Unsecured Personal Loans
Need a loan for a one-off purchase but have nothing to secure it with?
If you are after some quick cash for a car, holiday, renovation or short period, an unsecured loan may be the answer. Finance Monster is a broker service ready to provide great results. We have close connections with many of Australia’s lenders and financial institutions, and are ready to do our best to get you great rates and attractive deals. We’ll do our utmost to pinpoint attractive Unsecured Personal Loans on your behalf, so you can borrow the cash you want to – whatever your personal situation.
What is an Unsecured Loan?
Unsecured Personal Loans are when you are lent money without using one of your assets, such as your house or car, as security in case of default. This type of loan is ideal if your financial assets are limited, or you do not want to risk losing them if you are unable to repay the loan. Getting your Unsecured Personal Loans online through Finance Monster is one path to successful borrowing.
Unsecured Car Loans and Personal Loans
This type of borrowing is ideal if you want a loan for a car purchase, or you need cash for any other reason. You might suddenly need to finance a trip away or buy goods for a new home, or maybe you need a cash injection to revamp your garden or help fund you or a relative’s study period.
Is an Unsecure Personal Loan right for me?
As with any loan, it makes sense to think properly before going ahead and borrowing money. Here are some factors to help you decide if an Unsecured Loan Australia is a good idea.
The Pros of Unsecured Loans:
1. No asset needed
The main advantage of Unsecured Personal Loans is that you do not need to use a current asset as security. This means it is less risky – no chance of losing your house or car if your repayments go wrong!
2. Easy access to money
This type of loan provides easy access to extra money you might need for a one-off purchase such as a car or renovations on your house, without the hassle associated with a Secured Loan.
3. Straightforward application process
It is typically really simple to borrow money this way. You can usually apply for your Unsecured Personal Loan online, as long as you have the correct documentation. Using Finance Monster’s 100% free service is certainly one of the most straightforward ways of accessing the money you need fast.
Our Best Personal Loan Rate
AVAILABLE FOR VERY LIMITED TIME
*The comparison rate is based on a loan of $25,000 for a term of 5 years. WARNING. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The Cons of Unsecured Loans:
1. Higher fees and interest rates
Because you are not providing security for your loan, lenders tend to charge higher fees and higher interest rates.
2. Limited loan amounts
With Personal Loans unsecured by assets, sometimes there is a minimum or maximum loan amount available. If you need a certain amount of money, you will need to shop around in order to find a loan of the correct amount.
3. Harsher penalties
Since there is no security asset on an Unsecured Personal Loan, your lender is within their rights to charge you hefty fees for late payments. They may take legal action against you, and you could end up in court if you default on the loan. Always read the small print to avoid any nasty surprises.
Pitfalls of Unsecured Loans
It is important to think carefully about getting a Personal Unsecured Loan in order to ensure you do not end up getting into hot water financially.
A Personal Loan unsecured by assets may be a risky option if you do not follow this advice:
- Have a foolproof repayment plan
- Only borrow from licensed credit providers
- Always check small print, including all fees and charges
- If in doubt, just ask!
Unsecured loans Australia
There are plenty of banks and financial institutions throughout Australia offering Unsecured Car Loans and other Unsecured Personal Loans. It is not hard to find this type of finance. However, unless you shop around and compare interest rates, fees and terms, you may not be getting a red hot deal! Finance Monster aims to find you a Personal Loan unsecured that is tailored to your personal situation so that you don’t end up biting off more than you can chew.
About Finance Monster
Finance Monster offers a 100% free service that is professional and easy to use. We are a top finance broker, with all the right tools to be able to compare the most competitive rates out there. Finance Monster only works with approved lenders and providers to ensure you do not fall victim to unscrupulous lenders.
Why get a Personal Unsecured Loan through Finance Monster?
In order to get a really great deal on your Unsecured Personal Loan, it makes sense to use the services of a professional broker rather than trying to search through all the loans available from all the financial institutions in Australia. We have great links to banks and great bargaining power. We will do our very best to get you a fantastic deal on your Unsecured Personal Loan.