What you need to apply for a personal loan
Applying for a Personal Loan: Everything You Need to Know
If it’s your first time applying for a personal loan, you might be a bit overwhelmed by all the documents and information you need to supply. Don’t worry, you’ve got this — and we’re here to help support you along the way.
We’ll go through all the information you need to provide your lender, plus, we’ll go over a few personal loan basics to answer some more common questions. If you’re confused or need some more personalised help, you can always get in touch with someone on our team who can help you along.
Now, let’s get started with the basics of applying for a personal loan.
Personal loan applications 101
Before we get into the nitty-gritty of exactly what you need to supply your lender, you’ll want to make sure you can answer ‘yes’ to some basic questions . These are questions that People’s Choice will ask
- Are you aged 18 years or older?
- Are you an Australian citizen, or otherwise a permanent resident in Australia?
- Applying for a personal loan will trigger a credit check, which may have impacts to your credit score — are you ok with that?
If you answered yes to all of those, you’ve already passed the first hurdle. Success!
If you didn’t answer yes to all of them, you might have trouble applying for a personal loan. There are some things that lenders can’t budge on, for example, the minimum age for a personal loan in Australia is 18 years old. (more…)