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Ease the burden of planning a loved one's funeral with a personal loan, easily compared right here with Savvy.
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Australians who are hard-pressed financially by unexpected funeral expenses seek quick solutions to bury their loved ones in a dignified manner. Many may have a hard time finding financing from some lenders for a variety of reasons and end up paying for funeral expenses through a small personal loan. These loans can promise the convenience of being able to access financing quickly, but are only able to be taken out for amounts up to a maximum of $5,000 and term of up to two years. As such, you may find they're not always the best option for you in this context.
Finding a personal loan that allows you to have access to funds as soon as an application is processed helps by making all goes according to plan when it comes to paying off funeral costs as soon as possible. However, you should be careful when applying for financing that is quick if you have not read the fine print and understood what you are getting yourself into. It is vital that you read the loan's terms to see the additional fees and whether the loan repayments and interest rate are within your financial reach.
It is vital that you check the flexibility that comes with a loan in order to see if it suits you and your partner financially. This will also affect how you repay a loan. You need to check if the loan comes with any repayment penalty fees if you repay the loan early or if you will need to extend the loan. You can get the best of both worlds by finding a lender that offers flexible repayment plans and features that can help you save money such as combining loans to get a discounted offer.
Not taking out a life insurance policy or any form of a funeral cover can leave your family exposed when it comes to dealing with the financial costs of a funeral. Additionally, many choose to take out a funeral cover through their super fund which pays out a lump sum to their dependents when they die. You could also open a funeral account with your bank to help put aside money that can go towards taking care of additional expenses. Insurers will be able to cater towards your financial situation.
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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
