Welcome to our Loans area. We compare all sorts of different loans for many different circumstances. Even if you do not have a good credit history there are still loans available to you. Use our website to compare different different loans and find the one which is best for you. Make sure you know how much the loan will cost you before you apply. If in doubt seek financial advice.


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Loans are important to almost everyone in Australia. Maybe you have a credit card or a mortgage? Either way borrowing credit is a totally normal part of life. Personal loans are widely available to many Australians who have good credit. However, for some people loans aren’t so easy to get. If you have a bad credit history then the banks these days are unlikely to be so keen to lend to you. However there are options available to you in the form of loans for people with bad credit. Payday loans are short term loans which usually have high interest rates but which can be lent to almost anyone with a regular income even if they have bad credit. Bad credit loans tend to be secured loans which can provide you with larger amounts of credit but there is risk involved as you may have to provide an asset as security for your loan. Consolidation loans are designed to help you consolidate your debts into one payment which is useful if you cannot organise your debts. There are also home loans available to those looking to purchase or release equity from their property.

Payday Loans

Payday Loans are sometimes referred to as fast cash loans or cash advances. Essentially, payday loans are short-term loans for small amounts (typically between $100 and $600), loaned to you until your next payday. Payday loans provide a convenient and quick way to access cash and in most cases the lender will approve cash advances even for applicants with black marks on their credit history making it much easier for people to get a loan. Payday loans providers may carry out credit checks but in some cases these do not apply.

Generally, to take out one of these payday loans, you will need to earn over a certain amount (this varies but sometimes it is $400 per week net is required) and prove this via your payroll. You will also need to be a full Australian resident. Applying for payday loan is easy and fast.

Bad Credit Loans

Bad Credit Loans are designed for those who have a bad credit history. That means that even if you have been blacklisted or have defaults you will most likely have your application considered by providers of Bad Credit Loans. The easiest way to find Bad Credit Loans is via a specialist loans broker. They take your information, your requirements and how much you can afford to borrow and find suitable lenders on your behalf. Bad Credit Loans encompass a wide range of loan types, including unsecured and secured loans.

So, if you have been refused a loan using traditional methods, don't give up: compare the market for bad credit loan offers – you will probably find that there is a lender out there whose loans do suit your needs and you will find it easier to get a loan.

Car Loans

Buying a car is the second-most expensive purchase that a normal Australian is ever likely to make. It might be exciting as a prospect but not surprisingly the large majority of people don't have the money for a car in cash. Therefore it is important to remember that when it comes to making the purchase, you should take your time to make sure you get a good deal.

Most car dealers offer a financing package – but in most cases they carry sky-high interest rates. Independent car loans companies could be able to offer much more competitive deals than car dealers or the banks.

Lots of banks won't even consider applications from people who don't have a perfect financial track record or the same (full-time) employer for at least two years. Car loans providers now offer a wide range of loan types so all borrowers can find car loans that suit them. Before you finalize your car deal, make sure to check your level of insurance and whether you are getting the best for your money!

Home Loans

Buying a home is the biggest purchase the average Australian is ever likely to make. Not surprisingly, very few people can afford to buy a house in one payment without a loan, so finding some of the leading home loans (or mortgages) has become an essential part of the process. Whether you choose to look for home loans directly or go via a mortgage broker, there are many to choose from. These days, even though banks are getting tougher on borrowers there are still home loans available to people who don't have an excellent credit rating.

Home loans are secured loans, meaning that your home is used as collateral. As this means you risk losing your home if you are unable to meet repayments, it is important to consider your payment plans, affordability and financial outlook for the coming years. Most home loans last up to 25 years so they are a big commitment for any person.

Consolidation Loans

Many people find themselves in debt thanks to a variety of reasons – including unpaid credit cards, bank loans and other creditors. They all carry their own interest rates and terms, making the situation hard to keep track of. Consolidation Loans allow the person in debt to pay off these debts via one monthly payment. In other words, all the debts are consolidated into one place and one loan making the situation much more manageable. The interest rates on Consolidation Loans are far lower than if you continue to try and juggle various debts.

Personal Loans

Personal loans are usually unsecured loans which means that you do not need to provide an asset such as your home as a security deposit for the loan. This can be beneficial as in some ways it means that personal loans can carry less risk than secured loans. However, if your personal loan is unsecured the interest on it may be higher than that of a secured personal loan. The amount of money which it is possible to borrow varies. Small personal loans of around £100 can be obtained at high rates of interest and in some cases credit of up to £20,000 can be obtained.

There are personal loans available for people with bad credit but the interest on these loans can be very expensive. Personal loans are most commonly borrowed from the banks although you will need a good credit history to borrow from the bank. If a personal loan is what you are looking for then make sure that you shop around. The rates of interest on personal loans will vary and some companies may be considerably cheaper than others.

Unsecured Loans

Unsecured loans are also known as Personal Loans. Unsecured Loans are generally supported by the borrower's credit history rather than his or her assets.

You can usually borrow any amount between around $1,000 and $25,000 with Unsecured Loans. The borrower may often choose his or her preferred repayment periods but in most cases this is around 5 years or less.

So which loan is best for you?

There are a number of ways to choose the right unsecured loan and the easiest is by comparing APR (Annual Percentage Rate). This is a good place to start. You should also consider whether the loan is fixed rate (i.e. the interest rate stays the same throughout the loan period) or a variable rate – meaning it could rise or fall with changes to the central bank base rate.

Do I need a good credit rating to get an Unsecured Loan?

Generally, the lender will look at your credit file when deciding whether to approve your loan application. That does not mean that people with a bad credit rating cannot get unsecured loans. However, the credit rating you have is likely to affect the interest rate on the loan.

Secured Loans

Secured Loans are loans in which the individual borrower pledges a tangible asset such as a property or a car as collateral against a loan. The borrower will usually get a favourable rate of credit as well as be able to borrow a larger amount than on normal Unsecured Loans. This is because the lender has the legal option of taking the asset if the loan is not repaid. So the lender has security on the loan and therefore gains less risk.

Why should you consider a secured loan with this risk?

Generally there are three reasons a borrower would opt for Secured Loans:

  • It is easier to gain because the lender has security on the loan.
  • The borrower can borrow a larger amount of money.
  • Secured Loans can be repaid over a longer period (up to 20 years, although a longer term increases total interest.

Secured Loans are loans in which the individual borrower pledges a tangible asset such as a property or a car as collateral against a loan. The borrower will usually get a favourable rate of credit as well as be able to borrow a larger amount than on normal Unsecured Loans. This is because the lender has the legal option of taking the asset if the loan is not repaid. So the lender has security on the loan and therefore gains less risk.



Mortgages are often referred to simply as home loans. There are many different types of mortgages and home loans available in Australia. These include Standard Variable Rate Home Loans, Fixed Rate Home Loans, Non Conforming Loans and Reverse Mortgages. There are many more and each one carries particular features which may or may not suit you.

Standard Variable Rate Home Loan

Standard Variable Rate Home Loans are one of the most commonly offered home loans offered by lenders. The interest rate is variable – which means it moves in line with market movement and can either go up or down over the loan term. Standard Variable Rate Home Loans generally last around 25 years.

Fixed Rate Home Loan

With Fixed Rate Home Loans the interest rate is fixed and does not increase or decrease within the fixed rate period. This means that you enter a contract with the lender that the rate will not change throughout the term of the loan – no matter what happens within the Australian or world economy. Fixed Rate Home Loans generally lasts between 1 to 5 years.

Non Conforming Loans

Non Conforming Loans are ideal for people who have a low or impaired credit history. Usually Non Conforming Loans involve a risk assessment after which the lender decides what interest rate is charged. As the risk level is higher to the lender (given that the borrower does not have an ideal credit past), the rate is likely to be a bit higher than on a standard home loan.

Reverse Mortgage

Reverse Mortgages are designed for seniors. It works on the basis of elderly borrowers who have "rich" assets but not a large amount of cash flow (i.e. they have little or no income). Reverse Mortgages allow the individual to borrow for any reason, and the funds are valued against the equity of their property.


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