Life is full of unexpected twists and turns and one day you might find yourself short of cash. Most Aussies at some point have borrowed cash as a personal loan which can be an excellent tool to finance your needs. To view the best immediate loans available with low interest rates try an online search.
Why Take A Personal Loan?
There are many reasons why you might take out a loan. For example, to make home repairs, consolidate debt, medical expenses or pay for education. Whatever your need may be, personal loans offer a flexible way to get the cash you need to overcome the challenge. Debt consolidation is one of the most common reasons for taking out a personal loan in 2022.
How Do Personal Loans Work?
After going through the simple online application you will be pending approval. Once the application has been approved the funds will be deposited right into your bank account in a lump sum. Depending on the loan and obligations you may have to start making monthly payments as soon as the loan is wired to you.
The 4 Best Personal Loans In Australia Available Right Now
Citi Personal Loan Plus1
Citibank is one of the premier banking companies on the globe. The Citi Personal Loan Plus is a fantastic opportunity for Aussies looking to boost their cash flows with a decent interest rate. They currently have a special deal in which you can receive up to 150,000 Velocity Points if you activate your account within 90 days of approval. This loan has a minimum amount of $5,000 and a maximum loan of $75,000 which is one of the larger available on todays market. It is an unsecured loan and you have the ability to redraw on the loan through the term length. With a low variable rate of 8.90% and a comparison rate of 9.18% p.a. this is a competitive offer for 2022.
Wisr Personal Loan2
Next on the list we have Wisr which is offering great personal loans to Aussies. You can choose to borrow across 3,5 or 7 year loan terms and with a minimum amount of $5,000 and a maximum loan amount of $64,000 this suits many Aussies situations. You can get a rate estimate in just 2 minutes on their website using the application form. There is however a $595 application fee when applying and approved for this loan type. With a fixed interest rate of 7.45% currently on offer and 11.65-12.21% comparison rate it is amongst some of the better deals available right now.
ANZ Variable Rate Personal Loan3
ANZ is a banking name that the majority of Aussies are familiar with and their personal loan platforms are fantastic. With the variable rate personal loan from ANZ you have the option to redraw on the loan over the duration of the term length which you can not on the fixed rate option. There is a $120 annual fee on this loan and a $150 initial fee on application approval but the lower interest rates may help to offset the costs. In fact they’re offering as low as 6.49% interest rates at the time of this article and a 9.70% (to 19.09%) comparison rate. The loan length on this product is available from 1 to 7 years.
Now Finance Personal Loans4
An industry leader in 2022 Now Finance is offering amazing products to Australians. They help to gear loan structures towards your exact needs and have a wide variety of options available. The minimum loan length is 1.5 years and a maximum loan term of 7 years is on offer right now. They have a 6.75% p.a interest rate on variable, and a 6.75% (up to 19.95%) on comparison rates. These types of loans can be taken out for vehicles, renovations, medical bills and all sorts of other personal needs.
Bonus Tips For Loan Comparisons
- Purpose Of Your Loan – Loans can be used for a broad range of purposes. For example, a car loan can be used to buy a new vehicle or a personal loan can be used for medical expenses. Make sure you are aware of what the purpose of your loan is, as this will help you narrow down your search and find the best lender to work with.
- Strong Customer Support – It is important to know that you have a strong advocate when taking out a personal loan. A good lender will stay on top of your needs and guide you through the application process.
- Prepayment Plans – While some lenders offer the ability to repay a loan at anytime, others may require you to start making payments right away. Choose the financing company that offers the most suitable plan for you situation.
Find Your Perfect Personal Loan Today
Join the millions around the nation who have used a personal loan to their advantage. Life has many unexpected hurdles and challenges so having access to immediate cash can help to overcome. Whether it is medical expenses, moving home, financing a vacation, consolidating debts or simply boosting cashflow a personal loan may be great for you. To find the best rates available in your locality try a simple online search.
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