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Get Low Interest Personal Loans With ACDS To Cut Back Your Borrowing Costs!

Do you need a low interest personal loan? But high interest rates are holding you back from taking personal loans? Say no more to our low-interest personal loan. Check your options with ACDS by reading this article.

Imagine borrowing from a lender. The things you need to ask are:

How much can they lend you?

 For low-interest personal loans, Australian lenders offer loans from $2,000 up to $100,000.

How much is the interest rate?

Interest rate is usually the annual percentage charged on your total loan.

How long can you borrow?

The average loan terms are between one and five years.

In the Australian market, low-interest rate personal loans are determined by current trends in the market that is why it’s always changing. A low interest rate is below the average market rates however always remember depending on the type of personal loan and requirements there are several low rates at any point of time.

There are 4 types of Low Interest Personal Loans in Australia:

  1. Secured personal loans. This loan can be sealed with a collateral like a car or home. This means the collaterals can be used as payment to the lender if you don’t pay back the loan. The lender can decrease the risk of financial loss and will offer a lower interest rate.
  2. Unsecured personal loans. An unsecured loan doesn’t require any collateral. For lenders, unsecured loans are riskier than secured loans. In order to protect themselves from risks, the lenders require higher credit worth and use higher interest rates.
  3. Variable-rate personal loans. Depending on the Market interest rates or the Reserve Bank cash rate, a variable interest rate will vary and will go up or down. Borrowers can get advantage if they are subjected to low-interest rates compared to the interest rates of fixed-rate loans. 
  4. Fixed-rate personal loans. Interest rates are fixed and will remain the same until you finish paying. If interest rates are low but keep increasing then it is better if you take a fixed-rate personal loan.

Low Interest Personal Loans

Need a loan today? Apply online!

What you need to do to get a low interest personal loan

Remember, a low interest rate means you will pay less interest on the loan. However, you should also consider the factors that can reduce total costs and not only the low interest rate. These are ways to get a low rate personal loan:

  • Comparing personal loans

 You need to choose a product that suits your needs. Decide what type of loan you want to be able to compare rates. 

  • Check the comparison rate

A low interest is a good thing however you must first pay your fees and charges for your loan before celebrating.  To know the real cost of your loan, something you need to do is compare the advertised rate with the comparison rate. Often the comparison rate is higher because of the included interest rate, standard fees and charges. Read the terms and conditions very carefully before you sign. Hidden charges or extra fees might be present.

  • Know what is your credit score

 Risk-based interest rates may get you a more personalized rate rate that will match your credit profile. A clean credit score and credit history will get you the best interest rate. Before applying, you need to check your credit score and raise your overall score. Your credit score tells lenders  your ability to pay back loans and potential risks.

  • Prepare the lender’s requirements 

As stated earlier, lenders  offer the best interest rate for  borrowers  that have a good and clean credit history.  You need to supply the lender about your information to apply. Even if your not the ideal borrower you need to provide the following to your lender:

Personal and contact details

-Proof Identification (i.e. passport, driver’s license)

-bank account details

-Employment details

-Recent income statement or proof of income

  • Do not be afraid to bargain with your lender and make extra repayments

Talk to your lender or credit provider. Don’t be afraid to negotiate for a better deal. You can play the loyalty card and get a discounted rate. Make extra repayments. By paying your debts quickly you avoid some fees however you need to keep an eye for associated fees. Exiting the loan early might be more costly if the lender charges steep extra repayment fees.

There are Low rate personal loans for special situations:

For Self-employed, low rate self-employed personal loans will work. The lender will check your ability to repay loans by checking your tax returns and bank statements.

For Joint-application, where both individuals applying for low-rate joint application personal loans have good credit scores. Together with your co-borrower, you can get a much lower rate if you combine your creditworth unlike if you applied separately.

People with Bad credit. Lenders will likely give you higher rates on bad credit loans. You can still choose a secured loan, offering a collateral, and you might get a better deal. Or you can get a guarantor, he/she will become responsible for your repayments if you 

Australian lenders that offer low rate personal loans

  • Traditional banks (this includes the big four)
  • Credit unions
  • Peer-to-peer (P2P) lender
  • Online lenders

Banks can offer a wide variety of financial products. You can even borrow more however the bank will be more thorough and strict with the lending criteria. While other types of lenders are more relaxed with requirements, they have limited borrowing capacity.

You can use low-interest rate personal loans in:

  • Paying travelling expenses. Go to your dream holiday destination with style for a  low-rate holiday loan.
  • Pay for your dream wedding. Have your dream wedding without breaking the bank.
  • Buy an engagement ring. Say yes to a low-rate loan by applying for a secured or unsecured loan.
  • Buy a new car. It has never been easier to buy a car. Just get a low-rate loan or secured car loan.
  • Covering your medical bills. A low rate personal loan can cover your dental bills, cosmetic surgery costs and other hospital bills.
  • Redecorating and renovating your home. Our low rate home improvement loan will be perfect if you want to remodel your home.
  • Consolidating your debt. A low-rate debt consolidation loan helped Aussies roll personal loans and credit cards to a more affordable repayment.

Personal Loans

Other FAQS for Low-interest personal loans

How do I make my loan flexible? Which features should I use?

Figure out if you can make repayments per week, fortnight, or month. How will you make repayments? Will you be able to track your loan online?

Are low rate personal loans better than a credit card?

Interest-free credit cards are generally used to cover smaller purchases where money is needed quickly. A low rate personal loan is cheaper if you are planning to pay for a bigger project.

What is a redraw facility?

It is something that helps you access any extra repayments you have made. You can withdraw some of these repayments if you come across an emergency, you’ll have to pay a fee to use this service.

Switching to a personal loan with lower rate?

You can apply for a debt consolidation personal loan if you are dealing with numerous debts. You can also take out a low-interest rate personal loan and use it to fund your existing debt. (Credit Representative Number – 535991) which is an Introducer Appointed Representative of Marketplace Finance Pty Ltd (Credit Representative Number: 487316).

ACDS is not a lender and does not make credit decisions. ACDS matches customer applications with lenders in our network based on the information provided, in exchange for a commission paid by the lender for advertising services provided. There is no guarantee that you will be accepted by a lender or that you will be offered terms suitable for your financial needs. Not all lenders will be able to provide amounts up to $5000. The time required to process and transfer the loan varies by the lender. This website does not directly endorse any particular product or service. Any information on this site should serve as opinion only. As a condition of extending credit, some lenders you may be matched with may run a credit check from a credit reference agency. Late or missed payments may be subject to increased fees and/or interest rates.

1. Subject to application being approved by the lender. Not all lenders are able to provide up to $5000

2. Subject to lenders requirements and approval. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures.

Consumer Advisory: ACDS is a loan matching service. This site will submit the information you provide to a direct lender. Upon loan approval, a direct lender may require further information from you which will be collected after we transfer you to their website or they may contact you via phone or email.

All applications will be subject to credit checks and affordability assessments in line with responsible lending. Loan terms, conditions and policies vary by lender and applicant qualifications. Late or missed loan payments may be subject to increased fees and interest rates. Not all lending partners offer up to $5,000 loans, and not all applicants will be approved for their requested loan amounts. Loan repayment periods vary by lender also. Lenders may use collection services for non-payment of loans.

Not all borrowers will qualify for a loan, the operator of this website does not engage in any direct consumer lending, we simply provide a FREE loan matching service to the public. To operate this service we receive a commission from the lender we refer you to.

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