WARNING — Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink or phone 1317 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
Whether it’s for unexpected bills or planned expenditures, our personal loan provides a quickand straightforward process.
To qualify for My Personal Loans, applicants must meet the following requirements:
Taking out a MyPersonal Loan involves a credit check that can affect your credit score temporarily.
Making repayments on time can positively influence your credit rating over time.
If you face difficulties with your repayment schedule, contact us immediately. We offer various solutions, such as adjusting your repayment terms or providing temporary relief options.
Additional funds can be requested once your current loan is either fully repaid or if you've maintained a good repayment history. Eligibility for additional borrowing will depend on your financial circumstances at the time of the request.
No, Mybond does not charge any penalties for early repayment. You are free to settle your loan ahead of schedule without additional costs, which can also reduce the total interest paid.
Your security is our priority. All documents are submitted through a secure online platform that uses advanced encryption to protect your personal and financial information.
A personal loan is an unsecured loan provided by financial institutions that can be used for various personal expenses such as debt consolidation, home improvement, medical bills, or special events. These loans do not require collateral, unlike auto loans or mortgages.
Personal loans involve borrowing a fixed amount of money which is repaid in monthly installments over a predetermined period, typically ranging from one to five years. Interest is charged on the total loan amount and varies based on your credit score and other factors.
Interest rates on personal loans can range widely, typically from as low as 4% to as high as 36% APR, depending on the lender, your creditworthiness, the loan amount, and the loan term.
Eligibility for a personal loan generally hinges on your credit score, income level, employment status, and financial history. Lenders assess these factors to determine your capability to repay the loan.
Most lenders allow early repayment of personal loans without penalties. It's advisable to check with your specific lender as some might impose a prepayment fee.
Consider your financial need for the loan, your ability to manage monthly repayments over the term, and ensure you shop around for the best rates and terms that suit your financial situation.
Applying for a personal loan affects your credit score initially due to the hard credit inquiry. Consistently making on-time payments can improve your credit score over time.
Secured personal loans require collateral, such as a car or house, which the lender can claim if you fail to repay the loan. Unsecured personal loans, while not requiring collateral, typically have higher interest rates due to the increased risk to the lender.
The disbursement time varies by lender but generally takes from one day to a few weeks from the application date until the funds are deposited into your account.
Failing to repay a personal loan can lead to damaged credit, increased fees, and potential legal action. If you struggle with payments, it's crucial to contact your lender to discuss possible alternatives or hardship options.
Call 02 7257 3504Support@mybond.com.au