Jacaranda Personal Loan Rates & Review

Jacaranda Personal Loans as of April 2024

Lender	Advertised rate	Comparison rate*	Monthly repayment	Interest Type	Secured Type	Early Exit Fee	Ongoing Fee	Application Fee	Total Repayment	as ofApril 27, 2024

	12.00^%_p.a.	27.44^%_p.a.	^$664	Variable	Secured	N/A	^$0	^$400	N/A	More details
	Secured Personal Loan
Secured Personal Loan More details
	14.95^%_p.a.	29.30^%_p.a.	^$693	Fixed	Secured	N/A	^$25	^$995	N/A	More details
	Personal Loan Australian residents and citizens only Personal Loans from $5,000 to $25,000, with loan terms ranging from 24 - 48 months Terms, Conditions and Lending Criteria apply
Personal Loan Australian residents and citizens only Personal Loans from $5,000 to $25,000, with loan terms ranging from 24 - 48 months Terms, Conditions and Lending Criteria apply More details
	17.95^%_p.a.	32.40^%_p.a.	^$723	Variable	Unsecured	N/A	^$0	^$400	N/A	More details
	Unsecured Personal Loan
Unsecured Personal Loan More details

Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of April 27, 2024. View disclaimer

Jacaranda 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 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 also offers secured car loans.

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

Jacaranda Personal Loan Fees

There are a few fees associated with a personal loan at Jacaranda - 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 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's growing recognition in Australia as a reliable alternative to traditional bank loans.

Qualifying for a Jacaranda Personal Loan

To qualify for a Jacaranda 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's commitment to responsible lending.