Get the Finder app 🥳

Track your credit score


ClearLoans Personal Loan

Last updated:  

ClearLoans specialises in guarantor loans available to bad credit history applicants.

A ClearLoans unsecured guarantor loan has terms available up to 5 years. As it is guarantor based, people with bad credit history can apply as long as they meet the other criteria and demonstrate their ability to repay the loan. Compare the eligibility requirements as well as the features and interest rates that apply below.


Maximum loan amount

Next business day

Turnaround time

60 months

Term of loan

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .


Product NameClearLoans Personal Loan
Minimum loan amount$3,000
Maximum loan amount$15,000
Arrears Fee$0
Loan term60 months
Turnaround timeNext business day
Costs43% APR of borrowed amount
Available to Centrelink Borrowers?Yes

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here:

⚠️ 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.

How does a loan from ClearLoans work?

This loan is unsecured and charges an interest rate of 43% p.a. You're required to have a guarantor for this loan, so it is important that they are someone who you trust and who understand the risks and responsibilities of becoming a guarantor.

Applicants can request to borrow a minimum of $3,000 up to a maximum of $15,000. The terms that you can borrow are 1 year to 5 years, so it's important to consider if the guarantor will be available for the duration of the loan term.

Features of a loan from ClearLoans

  • Poor credit history applicants accepted. ClearLoans consider applications from people with bad credit, but they'll still need to meet other eligibility requirements and demonstrate the ability to repay the loan.
  • Guarantor loan. ClearLoans offers a guarantor model with this loan. This means that the guarantor will make payments if the applicant can no longer do so.
  • Turnaround. If the application is submitted and approved, the applicant can receive their funds within 24 hours.
  • Unsecured loan. This loan is unsecured, which means customers don't have to put an asset against it to borrow the money. However, they do require the security of a guarantor if repayments can't be made.

What are the risks of no credit check loans?

  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here - lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

Fees and charges

This card charges an interest rate of 43% p.a. to any outstanding balances. Unlike some other loans, it doesn't charge an establishment fee, late payment fees or early settlement fees.

How to apply

People can apply for a ClearLoans Guarantor Loan online but they'll need to meet the eligibility requirements and provide the necessary information.

Eligibility criteria

  • Age.Available to applicants aged between 18-75 years old.
  • Credit history.People with bad credit can apply but ClearLoans won't accept anyone who is currently or recently bankrupt or on a terminated Part IX Debt Agreement.
  • Guarantor.Must be able to find a suitable guarantor.

Required information

  • Loan details. This includes the desired loan amount and loan term as well as the purpose of the loan.
  • Personal details. Including the applicant's full name, date of birth, contact information and address.
  • Finances. Confirm income (including Centrelink payments) and employment status. ClearLoans will ask applicants to complete a budget plan to ensure that they can afford the repayments.
  • Guarantor. Provide information regarding the guarantor for the loan.

Once the application has been submitted, ClearLoans will send a link to the guarantor so they can complete part of the application. You can expect a response and, if approved, the funds within 24 hours of completing the application.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.


  1. Default Gravatar
    January 30, 2019

    My partner applied for a loan with this company and it’s been 4 days and she still hasn’t received her payment. She went to a common wealth bank and they said that this company is a fake and have reported it to the National Government to sort it out.

    • Avatarfinder Customer Care
      January 31, 2019

      Hi Ty,

      Thank you for reaching out to finder.

      You feedback is valuable to us. You may also file a complaint to the Australian Financial Complaints Authority (AFCA) or the Financial Ombudsman Service to assist you further on this. Hope this helps!


  2. Default Gravatar
    January 14, 2019

    Could i apply without a guarantee. As i have a boat worth 8 times the amount looking at borrowing

    • Avatarfinder Customer Care
      January 15, 2019

      Hi Ernest,

      Thank you for reaching out to finder.

      You may want to check on our page about secured personal loans by clicking this link. High-priced assets such as boats, motorbikes and jewellery are accepted by some lenders as a guarantee. Your item or collection of items is valued and then used as security, allowing you to take out the loan you need. You generally won’t find these loans at major banks. Hope this helps!


  3. Default Gravatar
    January 4, 2019

    When will my call be answered plz

    • Avatarfinder Customer Care
      January 4, 2019

      Hi Renae,

      Thank you for reaching out to finder.

      If you are pertaining to a loan application you have with ClearLoans, it may be possible that they are currently reviewing your application and may call you soon to provide a decision or ask for additional documents for them to complete their decision. If you wish to follow up on your application, you may contact ClearLoans directly to inquire. Hope this helps!


  4. Default Gravatar
    December 18, 2018

    Hi, I was going to sign up for a loan today. I had gotten to the page where I add in my bank details and I have decided not to go ahead with it as I cannot afford it. I see no cancel button. I just tried calling and waited for over 30minutes. It got through to somewhere (not in Australia) only for the call to be disconnected. What happens next?

    • Avatarfinder Customer Care
      December 20, 2018

      Hello Andy,

      Thank you for your comment.

      I am sorry to hear about the hassles that you’ve encountered in cancelling your application. To make sure that it’s been cancelled, you should get in touch with the lender, if not by phone, you may reach them through email or through forms found on their website. Just visit their website, then got to their contact us page.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  5. Default Gravatar
    December 7, 2018

    Hey my names deeanna. I’m just wanting to see when my next repayment date is

    • Avatarfinder Customer Care
      December 11, 2018

      Hi Deeqnna,

      Thank you for reaching out to finder.

      From the page we are on, you may click on the “Go to site” button to be routed to the ClearLoans page. Once there, scroll to the very bottom where you will see “Contact” Clicking on that will give you options on contacting them to check your next repayment date. Hope this helps!


  6. Default Gravatar
    November 12, 2018

    My daughter is after a guarantor. I said I would, but my income is low Centrelink plus part-time work. Is this going to be a problem?

    • Avatarfinder Customer Care
      November 13, 2018

      Hello Lisa,

      Thank you for your comment.

      According to ClearLoans, a guarantor will be asked to send their bank statements so they can make sure the loan payments are affordable. This is just in case the guarantor ever did need to step in and make payments. The guarantor will need to give ClearLoans a quick call to confirm his/her details, check that he/she understands the responsibilities and to arrange paying out the loan.

      Also, you, as a guarantor must meet the eligibility criteria such as below:

      Age should be between 18-75
      Must be an Australian resident
      Not a guarantor on another ClearLoan
      No ClearLoan

      I hope I was able to answer your inquiry. Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  7. Default Gravatar
    October 16, 2018

    Hi hi I’ve been accepted for a loan. I’ve tried to call the number use have provided 85667773
    No one is picking up, I have been on hold for 2 hours. I’ve hungup and tried calling all day. How do I go about getting in contact with someone. Is there an email I can contact use on or another number. Thankyou

  8. Default Gravatar
    September 20, 2018

    If you pay your loan back in full before the 60 months do you still have to pay all the interest?

    • Avatarfinder Customer Care
      September 20, 2018

      Hi Mel,

      Thanks for reaching out to finder.

      If you pay your loan early, you will only repay the amount that you borrowed and the interest accrued for the time you have the loan. Clearloans does not also charge any early termination fee if you settle your loan early.

      I hope this helps.


  9. Default Gravatar
    July 9, 2018

    Why do you need to access guarantor’s bank details, I have my grandmother as my guarantor and she is on a pension but owns her house.

    • Avatarfinder Customer Care
      July 9, 2018

      Hello Jenna,

      Thank you for your comment.

      Please note that with ClearLoans, loans are paid out into the guarantor’s bank account. This is to prevent fraud and give you the option of changing your mind before you transfer the money to the borrower. Although a guarantor does not have to be a homeowner, it may increase the possibility of accepting them as your guarantor if they do own their own home. Best to get in touch with ClearLoans directly so you can discuss more. I hope this helps.


  10. Default Gravatar
    July 5, 2018

    Can your spouse be your guarantor?

    • Avatarfinder Customer Care
      July 6, 2018

      Hello Maria,

      Thank you for your comment.

      According to ClearLoans, your spouse can be a guarantor. But if you have shared finance, they need to be extra sure that having the loan wouldn’t put either of you under any financial strain, and that you haven’t had any problems paying bills in the past. If you and your partner don’t have shared finance, then the normal rules apply and they can accept you as long as you meet their criteria.

      A suitable guarantor is someone who is aged 18-75, has a good credit history and can afford to make the monthly payments if you don’t. Your guarantor doesn’t need to be a homeowner, but if they are, they’re more likely to accept them. I hope this helps.


Go to site