Personal Loans Adelaide

Living in Adelaide and looking for a personal loan? Compare affordable options right here with Savvy.

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, updated on October 4th, 2023       

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The features of personal loans for Adelaide borrowers

Competitive interest rates

You can lock your interest rate in starting from low rates for both secured and unsecured personal loans, helping you save on your finance deal.

Borrow up to $75,000

Personal loans come in all shapes and sizes, making them suitable for expenses as small as $2,000 and as grand as $75,000 in any area you like.

Repay over up to seven years

Part of the benefit of personal loans is that you can also decide on how much your repayments cost each month, setting your loan length between one and seven years.

No-fee options

Some of our lending partners can offer you a personal loan without any setup or ongoing fees charged at all, saving you hundreds of dollars overall.

Fixed or variable interest

We also compare both fixed and variable interest options, enabling you to choose between repayment stability and the potential for savings if rates fall.

Select your repayment frequency

In addition to choosing your loan term, you can also decide on whether to make contributions on a monthly, fortnightly or weekly basis in line with your needs.

Types of personal loan

Why compare personal loans through Savvy?

Your personal loan application checklist

Need more information about Adelaide personal loans?

What can I use a personal loan for in Adelaide?

There are many reasons you may choose to take out a personal loan. These include: 

  • Wanting to plan an experience, like a holiday or a wedding 
  • Conducting renovations around your home
  • Being caught out by an emergency expense, like an unexpected medical bill or urgent car repairs 
  • Needing to make a large purchase, like furniture or a car
  • Choosing to consolidate your existing debt
  • Pay for educational expenses 
How will applying for a personal loan impact my credit score?

When you apply for a personal loan, your lender will check your credit history. This enquiry will be formally recorded on your file and could cause your credit score to dip slightly. As such, you should always consider every application carefully and only seek credit when you really need it. 

The good news is that if you do apply and are approved, your score could actually improve in the long run. By making your repayments in full and on time, you will show that you are financial responsible. This will make you more attractive to lenders and could make it easier to get credit in the future. 

Most of my income comes from Centrelink – can I still get a personal loan in Adelaide?

Most lenders will require you to be receiving some form of income to be eligible for a personal loan. However, some will have more specific criteria, like minimum income levels and documentation requirements, where others will be more flexible. 

As such, receiving Centrelink benefits could make it a little harder to find a personal loan. However, you should still have options and be able to find a lender who is willing to consider your situation. 

I’m new to my job – can I still get a personal loan in Adelaide?

In addition to earning a minimum amount, some lenders will want to see that your source of income is stable. As such, if you are new to your job, or on a short-term contract, they may not consider you. However, there are lenders who are more flexible and may still approve you if you meet all their other criteria. 

I don’t have the best credit history – what are my options?

While a good credit history helps, a bad one is not necessarily a barrier to getting a loanIf your credit score is under 500, you may need to look for a bad credit loan providerHowever, you should be aware that these companies usually offset their financial risk by charging higher interest rates and fees. 

I’m already repaying a personal loan, but need more money – can I apply for another?

Generally speaking, having more than one personal loan is not the best financial practice. It can also affect your credit rating, as multiple applications will be recorded on your file.  

However, if it’s really critical you find extra fundsthere should be lenders willing to consider your applicationBut, you need to be certain it’s absolutely necessary and you can afford the repayments. 

Helpful personal loan guides

Still looking for the right personal loan?

Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.