Rapid Loan

Thankfully, the process for applying for loans is now much quicker than it has been in the past. With the rise of smart technology, there are now online loan companies that offer simple cash loans that can be approved on the same day you apply without extensive paperwork.

If you are looking for a rapid loan, online money lender Ozzie Loans offers rapid personal loans that you can apply for online in just 5 minutes. With our fast same day approval, you won’t have to wait long to find out if your loan application has been successful. If you are looking for an express cash loan, apply online today at Ozzie Loans.

What is a rapid loan?

If you wanted to take out a loan in the past, you might have expected the loan application process to take a long time and involve many conversations and documentation. Today, the world has changed pace, and people expect things to happen a lot quicker. To make the most of opportunities, you may need to act fast, so having to wait days or weeks to get a loan is no longer going to cut it. That’s where rapid loans step in. Some fast lenders now provide rapid personal loans that make it possible for you to get access to extra cash on the same day you apply for your loan. In some cases, if you apply for a personal loan in the morning, you could have the funds in your bank account by the afternoon. 

How a personal loan works is that you borrow a lump sum of money upfront that will then need to be paid back (with interest) over a defined period of time. There will also be other fees and charges associated with the loan, including establishments fees, monthly account keeping fees, annual fees, dishonour fees, overdue account fees, early exit fees, and more. Each lender will have a different cost structure, so you’ll need to be aware of any fees, charges, interest rates, and other terms and conditions before going ahead with your loan.

What are the benefits of taking a rapid loan?

From booking an early bird deal on holiday to securing a rental property, there are some situations in life when getting extra cash quickly could make the difference between seizing an opportunity or missing out altogether. At times like these, getting access to money quickly is crucial. Another benefit of a rapid loan is that the application process is simple and straightforward. Even if you don’t need to access your money quickly, you’ve probably got better things to do with your time than spending hours filling in a complicated form or having lengthy phone calls or face-to-face meetings. And not only is the application process quick and easy, but the approval process is fast and streamlined, too. So rather than spending days anxiously waiting to hear back about whether your loan has been successful, with a rapid loan, you will often get an outcome on the same day you apply, in some cases within an hour. Once your loan has been approved, the money can be immediately transferred into your bank account, depending on the money lender. Transfer times will vary between banks, but you shouldn’t have to wait too long before the money is in your bank account.

Is there any eligibility criteria for a rapid loan?

The criteria that will determine whether you are eligible for a rapid loan and how much money you can borrow will vary depending on the money lender you use and the loan product you are applying for. For example, if you take out a secured loan, where you will need to provide an asset, such as a vehicle, as security on the loan, the value of your asset will influence how much money you can borrow. Or, if you apply for no paperwork loans, you will need to provide less documentation than you might have for another type of loan. Comparing the different options for cash loans Australia can help you decide which loan best suits your circumstances.  

To be eligible for a personal loan from Ozzie Loans, you’ll need to be at least 18 years of age at the time of your application, a resident of Australia and currently employed. Ozzie Loans offer unsecured loans, so you won’t need to provide an asset as collateral. Our online loans come with a fixed rate of interest, so your regular repayments will stay the same over the entire loan term. This makes it easier when you are putting together your personal budget. We also don’t charge any early exit fees if you decide to pay your loan back early. When assessing your loan, we will consider factors such as your credit history, your level of income, your expenses and any existing debt. We offer competitive interest rates that will be tailored to each individual based on their credit report and other financial information provided in the loan application. 

You may be wondering how we can process your application so quickly. To start with, we have a quick and easy online application form that can be completed in as little as 5 minutes. You’ll need to provide some personal and financial details, but you won’t need to supply mountains of paperwork. Our cutting edge technology enables us, with your permission, to get secure read-only access to your last 90 days of bank statements allowing us to verify your information without you needing to submit your bank statements individually. And it is not only our application process that is fast, and our assessment process is speedy too. Machine learning decision algorithms make it possible to assess social and financial data in real-time, enabling us to provide you with a quick outcome, usually within one business day. If your loan is approved and you agree to your loan terms, we can transfer the money into your bank account straight away. The transfer time will vary between banks, but in some cases, the money will be in your bank account within an hour. 

To help you work out how much money you can comfortably afford to borrow, Ozzie Loans has a free online calculator that can give you an idea of what your repayments are likely to be according to how much money you want to borrow and how long you want to borrow it for. We are also transparent with our fees and charges so that you’ll know what to expect before accepting your loan offer. 

If you are looking for a rapid loan in Australia, contact Ozzie Loans today. We have taken the hassle out of getting fast finance!