Personal Loans

What is a Personal Loan?

Personal loans allow you to borrow a certain amount of money and repay it with interest in equal installments over a set period of time. Personal loans are typically less expensive than credit cards, which are considered as a common solution for personal finance needs. Unlike a credit card, however, a personal loan delivers a one-time payment of cash to borrowers.

Personal loans can be secured, meaning you need collateral to borrow money, or unsecured, with no collateral needed.

Generally, personal loans can be used to cover:

• Wedding costs

• Holidays

• Moving expenses

• Medical bills

• Debt consolidation

• Home renovations or repairs

• Unforeseeable bills or expenses

Personal loans differ from other installment loans meant to cover specific expenses, such as student loans, car loans, and home loans.

If you’re looking to borrow money to help you attain a personal goal, then the personal loan experts at ZENRG Finance can help. We aim to simplify the process and help you get a competitive deal.

Requirements for a Personal Loan

Typically, to apply for a personal loan, you must be:

• an Australian citizen or a permanent resident of Australia living within Australia

• at least 18 years old.

Keep in mind that requirements will vary from lender to lender. In some cases, a lender may require an applicant to be currently employed, earning a minimum amount of income, or have a good credit history.

To determine if you’re eligible for a personal loan, you should first talk to one of our personal loan experts.

How Much Can I Borrow with a Personal Loan?

Typically, you can borrow between $5,000 - $80,000 for a personal loan for either 3, 5, or 7 years.

Please note that the maximum amount offered to you is determined by a range of variables, including those mentioned above.

Apply for a Personal Loan Today

To explore your personal loan borrowing capacity, repayments, or potential savings, check out our finance calculators.

You can also book a meeting with our friendly team or give us a call today to discuss your personal financing options.