From a holiday to a wedding. A car to school fees. A personal emergency or an extension. We have lenders that can even lend to borrowers with short residence and employment records, seasonal and contract workers, and new borrowers.

 

Secured and unsecured loans

 

Just like a home loan or car loan, a personal loan can be secured or unsecured.

 

Secured loans usually offer lower interest rates than unsecured loans, but you need to put up an asset, like your car or home, as 'security' to get the loan. If you don't repay the loan, the credit provider may (in some circumstances) sell your asset to get its money back without first going to court.

 

With unsecured loans you don't have to put up an asset as security, but the interest rate is usually higher. To get an unsecured loan, you must convince the credit provider that you can repay the loan. If you don't repay the loan, the credit provider may take you to court to get its money back.