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 …
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 …
You can find most personal lenders offer from $2,000, up to as much as $40,000. An unsecured personal can really help you cover your immediate expenses without breaking the bank. With a good credit score intact, you’ll be more likely to get a loan offer with a lower interest rate. You are somewhat restricted if …
When we find ourselves in a spot financial difficulty, where do we go to find the best solution? This is a question many of us face at some stage in our lives, and whether it’s looking for a credit card or a loan, there are so many options to compare in the market. It’s very …
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 …
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 …
Let’s be honest, purchasing a car is a pretty big deal. Most of us don’t have the readily available cash for such an acquisition, and the likely scenario is that we will have to borrow some of the money to pay for it. The money required can be substantial depending on the car you choose, …
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Australian Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.*This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.