Personal Loans Melbourne

Unlike other lending services, we don't sit behind a desk in a branch office. This allows us to provide a no-bull, no-nonsense online application experience that keeps our overheads incredibly low and our tech-savvy customers satisfied. We communicate with our customers mostly via email or text—sometimes without having to call them. And since we don't like making our customers wait, you can trust that our same day loans are really what they are—loans that get approved on the same day.

All personal loans Melbourne applications are done on your mobile device, taking only minutes to complete the entire process. This is due to our low doc application requirements, which means you will only need to submit a few forms for verification. And if you submit your application during our business hours, you'll most likely get an answer from us in no time at all, which is typically within an hour. Once you receive our offer, simply sign the contract digitally and send it back to us online as soon as you can, so we can make the funds transfer immediately. Depending on the bank you use for your application, you can receive your money within the day you apply with us.

We care about the fact that customers look for a fast and pain-free loan application and delivery process, so we've designed our credit services to give you just that. We've developed our credit process in such a way that it allows you to look at your account at any time, with an intuitive dashboard that instantly displays all of your transactions. It has been our aim to give you the simplest and most reliable online cash loan service, so you can live your life without having to wait for the funds you need right now.

What do you need to apply for a personal loan in Melbourne?

Applying for our personal loans Melbourne service is easy. Simply set aside 5 minutes to fill out the online application form and submit it once you're done. Standard personal loan eligibility requires being at least 18 years old, currently employed, and having a permanent address in Australia.

Our online application process for our personal loan Melbourne services have been developed to cater to your immediate financial needs and provide you cash right when you most need it. We skip common personal loan verification processes like calling you about your application and filling out a bunch of paperwork. Instead, we tap into the power of technology and verify your details fast by using illion's bank-level encryption software. So you can rest assured that your data is always kept secure. We only access your information by receiving a PDF file of your latest online banking statement directly from your banking platform. Once we get your 90-day statement, we verify details such as your income information and expenses to assess your application thoroughly. Once we've ticked off all the right boxes, you are sent an offer that matches your credit history and capacity.

Yes, we still look at your credit file. However, it's nothing to stress about since we are aware that your credit history doesn’t paint the entire picture of your credit experience. As a reliable lender in Australia, Ozzie Loans verifies all applications thoroughly and internally assigns each applicant a credit rating. The good news is, your credit rating goes up with each successful loan you pay back on time. Your rating also increases when you apply for another loan with us, giving you access to lower personal loan interest rates and fees.

How much can I borrow with a personal loan?

Ozzie Loans' personal loans Melbourne service offers balances between $5,000 and $50,000. Whether you need funds to cover the cost of expensive medical procedures or pay for tuition fees and post-graduate degrees, there’s a personal loan Melbourne option that can definitely help you out.

If you're looking for a credit option with more flexible terms, we also have a revolving credit line with balances ranging between $1,000 and $15,000. It’s a revolving line of credit, which means you are able to free up new credit every time you make even just a partial payment. This is very different from a loan since there is no way to redraw from an existing loan you have with us.

So if your situation calls for something that will allow you to redraw from a credit line constantly or from time to time, then applying for a line of credit might be a better fit for you rather than our personal loans Melbourne service.

Can I increase my personal loan amount?

If you're looking to refinance a personal loan, a popular way you can do so is by increasing your loan balance. This allows you to open up new credit that you can use to pay off and clear up small debts or unforeseen expenses like the need for a brand new car, costly repairs, and more. To increase your personal loan balance, you will need a new application. You can easily be approved for a new loan amount if your credit file and your history with us are all good. To start your new application, simply note the amount you need, including the amount to clear your current loan with us, and make sure that you've used our personal loan calculator to check if the new balance is doable for you.

You can also take advantage of our Freestyle virtual credit card offer instead of getting a personal loans Melbourne account if you need an easier way to have more financial flexibility as this option already allows you to instantly redraw from your pre-approved balance anytime you clear a part of your credit line with us.

How does taking a personal loan affect your credit?

A person's credit history shows all current credit, including any newly approved loan. It is only when maximum credit capacity is being reached, or failure to repay old credit and loans occurs that your credit score starts to get affected negatively. However, thanks to recent changes in how lenders review credit files, we're now able to get a better look at a customer's financial status. For instance, when a loan broker gets your 24-month credit history, they won't just see what defaulted — they will also see the efforts you've made to correct any issues.

We recommend always monitoring your credit file to make sure that your present credit is still doable, as well as to protect yourself from possible credit theft entries. Since everything is digitally available nowadays, you can easily and regularly access your credit file online, or you could also opt to get a copy of it.

Have you decided to apply for one of our personal loans Melbourne services? If so, simply fill out and submit an application, wait for our response, and get your money on the same day.

Alternatively, you can also check out our personal loans Australia, personal loans Sydney, and personal loans Brisbane services if you live in another part of the country.