Personal Loan

6 posts

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.

Yorkshire Bank Personal Loan

As Brexit nearing are you looking personal loans for that cute sofa or a new Kitchen? Although there are plenty of institutions that grant Personal Loans, we suggest you stick with more well known brands. One of the most popular type of Personal loan is short-term loans for less than one year. You might be running into a temporary cash flow issue and need a quick fix. There can be many other reason’s for people like you to apply for loans : make a large purchase like a new kitchen, or a fancy porch, pay off your debts, or have some spare cash at your fingertips.

Make sure you know how much you can afford to pay back each month!

There are plenty of loan calculators online that you can utilize to calculate how much you will need to pay back each month.

Find out what are the Requirements to Apply for a Loan ?
One of our favorite financial institutions, Yorkshite Bank requires the following from you when applying for a Loan.

  • First of all, you need to prove your creditworthiness.
  • Proof of address, a recent utility bill, rental agreement or proof of ownership for your home address.
  • Proof of Identity, Passport or a Driver’s Licence would be fine,
  • Proof of Income, at least three wage slips to prove you have steady income.

All loans to be granted by Yorkshire Bank are subject to specific terms and conditions. The interest rate offered may differ from the Representative APR depending on your creditworthyness. For loans between £1,000 – £25,000 the maximum APR offered will be 29.9%. For loans between £25,001 – £35,000 the maximum APR offered will be 14.9%.

As an representative example, If an applicant decided to borrow £12,500 pounds with a monthly payment of £276.46 for 48 months. Their fixed Annual Percentage Rate or APR interest rate is 3.0%. The payable amount for the £12,500 is £13,269.87.

You can apply for a loan online in just 15 minutes via bank’s website. If you have further questions you can locate a branch and discuss your application with someone.

Ulster Bank Personal Loan might be right for you.

Ulster Bank Personal Loan

Ulster Bank is much favoured in both Northern Ireland and Republic of Ireland. There is a good reason for that. Ulster Bank has been known as the neighborhood bank with personal touch and understanding. Ulster Bank makes it quite easy for customers to apply for loans. With its state of the art technology whole Personal Loan Application can be completed online. So when you are looking at making that next step towards a new car or a new house, or just paying off some debts, you won’t have to jump through too many hoops just to secure that new loan for yourself.

Ulster Banks offer great representative APR’s for personal loans, and if you are applying for Personal Loan for a home improvement, you could be eligible for a 10 year+ Repayment term for a loan greater than £ 7,500. As always, The rate you pay depends on your circumstances and loan amount and may differ from the Representative APR.

Ulster Bank have been known in the past to offer fairly low APR’s (Annual Percentage Rates). So for example, if you were to apply for loans with Ulster Bank, and your loan amount was £7,500.00, the monthly repayments on that would be £ 135.93, with a representative APR of %3.4, your total amount payable would be £ 8,155.80 , and if you happened to apply for a Home Improvement loan you could apply for a much longer repayment period. In our example repayment is all based on a 60 month loan term.

One thing to keep in mind though, Ulster Bank will never offer you a rate exceeding 29.9% p.a. (fixed), regardless of loan size. This is to assure that you will always be able to get best deal even if you are in a poor financial situation.

To be eligible for a Personal Loan with Ulster, you will need to hold an account with them, be a UK resident. You may apply for a loan through mobile app or any Ulster Bank branch.

Something Ulster offers for their customers is, the ability to take Debt Consolidation Loans. This is where your loan could be used to pay off your existing credit cards, store cards and other personal loans. You could consolidate all your debt into the one loan and only have one payment to make each month. . Just make sure that you mention the reason for your application when you apply for the loan.

no credit check loans can be an option for you

Bad Credit Loans

No credit check loans are back in the rise. There are a variety of lending providers who can offer assistance to borrowers who have low credit scores. For those of us with bad credit score borrowing can be tough. However, there is light at the end of tunnel the form of no credit check loans.

When you need a loan you need to know exactly what you are getting into. You should try and gather as much information as possible about options in the market. There are many different options, terms and conditions that are required by the lenders. With so many lenders available, you should be careful that you are getting the best deal.

What is a bad credit loan?

As per the title of our post, no credit check loan is a loan that can be an option for people who has bad credit scores. when you apply for a loan from a high street bank, you will go through a comprehensive credit check. If you do have a bad credit score, any defaulted payments from past, you will have a bad credit score.

Bad credit loan is for people with poor credit score. Lenders you provide funds to people with poor credit score know of the risks and don’t run credit checks for applicants. If you need money urgently and do have a poor credit score, a bad credit loan might be one of the options. Standard high street lenders to adhere to more strict guidelines when lending money and credit rating standards that qualify you as a bad credit customer may prevent your access to finance. For a good source of funding options you can utilize the comprehensive guide of Citizens Advice website.

There some other types of personal finance options for people with bad credit: Secured Loans, Peer-to-Peer (P2P) Loans and Guarantor Loans are some to think about.

Why some lenders offer loans without any credit checks?

Like in all business lenders who provide finance without credit checks also aim to make a profit from you. High street banks do manage average citizen’s money, whereas lenders that provide no credit check loans usually deal with their own funds or a small group of investors funds who wants to have higher risk and higher return

Such lenders to take some strong precautions to safe keep amounts they have lent. Therefore you should be careful about some payday lenders sine you may fall into a debt trap and payday lender may claim rights to your wages if you fail to make payments according to schedule. Therefor always be extra careful what kind of loan you are applying for when the lender claims to provide a no credit check option.

What are my options for getting money from no credit check lenders ?

Usually lenders that provide no credit check loans do have high Annual Percentage rates (APR). This is to compensate for taking on a poor credit risk client on as a customer. But this does not mean all your options are bad. You should definitely check on Financial Conduct Authority(FCA) website if you lender is regulated by the FCA. Regulated lenders always provide greater security for your financial well being.

If you do a quick look around, you will see plenty of no credit check personal loan providers and some are offered by well regulated credit unions or online lenders. If you are applying for a high APR loan, make sure to keep the repayment term shorter to avoid paying high interest rates for a long time.

Tesco Bank Personal Loan

Tesco Bank Personal Loans

Yes, you heard it right. Tesco bank now provides Personal Loans at attractive rates.

Tesco Bank is now a full-service bank that offers personal loans and insurance products with a well-rounded portfolio and currently serves around 5,000,000 clients in UK.

In recent years, Tesco Bank has become one of the largest providers of consumer credit, offering more comfortable terms and conditions at comparatively low interest rates.

The Annual Percentage Rate (APR) of the bank for a Personal Loan is %2.90. It is one of the cheapest rates from all major banks in the UK. The bank grants a % 2.9 APR representative on loans from £7,500 – £25,000 over 1-5 years upon fulfilling conditions.

Tesco Bank has a wide range of different loan amounts and terms available – you can access Bank’s loan calculator to work out repayment schedule for different amounts.

Tesco Bank provides an instant decision when you apply online. Another nice feature of Tesco Bank Loans is that all Personal Loans are fixed rate. You will have the peace of mind when paying back your loan to Tesco Bank. Nice and simple.

The attractive lending rates of Tesco Bank are considered to be quite attractive, even if the customer chooses a longer term loan. The period between the loan payment and the application is in individual cases up to four weeks. You can contact the bank directly via the contact information provided on the bank’s website.

Apply for a loan

The processing of loans is usually online, which allows more favorable terms. It is also possible to submit applications in the Tesco Bank branches. However, the interest rate in this case is two percentage points higher. To achieve optimal monthly rates, the flexible terms are between one and five years. In addition to free use, the loan can also be used to auto-finance or reschedule existing liabilities.

Requirements to apply for a loan from Tesco Bank:

The applicant must be a resident of United Kingdom.

The age of the applicant should be between 18 and 70 years.

Applicant must be employed for an indefinite period.

Applicant must have a very good credit rating.

Personal Loan application can be made via Post Office. You can apply in Post Office branches for Personal Loan 2019 2020 rates offers are quite attractive

Post Office Personal Loan

If you want to fulfill your dreams, if the financial reserves and resources are insufficient, Post Office Personal Loan is certainly a very good decision. Whether you are looking for a new interior for the living room or cash for holiday.

Post Office Personal loans are provided with 3.1% APR Representative (Fixed) on loans from £15,001 – £25,000. Post Office Personal Loan Applications are usually finalized instantly. Depending on the amount you have borrowed, repayment schedule dates between 1-7 years. You can withdraw your Personal Loan next day and also applying for loan does not affect your Credit Score.

Your quick Personal Loan might be around the corner! Post Office provides a wide range of banking services all over UK. Post Office Banking Services are straightforward and easy to use. Post Office Personal Loans are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender and is able to provide cheap loans.

Post Office Personal Loan can be paid faster than the payment schedule without penalty. Application for loan can be made via any of the Post Office branches. During application you need to verify that you have been an UK resident for past 3 years, have a regular income above £12,000 a year, between ages of 21-70, credit rating without a history of County Court Judgment or bankruptcy. You should also have a UK based Bank or Building Society account that you can pay direct debit from.

If you do not pay the required installment, you will incur default charges of £12 for each missed or unpaid repayment. Post Office will also charge you interest at the interest rate shown in the loan agreement on any overdue amounts.

Effective APR on Post Office Personal Loans is around 3.1%. This amount may change depending on your credit score and term of the loan. Minimum APR is inclusive of any fees charged when setting up the loan and any other costs applicable to the loan.

Post Office Personal Loan is a fixed rate loan, therefore your payment schedule would not change after you take the loan. Post Office Personal Loan does provide a loan Repayments Calculator that you can use to calculate monthly payments.

APR & Interest Rates: The interest rate offered on assessment may differ and the representative rate may not be the rate that you receive. The rate you are offered will depend on a number of factors including the amount you wish to borrow, your chosen term, your personal circumstances and your credit rating. The maximum APR you could be offered is 29.9%.

£ 20.000 Personal Loan at 3.1% APR Repayment Example

If you choose to take out a Personal Loan of £ 20.000 from Post Office with 3.1% APR (Fixed) and repay over 48 Months your Monthly Repayment amount would be £443.19 and in total you would pay £21,273.07.

If you decide on a faster repayment schedule, you can repay over 36 Months. With such a repayment plan your Monthly Repayment amount would be £582.13 and in total you would pay £20,956.50 .

Finding a suitable Personal Loan with Brexit on the horizon would be difficult. Therefore we suggest you to check out other Personal Loan options on our site.

Physical address of the Post Office is usually on a main high street where you can also make the loan application. Official registered address of the Post Office UK is: Finsbury Dials, 20 Finsbury St, Finsbury, London EC2Y 9AQ, United Kingdom .