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Frequently Asked Questions

  • Am I eligible for a personal loan? What documents do I need to apply?
    You are eligible for a personal loan with The Loan Club if you are an Australian resident; you are not a bankrupt; and you are over the age of 18 years old. To apply, you need to provide your contact details, ID information, employment documents and information about your financial situation including your assets and liabilities, income and expenses, etc.
  • What loan amounts do you offer? What are the interest rates and terms for personal loans?
    We offer personal loans from $10,000 up to $200,000 with loan terms up to 5 years. All personal loan applications are priced for risk through a costing matrix. Various factors can affect the rates and fees charged on a personal loan such as the applicant’s credit history, financial situation, assets and liabilities, market conditions, etc. All fees and charges will be provided to a prospective borrower via a loan quote after we have assessed your loan application. There is no obligation or cost to an applicant prior to signing the loan contract. We pride ourselves in providing quick, easy and affordable personal loans that are right for our consumer clients. Call us today or apply online now.
  • How do I apply for a personal loan? How long does it take to get approved?
    Call us today to discuss your personal loan needs or apply online now for a quick and easy personal loan. When you call us, we do not put you in a queue and we do not redirect your call here and there. We listen and we respond. We want to help you. When you apply online, our dedicated team will usually respond to you within 1 business day. We may ask you for more information. That is because we are an Australian Credit Licence holder and we are a responsible and compliant lender. Within a day or two of receiving your required application information, we will let you know if your personal loan is indicatively approved or declined. If approved, we will provide you with a no-obligation loan quote.

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Disclaimer:

The information provided on our website is for general knowledge only and does not constitute financial advice. Please consult a qualified professional before making any financial decisions. 

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All loan applications are private and discreet. All loans are subject to meeting credit criteria. Our compliance obligations require us to collect, verify and record information that identifies each person or business who holds an account with The Loan Club. During the assessment process we will ask for details which identifies you such as name, address, and date of birth, we will also require a copy of your driver’s licence or other identifying documents and/or company documents as the case may be.

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​Commencing February 2025, minimum Annual Percentage Rate (APR) is 9.95% and the minimum annual Comparative Percentage Rate (CPR) which includes all fees and charges is 10.95%. The maximum APR is 19.95% and the maximum CPR is 20.50%. These rates are only indicative and will vary depending on many factors such as the applicant’s credit history, financial situation, ability to service the loan and assets or liabilities. Minimum repayment term is 52 weeks and maximum repayment term is 260 weeks.

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​Representative example: For a borrower who meets our credit criteria, a secured personal loan of $20,000.00 borrowed for 52 weeks with an interest rate of 9.95% per annum (CPR 10.95%), would estimate to a minimum total amount payable of $21,630.23. Rates, fees and charges are subject to change.

Warning:

These comparison rates only apply to the examples provided. Different amounts and terms will result in different comparison rates. Unascertainable costs such as discharge of mortgage, legal fees at settlement as well as administrative costs are not included in the comparison rate cost and may influence the cost of the loan.

 

The interest rate charged is determined by the loan amount and the loan term. The principal as well as fees and charges provided to an applicant will be established by the information they provide to us during the loan assessment process.

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