The brand offers fixed-rate, fixed-term personal loans. The current maximum term is 24 months. There are also no added fees for paying off your loan early, which is “the best way to save yourself some money”, according to Founder and CEO Daniel Wessels.

“Our loans are long enough to give you some breathing space with repayments, but short enough not to drag on for years, costing you more in interest,” Mr Wessels told Savings.com.au.

There are a few features that Jacaranda loans have, which makes the brand stand out among the competition including:

  • No Early Repayment & Payout Fees

  • Fast Applications and Loan Outcomes Available

  • 60-Second Transfers for eligible customers (conditions apply)

  • Easy 100% Online Applications

  • Weekend Loan Approvals

Lender

FixedSecuredN/AN/A
More details
Interest rates subject to change based on your personal circumstances
  • Interest rates start at 14.95% and could be as high as 27.95% based on your personal circumstances and loan term
  • Australian residents and citizens only
  • Personal Loans from $3,000 to $25,000, with loan terms ranging from 25 - 48 months
  • Terms, Conditions and Lending Criteria apply
Interest rates subject to change based on your personal circumstances

Secured Personal Loan

  • Interest rates start at 14.95% and could be as high as 27.95% based on your personal circumstances and loan term
  • Australian residents and citizens only
  • Personal Loans from $3,000 to $25,000, with loan terms ranging from 25 - 48 months
  • Terms, Conditions and Lending Criteria apply
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 May 20, 2024. View disclaimer.

What is Jacaranda Finance?

Jacaranda is a family-owned and operated lender, and founder Daniel Wessels says its customers are “more than a credit score”.

“The company has been built from the ground up by listening to customers and what they need since 2013, when the first customer was approved,” Mr Wessels said.

“Jacaranda is fast becoming a household name, and more and more everyday Australians know where to turn when they need a fast personal loan.

“We see our products as an alternative to a bank personal loan, with fast, fair and responsible service. Our customer service is second to none, and everything that we do, we do for our customers.”

What type of customer does Jacaranda suit?

Jacaranda offers risk-based pricing, which means the better a customer’s financial position, the more competitive rate they’ll receive.

Mr Wessels said the brand caters towards customers in the ‘near prime’ space.

A near prime customer is perhaps one who has been turned away by the big mainstream lenders yet still has a good, if not excellent, credit rating.

Blockquote: “Generally, these customers have been messed around by their banking institution. Due to the rigid nature of traditional lending models, these customers are turned away for bank finance, generally due to a blemish in their credit history which could date back as far as three to five years,” Mr Wessels said.

“Our loan products are designed to give these consumers a fair alternative to traditional finance that they can access with ease, 100% online. We feel that our products are priced fairly in relation to the risk profile of the borrowers we lend money to.”

Eligibility Criteria

To be eligible for a personal loan with Jacaranda Finance, you generally need to meet the following minimum criteria:

  • Be at least 19 years of age.
  • Be employed on a permanent or casual basis.
  • Have a consistent income going into your bank account for the last 90 days.
  • Be in control of your finances and be handling existing financial commitments comfortably.
  • Be an Australian citizen or permanent resident with a fixed address.
  • Have an active email address, phone number, and online banking account, in your name, that belongs to you.

Image by Tim Cooper via Unsplash