Compare personal loans
It is simple to make online personal loan comparisons with Friendly Finance. Our comparison table will show you loans from renowned lenders, highlighting the loan amount range, loan terms and interest rates charged. We also detail relevant product features on the lender profile page along with the application process and documents you’ll need to provide whilst applying. We try to stay away from confusing technical jargon, to outline the loan offer in the simplest way possible. However, we realise you may still have some questions about how a personal loan works, so below are a few key details to get you started.
How much can I borrow and how long for?
Our personal loan comparisons are made of lenders who offer between $2,001 and $50,000. The loan terms offered range from 61 days to 7 years, which means we work with lenders who accommodate various borrowing requirements. Once you are approved for a loan the lender will authorise the transfer of your funds to the bank account provided during application. The time taken to receive the money will depend on the lender and your bank institution but, in some cases, the money will arrive in your account the same day.
Will a credit check be made?
Most lenders will undergo a credit check on your application, from one of the main credit bureaus, to assess your creditworthiness. Creditworthiness is a valuation made by the lender to determine the probability you may default on the loan. If you have a higher credit score, it means you have a better credit rating and a higher chance of being approved.
What are the costs?
When making personal loan comparisons, the cost of borrowing will be a big factor. Typically, personal loan lenders charge a per annum interest on the loan that is shown as a percentage of the loan principal. A lower interest percentage means the cost of borrowing will be less. However, interest may not be the only fee charged. We list other fees charged by the lender under their more details page so be sure to fully review the loan product and include all potential fees into your cost of borrowing calculations.
Managing your loan is very easy once you are approved. The lender will outline the repayment dates and set up a direct debit from your bank account to automatically repay the loan. All you will need to worry about is making sure you have enough funds in your account.
If you feel you may want to repay the loan early, review the lender’s early repayment policy before applying. Some lenders will not allow early repayments, whilst others may charge you for this privilege. Choose a lender with more lenient terms to reduce the overall cost of the loan.
Here at Friendly Finance, we aim to help you have a smooth, stress-free experience. If you have any questions about how to use our website, please don’t hesitate to contact us. Don’t wait any longer to get the money you need. Choose a personal loan that’s right for you today.