Personal and Career Development Loans

Find and compare a range of personal loans to further your personal and career development right here with Savvy.

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, updated on October 4th, 2023       

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Why compare personal loans through Savvy?

Types of personal loan

Common questions about career development loans answered

How much can I borrow?

Personal loans can range from $5,000 up to $75,000 to help you adequately cover your expenses. However, the amount you will be able to access will be based on your credit score.

Can I still get financing if I want to do a course overseas?

Yes – because it's a personal loan, it can essentially be used for whatever you like. Therefore, if you wish to use the funds to pay for an overseas course, you're more than welcome to do so.

How often can I make payments?

We broker loans that come with flexible payment terms that can be paid on a weekly, fortnightly, or monthly basis.

Will I be able to get finance to cover equipment that is needed?

Yes – these loans are designed to pay for all educational related expenses including equipment and technological devices that are needed for a course.

Can I get financing even if I am self-employed?

Yes – our lenders offer loans that are tailor-made for people who are self-employed. The only real difference will be your documentation requirements, with tax returns required in place of payslips.

Can I make a lump sum payment?

Yes – our flexible lenders allow you to receive your loan amount in a lump sum, which you can use in its entirety if you wish. You can then make lump sum payments towards your loan with no penalty fees involved to help you better manage your loan debt.

Will I be able to get financing if I am on a visa?

Yes – there are some specialist lenders who offer loans to borrowers living in Australia on eligible visas, but not all will do so.

Can I get a co-borrower to take out a loan?

Yes – you can sign onto a personal loan with a co-borrower, such as your partner, which can potentially expand your borrowing capacity and reduce your interest rate (due to the lowered risk of relying on two incomes instead of one).

Can I get a quote before I apply?

Yes – our lenders offer an obligation free application process that can help you find a quote with low rates.

Your helpful guides on personal and career development loans

Know what skills to invest in

There are skills that you would like to have and there are skills that you need to have to help propel you forward in your career. Knowing the difference between these two will not only save you time, but it will also keep you from wasting money that could have been spent elsewhere. Before jumping on a loan bandwagon or asking your employer to give you the financial boost that will help you climb the rungs to your career, you could research what skills will definitely give you that added edge. Some people also go as far as doing a psychological assessment to help point them in the right direction of what skills or positions they should aim for.

Degree vs short course certificate

This might be one of the challenging decisions when it comes to choosing the type of education you want to help develop yourself and your skills. There is a diverse range of degrees that are available to help you reach your goal of becoming a master at what you do. It is also something that is widely recognisable, unlike certain certificates. However, a degree can take longer and costs more to complete. Certificates, on the other hand, are short and can help you get accredits on certain boards and increases your employability. The deciding factor will be on whether it is recognised and can enhance your skills and improve your career.

Save, save, save

The process of opening a savings account and being diligent in putting something in it is not something that is fun, but the fruits that come from it are almost priceless. If you are considering on doing a short course to either develop yourself personally, a savings account can come in handy. Thankfully, there are some short courses that are available at a reasonable price that you can save towards. It always helps to save for when you need to make your next big leap in your career. Having your savings automated can work as a saving grace people who tend to forget or need more help in sticking to their saving goals.

Ongoing costs, fees & charges

Whatever finance option you decide to settle on it will be in your best interest to check the ongoing costs, fees and charges that come with it. This will help you assess whether it is an affordable option for you and if you will be able to comfortably meet the repayments in the future. One way to evaluate whether a loan is suitable for you is to look at its APR rate which is a slightly higher percentage next to the interest rate. The APR rate generally covers the full costs of the loan and will give you a more accurate cost of the loan. Using a loan calculator or speaking to your financier can help you understand your loan on a deeper level.

Handy 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.