like? Are there any hidden fees? In this blog post, we will answer all your questions about personal loans in Australia. We'll explain how to apply for a personal loan online, and what you need to know before you borrow money. So if you're thinking of taking out a personal loan, same day loan or quick cash loan make sure you read this blog post!

Who offers personal loans in Australia?
There are a number of financial institutions that offer personal loans in Australia. Some of the most popular banks include ANZ, Westpac, NAB and Commonwealth Bank. However, the market is shifting really quick as there are so many non-bank lenders in the market and they are offering quicker approvals and 100% online personal loans, unlike some banks. There are private lenders and lender finders like MeLoan who have applications that take less than 10 minutes to complete while some lenders in Australia offer 60 min funding! once you have signed your contract and have been approved of course.

Which personal loan is best?
There are a few things to consider when you're looking for the best personal loan. First, you need to think about how much money you need to borrow. Then, you need to compare interest rates and fees from different lenders. Finally, you need to decide whether you want a variable or fixed-rate loan. Once you've considered all of these factors and many more, you'll be able to choose the best personal loan for your needs. We have so many personal loans on offer these days you need to make sure you do your homework to ensure it's the best suited personal loan to suit your situation.

What personal loans are easy to get approved?
There are a few things that you need to consider when you're looking for an easy personal loan to get approved. First, you need to make sure that you have a good credit score. If you don't have a good credit score, there's a chance that your loan application will be rejected. Second, you need to make sure that you have all the required documentation. Third, you need to compare interest rates and fees from different lenders. Finally, you need to choose a lender that offers quick approvals if you need the money fast.

What is the best way to compare personal loans?
There are a few things that you need to consider when you're comparing personal loans. First, you need to think about how much money you need to borrow. Then, you need to compare interest rates and fees from different lenders.

Will personal loans build my credit rating?
Personal loans can help build your credit rating if you make your repayments on time. This is because personal loans are reported to the credit bureaus. So, if you have a good credit history, taking out a personal loan and making your repayments on time will help improve your credit score.

Will personal loans affect your credit rating?
Personal loans can affect your credit rating if you don't make your repayments on time. This is because personal loans are reported to the credit bureaus. So, if you have a bad credit history, taking out a personal loan and not making your repayments on time will damage your credit score.

Will banks give personal loans with bad credit?
Banks are less likely to give personal loans to people with bad credit. This is because banks consider people with bad credit to be high risk. However, there are some lenders who are willing to give personal loans to people with bad credit. But, these loans usually have higher interest rates and fees. There are many options to find lenders who may consider bad credit personal loans such as non-bank lenders or lender finders who work with a panel of large lenders.

Why are personal loans bad?
Personal loans can be bad for your financial health if you don't manage them properly. This is because personal loans can have high-interest rates and fees. If you miss a repayment, you might also have to pay a late fee. So, it's important to make sure that you can afford the repayments before you take out a personal loan.

How can I get out of debt?
There are a few things that you need to do if you want to get out of debt. First, you need to make a budget and stick to it. Second, you need to make more than the minimum repayments on your debts. Third, you need to consolidate your debts into one loan with a lower interest rate.

Is taking a personal loan a bad idea?
Taking out a personal loan is not a bad idea if you use it wisely. This is because personal loans can help you consolidate your debts, make home improvements, or pay for unexpected expenses. However, personal loans can be bad for your financial health if you don't manage them properly. This is because personal loans can have high-interest rates and fees. If you miss a repayment, you might also have to pay a late fee. So, it's important to make sure that you can afford the repayments before you take out a personal loan."

What are personal loans used for?
Some common reasons for taking out a personal loan include consolidating debt, making home improvements, or paying for unexpected expenses. Personal loans can be helpful if you use them wisely, but they can also be bad for your financial health if you don't manage them properly. This is because personal loans can have high-interest rates and fees. If you miss a repayment, you might also have to pay a late fee. So, it's important to make sure that you can afford the repayments before you take out a personal loan. Some benefits of taking out a personal loan include having fixed repayments, being able to access extra funds when needed, and potentially improving your credit.

Are Personal Loans Online Safe?
When you apply for a personal loan online, the process is secure. This is because most lenders use encryption to protect your personal and financial information. Also, when you apply for a personal loan online, you can do it from the comfort of your own home. You don't have to go into a bank or meet with a loan officer. So, applying for a personal loan online is convenient and safe.

Personal Loans Vs Credit Cards?
There are a few key differences between personal loans and credit cards. First, personal loans have fixed repayments whereas credit card repayments can fluctuate. Second, personal loan interest rates are usually lower than credit card interest rates. Third, you can usually borrow more money with a personal loan than you can with a credit card. Finally, personal loans can help improve your credit score if you make your repayments on time."

How Do Personal Loans Work?
Personal loans work by giving you access to funds that you can then use for a variety of purposes. Personal loan terms usually range from one to seven years. When you take out a personal loan, you will have fixed repayments each month. Personal loan interest rates are usually fixed, which means that they won't change over the life of your loan. Personal loans can be used for a variety of purposes, including consolidating debt, making home improvements, or paying for unexpected expenses."

How Much Can I Borrow?
The amount that you can borrow with a personal loan depends on a few factors. These include your income, employment status, and credit history. Lenders will also consider your debts and living expenses when determining how much you can borrow. In general, you can usually borrow between $500 and $50,000 with a personal loan.

What Are Personal Loan Rates?
Personal loan rates vary depending on the lender and your personal circumstances. However, personal loan rates are usually lower than credit card rates. Personal loan rates also tend to be fixed, which means that they won't change over the life of your loan. So, if you're looking for a low-interest rate on a personal loan, it's important to compare different lenders to find the best deal."

Personal Loans For Cars?
Personal loans can be used for a variety of purposes, including buying a car. When you take out a personal loan to buy a car, you will usually have a fixed interest rate and monthly repayments. Personal loans can be helpful if you use them wisely, but they can also be bad for your financial health if you don't manage them properly. This is because personal loans can have high-interest rates and fees. If you miss a repayment, you might also have to pay a late fee. So, it's important to make sure that you can afford the repayments before you take out a personal loan."

How to Get a Personal loan?
The first step is to compare personal loans from a variety of lenders. You can do this by looking online or speaking to a financial advisor. Once you've found the right loan for you, you'll need to fill out an application form. This will usually include your personal details, employment history, and financial information. After you've submitted your application, the lender will assess it and make a decision. If your application is successful, the money will be deposited into your account and you can start using it."

Can Personal Loans be Used for Business?
Yes, personal loans can be used for business purposes. However, you will need to provide a detailed business plan to the lender. The lender will then assess your application and decide whether or not to approve it. If your application is successful, the money will be deposited into your account and you can start using it.

Can Personal Loan be included in Bankruptcy?
Personal loans can be included in bankruptcy if you cannot afford to repay them. However, this will have a negative effect on your credit score and it will be more difficult to get a loan in the future. Personal loans should only be used as a last resort.

If you're considering taking out a personal loan, it's important to compare different lenders to find the best deal. Personal loan interest rates can vary depending on the lender, so it's important to shop around. It's also important to make sure that you can afford the repayments before you take out a loan. Personal loans can be helpful if used wisely, but they can also be bad for your financial health if you don't manage them properly.

Can Personal Loans be Paid off Early?
Yes, personal loans can be paid off early. However, you might have to pay a fee if you do this. Personal loans usually have fixed interest rates, which means that the interest rate won't change over the life of your loan. This can be helpful if you're trying to budget for your repayments. Personal loans can be used for a variety of purposes, including consolidating debt, making home improvements, or paying for unexpected expenses."

Personal Loans When On Centrelink?
If you're on Centrelink, you might still be able to get a personal loan. However, you will need to provide proof of income and your financial situation will be assessed. Personal loans can be helpful if used wisely, but they can also be bad for your financial health if you don't manage them properly. This is because personal loans can have high-interest rates and fees. If you miss a repayment, you might also have to pay a late fee.

How Many Personal Loans Can I Have?
There is no limit to the number of personal loans you can have. However, it's important to make sure that you can afford the repayments before you take out a loan. Personal loans can be helpful if used wisely, but they can also be bad for your financial health if you don't manage them properly. This is because personal loans can have high-interest rates and fees. If you miss a repayment, you might also have to pay a late fee. If you do have multiple personal loans it may be worth looking into consolidating all your loans to lower your repayments/fees.

What Personal Loans Are Easy To Get Approved for?
There is no one size fits all answer to this question. Personal loan approval depends on a variety of factors, including your credit score, employment history, and financial situation. It's important to compare different lenders to find the best deal for you. Personal loan interest rates can vary depending on the lender, so it's important to shop around. Do not just apply with the first company you come across, do your homework, read all the fine prints and consult a financial adviser.

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