How to Apply For an Australian Personal Loan Online

Apply for a Personal Loan

Online applications for a personal loan is a simple process that requires a few minutes of your time. If you want to save time and do not want to deal with the long waiting times of local bank branches and telephone calls then an online personal loan application may be for you. In a few easy steps you can be on your way to receiving your money within 24 to 48 hours.

Step 1 Search and Compare

The first step in applying for the best personal loan offer for you is to compare all the personal loan deals available to you. You must take into account what the personal loan is for, whether you would like a secured or unsecured loan, the time you want to pay the loan back and the interest rate you are willing to pay. For example Joe would like a unsecured personal loan to pay for his holiday, he would like to pay the loan off in 5 years and is looking for an interest rate of under 15 percent. For a scenario like this there are a few options, ANZ, Aussie, Citibank and St George all have personal loans that can cater for Joe’s needs.

Step 2 Gather Information

Once you have made the decision on what personal loan you would like to apply for you simply follow the link to the online application page. In order to apply for a personal loan in Australia in most cases you need to be over 18, a permanent Australian resident, earn over $20,000, have no more than two people making the application and you have to be able to make the monthly repayments. If you meet these requirements then you can move onto the next step of providing documentation. You need a Driver’s licence (if applicable), the address and contact number of your place of work, if self-employed, your accountant’s name and contact number, your assets, liabilities, income and expenses. Once you have gathered all this information you are ready to proceed with the online application.

Step 3 Online Application Form

We have selected the personal loan we want, gathered all our information now it is time to fill in the online personal loan application. This is a simple process that involves selecting the type of loan you want, the time you want to pay it back, your personal details and the method of payments. You will receive a response to the application within 60 seconds and depending on the bank you can have your money within 24 hours.