ANZ Personal Loan 2019: Things You Need to Know Before Applying for a Personal Loan

If you want to apply for an ANZ Personal Loan 2019, you need to meet some criteria. According to ANZ’s official website, these are the criteria that you must have:

  • Be at least 18 years old
  • Minimum income of $15,000 per annum
  • Be an Australian citizen, permanent resident or have a valid visa

Variable Rate Loans for ANZ Personal Loan 2019:

If you choose to have ANZ’s variable rate personal loan, your interest rate is %15,99 p.a. and the comparison rate is %16,84 p.a. For additional fees, ANZ says the customers must pay $150 loan approval fee as a one-off payment. In addition to that, the bank charges customers $10 monthly for loan administration charge, which will be paid at the end of each quarter. If you were late to make a payment on time, you should pay $20 late payment fee to the bank.

Fixed Rate Loans for ANZ Personal Loan 2019:

For ANZ Personal Loan 2019’s fixed rate loan plan, your interest rate is currently set at %12,45 p.a. This figure will up to %13,32 p.a. if you want to look at a comparison rate.

Just like the variable rate personal loan, you need to pay $150 loan approval fee as a one-off payment and bank will charge you $10 per month under the name of a loan administration charge.

If you want to buy a new or used car, you can use this ANZ Personal Loan 2019. Also, if you want to travel but you are short of savings, you can apply for this loan program as well. Other key areas that people are using personal loans for are wedding funding, debt consolidation, and other daily activities.

Your personal loan money must between $4000 and $50,000 and similar to the other Australian banks, you need to repay the money in between one to seven years. Bank also warns that these rates are subject to change.

Things to Take Care of While Applying for ANZ Personal Loan 2019

Now that we have given the basic details of a typical ANZ Personal Loan 2019, you would be keen to go in for the right loan to fulfill your requirement. But you must be careful of a few things that can help your loan application get approved fast. This also ensures that the ANZ Personal Loan 2019 actually helps you. Here are a few things you should keep in mind:

1. Maintain a Good Credit Score:

Every country has its own credit scoring system. Under this, institutions and individuals are graded for their credit quality. Banks and institutions which offer Australia Personal Loan 2019 usually refer to the Equifax score. You need to do everything necessary to keep this score as high as possible. It is good to know what the things that could reduce it are. These are things like late payments on loan EMIs, credit card payment defaults and earlier cases of bank rejection of the unsecured loan.

2. Borrow Only What You Need:

Getting a lump sum amount of money through an ANZ Personal Loan 2019 is always nice. But remember that you need to repay it too. So if you are eligible for an ANZ Personal Loan 2019 of $10000 but need only $8000, then make sure you don’t take a dollar more than you need. The extra money you get will be spent easily. But the repayment of the extra $2000 will throw your plans haywire.

3. Choose Interest Type Smartly:

You need to decide which type of interest calculation system works for you. We spoke above about the fixed rate personal loan and variable rate personal loan. Your bank will tell you the rates for both at any particular time, but the implications of your choice won’t be clear then. The implication of the type of rate would depend on the economy, and not just on you or your lender. So if you foresee a falling interest rate regime, for instance, only then would a floating rate make sense.

4. Read The Fine Print Too:

Many people applying for an ANZ Personal Loan 2019 make the mistake of only looking at the rate of interest. You should be aware that there are several other fees that would be charged from you. Some of them would be by default, like processing fee, while some others would be contingent upon your action. One example is a prepayment fee or a fee for asking for a statement of the loan.

5. Approval Time:

Another thing that many people often miss to check is the committed turnaround time. Depending on the process, different banks commit different completion times for an ANZ Personal Loan 2019. If you have lots of time in hand, then you can ignore the time taken. But if you are in a hurry, then that is the first thing you should check. In such situations, the time taken is even more important than the rate of interest.

6. Eligibility and Documentation:

Last, but not the least, is the eligibility criteria and documentation. You must remember that an ANZ Personal Loan 2019 is an unsecured loan. So the bank can have several selection criteria to ensure its own security. You need to check if you qualify on those counts. You must also check whether you have all the documents that the lender requires.

How to Improve Your Chances of Getting Approval for an ANZ Personal Loan 2019?

We did speak earlier on in this post about how an ANZ Personal Loan 2019 is a completely unsecured loan. This means that you would not be required to keep any collateral with the lending bank. This makes the bank’s situation quite risky. If a borrower defaults, there is very little that the bank can do immediately to recover the money. That is why banks take a lot of care before approving an ANZ Personal Loan 2019 to an applicant.

The credit score is one way Australian banks assess the repayment capacity (and willingness) of a personal loan applicant. This is a dynamic score that everyone is allocated. It increases with good credit behavior. But it decreases with defaults, delays, etc on your part. There is complete information sharing between all Australian banks. Therefore all good and bad you do with one bank gets immediately shared with all other banks. Here are a few things you can do to improve your credit score. This will also improve your chances of getting approved before you apply for an ANZ Personal Loan 2019.

1. Reduce Exposure to Loans and Cards:

If you are a credit card user, then you would know it is an unsecured loan as well. In case you have a number of active credit cards, it might work to your disadvantage. The banks might wonder why you need another unsecured loan when you have access to unsecured funds anyway. Try surrendering those credit cards you never use, before you apply for a personal loan. If you already have an outstanding loan, try to close it completely before applying for a new one.

2. Apply for ANZ Personal Loan 2019 Only to Select Few Banks, Not All:

Some people think that it is safer to apply to all possible banks when they need a personal loan. You must be aware that each such application hurts your credit score. Every bank mandatorily checks your credit history when you apply. This gets recorded on your score and is usually counted as a negative score. Try not to leave so many ‘footprints’ on your credit score when you will take the loan from just one bank.

2. Create Credit History If You Don’t Have One:

One quandary many people face is that they have no credit score at all. This is simply because they have never taken any loan before. This should be neither good nor bad news. But banks usually penalize you for not having a credit score. You need to look for banks that would give you a loan against a fixed deposit of money. And then repay the loan on time or before time to build a credit score. Someone without a credit score might ask, ‘if I had money for a fixed deposit, why would I need a loan?’ If that is the case with you then you might consider applying for a credit card instead. These are usually approved based on salaries or bank balances. Use the card on a regular basis and repay before the due date. This will help build your credit score.

Bottom Lines:

The attractive thing about a personal loan is that there is no collateral involved. Also, banks won’t usually ask for the end use of funds, as long as you fulfill the eligibility criteria. That is why you can use an ANZ Personal Loan 2019 for a variety of purposes. You just need to keep some things in mind before applying. Also, there are some perfectly legal steps you can take in order to improve your chances of getting your loan application approved easily.

How to Choose the Cheapest Car Insurance in Australia (2019)

Getting the cheapest car insurance available solves two problems. First, if you have any kind of vehicle, you have to have insurance anyway. And second, it minimizes the cost.Because let’s face it – car insurance can be expensive.But it doesn’t have to be. And seeing as you have to pay for it anyway, it makes sense to pay as little as possible.

What Affects the Cost?

Before we start looking into ways to get the cheapest car insurance, it helps to know how companies set premiums.Your age and your gender are the two biggest factors here. The older you are and the longer you’ve been driving for the lower your premiums. But if you’re a man, you can expect to pay more than a woman.The age thing makes sense because more experience means you’re less likely to need a payout. Or at least, it usually does.But what about the gender gap?That’s because men tend to drive certain types of cars. Yes, the type of car you drive affects the cost of your insurance too! But it’s also because of risk. Women tend to drive and park more responsibly, which is a huge factor for insurance companies.But that doesn’t mean that you can’t get the cheapest car insurance just because you’re a man. Or because you’re younger, for that matter.You just need to know how to reduce costs.

Our Tips for Getting the Cheapest Car Insurance

We’ve put together a list of tips to help you get the cheapest car insurance. Keep these things in mind while comparing quotes and you’re sure to save some money.Also, take some time to read our guide on Understanding Insurance!

1. Car Size and Premium Size

The smaller and cheaper your car is, the lower your premiums will be.

2. Nominating Drivers Can Help You Get Cheaper Car Insurance (But Not Always)

Nominating a driver who is older than 25 and has a good driving record can sometimes lower costs. But be careful with nominations, because it can just as easily make things more expensive.

3. Restricted Access – No Under 25s

We’ve all been there: 17 years old and wanting to borrow mom or dad’s car for the weekend. But restricting the people allowed to drive your car can help lower your premiums. And remember – if any of the drivers are under 25, the insurance will cost more.

4. Don’t Use Your Car Much?

It can be a lot cheaper to choose “Pay As You Drive” car insurance then.

5. Self-Braking Cars Get the Cheapest Insurance

Not always true, but if you have a self-braking car, your premiums can cost 10% to 15% less.

6. Excesses

Excesses can make your car insurance cheaper or more expensive. Raising your excess limit will drop your premiums. That’s because you’ll be paying more and the insurance company will pay out less. But be careful going the co-payment route. After all, you’ll be paying more if something happens.

7. The Safety Factor

If your car has an alarm and/or immobilizer, and you keep it parked in a locked garage overnight, you’ll pay less for insurance.

8. Discounts

There are a few discount options to keep in mind when you’re looking for the cheapest car insurance.First, if you and your partner share a car and you both have good driving records, your insurance will cost less. And that’s especially true if you can ensure it under a woman’s name.Second, look for an insurance company that offers a No Claims Bonus Discount. That way, the better you drive, the more money you’ll get back.Third, if you have more than one policy with a company, then they might offer you a discount.Fourth, eco-friendly cars can sometimes qualify you for a discount.And finally, if you buy your insurance online, you can sometimes get it cheaper too.

How to Get the Cheapest Car Insurance if You’re Under 25

You probably noticed that some of the tips we shared above include being older than 25. But what if you’re under 25?Earlier, we said that it’s still possible to get good car insurance without having to pay too much. So here are some tips just for you! 

1. Choosing the Right Car for the Cheapest Car Insurance

The type of car you drive is going to be a factor in how much you pay for your insurance. So choosing the right type of car isn’t only going to save you money on the purchase price, but on your insurance premiums too.For example, don’t buy a sports car or any other type of high-performance vehicle. The more powerful your engine and the more modifications you add, the higher your premiums are going to be too. You should also check the ANCAP safety rating, how likely your type of car is to be stolen, and how much the parts cost to replace. All these things affect your premiums, so being smart about it will help you find the cheapest car insurance. 

2. Take a Defensive Driving Course and Keep a Good Driving Record

Taking a defensive driving course and having a good driving record will lower your premiums too. That’s because it shows you’re a responsible driver and less likely to need to file a claim.A good driving record takes time to build and maintain, though. So this will only help you cut costs in the long-run rather than immediately. But if you take a defensive driving course, it will help you get there quicker. 

3. Increase Your Excess

You need to be very careful with this, because the higher your excess, the more you pay out-of-pocket. But it can lower your premiums too. So choose a higher but affordable excess amount to get the cheapest car insurance.

How to Choose the Cheapest Travel Insurance in Australia (2019)

Travel insurance is something no one likes having to pay for. But if you’re planning on traveling, it’s something you need to have. However, that doesn’t mean it should cost an arm and a leg. Luckily, there are options for finding the cheapest travel insurance.

Why You Want the Cheapest Travel Insurance

You need to have travel insurance because it will help you spend less money in the long run. That sounds strange, but it’s true. You’ll spend a lot more money on an emergency if you don’t have travel insurance.But of course, you don’t want to spend too much. And that’s why you want the cheapest travel insurance you can get. As long as it covers everything you need to be covered, that’s okay! We all want to cut costs if possible.To help you with that, we’ve put together a list of the best tips on how to find the cheapest travel insurance. And if you’re confused by any of the words insurance companies use, take a look at our guide to Understanding Insurance!

1. Check What is and isn’t Covered

Your policy should cover any medical expenses that come up while traveling. But if you have ongoing medical treatment, you should check to make sure it’s also covered.

2. What Else Might Not Be Covered by the Cheapest Travel Insurance?

There are a few things that some of the cheapest travel insurance might not cover. For example, some sports and other types of activities. You also need to be careful about traveling to high-risk countries.And if you have a preexisting medical condition, always tell your insurance company. Otherwise, they can refuse to pay for anything!

3. What About Drugs and Alcohol?

This is something you need to be very careful about because it can affect your claims. A lot of insurance policies won’t pay if something happened after you’ve been drinking. And even if you were “spiked,” having any kind of drugs in your system can have the same result. It’s always better to be safe rather than sorry, so pay attention to this part of the contract!

4. Be Smart About Exclusions

All insurance policies are going to have exclusions, but you don’t want everything left out. So you should always be careful when choosing an insurance policy. Things like severe weather conditions, war, and terrorist acts especially. They can make things difficult when traveling. And if they’re excluded from your travel insurance, then they can be very expensive too.So it’s a smart idea to choose the cheapest travel insurance with the least exclusions.

5. Requirements and Payout Terms

Another thing you should pay attention to is the requirements. What type of documents do you need to give and when are they due? If you need to file a claim, this information is going to be very important.

6. Premiums and Upgrades

Of course, you want as much cover as possible. But you also want the cheapest travel insurance possible. So when you’ve found a few options you like, compare the premiums. And that means looking at the available upgrades/downgrades too.It’s always a good idea to ensure your baggage too, so pay attention to the added cost. Because sometimes, an upgraded policy that includes baggage is actually cheaper!

7. Take Advantage of Group Policies and Family Discounts for the Cheapest Travel Insurance

Whether you’re traveling for business or for pleasure, if you’re in a group, it’s cheaper to get a group policy. That way everyone can pool their money together and save.And it’s the same for families. Not all insurance companies do this, but some of the best will cover children for free.But be careful with group policies. People over 65 pay higher premiums and insurance companies set their rates by the oldest person in the group.

8. Always Buy Direct and Online

You can buy travel insurance through agencies and airlines. But they charge more. So if you want to save money, buy direct from the insurance company instead. And you can usually save even more by doing so online.

Other Things to Consider When Looking for the Cheapest Travel Insurance

Okay, so you’ve gone through our list and have narrowed down your options to two or three companies. But you can’t just throw a dart and decide which one to choose! And it’s not always as easy as simply picking the cheapest travel insurance either.Instead, there are a few more things you should think about to help you make a better decision. 

1. Should You Get an Annual Policy or will Single-Trip Cover be Enough?

It can be very tempting to only think about costs in the short-term, but if you should always think long-term instead. That’s because short-term savings can sometimes end up leading you to spend more in the long run!So while you’re looking for the cheapest travel insurance, think carefully about your travel habits. If you’re only going to be traveling this one time, then a single-trip policy is going to be the best option for you. But if you travel a lot in the year, for business and pleasure, then an annual policy will help you save money.However, you should look at the annual policy’s terms and conditions very carefully. That’s because they have a limit on the amount of time you spend on each trip! 

2. Do You Qualify for Loyalty Benefits?

If you already have other types of insurance (and we hope you do!), then you might enjoy customer loyalty benefits. Sometimes, its customer loyalty discounts make for an unexpectedly cheaper option. So keep that in mind when you’re looking for the cheapest travel insurance. 

3. Can You Get the Cheapest Travel Insurance Through Your Credit Card?

These days, you’ll often find that travel insurance is an added benefit with some credit cards. So you should also talk to your bank about this option.But try to keep this as an emergency option, because these aren’t the best travel insurance policies. There’s a lot of exclusions, and the more exclusions there are, the more you end up paying if something does happen.

How to Choose the Cheapest Private Health Insurance in Australia (2019)

Finding the cheapest private health insurance is on everyone’s minds right now. After all, the cost of premiums has gone up again in April 2019. But health insurance is still one of the four insurance types everyone needs to have. And government reforms means that most providers offer fewer benefits.That makes it a little more stressful, especially if you have a limited budget.However, you can get the cheapest private health insurance without sacrificing quality. And we’re going to show you how.

How to Find the Cheapest Private Health Insurance

We’ve put together a checklist to help you – and it’s been updated for 2019. Keep this list in mind while you’re looking for private health insurance. And don’t worry if some of the words confuse you. We have a great guide on Understanding Insurance!

1. What Type of Health Insurance do You need?

If you want the best, cheapest private health insurance, then you have to know what type you need first. Do you only need a hospital cover, extras cover, or both?By the way, you don’t have to get hospital cover and extras cover from the same insurance company! Compare different plans and find the best option for you. If that means using two different providers, then go for it.

2. Pay Attention to Annual Limits for the Cheapest Private Health Insurance

Annual limits (or the “aggregate”, as they’re also called) tell you how much your provider will pay towards specific services. And that leads us to number 3…

3. Co-Payments

Lower premiums usually mean lower limits. And that means you’ll probably have to make co-payments. This is the amount of money that you agree to pay out-of-pocket.

4. Take a Look at Reviews and Market Share

Don’t jump at the cheapest private health insurance you find! Pay attention to what clients are saying – the good and the bad.Deciding on an insurance company should also mean thinking about its market share. If they have a bigger client base, their policies are probably going to be better too. And that brings us to our next point…

5. The Cheapest Health Insurance and their Exclusions

As bad as it sounds, you’re going to have to give something up to get lower premiums. To be fair, that’s the same whether you’re looking for the cheapest or even only the second-tier options. But you need to make sure the policy you choose includes all the benefits you need.

6. What is the Waiting Periods?

This is something a lot of people forget about when looking for the cheapest private health insurance. But your waiting period tells you how long you have to wait before you can start making any claims. And that can be a very important part of choosing the right policy!

7. Premiums Are Important (But Not the First Thing You Should Look At!)

Because of the exclusions, it’s a good idea to look at the benefits first. Next, you should think about the waiting periods too. Once you’ve found a few options that cover everything you need, you can start looking at the price tag.

Asking the Right Questions When Looking for the Cheapest Private Health Insurance

Even with our 7-point checklist, it can be a little overwhelming trying to compare options. But don’t worry – all you need to do is ask the right questions! And we’ve got them listed for you here too. 

1. Do You Really Need a New Private Health Insurance Policy?

If you already have private health insurance, then you need to think about whether your needs have changed. That’s because upgrading will include a waiting period. So if your needs haven’t really changed, then you should probably stick with what you have.But what if you’re looking for the cheapest private health insurance and you find one that costs less but offers the same benefits? The waiting period is the least of your worries then!

2. What Kind of Lover Are You Looking for with the Cheapest Private Health Insurance?

This goes back to point 1 in our checklist above. As a quick reminder, you need to ask whether you need hospital cover, extras cover, or both.If you’re confused about what that means, then don’t worry!Hospital cover will pay for some or all of the treatments you receive in the hospital. Extras cover will help you pay for any treatments outside of a hospital, like psychology or optical services. And the combined cover will help you with both types.So it’s definitely important that you think about what kind of cover you really need. Otherwise, you could end up paying more than you should. That’s because you’re either over-insured or your policy doesn’t cover something you need!

3. Who Does Your Policy Need to Cover?

Different people need different policies, so you should think about this very carefully. The cheapest private health insurance will have some limits on who you can and cannot cover. So ask yourself whether you only need to cover yourself, your partner, or your family too. And if you’re a single parent, you can usually get a policy designed especially for you.

How to Choose the Cheapest Life Insurance in Australia (2019)

We get it – you want to choose the cheapest life insurance without compromising on quality. After all, life insurance is 1 of 4 insurance types everyone should have. But that shouldn’t mean spending buckets of money.It’s possible to find great life insurance at a good price. And we’re going to show you how.

10 Tips on Finding the Cheapest Life Insurance

Here are the 10 best tips we’d like to share with you.Not sure what some of the words we use mean? Check out our guide on Understanding Insurance and learn them all!

1. Apply as Young as Possible

Life insurance companies think about 2 things when deciding on how much to charge you. First, they look at how old you are. Then, they consider your mobility.What that means is the older you are when applying, the higher your premiums will be. And the healthier you are, the lower they’ll be. So it’s a very good idea to apply as young as possible to get the cheapest life insurance.

2. Compare Different Providers for the Cheapest Life Insurance

You probably know by now that there are lots of insurance companies in Australia. But instead of jumping at the first one that looks good, you should compare them properly. This is very important because sometimes companies charge 150% more than others do.

3. Choose Level Premiums Instead of Stepped Premiums

There are 2 types of premiums: level and stepped. If you only need life insurance short-term, then stepped premiums are better. But if you’re looking for the cheapest life insurance-long-term, you should choose level premiums.

4. Don’t Smoke if You Want the Cheapest Life Insurance

Did you know that smokers can pay up to 50% more than non-smokers? Even if you were a smoker and you quit, you can get cheaper premiums!

5. Live Healthy and Get Discounted Premiums

This is relatively new for life insurance, but you can get up to a 20% discount on your premiums. All you need to do is live a healthy lifestyle!

6. Choose Yearly Premiums for the Cheapest Insurance

Providers sometimes charge 5% to 8% more if you pay monthly. That means you save money by choosing yearly premiums instead.

7. 15% Tax Credit

You can also get a 15% tax credit by funding a retail policy with your super fund.

8. Discounts on Multiple Policies

It’s great if you’re looking for the cheapest life insurance for you and your partner. That’s because when you open more than 1 policy at the same time, you can both get a 10% discount!

9. Special Discounts

Remember we said you should have at least 4 types of insurance? If you can open them all using the same policy, you’ll get special discounts.

10. Skip the Policy Fees

Some providers don’t charge any policy fees anymore, and no policy fees mean cheaper premiums. Clearview Life Solutions and MLC Insurance are 2 examples.

Stop and Think Before Committing to the Cheapest Life Insurance

Cheap is cheap – and the cheapest life insurance isn’t the best option. Even though you are trying to save money, you don’t want to end up with poor insurance cover.Remember point 2 above? Comparing different options will help you get the best possible policy instead of just the cheapest. It might mean spending a little bit more, but it will be worth it. And it won’t have to cost a lot more!So here are 5 more tips to help you get the best option.

1. What Are Your Insurance Needs?

If you’re opening a life insurance policy – or any other type of insurance – it’s always a smart move to think about what you really need. After all, you don’t want inadequate cover! So pay careful attention to what benefits the policy includes and excludes. This will also help you save money by helping you make sure you don’t pay for benefits you don’t need.

2. What Do the Company’s Finances Look Like?

You’re looking for the cheapest life insurance that will actually pay. So it’s a good idea to spend some time researching the company’s financial history. And an easy way to do that is to read reviews.What you’re looking for is information on how likely they are to pay out claims. If the company has a reputation of taking forever to pay, then their financials are likely to be shaky. And that’s not a company you want to open a policy with.

3. Keep Reading Those Reviews on the Cheapest Life Insurance

Another thing review will tell you is what their customer service is like. Getting cheaper insurance shouldn’t mean having to sit through a terrible experience every time you need to file a claim. So keep an eye out for good and bad reviews.

4. Think About Everyone, Not Just Yourself, When Looking for the Cheapest Life Insurance

Obviously, you’re the one getting the life insurance. But that doesn’t mean you shouldn’t be thinking about the rest of your family as well.Instead, you need to think about how your life insurance affects them. For example, if something happens to you, how will the company treat your family?

5. Keep Asking Questions

Okay, so you’ve narrowed your options down to one or two of the cheapest life insurance policies. So you’re ready to apply online now, right?Before you do, get into contact with their support staff and ask questions. Don’t be shy – ask about anything and everything you’re not sure of yet. Because the better you understand their policies, the better you’ll be able to make your final choice.

How to Get an ANZ Personal Loan 2019?

Let’s be honest, all of us need some sort of personal loans to cover some of our needs but we need to understand first how and where we can get them. To get a personal loan in Australia could be easily one of the banks that provides these services is ANZ Personal Loan 2019. Before we explain how to get a personal loan from one of the largest banks in this country, let’s start with the basics.

What Exactly is a Personal Loan?

Personal loans are a type of installment. And this concept is pretty easy to understand. You borrow money from the bank and you will pay back to the bank with the addition of interest rates. These rates will vary from country to country and also banks operating in the same country, have different policies about that.

Once you got the money from the bank, you must agree on a payment schedule. This could be monthly, weekly, fortnightly or daily. If you are a loyal customer of the bank, then they will create you a specific type of payment schedule also.

Payback duration will likely to be between 12 to 84 months and the same can be said about ANZ Personal Loan 2019. With low interest rates, to get a loan from the bank might make sense but you need to be careful before making a decision.

Where Can You Get a Personal Loan?

The banks are the obvious option the get a personal loan but it is safe to say that they are not the only option available for you to consider. Other companies also offer a personal loan. Companies like credit unions, consumer finance and lenders (both online and offline) offer its customers a personal loan and you need to pick what is most suitable for you.

Before we move on to the other chapter, we feel we have to make a warning for you, our readers. Before you get an ANZ Personal Loan 2019, you have to be careful against the scammers. Many people on the internet claiming they are working for the bank they will try to rob your money. So be careful about that and double-check everything you are making online. Don’t put your credit card numbers and other vital information because it will come back and hurt you.

And if you think you are facing with the illegal lender, please inform the relevant government bodies about that so they can take a look at the issue.

Is it Good For Me to Get an ANZ Personal Loan 2019?

Of course. But you have to consider what you need. If you want to buy a car, you need to get money in your own need. If your work could be handled by getting $5000 from the bank, don’t get extra money on a loan. Because you need to pay a lot more if you do that.

If you are eligible to get a loan from the ANZ, then you should choose how much money you are looking to borrow from the bank. ANZ Personal Loan 2019 stated that customers could get money between $4000 and $50000.

The Terms of Getting a Loan From the ANZ Personal Loan 2019

If you want to apply for an ANZ Personal Loan 2019, you need to meet some criteria. According to ANZ’s official website, these are the criteria that you must have:
– Be at least 18 years old
– Minimum income of $15,000 per annum
– Be an Australian citizen, permanent resident or have a valid visa

If you choose to have ANZ’s variable rate personal loan, your interest rate is %15,99 p.a. and the comparison rate is %16,84 p.a. For additional fees, ANZ says the customers must pay a $150 loan approval fee as a one-off payment. In addition to that, the bank charges customers $10 monthly for a loan administration charge, which will be paid at the end of each quarter. If you were late to make a payment on time, you should pay a $20 late payment fee to the bank.

Interest Rates

For ANZ Personal Loan 2019’s fixed-rate loan plan, your interest rate is currently set at %12,45 p.a. This figure will up to %13,32 p.a. if you want to look at a comparison rate.

Just like the variable rate personal loan, you need to pay a $150 loan approval fee as a one-off payment and the bank will charge you $10 per month under the name of a loan administration charge.

If you want to buy a new or used car, you can use this ANZ Personal Loan 2019. Also, if you want to travel but you are short of savings, you can apply for this loan program as well. Other key areas that people are using personal loans are listed: They are wedding funding, debt consolidation, and other daily activities.

Your personal loan money must between $4000 and $50,000. Similar to the other Australian banks, you need to repay the money in between one to seven years. Bank also warns that these rates are subject to change.

Be Careful When Spending Your Money

All is good and you now have your money. You might think getting a loan from the bank is the hardest part, but it is not. Spending this money wisely is the most important and often overlooked thing. A lot of people in the past struggled to pay back the money to the bank. So you need to be careful about that matter.

ANZ Personal Loan 2019 is a good choice to get money to cover your needs. But you need to have a great plan in mind in order to pay back the money to the bank. If you spend your money carefully you will have no issues to pay the bank back. But if you tend to overlook and overspend, then you will join the unwanted lists of many banks. If that happens, you will struggle to loan money from the banks for the rest of your life.

As we said before, spending money wisely is the most important part of all. We hope you will take this into your mind. Before applying a bank to get a personal loan to cover your needs.

What is a decent credit score in Australia?

Everything you need to know what is a decent credit score in Australia.

Who sets the bar on exactly what is a decent credit score in Australia? An estimate of Over 90% in all the lending decisions around the world is dependent on the FICO Scoring Model. This is similar to happenings in Australia, USA, India, and Germany.

So a credit score refers to a three digit number reflecting on your chances as a debtor to pay back credit while lenders, on the other hand, are credit card companies and banks. They are institutions that take a look at your credit file then calculate your credit score, therefore, they use this credit score to calculate the level of risk they take in lending you credit.

Equally important is that most of these credit scores have varied score ranges and it is estimated that the average credit score familiar to most of the consumers is of the range of between 300 to around 850.

Types of credit scores.

So far, there are four existant credit score agencies: TransUnion, Experian, Fico, and Equifax. Importantly, the government introduced Equifax as the most popular agency in Australia.

In addition, each of these credit score agencies has got a different range. The top score for TransUnion, Experian as well as Equifax is at a range of 800 or 850. However, this range is not constant as it keeps on changing similar to Fico credit agency whose there top score is at 900 points. All these scores begin at 250 or 300 meaning there are no zeros in scores.

Below is a summary to exactly what is a decent credit score in Australia. 

Credit institutions in Australia release loans based on a required specific credit score. The average decent credit score in VedaScore currently termed at Equifax Score ranges at between 250 to 1200, therefore, a safe credit score is that of between 600 to 725 while a good score ranges in between 720 to 832 and most importantly a perfect score falls in between the 800 & 1200 mark.

Importantly it is free to check out your credit score through the National Credit Reporting Body (CRB) lists where the government passes the list on its website at Equifax Australia.

Generally, a decent credit score in Australia is of a credit score of 400 and below indicating that you are in the credit hell while 900 points are utterly perfect.


Ways to secure credit. 

Firstly, before being given a loan many factors are considered for you to secure your loan. The least important of all factors considered is your credit score as people don’t secure their loans even if they are loaded with millions in their bank accounts.

You don’t get loans as you want. You cannot quote “only” a $9 million loan to grow your business. A good example is a wine seller needs more money for him to expand his business yet the wine seller cannot be able to convince any bank or credit card institution to lend him even a dollar.

the secret is in all that you say in the interview as well as other factors in consideration.

Also Read: How to choose the cheapest travel insurance in Australia 2019

Factors affecting what a decent credit score in Australia is:

There are some main factors that affect what a decent credit score in Australia is:x

      Firstly the user’s history of Credit     Repayment. This is considered to be the most important factor affecting what a decent credit score in Australia is. It makes up to roughly a third of your score is your history in credit repayments. It is how often you make your credit repayments and on time. The best thing you can do to your credit score is to make timely payments to all your loan obligations and credits.

Second is pay your rate of utilizing credit – 

It is considered to be how much of the given credit you are utilizing. Before applying for a credit  ensure that you have paid off  all your balances in full and your utilization is around minimal

Third is your credit Mix: This term is used to describe the mix of secured and unsecured accounts in your credit file. Basically, it is advisable not to open too many credit cards since too many unsecured exposures can really hurt and affect your score. Ensure that you secure your unsecured exposures.

The two other limitation of decent credit score in Australia are:

The age of the credit: Credit age is defined as the age of the age of your account from when it is opened. The more the experience you have in managing your credits, the higher your credit score gets. It is advisable to retain your old credit accounts and keep them open.

Specific enquiries for securing a credit : Credit enquiry can be plainly described to as your hunger for new credit. Do not seek for new loans and credit unless you really want it since every time you enquire for a loan, banks take a look you up approach on the credit bureaus and leave your footprints. Don’t shop for loans. Unless you really are in need of it or dying. You might get away with it.


Ways to improve your credit scores in Australia. 

Your competence in paying credit builds your credit score. You can improve your credit score through the following ways:

  • First, pay all old debts present on your credit report.
  • Furthermore, correct all errors on your credit card report.
  • Try to increase limits to your credit
  • Pay all your bills on time.
  • Try to secure automatic payments.
  • Additionally, try to use more of your credit
  • Open a more secured credit card account.
  • Try to retain a low balance on your credit card.
  • Finally, monitor and again ask for a copy of your credit score.

Read Also: Do I qualify for a mortgage loan in Australia

PAY ALL EXISTING OLD DEBTS ON YOUR CREDIT REPORT. 

You can’t up your score if you have no credit but a good thing to your credit card report is clearing an old debt.

ENSURE YOU CORRECT ALL ERRORS ON YOUR CREDIT CARD REPORT. 

Check on your reports regularly. This is to ensure that all of your information is correct What it but to credit bureaus in case you notice any errors on your credit card report. Errors might include someone else’s debt information present in our file, debts you didn’t secure, fully paid debts but the incorrect history of payments.

EXTEND THE LIMITS TO YOUR CREDIT.

In the event that you want a credit, increasing the limits to your credit can have a number of significant benefits. Unless you are able to manage your credit wisely, this mainly lowers your overall credit utilization as well as it increases your score provided you maintain low credit utilization and pay debts on time.

PAY YOUR BILLS ON TIME. 

Punctuality is key in life and this applies to credit payment. If you make late payments on your credit cards, your score will take a big hit.

TRY SETTING  UP AUTOMATIC PAYMENT METHODS. 

In the event that your credit exceeds deadlines to payment then consider approaching automatic payment procedures for those debts. This way it is not easy to forget to pay your bills on time.

TRY TO USE MORE OF YOUR CREDIT. 

It seems uniquely counterintuitive, but a sure way to fix your credit score is by using your credit often. Your capacity to pay and use credit creates opportunities for you to secure credit and shows your abilities to manage your finances well.

Also Read: Can you get credit for Non-citizen of Australia

OPEN A MORE SECURED CREDIT CARD ACCOUNT. 

A secured card is perfect for someone who has no credit history or has a poor credit score. Most of the lending firms compare how much is in your credit card. This is in terms of loans and how much your loan you need.

For all these reasons, one is able to secure credit in case he/she applies for one.

The conclusion to what is a decent credit score in Australia.

Lastly, your three-digit credit score is the most important number in your report. Mainly because you will be able to get a bigger picture of the health of your credit. Therefore, having a good knowledge of your credit gives you a leg up when improving your credit scores as you can see eases the stress of applying for loans even with a low credit score.


References.

https://www.mymoneykarma.com/credit-score/cibil/cibil-score/cibil-score.html?utmsrc=CREDITSCOREBASICS

https://www.annualcreditreport.com/foreignLocation.action

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Get a Loan for Business from ANZ with Bad Credit

Do you have bad credit? Have you been wondering how to get a loan for business from ANZ? One of the most difficult things to achieve is getting a business loan with bad credit. This is especially so with the high street lenders.

Banks, in particular, are highly averse to risk and have come up with very strict lending criteria. In fact, they are so strict that most small businesses will fail to meet them. This makes it difficult for SMEs to secure loans.

Many people have no idea how to get a loan with a bad credit score. When you have a poor credit rating, the chances of getting a loan for SMEs is brought down to almost zero.

Almost…

The collateral

One of the main things that banks will look for before advancing a loan is the collateral that you have in your business. They also check the amount of capital.

Do not despair!

If you have bad credit, there is the option of taking an unsecured business loan.

What is an unsecured business loan?

Simply put, this is a type of loan where you don’t have to offer security in the form of assets in order to get the loan.

There are plenty of lenders who offer unsecured business loans and each has its own criteria and risk tolerance.

If you have bad credit but your business is doing well, you still have a good chance to get a loan for business from ANZ, one of the best lenders out there.

ANZ has been around for over 175 years and offers its services to clients not just in Australia and New Zealand. They are also in Europe, the Pacific region, the Middle East as well as the Americas.

By getting in contact with ANZ, you can sit down and agree on tailor-made business solutions that are designed to cater to your business needs. You can get a payment plan which is much more flexible and is able to match your budget and your individual situation.

What you will get with an ANZ business loan

If you’ve been thinking of expanding your business or adding equipment, the ANZ business loan can help you.

Most other lenders will offer strict lending rules and criteria. ANZ offers more personalized and flexible options.  Businesses can choose between secured and unsecured loans.

The minimum loan amount

The minimum loan that you can apply for with ANZ is $10,000. Terms will depend on whether you prefer a fixed term or a variable term business loan.

With the fixed-term business loans, you can get up to 10 years of payment. The variable term loans, on the other hand, will offer you up to 15 years of payment.

Keep in mind that with the unsecured business loans, the interest is significantly higher compared to the secured loans.

Methods of payment

With ANZ business loans, you can also choose between paying the principal amount and the interest or opt for paying just the interest and a final balloon figure of 80% of the amount of the loan at the end of the term.

You also have the choice of paying the variable rate loans weekly, bi-weekly, monthly, monthly, quarterly, half-yearly, or yearly. As for the fixed-rate loans, you can pay monthly, quarterly, half-yearly or yearly.

Costs of getting a loan with ANZ

When applying for the loan, there are fees that you are going to have to pay.

  • The loan approval fee
  • A loan administration charge that will depend on how much money you apply for
  • $300 Early repayment fee
  • Renegotiate fee
  • For the fix rate option, a locked rate fee of $600 plus a certain percentage of the loan
  • Forward start fee

Even with your bad credit, there are a few criteria that you will need to meet in order to apply for a loan.

The first is you need to be at least 18 years old. You should also not have applied for bankruptcy before and you need to have registered with ABN or ACN.

How to increase the chances of getting a business loan with bad credit

ANZ may be one of the best options for securing your business loan with bad credit, but there are a few things that you can do to ensure you stand the best chance of acquiring the loan. Make sure that first, you understand your Equifax score.

  1. Prepare your case

The first thing that you need to make sure of before you decide to get a loan for business from ANZ,  is whether your business needs the loan in the first. If for example you are going through financial difficulty, and you want a loan to revive your business, you should keep in mind that a loan comes with extra costs.

Your business case should lay out in detail how you plan to use the loan for expansion or for support. Financial projections must be a part of your business case carefully stating the estimated amount of profit that you are expecting form injecting the cashback into the business.

Your business and revenue projections need to be realistic.

Note that if the funds are for growing your business, it will often take time to start seeing the profits and you will still need to pay for the loan and other costs such as warehouse costs.

A business loan may not always be the best thing and other important considerations that you will need to make include your tax and financial situation.

  1. Have all supporting documents

Coupled with having a great business case, you will need to support it with documents. With your bad credit score, the lender will be certain to take a closer look at your previous business and trading history.

The documents should show that you can meet the minimum turnover by the lender.

You should also provide the business bank statements for the last 6 months at least.

Don’t forget the credit sales or merchant statements for the last 6 months to provide evidence of average sales levels. This allows the lender to determine your capacity to pay back the loan.

And lastly, you will need to show identification documents.

Once you have all the supporting documents, you are now in the best position to get a loan for business from ANZ.  Go ahead and start the application process. At ANZ, you can either make a phone call, make an online inquiry or meet up with their business specialist.

Can you get a credit card as a non-citizen in Australia ?

Can I get a credit card if I am a non-citizen living in Australia? Yes, there are credit cards for non-citizens. Life is so difficult in today’s world if you don’t have one. Living in Australia today without a credit card is not easy. Everyone needs the convenience that comes with having these cards.

Can you get a Credit Card as a non-citizen in Australia?

Banks are at a greater risk of making losses if they give credit cards to people who may not pay back. They fear that non-residents can flee at any time. They always therefore try to do everything to reduce these risks. That is why there are many conditions for a non-citizen living in Australia to get a credit card. This is not to mean you are not able to get it.

Those who reside in Australia but are not citizens may face difficulties when trying to get credit cards.  This  is to ensure that those issuing the card do not go at a loss. You can still get credit cards through various banks. All you need is to find a bank that offers what you want.

What then are the requirements?

There are a number of conditions that you need to meet before you get a credit card.

  • Basic Personal Information

The first requirement is your basic personal information.  You must provide your date of birth and your full name. This identification will help in tracing you.

  •  Residency Status

The second condition is your the status of your residency. This is usually divided into three categories. You can either be a citizen of Australia, a permanent resident, or a temporary resident. You also have to provide the details of your visa. This helps the bank to go through your application in detail.

  • Residential Address

The third requirement is your residential address. You must provide a well known residential address in Australia. You also need to give the details of your working email address and a phone number. Without these details, you may not get a credit card.

  • Income Verification

Those who are permanently employed have an advantage. It is important that you meet this requirement. You will also need to provide information about your employer. Those who are self-employed will need to provide information about their accounts and tax details.

  • Financial Standing

Closely related to this is your financial standing. Banks that give credit cards set different financial requirements for non-citizens in Australia to get credit cards. You will need to provide details about your assets, monthly expenses and other liabilities.  In Australia, banks set a minimum income at $ 15,000 annually for permanent residents. For a non-permanent resident you will need $ 50,000.

All these requirements help to determine whether you are approved or not. These factors help the bank to predict your credit score. Banks use different criteria to give credit cards. This applies to both non-permanent and permanent residents.

What do credit card issuers require from non-citizens in Australia?

  • The Commonwealth Bank

Students and those who hold working visas are free to make applications for credit cards at Commonwealth Bank. This means a student or employee in Australia who is a non-citizen can easily get a credit card. The standard application process allows other temporary residents to also apply. You’ll however need a visa that is valid for a period of more than six months. This is from the start of the date of application. It means you are automatically disqualified if you are a holder of 417 or 462 visas.

Some banks also give Non-citizen in possession of 457 visas a priority. This is because this visa is held longer term by non-residents.

  • HSBC Australian Bank

HSBC Australian Bank allows non-permanent residents to apply for credit cards. However, there are some conditions that they have to meet. The requirements for qualification include having a contract in Australia lasting for at least two years. You will also need to hold a 482 visa. Your total earnings should be over $ 50,000 p.a.

As a temporary resident, you can apply for NAB Bank credit card. To succeed, you will need a three months banking history with the bank and possession of 482 visa.

  • Westpac Bank

Temporary residents can get credit cards in many ways from Westpac Bank. These include low interest rates and low annual fee. You can also get credit cards in terms of rewards and platinum card. The applicant will need to have 482 visa with a minimum of two years on it. You must complete this application in-branch. Minimum requirement incomes are not pegged on this credit card, but your income becomes the predictor of your credit limit.

At Westpac Bank, students are able to apply for Student Visa Credit Card. Only non-citizens in Australia with student visas can obtain it. You must be a full-time student at a recognized tertiary institution for you to get the card. If you work part-time, the bank calculates your credit limit based on your income.

Possessors of 482 visas can also apply for American Express credit card.

Other factors for non-citizens in Australia to get a credit card

These banks have minimum income requirements. This is due to the risks involved when dealing with non-permanent residents.  Non-permanent residents are considered likely to exit the country without notice. This measure is taken so that they are not able to leave before paying up their debt to the credit card issuer.  This would mean losses to the issuing bank.

Outstanding credit history is an important factor when dealing with non-permanent residents. You will have to sort this out when making an application. Your application will not be considered if you fail to do this.  This becomes more difficult if you lack credit history.

Credit cards play a critical role in today’s economies. They make purchases seamless. You can get credit cards as a non-citizen in Australia based on set conditions. You are advantaged if you have the 482 visa. It means you can’t exit before paying up your debt. A Non-citizen in Australia can get approval for a credit card. You only need to meet the set conditions.

Credit Card Balance Transfer In Australia Is Good Or Bad Idea?

Credit card balance transfer is of great importance if you want to manage your financial needs timely. Is it a good idea to do a balance transfer on a credit card in Australia?  Even though credit cards offer a lot of benefits to the users but they also come with debt. It is much easier to spend money but it is quite hard to pay it all back and if you have adopted the habit of spending a lot then paying back your credit card debt is going to be extra hard for you because you are not only going to need money but also will to pay it all back and not acquire any more of it. One of the best way to pay back your credit card debt it by transferring your balance to a new credit card so let us look at it in detail.

What is the best credit card balance transfer?

Credit card transfer balance is a way of transferring your existing credit card debt to your new credit card debt with better terms and conditions and a lower interest rate. The lower interest rate on the new credit card is only for a certain period of time thus you get a chance to pay it back without the interest occurring. In most cases, the interest rate is 0% for at least 12 months but after the end of the bonus, period revert rate is higher as compared to the previous credit card. Thus it is important that you pay the debt in the given grace period.

Revert rate is usually high. In Australia, the rate is somewhere close to 21% per year mostly 21.99%. Whereas as the 0% interest period lasts between 6 months to 26 months so you have to set a target to pay it all back in the time frame based on the type of credit card you choose.

Pros and Cons of Credit Card Balance Transfer

Just like everything else, credit card balance transfer also has certain pros and cons. These pros and cons allow you to decide whether or not you should choose the option or not. So let us look at them in detail so that you can make your decision rationally.

Pros

Some of the benefits that you will get from credit card balance transfer are;

1.      Low credit card interest rate

Transferring your credit card debt to a new credit card with better terms and a 0% interest rate for a certain period of time will decrease the amount of debt you original would have to pay if you use your existing credit card. This allows you to even pay your entire credit card debt.

2.      Credit card with better terms

There are certain hidden fees that are attached to your existing credit cards such as annual fee or the transferring fee. You can get rid of them by transferring your money to a new credit card with better terms and conditions such as lower annual fee charges and etc.

3.      Put your debt in one card

Most people have multiple credit cards. Keeping track of all of them can be hard and especially when it comes to paying the debt, one has to consider different interest rate thus you can consolidate all your debt on a single new credit card with 0% interest rate for a certain period and pay it gradually.

4.      Set a time frame for the payment of the debt

Some people find it hard to pay back the debt because they can’t get themselves to stay motivated. But when you get a new card and you know that there would be no interest for at least 6 months to 18 months then you will be motivated to pay back the debt in the given time frame.

Cons for  Australian Card Balance Transfer

Even though credit card balance transfer looks like an easy and effective way to pay off your credit card debt but there are certain drawbacks that are associated with it as well. So let us look at them as well before your transfer your debt.

1.      Higher interest rates

Only individuals that are determined can pay back their debt in the no interest time period. If you fail to pay back the debt then you will be charged a higher interest rate. In Australia, revert rate is 21.99% or 21.74% which is way higher so think rationally before making any decisions.

2.      Transfer fee

There are hidden fees that are attached to the balance transfer. You will have to pay the annual fee that ranges between $100 to %500 for most credit cards but along with that you also have to pay transfer fee which is 1% or 2% of the total amount that you will be transferring from other banks. So balance transfers are not entirely free.

3.      Negative effect on credit score

The worst drawback of credit card balance transfer is the negative effect on your credit cards core. Every time you transfer your debt from one card to another card, your credit score might get affected. It mostly depends on the new credit card you choose and the amount of credit that is available. Timely payments should solve the problem though.

4.      Chances of acquiring more debt

Having two credit cards instead of just one can encourage you to make more purchases especially if you are a shopaholic. So you will need to restrain from making any further purchases so that you don’t increase your credit card debt.

Conclusion for Credit Card Balance Transfer

There is no one answer to the question of whether it is a good idea to do a balance transfer on a credit card in Australia or not because the answer varies from person to person. If you are determined enough to pay back your debt in the low-interest rate period that you should most probably choose the option but if you are not sure then it is better to refrain from it because higher interest rates at the end can lead you to bankruptcy as well. Plus it also depends on the amount of debt you have to keep all the pros and cons in mind before you make a decision because it is going to affect your finances in the long run.