Online Loans

Ozzie Loans offers speedy online approval for personal loans between $5,000 and $50,000 at super competitive interest rates.

Our cash loans application process is 100% paper-free for loan amounts up to $50,000 and, depending on the loan you’re after, can take as little as 3 minutes to complete. Depending on who you bank with, you could have cash in your bank account within minutes of signing your online loans contract. 

Unlike other money lenders, Ozzie Loans are totally transparent. We believe in responsible lending and fully support you throughout the application process, meaning you won’t get caught out by any hidden fees and charges when you take out one of our loans.

Talk about easy finance!

Types of Personal Loans

So: you’ve got your dream firmly pictured in your mind. Maybe you’re sunbathing in Bali, building a massive outdoor deck, or buying that dream car. Now what?

Working out which of our online loans is right for you has never been easier. There are two primary types of cash loans: Secured Loans and Unsecured Loans. Within these, you can choose from fixed and variable interest rates. 

The type of bank loan you apply for will depend on what you’re seeking cash for, how much you’d like to borrow, and over what time period. 

Once we know that, you’ll just need to tell our money lenders about your employment and income and demonstrate whether you own any existing assets, which can help to lower their risk assessment. 

From there, Ozzie Loans will provide you with the best applicable online loans and interest rates for your financial situation and help you understand and make an informed decision with our transparent fees and charges. 

Secured Loans

Secured loans are personal loans that offer collateral against the money borrowed in the form of a significant asset you own, such as a home or car.

By your offering this asset as security, money lenders consider their risk in making the loan significantly mitigated. In the event you are unable to make your repayments on your bank loan (also known as ‘defaulting’), the credit provider will recoup any losses incurred through the requisition of the asset.

How do secured loans work? 

Ozzie Loans makes understanding and applying for secured online loans simple. 

For example, you want to apply for a $20,000 loan. You currently own a car outright, which is worth approximately $15,000. 

Credit providers will assess the information you provide in your bank loan application, including your income and employment information, credit file history, and the worth of any assets you would like to secure your loan to - in this instance, the car worth $15,000.

The information provided informs the level of risk they assume as money lenders and is used to calculate interest rates specific to you, reflecting the perceived risk.

If they deem it safe, they may offer you the full $20,000 loan with a highly competitive interest rate, using your vehicle as security for your loan. Generally speaking, the lower the perceived risk, the better the interest rates. 

Alternatively, loan amounts may be reduced or offered with higher interest rates if you don’t meet their lending criteria or acceptable level of risk. 

Secured loans can also be used for the purchase of items that themselves offer risk mitigation or have significant market resale value, such as the purchase of a new car (which then acts as the secured asset on loan).

Unsecured Loans

An unsecured loan is a bank loan offered purely on the strength of your individual income and daily expenditure, credit rating, savings and general financial history. 

Unsecured cash loans can be used for almost anything which your heart (legally!) desires and are a flexible form of easy finance. These online loans are great for when life knocks you for six, and you need some fast cash for things like bills, moving house, or unexpected expenses like car repairs or medical. 

You can also use unsecured online loans for things like travel and other non-possessive items. 

As a general rule, interest rates for unsecured loans tend to be slightly higher than those of a secured bank loan, as there is no in-built risk mitigation against which money lenders can claim.  

Make debt management easy

Sometimes, life just keeps kicking you when you’re down. And it feels like the lower you get, the higher and faster your bills climb. 

Consolidating your debts is a smart - and simple - way to get on top of your finances. Debt consolidation helps you bring all of your loans and liabilities, such as credit cards, together into a single loan.

Applying for one of our online loans for debt consolidation is a great move to avoid paying out excess interest across multiple loans with higher interest rates. It can also help rebuild your credit rate as you meet a simple fixed-rate repayment schedule and consistently demonstrate positive credit behaviours - all of which is reflected on our new online loans lending assessment tools.

Ozzie Loans love rewarding our good customers, and over time you may be eligible for cheaper interest rates on new online loans if our system identifies positive credit behaviours on your account. 

How do we work out your interest rate and repayments?

Ozzie Loans considers each loan request individually and utilises the latest lending technology to ensure our assessments are fair and transparent, so we can offer you the best online loans and most competitive interest rates to choose from.  

This includes accessing the new, comprehensive method of credit reporting, which reflects positive credit behaviours and not just negative blemishes like the old credit report. We’re a huge fan - this means all your regular, on-time repayments are recognised and create a much clearer, fairer, and more positive borrower profile.

We also consider any current liabilities such as any other existing debts such as other loans or credit cards, your daily expenses, and your income and employment history. All of this combined gives us an accurate picture of your current borrowing capacity, including accounting for contingencies and allows us to craft a personalised loan suitable for your circumstances.

Borrowing with confidence

Ozzie Loans believes in responsible lending and uses machine learning processes and algorithms to help us make informed lending decisions when you apply for our online loans based on your credit profile, income and employment history, bank statements and other factors.

We tailor our online loans to each individual customer to ensure you are offered the best and most appropriate personal loans for your financial situation.