Non-Secured Loans

You can apply for Ozzie Loans online loans in under five minutes and receive your approval in about the same. Depending on who you bank with, you could even have the funds in your account the same day. 

To take advantage of our unsecured lending and easy finance, simply hit ‘Apply Now’.

What are non secured loans?

There are two principal types of personal loans in Australia - unsecured and secured. At Ozzie Loans, we only offer unsecured loans - also known as non-secured loans. 

Unsecured finance, such as our low rate personal loans, is offered solely on the strength of your credit rating, savings, income and expenditure, and your general finance habits. 

Unlike secured loans, this means you don’t need any existing assets - such as a car or home - to use as collateral or security for our loans. 

By exclusively offering unsecured lending, Ozzie Loans is making our low rate personal loans and finance more accessible than secured finance offered by the big banks. It also makes the application process for our smart personal loans much simpler.

Does a non secured loan affect your credit?

Non secured loans do not affect your credit differently than any other credit products, such as secured loans or credit cards. 

When you apply for Ozzie Loans smart personal loans, the application - regardless of lending outcome - is recorded in your credit history. If you receive approval to borrow money from us and enter into a lending agreement, your repayments will also be recorded. 

This is why it’s important to know that things have changed around how your credit score is calculated. Previously, only negative credit behaviours were tracked, such as where you may have missed a bill or repayment on a line of credit. This is called ‘defaulting’. Nowadays, things are much fairer under the new Comprehensive Credit Reporting (CCR) guidelines. 

Every time you meet a repayment on your flexible personal loan, you’re demonstrating positive credit behaviours - and these are now being recorded along with any defaults. We think this is great, as it presents a much more comprehensive borrower profile and allows us to see where things are really at, so you’re not just being measured against a few blemishes that happened in the past. 

It also means improving your credit score is easier! Just remember that each time you apply for a line of credit, such as one of our non-secured loans, it’s recorded on your credit file. False disclosure - even if you made an honest mistake within the application - or multiple applications for loans or credit cards within a short period of time aren’t looked upon favourably and will negatively impact your credit score, so be sure you’ve got all the information about your debts correctly in place before you apply. 

Understanding your credit score and how it impacts lending decisions is one of the most important - and useful - parts of personal finance. In short, the better your credit score, the more likely you are to be offered lower interest rates and higher credit limits when you apply for low rate personal loans or other credit products with Ozzie Loans.

How to qualify for a non secured loan?

Unlike borrowing with the big banks or other money lenders, we don’t mess around with uploading payslips and endless other supporting documents. Everything we need is already available online. No phone calls, no fuss - just fast loans. 

To be eligible for our non-secured loans, you’ll need to be an Australian citizen or resident and at least 18 years of age. We’ll verify this online at the beginning of your application, so make sure you’ve got an Australian-government issued form of identification handy, such as a passport, licence, medicare or proof of age card. You’ll also need to have a stable source of income deposited on a regular basis into a single bank account. 

When you’re ready to apply for our non-secured loans, simply visit the Ozzie Loans website and hit ‘Apply Now’. 

First, we’ll ask you about how much money you’d like us to lend you, and over how long. We offer fixed rate unsecured loans between $5,000 - $50,000 over lending periods of 1-5 years. 

Tip: If you haven’t used it already, our personal loans calculator is a great tool to help you budget by comparing repayments on different fixed low rate personal loans, flexible personal loan amounts and lending periods. Once you’ve confirmed what you’d like to borrow for your unsecured loan, you’ll need to tell us about your employment and income, living expenses, and any debts and savings. 

We’ll then run a check on your credit history.  Ozzie Loans believes in responsible lending. We’ll only give approval of our non-secured loans and other credit products to customers who demonstrate they can comfortably afford to meet their repayments along with their day-to-day living expenses. We don’t want any of our customers to experience financial hardship as a result of borrowing more than they can afford to pay back. 

We assess each application for our loans individually to ensure you get the best unsecured personal loan for your situation, so you won’t automatically be declined for having damaged credit. However, there are some circumstances that will cause your credit application to be declined, such as if you have recently made multiple unsuccessful applications for loans or credit facilities, have a consistent pattern of defaulting (missing or failing to make payments), are in a debt arrangement, or are bankrupt.

In addition to outlining your applications for and existing lines of credit, your credit file also reflects your credit behaviour. These factors tell us how high the risk of lending to you is, as it allows us to differentiate patterns from isolated incidents. 

Once you’ve completed the loan application form, we’ll ask you to sign in to your online bank platform. It’s important to note that we don’t receive access to your bank account - our system simply requests the information in the form of a 90-day transaction statement in PDF read-only format from your bank. After receiving it, we’ll use it to confirm the information you provided around income, existing debts, and other expenses in your flexible personal loan application.

Combined, this information helps us determine how much cash we can release for you to borrow and under what loan conditions - including your flexible personal loan interest rate and repayment period. 

And that’s it! You’ll know within a matter of minutes if your application for one of our non-secured loans has received approval and receive online access to a copy of your smart personal loans contract. 

Assuming you’re happy with the loan conditions offered, simply sign the agreement and depending on who you bank with and if you applied during business hours, you could have the money in your account within a few hours.