Personal Loans Secured Loans & Unsecured Loans

A Personal Loan is for Personal Use.

The first thing to know is that a Personal Loan is for Personal Use.That is to say the money must be for wholly or predominantly for personal or domestic use.

A Personal loan can not be taken out for business uses; such as starting a business, stock for a business, cars for business use etc.

Secured Personal Loans

A "Secured Personal Loan" is where the Lender or Financier, such as a Bank, Credit Union, Finance Company, agrees to advance the money to the customer for the physical purchase of an item, but takes a "goods mortgage"; that is to say a "Bill of Sale" or "security" over the item; such as a car for Personal Secured Loans.

Vehicles are the most common item that is "secured against" for Personal Secured Loans; next to a house and is often referred to as a "car loan" or Secured Loan.

As the vehicle in this case is going to be "used" as security, there needs to be a way of ascertaining its value.

A dealer for example will have a price on the car, it will be advertised for a different price, and after negotiation with the customer, a third price will generally be agreed upon. This final agreed price; is also called, its "TRUE MARKET VALUE".

However there is a standard that is adopted by financiers; and in typical tradition, there is more than one standard; but mostly the value that a financier will put on a vehicle ( used ) is found in a book called "GLASSES GUIDE", and is also available on-line by subscription.

The other main guide is the "RED BOOK".

The term used is "booking the car".

Your Car Loan Broker, or Personal Loan Broker will be able to "book" the car for you, letting you know if you are getting a good deal; or not.

Both these guides represent a nation wide average of sales on different vehicles, gained from gathered data, from government motor vehicle agencies, auction houses, etc.

It represents a national guide as to what the vehicles are being bought for, traded in for, and sold for in retail, trade and wholesale situations.

Financiers generally take the "middle of the road value"; or trade value, as the value they will lend against, however this is a guide only, as the overall profile of the Customer is considered, and forms part of Nigel Brookson's 6 'C' of Credit Assessment.

The sole purpose of the Personal Loan is the motor vehicle that is being purchased, and there can not be any 'extra money on top' for anything else.


Unsecured Personal Loans

An Unsecured Personal Loan is the Lender; more often a Bank than a Finance Company, agreeing to advance the money to a customer for the 'worthwhile purpose' but takes no security over any item with Personal Unsecured Loans.

Examples of Personal Unsecured Loans are stereo equipment, holidays, and debt consolidation (i.e. non tangible items).

Cars can be funded with a secured personal loans, or with an unsecured personal loans, depending on the profile of the Customer.

With an Unsecured Personal Loan, the money can be used to make several purchases, or for several reasons. An example could be consolidating 2 credit cards; which total $10,000, a car for $20,000 and a holiday for $5,000. The total loan amount would in this example be $35,000, and no security would be taken if the loan was approved as an unsecured personal loan.

Because of the greater risk, unsecured lenders do not like to see an adverse credit history, and if the personal loan is for debt consolidation, say consolidating an existing personal loan with credit cards, the lender will want to see statements of the credit cards, and the personal loan statements, to see if the credit history has been good.

Banks seldom take on another Banks bad debt. Many people are unsure of exactly what their credit file says about their credit rating, and how it will impact on their chance of getting a personal loan.

To get a copy of your credit file, your credit score, and your credit report detailing your credit health you can go to "My Credit File Report".

Sometimes it may be possible to receive an approval for a personal loan for say a holiday; where the Financier takes security over a car for example; that is not currently under finance. This is done often when the bank does not have alot of history on the potential customer, but other aspects of the personal loan application are quite strong.

Your Personal Loan Broker can guide you to what is, and what is not going to be possible, and the best way to go about how to apply for a personal loan.

Online Loans for the Best Personal Loans Australia wide can be found with Personal Loans Online, who have Loan Brokers and Lenders advertise on this website. Take a few minutes to read about the Personal Loan you are after, then compare Lenders of Online Loans for Personal Loans Australia wide, Personal Loans Adelaide, Personal Loans Brisbane, Personal Loans Sydney, Personal Loans Melbourne and Personal Loans Perth.

Payday Loans are available to people employed looking for some fast cash, and at Personal Loans Online you can find Lenders who will do Online Loans for Payday Loans. You can learn more about Payday Loans on this website.

Personal Loans Online - Online Loans, Loan Lenders for Personal Loans in Australia.


'Personal Loans Online' finds personal loans in Australia online, car loans, secured loans and unsecured loans for people wishing to combine debt, buy a new car, renovate their home, in fact you can search for personal loans online for any worthwhile purpose.

Personal loans online can find the personal loan Broker that specialises in the personal loan type that you are after, taking your Personal details into account.

Are You after a Car Loan?

Personal loans online can find the car loan that is right for you. Find car loans Australia wide here.


Top 10 Tips to help you with Personal Loans in Australia

  1. Avoid unsecured loans if possible

    Avoid using unsecured personal loans if you can, by offering something as security. This will get you a lower interest rate as the lender will feel more secure about the risk for the personal loan. Cars are often used as security for personal loans, but can not be used if the car is under a car loan, car finance, or a secured personal loan. Generally speaking unsecured loans have a variable interest rate, while secured personal loans have a fixed interest rate.

  2. Be honest in your personal loans online applications

    Be honest about why you want the personal loan. Your personal loan broker will be able to suggest the best way of getting a personal loan approval. There are many different types of personal loans these days; car loans, commercial loans, leases, home equity loans, to name just a few. Make sure the information you supply is accurate and complete, undisclosed credit is one of the major reasons personal loans online applications are declined, and would not have been if the credit was disclosed. The lenders such as banks will find out, so be honest accurate and complete when applying for personal loans online, or face to face for that matter.

  3. Having Trouble getting Standard Personal Loans Online?

    If the banks like St George Bank & Citibank,, building societies and credit unions wont lend to you because you re self employed, newly arrived in the country or have a poor credit history, consider finance companies, because they take on sometimes a greater risk. A number of non-bank lenders offer personal loans online which especially cater for this type of borrower. The interest rates on these types of personal loans are generally higher but often you will be able to transfer out of it once you have shown some good credit history. Your Personal Loan Broker will be able to assist you with this situation.

  4. Check your bank and Personal Loan Statements Online for errors

    There are claims that more than 50 percent of personal loans statements contain calculation errors. Simple mistakes, like the entry of the incorrect balance or the application of the wrong interest rate at the wrong time can be costly and mostly favor the lender. We all make mistakes, and yes even bank computers make them and that's why borrowers should keep a close eye on their personal loan statements.

  5. Do you have to take out a Personal Loan at all?

    Think twice before borrowing money without security, i.e. an unsecured personal loan. You may have a better option already available; Do you have equity in your home? Can you use a credit card, which is Ok for short term borrowing, but remember the interest rates are often higher than those of a secured personal loan.

  6. Don't just take the dealer online personal loans finance

    Don’t accept personal loans online or lease finance offered by a car dealer before comparing the offer with personal loan options from a personal loan broker. Dealer finance might have the appearance of being easy, but it will take just as long, and is often much, much more expensive than using a personal loan broker.

  7. Don't make multiple applications for personal loans online at the same time

    Do Not apply for personal loans online with more than one source at a time. This will negatively effect your credit rating, and also generally stop all of the lenders from approving the personal loan online application. The term for this is 'Credit Shopping', and will add to the number of enquiries on your credit file, making the task of successful applications for personal loans online that much harder.

  8. Don't rely solely on comparison rates

    All lenders must now include "comparison rates" in advertisements for their home loans and personal loans to help consumers get a feel for their total cost - fees and the interest. Don't rely solely on comparison rates when choosing a loan and beware of their shortcomings. They only take into account fees and interest rates, not the features and how suitable the loan is for your circumstances.

  9. Have the right information when applying

    What you will be required to supply in any application for lease finance will depend on whether the lease is for personal or business use.

  10. Personal Loans Online Applications will require:

    ⇒ 100 point ID check documents
    ⇒ proof of current employment
    ⇒ proof of current residence
    ⇒ income details, such as payslip's or tax returns, some times a letter from your employer

Business lease financing requires more detailed information and may include your:
⇒ balance sheet
⇒ tax returns

Confirm with the Personal Loan Broker what you will need to supply.

Personal Loans Online works by scoring your personal loan application and then automatically directing you to the Personal Loan Broker who specialises in the personal loan online that you are after, taking you personal situation into account.

Personal Loans Online, does not touch your credit file, and does not add an enquiry as part of the scoring process, so it relies on the information that you supply.

It is important then that you supply the correct information when you apply for Personal Loans Online, because otherwise your application will be declined.

The Best unsecured Personal Loans Online are given to people who qualify according to the 6 'c' of credit management, as documented by Nigel Brookson.

Best unsecured personal loans Online generally are as a result of people with excellent credit, small number of enquiries, and stable in their home life and employment. Having assets will also help secure best personal loans.

Personal Loans Online Questions and Answers:

Sometimes you are just curious about how things work or have a simple question and feel you just don't want to bother us. Most of the basic questions are covered to try and help you with getting your finance.

If your questions are not answered on these pages, please contact us. We are here to assist you as much as we can, and want you to be matched with brokers and Financiers that can assist you.
You can email your questions to

Who are Personal Loans Online?
Personal Loans Online is a Finance matching business operating across Australia, which seeks out and secures personal loans online for you, our customers, and for FREE.

Personal Loans Online in Australia, including:

Personal Loans Online has many years of experience, and access to around 70 personal loan brokers, lenders and domains, providing a wealth of resources all working to help you find the best Personal Loans online for your circumstances.

See the "About Us" page for more details, or...

Click here to find a personal loan

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Why use Personal Loans Online?
Personal Loans Online experience and knowledge of financial products and lenders is an invaluable resource in getting you personal loans.

Many people have applied for personal loans and been declined with the answer 'you don't meet the lending criteria'. Often this is the right answer because all lenders have different criteria which are put in place to select the exact customers they want.

This is one of the many advantages of dealing with Personal Loans Online. We are aware of the lenders criteria and place your details with the personal loan broker / lender that best suits your individual circumstances.

In addition, sometimes you may not meet one of the lending criteria by only a small margin, but in other areas you may be very strong. Knowing your individual circumstances and the lenders criteria, enables us to "match" you; on your behalf with the personal loan broker / Lender of best fit, turning a potential decline into an approval.

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What is the process of getting a loan; What do I have to supply?
It really is very simple...

  1. Click Apply Now and complete our online assessment form.
  2. You will be automatically matched to a personal loan broker that specialises in organising personal loans online with your individual circumstances, and secure a loan specifically for you.
  3. The personal loan Broker will advise you of exactly what is required in your circumstances, but as a guide:
  • If you are consolidating an existing Personal Loan, 6 months most recent statements
  • If you are consolidating a store/credit card, 3 months most recent and complete statements
  • A Home owner/Mortgage will need to supply current council rates notice
  • If you are employed; 2 most current pay slips
  • If you are self employed, most recent tax assessment notice
  • If living in N. S.W. the signed Financing Broking Contract
  • If living in Vic. the signed Finance Broking Appointment

( The last 2 can be printed off of the Personal Loan Broker's web site; or they can email/fax them to you)

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How long will it take to get an approval for Personal Loans Online?

Once the personal loan broker has ALL of the 'supporting documentation' and other information needed, they analyse the information and select the best outcome for you.

The time from having all the information to a 'conditional approval' is generally less than 2 hours. Plus, as a special service, if you get ALL the information they require, within 24 hours, they will give your application "PRIORITY" status.

So make sure you send everything needed as fast as possible ..... helping them get the money to you much faster..........

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Will Personal Loans Online do a Credit Check?

Many personal loan brokers don't care about your credit file, all they care about is getting paid, so they apply a "shotgun" approach to getting you a loan, hoping that someone, anyone, will give you a loan.

In this process, many enquiries are made on your Credit File, leaving long lasting problems that can take years to correct.

At Personal Loans Online, we know your Credit file is vitally important and very fragile, we protect it as though it was our own and do not in anyway harm or add to it.

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What Repayment terms can I have with Personal Loans Online?

With your repayments, you can choose weekly, fortnightly or monthly repayments which ever works best for you.

With regards to the length of the loan, if you borrow less than $15,000 your loan term can be between 0 and 5 years.

If you are borrowing more than $15,000 your loan term can range from 0 to 7 years...

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What will the interest rate be on Personal Loans Online?

Personal Loan Brokers do not lend you the money, therefore they do not determine the rate.

They work for you to find which Bank; such as St George Bank & Citibank, Credit Union or Finance Company will be lending you their money. As such, the lenders determine the interest rate themselves and let the brokers know what it will be when they give "unconditional" approval for your loan.

It is fair to say however, that personal loans online panel have access to the most competitive rates in the market place and can and do negotiate with lenders on your behalf to get the best deal possible...

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How do lenders determine what interest rate to charge me?

All lenders operate the same way, lending money based on the assessment of risk.

The rate will be determined by the strength of your application.

Every piece of information earns points giving a total score at the end. For example if you are a home owner you will score more points than someone who is renting, although the person renting will score extra points if they have been at the same address for a long period. The same applies to employment, credit defaults and the list goes on.

All of the information can be verified by the lender, or you may be asked to provide verification, so it is vitally important to provide accurate information.

Conflicting information can result in your loan being declined.

Your personal loan broker is there to help as they check all the information before they submit it to the lender...

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What are the Repayments going to be?

Repayments will be determined once the loan has been 'unconditionally approved'.

As a very rough guide, loan repayments are approximately $6 per week per $1,000 borrowed.

Many factors have an impact on the repayment amount, amount borrowed, term of the loan, strength of the applicant and finally the interest rate.

This estimate is an indication only, and will vary depending on your specific circumstances...

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What are the Finance Brokers Contracts / Appointments?

These two documents are legal requirements for personal loans brokers in several states of Australia.

They are designed specifically to disclose the maximum limits for the credit you are seeking. The information contained in them, describes the upper limits on loans from the panel of lenders, and not an indication of what your actual loan terms will be.

One of the advantages of dealing with Personal Loans Online is we have many contacts with personal loan brokers lenders and domains. This means we are able to get the best fit for your situation.

In States where these documents are required, you CAN NOT get a consumer loan without completing them as they are legal requirements.

They are also required BEFORE your application can be passed on to any lender...

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Can I make additional repayments?

Many lenders offer this option on their loans, and is often available without penalty.

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What are the fees and charges with Personal Loans Online?

Each lender has a different scale of fees and charges, including different fees, depending on the type of loan you apply for.

Once your Personal Loan broker has all of the information and reaches the final 'Unconditional' approval stage they, and therefore you will know all of the fees and charges for your particular loan.

As a general indication however, application fees are commonly around the $150 to $200 mark...

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Are there any hidden or other charges with Personal Loans Online?

Once you are provided you with the loan repayment amount, it is inclusive of ALL fees and charges. "Drive away no more to pay"

Personal Loans Online do not charge Customers anything at all to apply for personal Loans Online.

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Do I Qualify for a Personal Loan?

Some people are not sure if they qualify for Personal Loans, or Car Loans.

That is what Personal Loans Online is all about. Once you have entered your details in our Enquiry / Application form, our computer system decides who can help you, taking your personal details into account. If you do qualify for a personal loan, your application is discussed with you, by a specialist Personal Loan Broker, and you will be asked to send through your 'Supporting Documentation', which is then passed on to the Lender of 'Best Fit'; who makes the decision whether to give you the personal loan.