Frequently Asked Questions

Q. What documents do I need to support my application?
For a personal loan you will need to provide with your application, current:

• Drivers Licence or Photo ID with signature.
• Proof of income.
• Bank statement showing BSB and Account number with 3 months of transactions.
• Vehicle registration or renewal notice. This is supplied in the mail with your windscreen label.
• A bill.

Q. How long will it take to process my personal loan?  Same day.

Q. How much can I borrow?
This will depend on your current financial commitments. We tailor your borrowing requirements to suit your lifestyle and available money to make repayments.

Q. What can I borrow the money for?
We provide finance for almost anything.

Q. Do I need to be working to get a personal loan?
To meet our initial criteria you need to be earning above $450.00 per week net PER PERSON.

Q. What if I'm self-employed?
You need to have been self-employed or a sub-contractor for a minimum of 1 year.

Q. What if I'm on a pension?
As long as you're earning above $450.00 per week net PER PERSON, you can apply for a personal loan.

Q. How long can I take a personal loan for?
From One Week to Nine Months.

Q. I want to consolidate debts. Can I?
Pensioner loans can be used to consolidate debt for various reasons, however we are not able to consolidate accounts that are over their agreed credit limit or are in arrears.

Q. Will my chances be affected if I have a default?
If you are currently bankrupt, we cannot accept an application. If you have had a credit blemish in the past, then we may be able to process your application.

Q. If my personal loan application is successful, when can I get my money?
If your personal loan application is successful, funds can generally be provided to you the same day.

Q. What are your interest rates for personal loans?
Our interest rates for personal loans are at a low fixed rate for the term of the loan.

Q. Do I have to offer security to secure my personal loan?
Clients are required to offer some form of security, this includes:

• Motor Vehicle
• Truck, Caravan, Jet Ski, Boat, Motor Bike (must be registered)

Q. How can I improve my chances of getting an approval on a personal loan?
You can improve your chances of getting an approval by having a second applicant on the application.

Q. How much do I have to pay back on a personal loan?
Pensioner Loans will tailor Clients repayments and terms to suit them at what they can comfortably afford to repay, their level of income and expenditure will also determine affordability. Some of our clients like to pay out their loans rapidly, while others prefer to reduce their repayments, thus increasing the term of their loan. There are no penalties for making lump some payments repaying your loan sooner or increasing your repayments. Pensioner Loans is very flexible with a Clients repayment plan.

Q. How do I make repayments on a personal loan?
Repayments are made via Direct Debit however you can pay extra using our Bpay facility; Internet Banking; Automatic Funds Transfer; Cheque or Money Order through the Mail; Direct Deposit, or via Credit Card over the phone with one of our friendly consultants. You can also tailor your repayments around Payday, Weekly, Fortnightly or Monthly.

Q. How do I know when my personal loan is repaid?
Pensioner Loans will send a letter acknowledging receipt of a clients final payment and congratulations to them, our Level One Credit Rating will entitle Clients to preferential status and as an established client are able to seek additional funds upon request.

48% WARNING: This comparison rate applies only to examples given and may not include all fees and charges. Different amounts and terms will result in different comparison rates. View comparison rates.