Finty

Jacaranda Finance Unsecured Personal Loan

UnsecuredFixed rate

An unsecured loan is a personal loan that doesn't require any asset as security. It's a simple, flexible option if you prefer not to use a vehicle or other asset as collateral.

Written byDavid Boyd
Interest rate a year, from
27.95%
Comparison rate, from
44.50%
Establishment fee
$990
Monthly fee
$26
Borrow
$3,000 to $15,000

Monthly repayment

$15,000 over 3 years

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What it would cost

At the lowest published rate of 27.95%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$646
Total repayments
$23,258
Interest and monthly fees
$8,258

Loan details

Rates

Interest rate (a year)
27.95%–29.95%
Comparison rate (a year)
44.50%–46.50%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
$3,000 to $15,000
Loan term
25 months to 3 years
Establishment fee
$990
Monthly fee
$26

How it compares

Against the other unsecured personal loans we compare. Typical means the middle half of them.

Comparison rate

44.50%

From 44.50%. A typical loan starts at 10.56%.

Setup fee

$990

A typical setup fee is $213.

Monthly fee

$26

A typical monthly fee is $10.

Most you can borrow

$15,000

Typically you can borrow up to $50,000.

Longest term

3 years

7 years is the usual longest term.

Pros and cons

Pros

  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • A soft check on your rate. You can see the rate you'd get without it showing on your credit report.

Cons

  • A higher starting rate. Its comparison rate starts at 44.50%, above the typical 10.56%, so it's likely to cost more than most similar loans unless you're offered less.
  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 27.95% to 29.95%, and only some people get the starting rate.
  • A higher setup fee. $990, above the typical $213. It's usually added to the loan, so you pay interest on it too.
  • A $26 monthly fee. That adds $1,560 over 5 years, as well as the interest.
  • A lower limit. Up to $15,000, less than the typical $50,000, so it may not cover a larger purchase.

Similar loans

Unsecured loans from other lenders that start at a similar comparison rate.