What type of loan is right for me?

Choosing a loan

Below we have provided explanations for the different types of loans available in the market place.

Unsecured loan

Unsecured loans allow you to borrow money without having to provide security against it. Someone obtaining an unsecured loan agrees to pay back the loan within a set term and signs an agreement.

Logbook loan

This is a no credit check loan that can be obtained within a few hours. Just as long as you own a vehicle that is in your name and finance free you could get the cash the same day.

Guarantor loan

With this people can gain access to credit even if they have poor credit history or have been in default and arrears. Someone can act as a guarantor such as a family member or friend so you won't have to be credit scored.

Payday loan

A payday loan is when you borrow money from a lender with a fixed rate of interest that is due back on your next payday. You will have to sign a payday loan agreement to agree to all the terms and conditions before the funds are released. Your payday loan can be in your account on the same day.

Secured loan

This is a second charge on your property and is only available to people who have a mortgage and also have equity in their property. It allows you to spread your payments up to 30 years, subject to your ability to repay.