Frequently Asked Questions
Q. What documents do I need
to support my application?
For a personal loan you will need to provide with your application, current:
- Drivers Licence and Photo ID with signature.
- Proof of income
.
- Bank statement
showing BSB and Account Number with 2 months of transactions.
- Vehicle registration certificate. This is supplied in the mail with your windscreen label. Unfortunately renewal
notices are not acceptable if they don't display the vin\chassis, engine number
and registration number.
Q. How long will it take to
process my personal loan? Approximately 1 hour.
Q. How much can I borrow?
This will depend on your current financial commitments. We tailor your borrowing
requirements to suit your lifestyle and available money to make repayments.
Q. What can I borrow the money for?
We provide finance for almost anything.
Q. Do I need to be working to get a
personal loan?
To meet our initial criteria you need to be employed / pensioner earning above
$400.00 per week net.
Q. What if I'm self-employed?
You need to have been self-employed or a sub-contractor for a minimum of 1 year.
Q. What if I'm on a pension?
As long as you're earning above $400.00 per week net, you can apply for a
personal loan.
Q. How long can I take a personal loan
for?
From One Week to Nine Months.
Q. I want to consolidate debts. Can I?
Australian Lending Corporation personal loans can be used to consolidate debt
for various reasons, however we are not able to consolidate accounts that are
over their agreed credit limit or are in arrears.
Q. Will my chances be affected if I have a
default?
If you are currently bankrupt, we cannot accept an application. If you have had
a credit blemish in the past, then we may be able to process your application.
Q. If my personal loan application is
successful, when can I get my money?
If your personal loan application is successful, funds can generally be provided
to you the same day.
Q. What are your interest rates for
personal loans?
Our interest rates for personal
loans are at a low fixed rate for the term of the loan.
Q. Do I have to offer security to secure my personal loan?
Clients are required to offer some form of security, this includes:
-
Motor Vehicle
-
Truck, Caravan, Jet Ski, Boat, Motor
Bike (must be registered)
Q. How can I improve my chances of getting an approval on a personal
loan?
You can improve your chances of getting an approval by
having a second applicant on the application.
Q. How much do I have to pay back on a personal loan?
Australian Lending Corporation will tailor Clients repayments and terms to suit
them at what they can comfortably afford to repay, their level of income and
expenditure will also determine affordability. Some of our clients like to pay
out their loans rapidly, while others prefer to reduce their repayments, thus
increasing the term of their loan. There are no penalties for making lump some
payments repaying your loan sooner or increasing your repayments. ALC Finance is
very flexible with a Clients repayment plan.
Q. How do I make repayments on a personal loan?
Repayments are made via Direct Debit however you can pay
extra using our Bpay facility; Internet Banking; Automatic Funds Transfer;
Cheque or Money Order through the Mail; Direct Deposit, or via Credit Card over
the phone with one of our friendly consultants. You can also tailor your
repayments around Payday, Weekly, Fortnightly or Monthly.
Q. How do I know when my personal loan is repaid?
ALC Finance will send a letter acknowledging receipt of a clients final payment
and congratulations to them, our Level One Credit Rating will entitle Clients to
preferential status and as an established client are able to seek additional
funds upon request.
Comparison Rate 48% WARNING:
This comparison rate applies only to examples given and may not include all fees
and charges. Different amounts and terms will result in different comparison
rates. View comparison rates.
With a variety of Credit Providers available we can find the right loan for you.
|