How much can I get a loan for?
Our brokers will assess your most comfortable loan amount with you based on your income and expenses, your reason for the loan, and your repayment ability. The maximum unsecured personal loan is $50,000 there is no maximum secured loan and the minimum is $4,000.
What can I use my personal loan for?
The personal loan that you will be approved for will be yours to spend as you need. This ranges from buying educational products, new rims for your car or a new dining set to whatever it is that you need with the loan. We do recommend that if you do plan on buying a new or used car that you select the car loan options instead.
How do I know how much my repayments will be?
Use Yes Loans’ simple, efficient Loan Calculator to work out what your repayment options could be, based on loan approval. Remember the calculator is a guide only. It’s as easy as one, two, three!
Our current lowest rate is 4.45%^
Loans can be arranged for terms between 2-7 years.
Example of a typical unsecured consumer fixed rate loan
$20,000 (includes a $250.00 establishment fee and a $990.00 origination fee) loan at an interest rate of 10.99% p.a. (12.21% p.a. comparison rate*) over 5 years.
Repayments are $438.00 per month over 60 months ($101.07 per week), this includes $13.00 per month loan administration fee.
Total repayment over 5 years: 60 x $438 = $26,280.
The interest rate is indicative only and may vary according to the lenders assessment.
^Now Finance Personal Loan rate. For approved applicants only.
*The comparison rate of 12.21% p.a. is based on an unsecured consumer fixed rate loan of $30,000 over a term of 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The National Consumer Credit Protection Act 2009 (NCCPA) requires that all lenders that publish interest rates for a product also publish the comparison rate. The comparison rate aims to inform the consumer of the true cost of a loan and is designed to make it easier to compare the different credit products available in the market. A comparison rate does not include all fees and costs, eg Government fees and charges and will not include other factors that may make the loan more attractive, eg flexible loan arrangements.
Can I repay my personal loan quicker?
Absolutely. Check out our Loan Calculator for tips on how to repay your loan quicker. In most cases, there are no extra charges for making additional payments or lump sum deposits into your loan. However, we always recommend reading your credit contract first, as early repayment terms are subject to the lenders conditions.
Do I need to provide security?
Loan security may be required for some loans. If you default on a loan with security, the goods can be sold off to recoup the money. You should remember that any remaining balance is still the responsibility of the borrower. You can still sell the security but only with the financier’s prior approval.
Short Term or Pay Day Loans
Yes Loans does not offer “Pay day” or short term personal loans.
The use of this type of loan product can damage your credit file and reduce your chances of getting an approval for any future lending.
Does Yes Loans charge a fee?
Yes, but only if your loan is approved. In which case, we may charge you a maximum fee of $1,250 inclusive of GST. This is included in your loan amount and disclosed in our Credit Guide and Quote which we will provide you.
Apply online now or call us on (08) 9472 3000 to discuss your loan and finance options.
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