Couple applying for a loan

Joint application personal loans

Get your application over the line or assume equal responsibility for finance. Find out the benefits of applying for joint personal loans.

Whether you’re looking to finance a car, home renovations or a holiday, there isn’t only one way to secure that financing. Applying for a personal loan as part of a joint application can help you tick more eligibility boxes than you can on your own. It’s also a way for you and your partner to assume equal financial responsibility for a large purchase.

Several lenders offer joint applicant personal loans. This guide will shed some light on these loans and how this type of financing works.

How do you apply for a joint personal loan?

You and the person you’re applying with will provide personal, employment and financial details as part of the application. This may be done in one application or in separate sections. The lender will consider the application details as a whole when considering both your eligibilities for the loan.

What are the important points to remember about these loans?

Before you start your application, there are a few things to consider:

  • If you are approved, you will assume equal responsibility for the loan with the person you are applying with. This means if either one of you becomes unable to repay, the other is still responsible for the repayments.
  • Both applicants will need to meet the criteria for the personal loan.
  • You may be eligible for a higher loan amount when submitting a joint personal loan application. It’s important not to take on more of a loan than you need or can afford, even if you are approved for it.
  • Joint personal loans are a serious responsibility. Consider the relationship you have with the person you’re applying with and their financial situation. Is their job stable? What is their credit history like? Are they likely to default? These are the things you will need to think about when taking on the responsibility of a loan.

HSBC Personal Loan Offer

HSBC Personal Loan


9.50 % p.a.

fixed rate


10.06 % p.a.

comparison rate

  • Competitive interest rate
  • Additional payments OK
  • Borrow up to $50,000
Security Logo

100% confidential application

HSBC Personal Loan Offer

Apply for a HSBC Personal Loan and you'll get access to a competitive interest rate offer and a flexible range of repayment options.

  • Interest rate from: 9.50% p.a.
  • Comparison rate: 10.06% p.a.
  • Interest rate type: Fixed
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $50,000
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Compare joint application personal loans

Use the table below to compare a range of loans you can jointly apply for.

Rates last updated May 27th, 2018
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
HSBC Personal Loan
From 9.5% (fixed)
1 to 5 years
A competitive fixed interest rate loan with the option to make extra repayments. Rates range from 9.5% p.a. to 15.99% p.a. based on your credit history.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
1 to 5 years
Convenient redraw facility and flexible personal loan repayment options with a competitive interest rate between 12.99% p.a. and 19.99% p.a.. If you borrow more than $10,000 to buy a new or used car, you'll receive a $200 fuel card. Note: Must apply before 28 June 2018.
CUA Secured Fixed Car Loan
6.79% (fixed)
1 to 7 years
A competitive car loan for new or used vehicles up to 7 years old that offers flexible repayment options and no account keeping fees.

Compare up to 4 providers

What are the benefits of applying with another person?

These loans are an option for several reasons, and they provide a variety of benefits. Here are some of the features:

  • Increase your chances of approval. If you are on a lower income, self-employed or just want to bolster your application, a joint personal loan can be a way to do it. The details of both applicants will considered by the lender.
  • Share an asset. If you’re planning to share the asset you’re purchasing, such as buying a car with your partner, a joint application could make more sense than one of you applying by yourself. Consider your own personal situation to decide what will work best for you.
  • Be eligible for a larger loan. You may be eligible for a larger loan if you apply with a partner. As you both agree to manage the repayments, the lender will consider the income and financial situation of both applicants when deciding how much to lend you.
  • Consolidate large debts. If you and your partner have large debts separately, you can both save by applying for a joint debt consolidation personal loan. Split the monthly repayment according to how much debt you contributed to the loan and benefit from the reduced interest and fees.

Which lenders offer joint applicant personal loans, and are there any conditions?

LenderJoint applications accepted?What personal loans can you apply for jointly?What conditions are there?
act.transparent--green-tickSecured and unsecured personal loansYou must be listed on the loan as a borrower to apply online and there can't be more than two applicants.
ANZtransparent--green-tickFixed rate, variable rate loans and car loansAll applications are subject to ANZ's normal credit approval criteria.
Aussietransparent--green-tickDebt consolidation, home renovation and car loansYou can apply as a married couple or a de facto couple.
Bankwesttransparent--green-tickCar loans and unsecured personal loansUp to two people can apply.
Bank of Melbournetransparent--green-tickSecured and unsecured loans, personal overdrafts and lines of creditIf the car you are using as security for the loan is in two names, you need to apply for the loan in the same two names.
BankSAtransparent--green-tickSecured and unsecured loans, personal overdrafts and lines of creditIf the car you are using as security for the loan is in two names, you need to apply for the loan in the same two names.
CashfirstUnsecured and secured loans for bad credit and self-employed
Citibanktransparent-red-cross --
CommBank transparent--green-tickVariable rate, fixed rate and secured car loansThe joint applicant must be someone who will directly benefit from the loan.
CUA transparent--green-tickFixed and variable rate personal loans.Up to four people can apply.
Fair Go Finance transparent-red-cross --
Gateway Credit Union transparent--green-tickSecured car loan and unsecured personal loanYou can apply, but you need to download and fax the application or call Gateway.
Latitude Financial Services transparent--green-tickSecured and unsecured personal loansUp to two people can apply.
IMB transparent--green-tickNew car loans, unsecured and secured personal loansYou need to be applying as married or de facto joint borrowers. loansUp to two people can apply.
Max Financetransparent--green-tickBad credit personal loansJoint applications accepted.
ME Banktransparent--green-tickUnsecured personal loan or car financeUp to two people can apply.
NABtransparent--green-tickUnsecured fixed and variable rate loans and car loansUp to two people can apply.
NRMAtransparent--green-tickCar loansUp to two people can apply.
RACVtransparent--green-tickCar loans, personal loans and debt consolidation loansUp to two people can apply.
Society Onetransparent-red-cross--
St.George transparent--green-tickSecured and unsecured loans, personal overdrafts and lines of creditBoth applicants must personally benefit from the loan.

Joint personal loans can be a convenient option, no matter what reason you’re applying for. Think about who you are entering into the agreement with, both you and their ability to manage the loan, and whether you’re taking on the right loan for the both of you.

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Personal Loan Offers

Important Information*
SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.49% with a SocietyOne personal loan.

Westpac Unsecured Personal Loan

A competitive, fixed rate personal loan that allows you to make extra repayments. Apply before 14 June 2018 and pay $0 establishment fee.

Harmoney Unsecured Personal Loan

Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 26.95% p.a.. based on your credit history.

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