We all need a helping hand at one point or another, and that’s what guarantor loans Australia are all about. If you’ve found it challenging or impossible to get approved for loans on your own, then you’ll probably have better chances with a guarantor loan.
With guarantor loans Australia, you enlist the help of someone responsible and trustworthy in your life to open the doors to borrowing for you. Here’s everything you need to know about guarantor loans in Australia.
Guarantor loans are types of personal loans that you take out with someone else, usually a family member who promises to pay your debt if you’re unable to repay it.
They’re an alternative option if you struggle to get a loan independently, often due to having no credit history or having a low credit score. When someone backs you up, they act as a safety net for the lender, effectively guaranteeing the loan as you both become legally liable for the loan.
When you take out a guarantor loan and fail to keep up with repayments or default, the guarantor becomes responsible for repaying the total outstanding balance. Since it’s such a big ask for a family member or friend, it’s crucial to ensure you can afford to repay before taking out the loan.
You can apply for a guarantor loan at Gdayloans.com.au, and you take out the loan under your name. The guarantor will also go through an approval process to ensure they can afford to repay the loan on your behalf if you default. It ensures they’re qualified and aren’t named a guarantor without their consent.
The guarantor needs to have stable finances and good credit history to qualify. You’ll both have your signatures on the loan agreement, with the guarantor’s signature acting as a form of security.
Through Gday Loans, you get access to reputable lenders who offer guarantor loans from $100 to $5,000 with a 0% interest rate on loans below $2,000. The better the financial standing of the guarantor, the better the terms, interest rates, and loan amount you’ll get.
If you have a bad credit score, a bad credit guarantor loan is an excellent option to get the funds you need. Guarantor loans bad credit are easier to get for borrowers with a less than perfect credit score because the lender has less risk when you incorporate a family member or friend in the loan.
Provided you’re eligible, and your guarantor has a good financial standing and credit score, you can easily qualify for guarantor loans bad credit in Australia among lenders at Gdayloans.com.au.
Unlike traditional lenders like banks, lenders will not focus on your past financial issues. Instead, they assess your current affordability based on monthly income and expenses and how you handle your finances now.
If you’ve found it a challenge to get loans because of your credit score, bad credit loans can help you out. They’re suitable for all kinds of financial needs, including emergencies and sudden expenses. They’re usually small amounts that are easy to repay and will help you improve your credit score so you can get funded independently in the future.
Guarantor personal loans are a type of instalment credit where you get a lump sum deposited into your account when you qualify and get approved. You’ll then pay the amount back plus interest over the chosen term in monthly instalments until you settle the loan.
Lenders at Gday Loans offer personal loans from $100 to $5,000, and you get to choose a repayment period of 2 to 24 months. You can use the funds however you like without restriction, and they can suit several financial needs and demands.
Guarantor personal loans are suitable for medical bills, household repairs and renovations, moving expenses, funeral costs, vehicle servicing and repairs, and other expenses like buying a computer.
No credit check guarantor loans allow you to borrow money in Australia without being subjected to hard credit checks. They’re suitable to those without a credit history, like students or those who simply don’t want lenders prying into their credit history.
With this option, the lender will only assess your monthly income vs. expenditure, and the guarantor’s to determine affordability. They’re usually small amounts paid out quickly since you get to borrow money without worrying about a credit check.
At Gdayloans.com.au, lenders offer no credit check guarantor loans from $100 to $2,000. Your guarantor can help you qualify for higher amounts of up to $5,000, and you’ll get a fixed interest rate for the loan duration.
If you’ve thought you couldn’t get a loan because you’re not formally employed, think again! At Gday Loans, you’ll access understanding lenders who don’t discriminate against any Australian.
Having a guarantor co-sign your loan will quickly get you the funds you need within hours, even without a traditional job. You’ll still need to prove an alternate source of income and affordability but having a guarantor makes the process much easier.
Lenders can quickly approve your request because the guarantor can step in and make repayments when you can’t. Unemployed borrowers can get cheap unemployed guarantor loans of up to $2,000 with no interest rate attached. Incorporating a guarantor makes it easier to qualify for even higher amounts of up to $5,000.
Most guarantor loans are unsecured, but you can also find lenders who offer secured guarantor loans. In such instances, the lender may require that the guarantor be a homeowner or have some other property used as security or collateral for the loan.
Having a guarantor plus security significantly improves your chances of qualifying for a loan at better terms. The risk for the lender is lower, but it’s higher for the guarantor since they can lose their property if you default or fail to make repayments.
The property can be repossessed and sold to recover the outstanding balance. At Gday Loans, lenders offer secured guarantor loans of up to $5,000 with 2 to 24 months to repay and very favourable interest rates. They’re suitable for large projects, emergencies and sudden financial needs.
Loans with a guarantor online Australia at Gdayloans.com.au feature flexible amounts to ensure you can borrow manageable amounts that suit your needs. Borrowing more money than you can repay is only looking for trouble. At Gday Loans, you can choose from $100 to $5,000, depending on your needs and affordability. You must scrutinize your monthly income and expenses before deciding what to borrow to avoid getting into financial strain.
When you apply for loans with a guarantor online Australia at Gday Loans, lenders will let you choose a repayment term from 60 days to 24 months. However, lenders can also set their terms depending on your affordability. Rest assured, you’ll get some of the best terms on guarantor loans in Australia, ensuring they’re easy to repay, so you don’t stay indebted for long.
Working with a trustworthy and transparent lender is crucial for your peace of mind. Gday Loans collaborates with Australia’s finest, most reliable and reputable lenders. All our lenders have valid licenses and good reviews from previous and current customers. They all adhere to the Australian Securities and Investments Commission (ASIC) regulations.
Gday Loans features an easy online loans process that brings you the ultimate convenience of borrowing money online anywhere in Australia. You can complete the user-friendly online application form in a few minutes with no paperwork necessary!
All lenders are transparent about their charges and interest rates, and they’ll never try to hoodwink you or catch you off-guard. Following ASIC regulations, you’ll not pay any interest rate on loans below $2,000. With higher amounts, you can expect to pay interest from %.99% to 35.99%, and you can get the lowest rates possible as lenders compete to remain competitive. Charges you can expect may include an establishment, a monthly fee or late repayment penalties.
|
Lender |
Loan Amount |
Payment Terms |
Amount to Repay |
Loan Cost |
|
Swoosh Finance |
$2,000 |
Weekly |
$3,016 |
$1,016 |
|
City Finance |
$3,000 |
Weekly x 35 |
$3992.10 |
$992.10 |
|
Signo Loans |
$2,600 |
Monthly x 12 |
$2,772.72 |
$172.72 |
Lenders at Gday Loans do their best to ensure you get the funds you need within hours after approval. Unlike traditional lenders, they’ll not keep you waiting more than 24 hours!
Quick And Easy ApplicationInstead of wasting time looking for branches or physical storefronts, you get a great digital experience through Gdayloans.com.au. All you need to do is fill out the online application form in a few minutes and get the funds you need without any red tape.
Flexible Repayment SchedulesYou’ll get t0 to choose a suitable repayment schedule according to your budget and lifestyle when you apply for guarantor loans through Gdayloans.com.au. You can decide to make repayments weekly, fortnightly or monthly, making repayments more manageable.
Getting instant funds when you need money can come at a higher interest rate, especially if you have a less than perfect credit score. Since you’re likely considered higher risk by most lenders, the convenience is usually worth the cost.
You must meet the following criteria to qualify for guarantor loans in Australia:
Be at least 18 years of age. Have Australian citizenship or permanent residency. Have valid identification. Have a home address in Australia. Have a valid bank account in your name. Get over 50% of your income from non-Centrelink sources.Applying for guarantor loans through Gdayloans.com.au is straightforward. Simply follow the following steps:
To expedite the approval process, gather the necessary documents for verifying your details and information. These can include your ID, proof of residence and proof of income.
The next step is capturing your details by completing the online application form at Gdayloans.com.au. Simply choose the amount you need and an applicable term and fill in your personal, banking and financial information. You’ll also capture your income and monthly expenses to show you can afford the loan and click submit.
Once you submit your application, you’ll get feedback within 2 minutes! Once a lender approves your request, you’ll be connected to them directly to finalize the process. They may request additional documentation to verify your information at this point. Ensure you ask as many questions as possible.
Once they’ve verified your information, they’ll send a loan agreement for you to review and accept. Go over it carefully and once you’re satisfied with the terms and conditions, sign and return it.
Once you’ve returned the loan agreement, the lender will disburse the funds approved as soon as possible. You can expect the money within hours on the same day or the next business day at the latest.
Through Gday Loans, you can find lenders who offer guarantor loans from $100 to $5,000, depending on your affordability. A guarantor makes it possible to qualify for higher loan amounts than you would on your own.
Yes! You can qualify for a guarantor loan even without formal employment among lenders at Gday Loans. You can get a guarantor loan as a Centrelink customer on benefits, pensions, or disability.
Lenders at Gday Loans are very speedy with the payouts, and you can expect to get funded within hours after finalizing the agreement. To ensure you get funded within the same day, apply as early as possible to avoid cut off times.
Yes! Provided you’re not financially linked already, any of your family and friends can act as your guarantor.
Applying for a guarantor loan will not affect your credit score. If you pay back on time and in full, your credit score will only be positively impacted. Therefore, ensure you only borrow what you can afford to repay.
Check your options before you borrow:
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.