Personal Loan Calculator
Using our personal loan calculator you can find your ideal personal finance solution.
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A bad credit loan is possible. In fact, At Rapid Finance, we have helped thousands of Australians with a poor credit history. If you have unpaid defaults, credit card debts, or little documentation and need money to buy a car, home or bike, get started today:
If you're looking for a bad credit personal loan, allow Rapid Finance to do the work for you. A friendly credit specialist from our team will identify your financial strengths and use them to negotiate with various lenders. Not sure if a personal loan is the right choice? View our full range of bad credit loan options.
Bad credit personal loans are specifically designed to help applicants with a poor credit history or a low credit score. For example, those who've experienced credit defaults, bankruptcy, or part IX debt agreements. Loans for bad credit, provide funds for a range of personal expenses, such as unexpected bills and temporary shortfalls in cash. These loans are available through Australian lenders and brokers who understand that you may have difficulty getting approved for traditional loans due to your credit history and who are experienced in assisting people with credit problems.
There are several advantages as a borrower:
Don't worry if you've had credit challenges in the past or have been rejected by the banks. Whether you need cash loans for emergency expenses, car repairs, a holiday or need a loan with bad credit for some other reason, we're happy to help. Our expert finance consultants can help find the right solution for your circumstances:
Even with a low credit score, we have access to a large panel of lenders, all with different rules on who they will lend to. We'll do our best to match you with the right lender - fast!
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Please note: This is an estimate provided for illustrative purposes only, and is based on the accuracy of information provided. It does not constitute a quote. Additional fees and charges may apply dependent on your individual circumstances. Fees such as early repayment costs and establishment fees are not accounted for in the examples of weekly repayments. Interest rates may be subject to change throughout the term of the loan.
Learn your chances of loan success with a free Rapid Finance credit check. It’s fast and easy, and it won’t affect your credit rating. Request your score today – it only takes a few minutes!
Using our personal loan calculator you can find your ideal personal finance solution.
Read moreChoosing between a personal loan and a car loan can be difficult and confusing. There are many things to consider and getting the right advice could save you a lot of money.
Read moreTurned down due to your credit history? Here's what you can do next to secure finance.
Read moreTo pass our basic criteria, you must:
You must not:
Rapid Finance help people with bad credit get their home loans approved, all across Australia every week. We are bad credit home loan experts, with over 20 years financial experience. Head over to our bad credit home loans page to get started.
Yes, you could with Rapid Finance. We have over 20 years experience getting very bad credit loans approved for people who have defaults on their files or who have recently completed their bankruptcy.
Yes, you could get approved on Centrelink benefits, when you are also receiving a regular income, whether that is from full-time, part-time, contract or self-employment or even Centrelink, through Rapid Finance. We have a number of loan products which may be suitable to your needs on our Centrelink Loans page. However, the amount you could borrow, will depend on your income, expenses and the loan’s affordability. We will also consider applicants who wish to add their partner to the contract.
Did you know you could even qualify for a Centrelink Car Loan? Check it out!
If you don't know your credit rating and would like to check, Rapid Finance offers a free credit check. By using our free credit check service, your credit rating will not be effected!
Rapid Finance is a broker, with a large panel of lenders, who specialise in providing loans and finance to people who may have difficulty getting their loans approved via the main banks or lenders. We have over 20 years experience finding finance and loans for our customers, and are often successful in securing finance, when other lenders are unable to assist.
Our company details are as below:
Company: Rapid Finance (Aust) Pty Ltd
Australian Credit Licence: 392965
Australian Business Number: 62 098 624 483
Australian Credit Number: 098624483
Yes, you could. As a lender, there is more risk when an applicant or borrower is in a new job or on probation, but it is possible. Your chances will improve after the probation period has ended, which is generally after 3 months in the new role. If you work contracts, it is also possible to get approved with Rapid Finance. You will need to demonstrate regular income and that the loan is affordable to you. We will work with you to find the right lending product, that suits you. We have a number of lenders on our panel, who will accept applications when the borrower is on probation in a new job.
If your credit score is a concern, don't worry. There are plenty of advantages when getting a loan through a broker like Rapid Finance:
Just a heads-up, while many people find brokers like Rapid Finance really helpful, some brokers might charge fees. And remember, we can't reach out to every lender out there, so make sure to do a little homework on your own before making a decision.
Yes, we will need 2 payslips and or a copy of your Centrelink income statement.
No, it won't. As a broker, when we access your credit file, there will be no record against your credit file. Unlike lenders, where your credit rating may be negatively affected.
After finding a suitable loan product and lender, we will negotiate and present your case to them on your behalf. Only after we obtain a good indication that your application could be successful, subject to final credit checks, will we recommend proceeding. Only then, a credit check may be run by the lender.
There are a few things you can do in the short term. Make sure you do not empty your bank account every pay day. Limit the amount you spend on gambling. Stay in the same job and at the same address if possible. Pay off as many debts, as you can. Review your credit score and make sure everything is correct. You can check your credit score for free, with Rapid Finance. Most importantly, be as honest as possible in your application with us. We can't guarantee an approval on your application by following these steps, but these are some of the most common issues we come across.
No, you don't. However, there are some advantages to providing security against your loan. You are more likely to get approved, for a larger amount and at a better interest rate. This is due to their being less risk for the lender. Some common items of security include your car or your home.
To learn more about our secured loan options, see below:
With Rapid Finance, your online application could be completed within about 5 minutes.
No, that's not a good idea. Making multiple applications with lenders, will put multiple credit enquiries against your credit file. This may negatively affect your credit score.
As Rapid Finance is a broker, there will be no impact on your credit file - which is important when you already have credit concerns. When you apply for bad credit personal loans with us, you are getting access to a wide range of specialist lenders and products. We do all the hard work in the background, so you only need to make one application, with Rapid Finance. When we have matched you with a lender, we will contact you, to submit your application on your behalf.
All the lenders on our panel work under responsible lending guidelines and have processes in place to assist, when customers financial situations change. The important thing is to contact the lender directly (or us, so we can help), as soon as you can, so they know why and can assist you.