Information Hub

Useful information and news from the Friendly Finance team

A beginners guide to loans

A loan is a sum of money that is expected to be paid back with interest.  Traditionally, loan applications were made in person at storefronts. The advancement of technology has enabled credit providers to accept loan applications online and make approval decisions within a matter of minutes. There are a variety of loan types on …

2 years AGO
September 10, 2017

A friendly guide to car insurance

Looking for a car insurance policy is less appealing than shopping for a car. We think most people will agree, there are so many different options available, and not one clearly defined policy that’s the obvious choice. Be wary of the cheapest options in the market, because these policies might not be right for your …

2 years AGO
August 14, 2017

Loan Type – SACC vs MACC

There are many different types of consumer loans such are secured, unsecured, lines of credit, home loans, etc. However, the majority of consumers opt for one of two options; known as short-term or personal loans. These are SACC’s (Small Amount Credit Contract) and MACC’s (Medium Amount Credit Contract). What is a SACC loan? A SACC …

2 years AGO
August 14, 2017

Peer to Peer lending explained

The concept of peer to peer lending originated in the U.S. It then made it’s way over to the UK and then eventually Australasia. The process involves borrowing money outside of the conventional methods of using a bank, building society, or credit union. This form of lending is most commonly used by individuals or small-medium …

2 years AGO
August 4, 2017

Interest rates explained

Australian Lenders are obligated to undergo affordability assessments on all applicants before offering a loan. If you are planning on applying for a loan, we advise you first assess your own ‘affordability’ to ensure you are confident you will be able to make the repayments in the time period agreed. Compare your current financial income …

2 years AGO
August 3, 2017

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