Guaranteed Personal Loans

Compare the best Guaranteed Personal Loans

At some point in their lives most people will need a personal loan. They are used for large purchases, such as a car, or are used to help people deal with their debt. Sometimes it can be tough to get a personal loan. That’s where we come in. We will guide you through all of your choices and help you find a personal loan even if you think that you’re running out of options for a personal loan.

You may feel it’s difficult to find a personal loan if you currently have a poor credit rating, are earning a lower income, or are in receipt of Centrelink payments. You will find, however, that there may still be loans that you can receive to increase your personal finance. Guaranteed personal loans were more commonplace before the unfortunate Global Financial Crisis (GFC). These days lenders are more careful about who they lend to and have placed stricter restrictions on eligibility.

Even though there’s really no such thing as a “guaranteed” personal loan anymore, people who are on benefits, are unemployed have bed credit, or are a low earner may still be able to find a loan. The lenders that offer these types of loans will place less stringent restrictions on lending. They try to focus more on the financial situation you are currently in rather than anything from your past that negatively affects your credit rating. Read on to find out more about your eligibility for loans.

Poor credit personal loans are a kind of loan that is designed with people with poor credit ratings in mind. These loans do not require a credit check at times. If the loaner does check your credit rating they will not take it in to account. These loans have a higher risk and, as a result, they will have higher rates and fees the recipient will have to pay. They can be either secured or unsecured loans, may have a fixed or variable rate, and can be used to fund just about anything from bills to more personal things like cars or holidays.

“Will I Be Able to Find a Loan?”

The eligibility for a loan differs between different lenders. You may still be able to find a lender who will accept your application no matter your situation, but you may need to shop around a little.

If you do have poor credit then you may find success with a payday lender. You may also find a brand that doesn’t subject you to a credit check but really, unless your credit history is that bad, you don’t need to worry about a credit check.

There are also lenders that will consider supplying you with a loan if you are in receipt of Centrelink payments as your source of income. These kind of loans have more restrictions on them though. You can find these loans and compare them here.

If you are unemployed and you still need a loan you can still find people willing to lend you money.

You may even be able to find a loan even if you are currently bankrupt or are subject to a Part 9 Debt Agreement.

“What are The Different Personal Loans I can Receive?”

Even though there’s no such thing as a personal loan any more, there are still different kinds of loans that you can receive if you need a personal loan and are worried about not being accepted.

Payday Loans

A payday loan is basically a loan that is for a small amount and is lended for a short amount of time. They’re called “payday loans” because it’s a kind of loan you make if you need money and it’s not quite payday yet. These loans are for between $100 and $2000 and the loan should be repaid from between 16 days and one year. These loans are also based on your ability to repay which reduces the risk for the lender.

Payday loans will also have set rates and there are caps on the amount you can be charged in fees. You can expect fees including the establishment fee of 20% of the loan amount and the monthly account fees equal to 4% of the loan amount. You may also be charged different fees including government fees and default fees.

Many payday lenders may look in to your credit history but your current financial situation is more important to them. You can use our table to compare different payday loans.

Secured Loans

Secured loans are loans where you receive money and offer an asset, for example your car, boat, or housing equity, as a guaranteed security for if you default on the loan. These loans will typically come with lower fees and rates over unsecured loans because they present less of a risk to the lender. They may still have slightly higher rates because they are somewhat guaranteed. The terms of these loans will typically be between one and five years and the rates may be either fixed or variable.

Find out more about secured personal loans.

Unsecured Loans

An unsecured bad credit personal loan provide an option for people who have bad credit who don’t want to potentially lose a guaranteed asset when taking out a loan. You may also wish to use an unsecured loan if you are planning to use the loan to finance something other than a large asset; if you were using the loan to pay off your bills, repair your home, or go on a holiday for example.

Find out more about unsecured personal loans.

How to Compare Your Loan Options

When you’re looking at the different loan options you have, these are the things that you need to keep in mind.


Your lender should let you know all the fees that you will be expected to pay before you accept the loan. Knowing the fees gives you an idea of how much the loan will actually cost you.


If you take a bad credit personal loan you should expect a higher rate. Even if you’re taking a secured loan you need to compare the rates on the different loans to ensure you get a good deal.


You should also consider the lender offering you the loan. Take a look at how much transparency the lender shows with the information about your fees and charges. You should also take a look at reviews of the lender. You can find reviews for just about any lender online.

Here’s How You Apply for a Loan When You’re Ready

You need to be over 18 to apply for a loan. You also need to be a permanent Australian citizen or a resident of Australia. You can find your way to any application form on by using the “go to site” button. The documents you need to apply for a loan depend on the brand you’re going with. You should prepare a form of identification, your contact details, proof that you receive an in income, and details about your assets, debts, and credit accounts. Remember to consider all the options you can find before settling on a loan.

Please also note that a guaranteed personal loan is subject to the credit criteria of each individual lender.

The different personal loan offers that are compared here are chosen from just some of the personal loans has access to and is not necessarily representative of every product you can find on the market. They are also not displayed in any particular ranking order. The use of the terms “Best” and “Top” are not to be taken as product ratings. We reserve the right to give out these ratings at our own discretion. When you are looking for a personal loan it is recommended that you consult an independent financial advisor and keep your own personal finance circumstances in mind.