ClearLoans Personal Loan

Need a loan but concerned about your credit history? Clearloans specialises in guarantor loans available to bad credit applicants.

A loan from Clearloans can give you the financial freedom to take care of your bills until payday or make a large purchase, even if you have bad credit. This unsecured guarantor loan has terms available up to 5 years and is available to people who have a bad credit history because it is guarantor based.

Product NameClearLoans Personal Loan
Minimum Loan Amount$3,000
Maximum Loan Amount$15,000
Arrears Fee$0
Loan Term60 months
Cash Deposited InNext business day
Costs43% APR of borrowed amount
Available to Centrelink Borrowers?No


  • Loan terms up to 5 years
  • Bad credit applicants considered
  • No early repayment fees


  • High interest rate
  • Must have a guarantor
  • Be between 18-75 years old
  • Cannot be currently or recently bankrupt
  • Have a suitable guarantor

How does a loan from Clearloans work?

This loan is unsecured and comes with an interest rate of 43% p.a. You’re required to have a guarantor for this loan, so it is important that you have someone who you trust, and who understands the risks and responsibilities of becoming a guarantor.

The minimum amount you can borrow is $3,000 and the maximum is $15,000. The terms that you can borrow are 1 year to 5 years, so if you’re using a guarantor that you don’t see sticking around for the duration of your loan, consider picking someone else.

Features of a loan from Clearloans

Some of the features of a loan from Clearloans include:

  • Poor credit history. If you’ve been denied a loan before due to your less than desirable credit history, that’s not something that you need to worry about with Clearloans. It will consider you for a loan even with poor credit.
  • Guarantor loan. Clearloans offers a guarantor model with this loan. This allows someone who you trust to guarantee that they will make the payments if you’re no longer able to (so make sure you pick someone who is able to take on this responsibility).
  • “Top up” of your loan principal. Clearloans offers existing customers the chance to borrow more money. This works by you borrowing on top of what you already borrowed, giving you access to more credit.
  • Quick turnaround. The loan application process aims to be completed by the next business day or within 24 hours of your application.
  • Unsecured loan. Although this loan is unsecured, which means you don’t have to put an asset against it to borrow the money that you need, you still have the security of a guarantor if things go bad. Not that you should solely rely on them for your payments, but it’s a nice safety net to keep in mind.
  • Few to no fees. There are no set-up fees, no late repayment fees and no early settlement fees offered on this loan.

Fees and charges

Here are some of the fees and charges you can expect with this loan:

  • No set-up fees, such as an establishment fee.
  • No late payment fees.
  • No early settlement fees.

However, if you are unable to pay this loan off and Clearloans are unable to get a payment, the guarantor of the loan is responsible for the repayments.

Are you eligible for a Clearloans loan?

  • You must be between 18-75 years old
  • You cannot be currently or recently bankrupt
  • You must be able to find a suitable guarantor

How you can apply

The application process for this loan is as follows:

  • Click on “Go to Site” and apply online.
  • You will be asked much you want to borrow over how many months. You will also be asked to fill out a budget plan to ensure that you can afford the repayments.
  • A link is then sent to the guarantor of the loan as they have to complete a part of the application as well, as well as filling out a budget plan.

Once you have filled in your application, you can expect your application to be approved and funded within 24 hours.

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21 Responses

  1. Default Gravatar
    LisaNovember 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?

    • finder Customer Care
      JhezelynNovember 13, 2018Staff

      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.


  2. Default Gravatar
    BreeOctober 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

  3. Default Gravatar
    MelSeptember 20, 2018

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

    • finder Customer Care
      CharisseSeptember 20, 2018Staff

      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.


  4. Default Gravatar
    Jenna-LeeJuly 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.

    • finder Customer Care
      JhezelynJuly 9, 2018Staff

      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.


  5. Default Gravatar
    MariaJuly 5, 2018

    Can your spouse be your guarantor?

    • finder Customer Care
      JhezelynJuly 6, 2018Staff

      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.


  6. Default Gravatar
    ArmantiMarch 20, 2018

    Im in need of a loan to consolidate my bills for the next few months. I have bad credit at the moment. I would like to apply but I do not want to waste my time and further getting my credit hit and pushed down even further if Im not going to receive the amount needed to consolidate my bills. Is this the right place for at least a $5000 loan with poor credit?

    • finder Customer Care
      NikkiMarch 26, 2018Staff

      Hi Armanti!

      Thanks for your questions for visiting finder.

      We hear that you are concerned about getting a personal loan to consolidate your bills.

      You’re on the right track! You can look for unsecured personal loans to consolidate your bills for the next months even if your credit is not at its best now.

      Another way to make sure that your plan will work for you, you can try using our debt consolidation calculator. These tools will work out what debt consolidation option is the best avenue for you to go down. Simply input the amount you want to consolidate, the frequency of your repayments and the applicable interest rates and the calculator will show you how much you’ll need to pay each month.

      Also, ensure that you meet all the eligibility criteria and which bills you can consolidate in one loan.

      Should you need further details, feel free to message us anytime.

      Thanks and best regards,


  7. Default Gravatar
    LouieFebruary 20, 2018

    I cant talk to anyone at clear loans because no one answers i need to speak to someone asap im starting to think this is a scam ive provided everything that they asked so whats going on.

    • finder Customer Care
      JonathanFebruary 21, 2018Staff

      Hi Louie, please contact ClearLoans directly on:

      03 8566 7773
      9am – 9pm (AEST) Mon-Fri



  8. Default Gravatar
    CarolDecember 24, 2017

    Clear loans advised me that money was credited to bank account on Thursday night and no said money has been deposited

    • Default Gravatar
      ArnoldDecember 28, 2017

      Hi Carol,

      Thanks for your inquiry

      It would be best to contact Clear loans directly and request for the transaction number in order for you to verify with the bank if the transaction went through.

      Hope this information helps


  9. Default Gravatar
    December 13, 2017

    Hi I had applied loan since last week I haven’t receive any response yet what happen?

    • finder Customer Care
      HaroldDecember 14, 2017Staff

      Hi Jack,

      Thank you for your inquiry.

      Generally, your application will take you 10-15 minutes to complete. Once you have sent your details you’ll be given a decision on your application from the lender and you could have the money in your account within 24 hours. Should you not receive an update from the lender you can always call them directly to get an update about your loan application.

      I hope this information has helped.


  10. Default Gravatar
    russellDecember 11, 2017

    Hi I applied for a loan last week an haven’t heard anything as I got approved thanx

    • finder Customer Care
      HaroldDecember 11, 2017Staff

      Hi Russell,

      Thank you for your inquiry.

      Generally, your loan application process aims to be completed by the next business day or within 24 hours of your application. Should you need to follow-up your car loan application you may need to call directly ClearLoans to verify the status of your application.

      I hope this information has helped.


    • Default Gravatar
      December 12, 2017

      Hi i applied for the loan last thursday an havent heard anything can u give me an answer please thanx russell

    • finder Customer Care
      MayDecember 12, 2017Staff

      Hi Russell,

      Thanks for getting in touch with finder.

      If you’ve applied for a loan with Clearloans, the turn around time is usually quick. They process your application by the next business day or within 24 hours of your application. If you need to follow up your application status, please contact them directly by going to their site. Please click the green ‘Go to site’ button above to be redirected.


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