Australians have several lender types at their disposal for personal loans. Big banks, credit unions, and small banks remain among your options. Non-bank lenders, such as Mortgage House, is another option.
Data shows that the best place to acquire a personal loan is from small banks and credit unions. In many cases, big banks don’t offer them at all. Personal loans range from $1,000 to $50,000. In Australia, the average personal loan is $15,000 to $16,000, with an interest rate between 12% to 15%.
For big banks, these are small loans to service. Thus, small banks and credit unions pick up the clients. They offer competitive interest rates and loan terms.
Another option is non-bank lenders. For example, Mortgage House loan specialists receive access to proprietary tools. The tools search for terms that compete with other lender institutions and balance risk with reward.
Mortgage House personal loans have few restrictions. Once you receive approval, use the funds to consolidate debt, to cover emergencies or travel. Current Mortgage House customers receive the opportunity to bundle their financial products. Homebuyers and homeowners receive access to this loan when they require extra cash.
Approvals take as little as 24-hours. By bundling products, it’s possible to save on your monthly repayments. Pick from the variable rate or fixed rate personal loan with unlimited redraws.
Personal Loan Conclusion
Mortgage House offers competitive personal loan terms. In addition, you can speak to our loan specialists about applying for a car loan. Contact our team to receive more information.
