
Get exclusive money-saving offers and guides
Straight to your inbox
Updated . What changed?
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Whether you’re planning on making your permanent residence here in Australia or you're just here to work for a few years, you still might find yourself in need of a personal loan. There are banks and lenders that will consider you for a loan even if you aren't a permanent resident. However, it's important to know what loans you're eligible for and how to find the right one for you before you submit your application.
Yes, temporary residents are eligible for personal loans in Australia. However, it's likely you will have to meet additional criteria in order to be eligible. This may include a higher minimum income requirement. You will also need to be on a certain type of visa, according to the lender's requirements, and the term of your loan cannot exceed the time left on your visa.
There are a number of banks and lenders in Australia who consider applications for personal loans from people that have a temporary resident visa.
So you can have all the tools at your disposal, these are the eligibility requirements for most Australian brands that offer personal loans to temporary residents. Keep in mind lenders will still consider applications on a case-by-case basis.
Lender | Eligibility requirements | Visa requirements | Review personal loans |
---|---|---|---|
NAB |
|
| NAB Personal Loans |
ANZ |
|
| ANZ Personal Loans |
Commonwealth Bank |
|
| CommBank Personal Loans |
Fair Go Finance |
|
| Fair Go Finance Personal Loans |
Westpac |
|
| Westpac Personal Loans |
Personal loans for temporary residents work in the exact same way as a personal loan for a permanent resident. The only thing that will be different is the eligibility criteria. For a temporary resident, such as an individual on a work visa, extra criteria need to be met in order to qualify.
Most lenders will need the details of your visa before you are approved to ensure that the terms of the personal loan do not exceed the amount of time left on your visa. You may also need to meet higher minimum income criteria or show extra credentials. One advantage of applying for a loan in Australia is that your overseas credit history is not a factor.
When comparing your options, be sure that you consider the following points:
There's no way to make sure you're approved for a personal loan, but a way to give yourself the best chance is to ensure you meet all of the minimum eligibility criteria.
Minimum criteria for personal loans usually stipulates:
The right loan will depend on your needs and situation, so starting a comparison using the table above can help you narrow down your choices.
You can click through to the review pages from the table above and once you've found a loan you're eligible for and that you want to apply for, click "Go to Site" to submit your application.
Earn Altitude rewards with Westpac’s Altitude Platinum credit card, while enjoying the benefits and privileges of platinum status.
This low rate credit card has a $0 annual fee and is available to firefighters and other service workers or volunteers.
Pepper Money is an Aussie non-bank lender that offers a vast range of personal loans and home loans to customers Australia-wide. Find out more here.
Find out more about Handypay's personal loans for home improvements. Personalised rates start from 6.75% p.a. on terms from 1 to 7 years.
Take advantage of a 0% balance transfer offer for 30 months and a discounted annual fee for the first year with this Citi Rewards credit card offer.
Find out more about Pepper Money's no fee personal loan and benefit from a competitive rate from 6.95% p.a., zero fees and loan terms of up to 7 years.
Get an introductory rate of 7.9% p.a. on purchases and balance transfers for 6 months and save with an ongoing $0 annual fee with the Health Professionals Bank Credit Card.
Looking to renovate your home? Find out more about Brighte's personal loan for home improvements and ways in which it may be able to benefit you.
This card gives you a way to support a program that matches rescue dogs with veterans in need and enjoy a low interest rate on all your spending.
Whatever your business loan requirement, ebroker may be able to help. With a range of loan options from over 70 bank and non-bank lenders compared on-site, could you find the right loan for your business?
Are there any banks that will lend to a person on VISA 461?
Hello Katie,
Thank you for your comment.
The banks and lenders listed above are those who consider people on a VISA 461. As long as you meet the eligibility criteria and you have a proof that you are capable for the repayment, you can then apply. Just click the Go to Site button to apply.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
My partner is currently on bridging visa( no current end date on visa). Has a great income coming in, need to buy a car loan no more than $10,000. Who can help us?
Hi Katrina,
Thanks for your inquiry
Actually, the page above shows your best options in landing a personal loan for a car. Please check out the temporary resident personal loan options portion of the page. Please do take note that these banks have different eligibility requirements that you must know before applying for a loan.
Hope this information helps
Cheers,
Arnold
Hi Good Morning. Just want to ask if i could get a car loan i am 457 visa holder but will apply my pr this month. Can i apply for a car loan while i am on a bridging visa (class wa). I have a loan right now while im on a 457 visa but my loan will be fully paid next month. Im just wondering if i could get another loan while on a bridging visa while waiting for my p.r. Thank you
Hi Noel,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
Yes, a select number of lenders will allow student and bridging visa holders with stable incomes to borrow, however, there may be stricter eligibility rules involved in these cases.
Although car loans are usually restricted to PR and citizens, migrants on a 457 may have a better chance of being approved for car loans so long as they meet certain financial conditions.
You may compare your options from here for car loans. Please click on the name of your preferred lender to check its eligibility criteria and get more info. Then you may click on the ‘Go to Site’ button to submit an online application.
Hope this information helped.
Cheers,
Rench
Hi,
I am on bridging visa at the moment while waiting for my Temporary Visa (I am on a Partner (Provisional and Migrant) Visa application). I just learned that the immigration just extended the processing time for partner’s visa which means it will take me longer (probably a year) to get the result of the temporary visa. My partner and I are planning to apply for a loan (for property investment). We both have permanent jobs. Am I eligible?
Thanks
Hi Jen,
Thank you for your inquiry.
If you’re a non-resident foreigner and you want to buy any residential property in Australia, you will first need to obtain approval from FIRB. You can apply for approval online and, while there is no limit to the number of new dwellings you can purchase, you will usually need to apply for approval before each purchase.
I hope this information has helped.
Cheers,
Harold
Hi.
This is a long shot but I am currently on 417 working holiday visa and I am in the process of going for my 187 , i am in full time work with company who is sponsoring me, I have over a month left on my current visa, could I take a loan out to help pay for 187 ? Thanks.
Hi Melissa,
Thanks for your inquiry.
Yes, you may still be able to apply for a loan. Please just make sure you explain your current situation.
Hope this information helped.
Cheers,
Arnold
Are any loans available if 457 visa expires in less than one year and Permanent Residency is in process?
Hi Megan,
Thanks for reaching out us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
Yes, you’re actually on the correct page on where you can compare your options for personal loans that will consider temporary residents.
You may click the name of your preferred insurer to know more details and you may click the green ‘Go to site’ button to submit an online application through their official site.
Best regards,
Rench
I am a UK Citizen about to apply for an Australian partner visa to move out with my wife, who is an Australian, next year. We want to start a small business in her home town.
My question is regarding loans. We will have a proportion of the start-up costs as cash, but may require up to $50,000 in the form of a loan to help with this. My worry is that even though we have very good credit histories, once we move to Australia these will mean nothing and we won’t be able to gain the funds needed to start our business.
What are our options?
Hi Louis!
Thanks for the comment.
Many lenders will assess your loan application based on your visa, assets, ability to repay and other financial aspects. Additionally, it is also crucial to start building your credit history which may help financing your business in the future. One way to do start is to open a bank account.
You may visit this page to help you understand how to apply for loans and to see our list of lenders. Click “Go to Site” green button to proceed with your application.
Hope this helps.
Cheers,
Jonathan
Hi,
This is Raj, I’m a student and I’m having a valid student visa for two years but It can be extended up to three years too. I just need to know I’m working here so can I apply for loan in any banks?
I’m pretty sure that I’ll be able to pay monthly payment. Could you please advise me?
Thanks
Hi Raj,
The banks outlined on the table above will consider temporary residents for loans as long as you meet the eligibility criteria and show you have the ability to repay the loan you’re applying for. As mentioned in the page above, you won’t be able to apply for a loan with terms longer than is left on your visa.
Hope this has helped,
Elizabeth
Hi, good morning, I just have granted 188 business innovation visa for 4 years, and me and my wife thought in by one coffee shop, or a restaurant. I have 330k in a bank, and then we want to buy a unit and I can pay the deposit, but we’ll need 150k home loan. Do you think we’ll have problems?
what bank can be the best for my case?
thank you very much
Hi Rommel,
Thanks for your question.
Please be advised that finder.com.au is a financial comparison website and not a lender.
For your specific query, we suggest that you contact a lender direct or a financial planner to assess and discuss your situation.
Sorry I couldn’t have been of more help.
Stephanie
Hi I just have granted visa 187 which is sort pr but still waiting for confirmation on pr am I able to buy firm out car worth of 70000 thanks
Hi Mohammed,
Thanks for your comment and unfortunately we’re unable to provide specific advice. If you’d like to discuss your eligibility please get in touch with one of the lends on this page.
Cheers
Matt