$4,000 Loans at Competitive Interest Rates

Information verified correct on December 8th, 2016

Want $4,000 cash today? We tell you how you could be approved.

Do you have medical bills or tuition fees to pay? Do you want to take a holiday, undertake home renovations, or do you simply need some financial support to get by until you get back on track? In any case, you should be able to find a suitable $4,000 loan. There are a range of lenders who provide these kind of loans, from traditional banks and credit unions to non-traditional lenders. What helps is that you can find a lender willing to consider you for a loan even if you have poor credit. Read our guide on $4,000 loans below and find a lender who will best suit your needs.

What are your options for a $4,000 loan?

The lending market in Australia offers you various options when it comes to seeking a $4,000 loan, and finding out what your options are can help you narrow down on the right one. So what kind of loans can see you receiving $4,000 today?

Sunshine Short Term Offer

Sunshine Short Term Offer

This is a short term loan offer with a fast and easy online application for bad credit borrowers who are employed. You can apply today to get approved for up to $2,000.

  • Loan Amount: $2,000
  • Loan Term: 9 weeks
  • Turnaround Time: 30 Minutes - conditions apply
  • Total Cost of Borrowing $100: 20% of borrowed amount + 4% of borrowed amount each month
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks - Must be employed
    Rates last updated December 8th, 2016
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    Warning about Borrowing

    payday-warningDo 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: Phone: 13 17 94

    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.

    Rates last updated December 8th, 2016
    $
    Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
    Latitude Personal Loans (Unsecured)
    An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your count in as little as 24 hours.
    From 13.99% (fixed) 15.2% $3,000 2 to 7 years $250 (Loans under $4000 - $140) Go to site More
    HSBC Personal Loan
    A competitive fixed interest rate loan with the option to make extra repayments. Min. income $30,000
    From 11.99% (fixed) 12.54% $5,000 1 to 5 years $150 Go to site More
    CUA Discount Fixed Personal Loan (Loans over $30,000)
    Take advantage of a competitive fixed rate and no monthly fees when you borrow over $30,000
    From 10.99% (fixed) 10.99% $30,000 1 to 7 years $0 Go to site More
    St.George Get Set Loan Personal Loan
    A revolving line of credit that lets you access your funds as and when you need to.
    From 17% (variable) $5,000 $150 Go to site More
    ANZ Fixed Rate Personal Loan
    A flexible loan option that lets you pay off your debt, buy a car, fix up your house or cover travel costs.
    From 13.95% (fixed) 14.81% $5,000 1 to 7 years $150 Go to site More
    ANZ Variable Rate Personal Loan
    A variable rate loan that lets you make and redraw additional repayments.
    From 14.69% (variable) 15.55% $5,000 1 to 7 years $150 Go to site More
    Bank of Melbourne Unsecured Personal Loan
    An unsecured personal loan that gives you a choice between a fixed or variable rate.
    From 12.99% (variable) 13.87% $3,000 1 to 7 years $195 ($0 for existing customers) Go to site More
    BankSA Unsecured Personal Loan
    BankSA allows you to borrow up to $40,000 with your choice of a fixed or variable rate.
    From 12.99% (variable) 13.87% $3,000 1 to 7 years $195 ($0 for existing customers) Go to site More
    Rates last updated December 8th, 2016
    $
    Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
    IMB Secured Personal Loan
    A secured loan from IMB with flexible repayment features
    From 7.39% (fixed) 7.67% $2,000 1 to 5 years $199 Go to site More
    Latitude Personal Loan (Secured)
    Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.
    From 12.99% (fixed) 14.2% $3,000 2 to 7 years $250 (Loans under $4000 - $140) Go to site More
    RACQ Secured Personal Loan
    A fixed rate loan offering from RACQ with the ability to make extra repayments.
    From 9.45% (fixed) 10% $5,000 1 to 7 years $378 Go to site More
    St.George Secured Personal Loan - Fixed Rate
    Get behind the wheel of your perfect car with a competitive interest rate from St.George. Get an application response within 60 seconds.
    From 8.49% (fixed) 9.39% $3,000 1 to 5 years $195 Go to site More
    St.George Secured Personal Loan - Variable Rate
    A lower interest rate personal loan with flexible repayment options.
    From 12.74% (variable) 13.62% $3,000 1 to 7 years $195 Go to site More
    Bank of Melbourne Secured Personal Loan
    A low rate personal loan from Bank of Melbourne with variable or fixed option.
    From 8.49% (fixed) 9.39% $3,000 1 to 5 years $195 Go to site More
    • Payday loans

    A payday loan or cash advance loan normally refer to the same kind of personal lending facility. These loans are unsecured in nature, and they attract fixed interest rates given their typically short loan terms. Repaying these loans might require you to set up automatic repayments in advance, and your repayments are usually lined up in accordance to your paydays. As the loan is for a larger amount, $4,000, you'll likely be offered longer terms than some payday loans, which by law can only be as short as 16 days.

    • Unsecured personal loans

    Unsecured personal loans offer longer loan terms when compared to payday loans, and in case of a $4,000 loan you can expect terms of up to three years. These loans can attract fixed or variable interest rates. While fixed rate loans offer the benefit of stable repayments through the course of the loan, variable rate loans allow you to benefit from interest rate cuts.

    • Secured personal loans

    This loan type usually offers the most competitive interest rate, which can be fixed or variable. To secure the loan you can provide security in the form of home equity, a vehicle, or a term deposit.

    • Bad credit loans

    While most lenders conduct credit checks before they approve loans, this is not always the case. This means you can look for a $4,000 loan irrespective of what your credit file looks like. Lenders who offer bad credit loans look at your existing financial circumstances as well as your ability to make timely repayments. These loans are usually unsecured, so you don’t have to worry about providing collateral. What you should know, though, is that these loans attract high interest rates and normally won’t offer much in the form of flexibility.

    • Overdraft/flexible loan

    An overdraft or flexible loan is not the same as a conventional loan, and it allows you to withdraw funds until you reach an agreed limit, which, in this case, is $4,000. With such a loan, you only pay interest on the outstanding balance and not the entire credit limit. If you don’t need the entire $4,000 all at once, this type of loan can help you save in the form of interest.

    What you should be considering when comparing $4,000 loans

    Once you've decided on the best type of loan that will suit your needs, the next step is comparing your loan options from different lenders. Here are some things to keep in mind when comparing:

    • What is your Interest rate going to be?
      Interest rates can vary considerably even with the same kind of loans, and this is especially true of bad credit loans. The interest rate can be a good indication of how competitive a loan is, so is an important aspect to take into account.
    • What fees and charges are in your contract?
      When you take a $4,000 loan you will always end up paying back more than that and the interest it attracts. This is because of the fees and charges you have to repay through the course of the loan. These can include application fees, establishment fees, monthly service fees, and settlement fees. If you miss any of your repayments, you can also expect to pay late payment penalties.
    • What kind of repayment options available?
      Many lenders allow you to choose between making weekly, fortnightly, and monthly repayments, so you're able schedule your repayments according to when you get paid. Some lenders allow you to make extra repayments without charging any penalties, and some allow you to pay the entire balance ahead of time without penalising you in any form. In some cases, you might have to pay a fee if you pay the entire amount ahead of time, so check all the charges that apply before doing so.
    • Can you get access to redrawing funds?
      If a lender allows you to make extra repayments on your loan, find out if you can access to these funds through a redraw facility. This facility may attract a fee and come with set withdrawal limits.

    How you can increase your chances of being approved

    While there is no telling for certain if a lender will approve your application or not, a little caution on your part can definitely increase the possibility of a successful application. Read through the following before you apply:

    • Make sure you're eligible for the loan

    Applying for a loan when you’re not eligible will lead to a rejected application, and this can have a negative impact on your credit score. The eligibility criteria for the $4,000 loans compared on finder.com.au is listed on the review pages, so you can confirm if you meet this eligibility criteria before you click 'Go to Site' in order to take the next step towards applying. Things to confirm include: minimum age requirement, minimum income, credit history requirement, residency status, employment status, and any specifications regarding your receipt of Centrelink payments.

    • Think you know what's on your credit file?

    Did you know that errors can creep into your credit file, and these can reflect poorly on your creditworthiness? It can help to go through your credit file before applying for any kind of credit by ordering a free copy online. If you find errors ensure you take these into account before applying. That is, consider whether your credit history is still considered 'good'.

    • Limit your applications

    Your credit file will show just how often you apply for credit, and when you apply for credit often, prospective lenders may view this in a negative light. As a result, compare your options well before you apply and keep the applications to a minimum.

    Important considerations

    Making repayments

    You should think about how you’ll go about making repayments even before you apply for a $4,000 loan. When you don't make timely repayments your credit file can be adversely affected, and you’ll also have to deal with late payment charges. Besides, the longer you take to repay the loan, the more you might have to pay in the form of interest.

    A simple way of establishing what your repayments will look like is to use a loan repayment calculator. Start by identifying if you wish to make weekly, fortnightly, or monthly repayments, and then enter details such as the loan amount, loan term, and interest rate.

    Calculate repayments on your $4,000 loan

    If you're applying for a $4,000 loan:

    Know what helps

    • They offer varied loan terms.
      With loan terms varying between 16 days and seven years, you can opt for one as per your financial needs and situation.
    • Apply online with ease.
      The online presence of most lenders helps simplify the entire process. You can start by applying online, and you can keep track of the loan online, as well.
    • Some loans have no credit checks.
      Individuals who cannot get conventional loans because of poor creditworthiness have the option of lenders that don’t require credit checks, or of those who do but will consider bad credit applicants regardless of their history.

    Know what does not

    • Steep interest rates.
      Certain loan types, like bad credit loans, tend to attract higher interest rates, so think twice before applying for such a loan. Unsecured loans traditionally charge higher interest rates as well when compared to their secured counterparts.
    • Higher repayments.
      When you combine higher interest rates with shorter loan terms, the result is increased repayments. Consider if these repayments will be affordable before you take the loan on.
    • Dubious lending.
      The number of online lenders in Australia is on the rise, and this field is not devoid of its share of disreputable lenders. Certain lenders may exploit people with poor creditworthiness through exorbitant fees and rates, so ensure any loan you take on is competitive and that the lender holds a reputable place in the market.

    What to avoid with $4,000 loans

    Taking any kind of a loan can come with its share of pitfalls, so it’s best that you avoid the following:

    • Don’t end up getting a loan that you can’t repay. Make sure you have a plan in place when it comes to making repayments.
    • Avoid taking out a bad credit loan if you have access to other loan options. High fees and inflexibility are two reasons ASIC cites when warning borrowers against such loans.
    • Avoid taking the first loan that comes your way— remember to compare your options to ensure you take on one that is the best for you, and that is the most competitive.

    Questions everyone has about these loans

    How do I go about applying for a $4,000 loan?

    Start by comparing your options on this page. Once you find a loan you want to apply for, click the ‘Go to Site’ button to take find out more about applying or to fill out an application form.

    What options do I have when it comes to repayment methods?

    In some instances, you will have to set up direct debits through your salary or a bank account. Other repayment methods some lenders offer include making payments via online funds transfer, Australia Post, BPAY, and via cheque.

    Do such loans offer loan protection insurance?

    Certain personal loans give you the choice of getting loan protection insurance as an optional extra.

    Can unemployed individuals get $4,000 loans?

    Lenders look for some form of guarantee before they approve loans, and if you’re unemployed you might have trouble in meeting their minimum income requirements. If a large portion of your income comes via Centrelink  benefits, you could still qualify. As mentioned previously, check the eligibility requirements before applying to ensure you're eligible.

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    2 Responses to $4,000 Loans at Competitive Interest Rates

    1. Default Gravatar
      storm | June 19, 2015

      Can I make a loan of 4000 dollars

      • Staff
        Matt | June 22, 2015

        Hi Storm,

        Thanks for your comment, but you’ve left it on finder.com.au – an online comparison service, not a lender.

        If you’d like to compare loan options, use the table above and then when you’ve found a lender, click through to their site with the green button.

        I hope this helps you.

        Cheers
        Matt

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