Jacaranda Finance is one of the most competitive digital lenders in Australia offering a range of personal, debt consolidation, and car loans.
If you are an Australian citizen or permanent resident, you can apply regardless of your credit score. Temporary residents are not eligible.
Types of Jacaranda Finance personal loans
In a market full of digital lenders that only offer unsecured personal loans, Jacaranda Finance stands out. The company provides a range of loans that can suit a variety of purposes.
Secured and unsecured personal loans
Unsecured loans generally require at least an average credit score for a loan term of 12 months. A secured loan comes with a lower interest rate and an extended term of up to 24 months.
All personal loans allow for weekly, fortnightly, or monthly repayment frequency via direct debit. Early payments are also allowed with no early payment or early exit fees.
Like most online lenders, Jacaranda Finance establishes the interest rate and loan conditions based on your credit history as well as the security you can provide.
If you want to buy a new car and need quick access to money, a Jacaranda Finance car loan usually reaches your bank account and is ready to use in about 24 hours. You can borrow up to $35,000, and in some cases, you can secure the loan with the car you’re purchasing.
You can apply even if your credit score is less than perfect. Loan terms vary from 12 to 48 months.
Debt consolidation loans
Consolidating your debt and paying only one instalment each month can make budgeting easier. Jacaranda Finance offers a specific debt consolidation loan for up to $10,000. Whether you’ll need security for the loan is determined by the amount borrowed.
What can a Jacaranda Finance personal loan be used for?
You can use Jacaranda Finance personal loans for many purposes, including but not limited to:
- Debt consolidation
- Home improvements
- Wedding finance
- Honeymoon or holiday
- Buying a new car
- Paying medical or dental bills
- Unexpected emergencies
USeful Jacaranda Finance loan features
Jacaranda Finance’s main advantage is the fact that you can borrow low amounts, a feature that makes their personal loans among the most competitive. In addition, the lender’s loans come with additional benefits.
Personalised interest rates
Interest rates start are personalised based on your credit history. The better your credit score, the lower your rate will be.
Centrelink income accepted
Receiving government benefits will not affect your ability to borrow. You will, however, need to show proof of income when applying.
Flexible repayment schedule
You can opt for weekly, fortnightly, or monthly instalments, making it easier to align with your income and spending habits.
No early repayment or exit fees
If you have the funds to pay back your loan in full, you can do so without worrying about penalties.
Quick access to funds
Jacaranda Finance aims to process all applications within 24 hours. In the best case scenario, funds can be deposited into your account on the same day you apply.
Who can apply?
Loans from Jacaranda Finance are offered to Australian citizens and permanent residents only. In addition to citizenship or residence, you must also:
- Be at least 18 years of age
- Have a regular and consistent income deposited into a bank account
- Have internet banking for the account your income is deposited into
- Have at least 90 days of bank statements
How to apply
To apply, you will need to provide the following to Jacaranda:
- Proof of identity, e.g. Australian passport, driver’s licence
- Proof of address, e.g, utility bill, bank statement
- Proof of income, e.g. bank statements, payslips
- Details about your current debt and living expenses
- Your myGov details if you receive Centrelink benefits