Personal Loans
Unlock Financial Flexibility with a Personal Loan.
Whether it’s the thrill of a new motorbike, the allure of cosmetic enhancement, the adventure of a holiday, or the comfort of a caravan, we’re here for you. Tailored for your personal endeavors, we provide loans with the assurance of fixed interest rates and terms spanning from one to seven years.
Precision and Passion in Every Deal.
Our commitment? Ensuring every loan we provide aligns perfectly with your aspirations and interests.
Secured vs Unsecured Personal Loans
Secured loans means securing the loan with an asset, typically with a car that is owned outright. This gives the lender the right to repossess the car if you do not meet your repayment obligations. The benefit of securing your personal loan is getting a better deal in terms of better rates.
Unsecured personal loans pose the biggest risk to a lender as they are lending out money and hoping that you will pay them back within the agreed timeframe. Although there is no asset tied to the loan the lender can still take you to court if you fail to meet your repayment obligations. Unsecured personal loan rates tend to be higher than secured personal loan rates.
What can I use a personal loan for?
- Holidays
- Gap Finance (Shortfall of funds to complete a house purchase)
- Cosmetic Surgery
- Renovations (Kitchen, Bathroom, Laundry etc.)
- Weddings
- Medical expenses
- Small Business expenses
- Debt consolidation
- Tax debt
- New or used cars
- Educational courses
- Household furnishings
- Landscaping
- And many more just ask us!
Personal Loan Features:
Flexibility
Great thing about personal loans is you’re never locked in. Most personal loans have flexible early termination options to ensure that you can pay off the loan whenever you want.
Extra repayments
Did you know that making an extra $50 or $100 extra per month helps to pay off your loan quicker? Personal loan lenders encourage you to make little bit extra on your repayments every month so you can pay off your loan before the fixed term and save on interest. Eg. If you took out a 5 year loan and paid it off in 3 years you actually save on 2 years of interest!
Personalised rate
Personal loan lenders will assess your application based on your overall profile and determine a suitable rate. Things such as whether you’re a homeowner or renter, how long you’ve been at your job, how many credit cards can affect the rate. Generally a secured loan will get a better rate than an unsecured loan.
Fees
Personal loans will have an establishment fee but generally no monthly fees or early termination fees. The fees they are generally added onto the loan so therefore you wont need to pay anything upfront. At Loan Location we will help you compare and find the most suitable option for you.
GENERAL ADVICE WARNING
Any advice contained in this website is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice in regard to those matters.
