Lender Review: Jacaranda Finance


Company Brief

Unsecured Small Loan: $1,000 – $2,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Payday Loan 4% per month Fixed interest rate $1,000 $2,000 60 minutes 9 months 12 months


Jacaranda Finance offers unsecured small loans from $1,000 to $2,000. Interest rates amount to 4% of the borrowed amount. It also includes an establishment fee amounting to 20% of the loan amount.

For example: if you borrow $1,500 for a 12-month term, and if you have an excellent credit score, your establishment fee would amount to $300. Your total repayment amount over the term of the loan would be $2,220 ($185 per month) with $720 in total payments made in the interest and other fees.

Secured Medium Loan: $2,100 – $4,600

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Minimum Loan Term Maximum Loan Term
Payday Loan 8.69-21.24% annual percentage rate Fixed interest rate $2,100 $4,600 60 minutes 9 months 24 months


Secured medium-amount loans from Jacaranda Finance range from $2,100 up to $4,600 with options to repay over a 9- to 24-month period. Interest fees range from 8.69% to 21.24% depending on the borrower’s credit score.

The establishment fee for secured medium-amount loans is $400.

As an example: if you take out a $3,000 loan amount for 24 months with an 8.69% annual interest rate, the establishment fee would be $400 with $390.96 total payments in interest made. The total repayment amount would be $3,390.96 with a monthly payment amount of $141.29.

Secured Large Loan: $5,000 – $15,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Minimum Loan Term Max Loan Term
Payday Loan 8.69%-21.24%interest rate per annum Fixed interest rate $5,000 $15,000 60 minutes 13 months 36 months


Jacaranda Finance offers larger secured loans, ranging from $5,000 – $15,000 with repayment periods of 13 to 36 months. There is no establishment fee for secured large loans. The interest amount for this type of loan ranges from 8.69% – 21.24% per annum depending on the credit score of the borrower. You can use your car, motorbike, boat or caravan as security for the loan.

For example: if you take out a $10,000 secured large loan and you have an excellent credit score, total payments made in interest would amount to $1,303.04 (total payments of $11,303.04) with a monthly payment of $470.96.

Breakdown of all fees for each loan product

The following fees are included in unsecured small loans:

  • Interest Rate: 4% per month
  • Establishment Fee: 20% of the loan amount

For secured medium loans, the following are the fees paid by the borrower:

  • Interest Rate: 8.69%-21.24% interest rate per annum, depending on the user’s credit score
  • Establishment Fee: $400

Lastly, the following are the fees included in a secured large loan:

  • Interest Rate: 8.69%-21.24% interest rate per annum, depending on the user’s credit score

Other fees to look out for are the following:

  • Dishonour Fee: $35, charged when a direct debit payment is not honoured.

Application Process

The application process for all loans from Jacaranda Finance is done online through the company’s website. To apply, go to the top of the website and click on the ‘Apply Now’ option. Select the loan amount and payback duration using the slider, then click ‘Apply Now.’

Following that, you’ll be asked to enter some personal and financial information, such as the following:

  • Name, Address, and Date of Birth
  • Mobile phone number and valid email address
  • myGov details (if on Centrelink Benefits)
  • Online banking details and personal details such as employment information.

To be approved for a loan, you need to meet the following requirements:

  • You must be at least 18 years old.
  • You must be an Australian citizen or permanent resident of Australia.
  • Have a consistent source of income for three months before applying.
  • Have an active banking account and provide bank statements.
  • Have a working phone number and email address.

A member of the evaluation team will review your application after you complete the online application form. If you apply during work hours, the company may be able to approve your application within 60 minutes.

The 60-minute turnaround time is based on a normal applicant’s approval procedure and is not guaranteed. Applicants that apply outside of the usual business hours of 7 a.m. to 7 p.m. Monday through Friday and 8 a.m. to 4 p.m. Saturday AEST AEST are not eligible for 60-minute approval.

Jacaranda will also run a credit check. The purpose of a credit assessment is to determine if you have Excellent credit history or some issues. If you have a bad credit score, lenders may decline your loan application.

If your loan is approved, the company will give you a loan agreement to sign. Jacaranda will only be able to send your funds after they have received your completed contract.

Approved applicants with an NPP-enabled bank account often get their funds within 60 seconds from signing the loan agreement. If you do not have an NPP-enabled bank account, the funds will be deposited into your account the next day.

Notable Loan Product Features

Some of the notable loan product features of Jacaranda Finance include the quick application approval and loan payout for each loan account. If you are eligible for a loan and the company does not require any additional documents from your end, you will typically receive your loan approval within 60 minutes, with borrowers with NPP-enabled accounts receiving the loan proceeds within 60 seconds after signing the loan agreement.

The company will also help you set up a direct debit arrangement to automate your loan payments, generally following your pay cycle. This means you don’t have to remember to pay your bills every week, fortnight, or month. The direct debits will stop after your loan is paid in full. There are no fees associated with early repayment if you wish to pay off your loans in full before the end of the loan term.

Jacaranda Finance also offers bad credit personal loans for borrowers with a bad credit history.

The Company


  • Online application process through the Jacaranda Finance website.
  • Fast processing time with 60-minute outcomes for turnaround time on application approval, and 60-second loan payout. This makes Jaccarandha perfect for busy people.
  • Auto-debit arrangement aligned with the borrower’s pay cycle.
  • Zero early-repayment fees.
  • Loans are also extended to borrowers with poor credit history and Centrelink customers.
  • Jacaranda Finance has a friendly team at the Australian Call Centre who provide brilliant service.


  • Excerpts of customers complaining about the excessive amount of information being demanded during the application process.

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