Applying for a personal loan.

Everything you need to know before applying.

Discover some magic with personal loans as we are your expert lender finders! We want to create a positive lending environment for all Australians.

Applying with Personal Loan Wizard only takes a few minutes of your time. Just submit an application and we'll refer you to a lender who may be able to offer you the loan you are after.
Before applying with Personal Loan Wizard, make sure you are:
- Over 18 years old
- An Australian citizen or permanent resident
- Receiving a regular income into a personal bank account for the last 90 days
- Able to provide an active phone number and email address
You could complete our application form in just minutes! Then, we'll refer you to a lender who may be able to offer you the loan that you're after.

The lender that we refer you to will then get in touch to go over your application and conduct their own assessment. Sit tight, as processing times vary from lender to lender.
We are 100% online, therefore all applications are submitted via our mobile-friendly website. Just like magic!
You can submit a personal loans application through us at any time of the day. Just keep in mind that if you apply outside of business hours, it may take a little longer to hear from your lender.
So we can pass on as much information as possible to your prospective lender, we ask that you provide us with your internet banking credentials, your MyGov account details (if applicable), 100 point of identification and your employment details.
Your lender may wish to conduct a quick employment check. However, the lenders we work with generally employ well-trained operators who would never compromise your privacy.
As we are just the lender finder, we cannot gurantee any personal loan offers. However, the lenders that we work with tend to put more focus on your current financial situation rather than your past mistakes. If bad credit has seen you knocked back from personal loans in the past, it may be time that your luck turned around. You never know unless you try.
If you are approved by the lender that we refer you to, the amount of time it takes for them to transfer you the funds is completely dependant on their individual policies. Therefore, it will vary from lender to lender.

Fees and Payments

All questions about fees and payments answered.

All our partnering lenders are upfront about all their costs and fees. Here is an example of what a personal loan could cost you*:

Small Amount Credit Contract (loans from $300 to $2,000), costs:

Establishment fee: 20% of loan principal.

Flat monthly fee: 4% of loan principal.

Direct debit dishonour fee: can be $20-35 per dishonour.

Medium Amount Credit Contract (loans from $2,001 to $5,600), costs:

Establishment fee: $400 flat fee.

Annual Interest Rate: 48%.

Direct debit dishonour fee: can be $20-35 per dishonour.

*Please note that these costs are just examples. The actualy cost of your loan will depend on the lender we refer you to. This will be clearly outlined in your loan contract if you are approved.
To avoid further costs, it’s essential to make your repayments on time. Defaults and late repayments can incur a poor credit report.

Once your personal loan is approved, your lender will likely set up a direct debit schedule that transfers the funds automatically from your bank account. You can generally select to make your repayments either weekly, fortnightly or monthly.
Unfortunately, if you fail to make your repayments a fee may be added to the outstanding balance of your personal loan by your lender. Before signing your personal loans contact, make sure to double check all the fees and charges outlined in the terms.

If you believe you may be late or miss your next repayment, contact your personal loan lender at your earliest convenience.
If you fail to make repayments, you may have a default listed on your credit file.

A default on your credit file can severely affect your credit history and will remain on your report for up to 5 years. Your account may be passed on to an external debt collection agency – a final step for lenders.

If your circumstances suddenly change, contact your lender to find out if you could apply for Financial Hardship.
If, during your loan term, you have an unexpected change in circumstances and are unable to meet your financial commitments such as bills, rent or your personal loan repayments, please contact your loan provider.

If you struggle with managing your finances please consult an accredited financial advisor or visit www.moneysmart.gov.au.

Additional Questions

Got any questions? You can find the answers below.

If you’re currently bankrupt or your bankruptcy has been discharged, we'll refer you to a lender who may be able to help on a case by case basis. Apply today and let’s find out if you’re eligible.

If you are currently in a Part 9 Debt Agreement, you are not eligible for a Small Amount Credit Contract (loan from $300 to $2,000). You may be eligible for a Secured Medium Amount Credit Contract. This personal loan must be secured by a car, boat, motorbike or caravan. These loans range from $2,001 to $5,000.
A SACC loan is a government-regulated Small Amount Credit Contract governed under the National Consumer Credit Protection Act (2009). These loans are repaid over a 12 month period and are between $300 and $2,000.

A MACC loan is also a government-regulated product under the National Consumer Credit Protection Act (2009). A MACC loan is a Medium Amount Credit Contract. MACC loans terms vary from 12 to 24 months for $2,001 to $5,000. Our lender pairs typically only offer Secured MACCs where you offer security in the form of a car, motorbike, boat or caravan whilst the loan is being repaid.
If you are unhappy with our lender finding service, we welcome all constructive criticism that may head our way. Head to our Contact Us page to contact us via email.

We will endeavour to respond to your complaint promptly and attempt to reach a solution that is agreeable for both parties. If you are still not satisfied with the outcome, you may contact the Credit Ombudsman Service Limited for an independent review.

You can contact the Credit Ombudsman Service on 1800 138 422 or visit www.cio.com.au for more information.
Once you are approved, you are fair to go and enjoy your moolah! Just make sure to have your repayments in the nominated personal account when they are due.

Just like Magic. The lender finding service for you!

Put your trusts in our lender finding wizards to find the lender you’re looking for!