Secured Loans

A secured loan usually offers you the chance to borrow more flexible amounts of money, as the loan is 'secured' against a significant asset such as your property or car. This provides additional security to the lender, as they are then able to seize your asset (the collateral) if you are unable to repay the loan. As such they may be prepared to offer you a higher loan amount. Below you can compare secured loans. Check the basic features such as loan amount and terms , as well as the interest rate. If you require a more detailed look at each product, just click on the Detail Information link. If you are ready to make an inquiry or apply, just click on More Info. Please make sure that you read the terms and conditions of any secured loan thoroughly.

Search Report: Personal Loans  Unsecured Loans  Secured Loans

If you wish to speak to someone: Contact Us or Enquiry Line: +61 (0) 2 91912624

COMPANYTYPE

TYPE

Lender / Broker

APR

APR

The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

LOAN AMOUNT

LOAN AMOUNT

Amount you can borrow

MIN TERM

MIN TERM

Minimum borrowing period

MAX TERM

MAX TERM

Maximum borrowing period

TERMS

TERMS

Terms and conditions of loan

SUITABLE

SUITABLE

Applicants the loan is suitable for

RESTRICTIONS

RESTRICTIONS

Restrictions regarding potential borrowers

SECURED LOAN

SECURED LOAN

Loans secured with an asset

UNSECURED LOAN

UNSECURED LOAN

Loans which are not secured with an asset

MORE INFO

Westpac Personal Loan
Westpac Personal Loan

Lender14.39 % p.a.$4,000 - $50,0003 years7 yearsTerms

Terms

You must habe a permanent monthly income and a good history with no bankruptcies.

Suitable

Suitable

Almost any personal purpose

Restrictions

Restrictions

1. You must have a permanent monthly income, which can be verified
2. You must have good credit history with no bankruptcies
3. Your Australian drivers licence number (if you have one)
4. Details of your current financial commitments
5. You must provide your email address.

YesNoWestpac Personal Loan
Whether you're consolidating debt, booking a holiday, making household purchases, planning a wedding, or any other combination of purposes, a fixed-interest Personal Loan offers the certainty of knowing what your repayments will be. DETAIL INFORMATION >>Services

Services

1. You could receive a conditional approval within minutes of applying over the phone.
2. Borrow up to $100,000 with this low, fixed interest personal loan to buy items for your personal use


Advantages

Advantages

1. Borrow up to $50,000 with this low, fixed interest personal loan to buy items for your personal use
2. You could receive a conditional approval within minutes of applying over the phone.
3. Reduce your monthly repayments by extending the term of the loan for up to 7 years.


Disadvantages

Disadvantages

1. $250 establishment fee
2. $7.50 monthly service fee
3. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175.
4. Missed payment fee of $9.00

Bank of Melbourne Personal Loan
Bank of Melbourne Personal Loan

Lender14.74% p.a.$3,000 up to $40,0001 year5 yearsTerms

Terms

See website for terms and conditions

Suitable

Suitable

For those seeking a loan

Restrictions

Restrictions

To be eligible for this Bank of Melbourne Personal Loan you must be 18 years or older, and also a permanent Australian resident.

YesNoBank of Melbourne Personal Loan
Time to go on the holiday you’ve promised yourself for years? Follow your dreams with an Unsecured Personal Loan. You can borrow between $3,000 and $40,000 and choose to make repayments weekly, fortnightly or monthly. You could even receive conditional approval before you go shopping. DETAIL INFORMATION >>Services

Services

1. 10 to 15 minutes to complete your application
2. Choose to repay weekly, fortnightly or monthly


Advantages

Advantages

1. Convenient redraw facility with our variable interest rate option1
2. Flexible personal loan repayment options. Choose a fixed interest rate for peace of mind that your repayments won’t change for the term of your loan, or a variable interest rate which lets you make extra repayments each month.
3. The term of your secured personal loan is your choice. Choose a term of
4. 1 to 7 years for variable interest rate loans
5. 1 to 5 years for fixed interest rate loans


Disadvantages

Disadvantages

1. There is a $195 Establishment Fee (Excludes government charges such as stamp duty, search fees, REVS fees or any other disbursements, wherever these are applicable.)
2. Monthly administration fee of $9

If you wish to speak to someone: Contact Us or Enquiry Line: +61 (0) 2 91912624

Compare Secured Loans

What are secured loans?

Secured Loans can be available to those with both good and bad credit. A secured loan means that you borrow money but offer something of the equivalent or higher value as collateral for the security of the loan. The most common form of secured loan is a home loan or mortgage. However, there are other forms of secured loan available.

What can you use to secure a loan?

Theoretically you can secure a loan against almost anything as long as it is worth as much or more than the amount that you borrow. Some people secure loans against their cars and others their houses. It is also possible to apply for a loan using your pension of provident fund as a loan.

What is the difference between a broker and a lender?

There are both secured loan brokers and lenders who can help you with your needs. A lender will assess your credentials and work out whether or not to lend directly to you. A broker will take your details and try to find a lender who can lend to you and find you the loan you need. This can be useful if you cannot find a lender who will lend to you. However, you are likely to be charged for this broking service.

What do you need to get a secured loan?

In order to be eligible for a secured loan you will usually need to be over the age of 18 and have an income of at least $1500 a month. If you are looking for a mortgage you are likely to undertake a full credit check to ensure that you will be able to pay back the loan.

Keep your costs down

If you are looking to obtain a secured loan then first of all work out how much you need to borrow and keep it to a minimum. The more that you borrow the more you will have to pay back so it really is worth keeping this amount down. Research different lenders and find out who can give you the best deal on your loan. Work out exactly how much you will have to pay each month and make sure that you can afford it. Secured loans do carry a risk. If you can’t make repayments back on time then you risk losing your home or whatever asset you used to secure the loan.

Know what you are getting into

Before you agree to borrow the particular secured loan which you want make sure that your read the terms and conditions of the loan thoroughly. It is really important to make sure that you understand exactly what you are getting into. Loans are serious financial products and should be treated as such. If you have any problems or queries it could well be worth seeking independent financial advice.

How to compare secured loan?

When comparing the various loan providers on the market you must ensure you are fully aware of the fees, charges and monthly repayments. If you are not able to make the monthly payments then you could find your house or car is repossessed. If you are in any doubt then you should seek advice. Ask yourself, how much will I need to repay each month? What is the APR? What could I lose if I default on my payments?

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