Jacaranda Finance falls within the mid-sized lending space, with payments of anywhere from $2,100 to $25,000. This makes it different from payday lenders; Jacaranda follows the National Consumer Credit Protection Act of 2009.

Jacaranda Finance offers personal loans with fixed rates and terms, with a maximum loan period of 48 months. Loans are unsecured, meaning they can be used for pretty much anything, such as a wedding, holiday, or household expense. Jacaranda Finance also offers secured car loans.

Like other personal lenders, Jacaranda Finance has a tiered interest-rate approach. This generally means that the higher your credit score, the lower your interest rate.

Unlike other personal lenders, however, Jacaranda Finance offers only fixed-rate loans - not variable. This ensures your repayments stay the same and aren’t susceptible to wider interest rate movements.

Jacaranda Finance Personal Loan Fees

There are a few fees associated with a personal loan at Jacaranda Finance - some or all of which may apply to your specific application.

  • Establishment fees: The establishment fee is charged for assessing, documenting and processing your loan.

  • Monthly fees: Depend on the amount you borrow and the term of your loan. Debited monthly in advance on the first day of the loan term, and each month after. Not applicable to cash boost loans.

  • Risk fees: The risk fee is a one-off, non-refundable fee that covers the level of risk associated with advancing a loan. Not applicable to cash boost loans.

  • Missed payment fees: The missed payment fee is due and payable within the next repayment cycle.

As mentioned, there are no early repayment or exit fees, allowing you to get ahead on your loan.

Jacaranda Finance Personal Loan Features

Distinct features of Jacaranda Finance's loans include:

  • The absence of early repayment and payout fees: This allows you to get ahead on your repayments and be debt-free sooner.

  • Speedy application processes with rapid outcomes: This allows you to get your loan amount sooner.

  • Quick 60-second transfers: For eligible clients (subject to conditions), convenient and entirely online applications.

  • Loan approvals even on weekends: Many big expenses occur on weekends, such as buying a car or another big-ticket item.

These elements contribute to Jacaranda Finance's growing recognition in Australia as a reliable alternative to traditional bank loans.

Qualifying for a Jacaranda Finance Personal Loan

To qualify for a Jacaranda Finance personal loan, applicants must meet specific criteria. These include:

  • Being at least 19 years old

  • Being an Australian citizen or permanent resident with a stable address

  • Employed (whether permanently or casually)

  • Having a stable income for the past 90 days

  • Managing current financial obligations well

  • Possessing an active email, phone number, and online banking account

These requirements ensure that borrowers are responsible and capable of repaying their loans, aligning with Jacaranda Finance's commitment to responsible lending.