Jacaranda Finance offers personal loans from $300 to $10,000 for Australians who may not qualify with a mainstream bank. They assess each application individually, taking into account income, expenses and banking history rather than relying solely on a credit score.
Applications are completed online and Jacaranda aims to provide a decision within 60 minutes during business hours. For approved applications received before 3pm on a weekday, funds are typically transferred the same business day.
Loan terms run from 13 weeks to 24 months. The cost depends on the loan size. For loans up to $2,000, the fee structure follows the SACC cap: 20% establishment plus 4% per month. For loans between $2,001 and $10,000, the comparison rate is typically around 47.8% p.a. Jacaranda is upfront about costs, and there are no early repayment penalties.
