What personal loans does Jacaranda Finance offer?

author-avatar By
on May 20, 2022 Fact Checked
What personal loans does Jacaranda Finance offer?

According to Jacaranda Finance, there are around three million people in Australia who are deemed ‘unbankable’ by traditional financial institutions.

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 Processing Fee

  • No Early Settlement Fee

  • 60-Second Transfers for eligible customers

  • Easy 100% Online Applications

  • Weekend Loan Approvals

Lender

FixedSecuredN/AN/AMore details
NO EARLY PAYOUT FEES
  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant
NO EARLY PAYOUT FEES

Personal Loan - Credit Builder

  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant
FixedSecuredN/AN/AMore details
  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant

Personal Loan - Excellent Credit

  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant
FixedSecuredN/AN/AMore details
  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant

Personal Loan - Good Credit

  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant
VariableSecuredN/AN/AMore details
  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant

Secured Personal Loan

  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant
FixedSecuredN/AN/AMore details
  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant

Personal Loan - Credit Builder Plus

  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant
VariableUnsecuredN/AN/AMore details
  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant

Unsecured Personal Loan

  • No ongoing fees
  • Cash in bank account in 60 seconds once contract signed
  • Approval is instant

*Comparison rates based on a loan of $30,000 for a five-year loan term. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate, Rates correct as of June 29, 2022. 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..

“The only way we know how to save our customers money is by charging them the lowest possible rates that we can.

“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 need to meet the following criteria:

  • Be at least 18 years of age;

  • Be an Australian citizen or permanent resident;

  • Have a consistent income into your bank account for the last 90-days;

  • Have an active email address, phone number, and online banking account.


Image by Tim Cooper via Unsplash

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author-avatar
Aaron joined Savings.com.au in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.

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