Get a flexible personal loan even if you have bad credit.
If your credit history is less-than-perfect and you're looking for a personal loan, consider the bad credit personal loans Rapid Finance has to offer. The eligibility criteria for these loans is flexible and you can apply even if you have lower documentation or unpaid credit card debts and defaults.
You can get a personal loan to purchase a new car or motorbike or to consolidate other liabilities like credit card debts, car loans, and personal loans under a single umbrella. You can even get a cash loan that you can use for just about any legitimate purpose. Find out more about the flexible features below.
Compare other personal loans
Whilst we don't compare Rapid Finance Bad Credit Personal Loan directly, here are some other loans that are similar.
What should you consider about a loan from Rapid Finance?
Having negative marks on your credit file can make it difficult to access finance, but institutions like Rapid Finance can help you find a suitable loan if you have paid or unpaid defaults, discharged bankruptcies, or no financials, and you can also apply for one of its loans if you're self-employed.
You can use a loan from Rapid Finance loan for a range of personal needs, such as purchasing a new car or motorbike. Rapid Finance considers your loan application and works to offer you a tailored solution. Find out if its loan is right for you by reading more about it below.
Five important features of a bad credit loan from Rapid Finance
Rapid Finance’s bad credit personal loans come with a number of features, which comprise of the following:
- Additional repayments. You can make extra repayments towards your Rapid Finance bad credit personal loan without worrying about paying any penalties. This allows you to pay your loan off sooner and save on interest.
- Free assessment. You don’t pay any fees for the initial assessment, and you can expect to get a response in a matter of minutes.
- One point of contact. If you choose to get a bad credit personal loan through Rapid Finance you won’t have to worry about discussing your situation with a new representative each time. This is because a single Rapid Finance specialist looks after your loan requirements from start to finish.
- Multiple lender options. Rapid Finance works with a number of lenders across Australia and finds one for you after taking your requirements into account. Some of the lenders Rapid Finance works with include Latitude Financial Services, Macquarie, Bankwest, Suncorp, RACV, and Esanda.
- Repayment flexibility. You can choose to make repayments in accordance with your pay cycle, which can be weekly, fortnightly, or monthly. You get to select this during the application process.
Are you eligible for this loan?
You can apply for a bad credit loan through Rapid Finance if you meet certain eligibility criteria. You should be over 18 years old, a permanent Australian resident and have a regular source of income. You can apply if you have poor credit history or if you don't have financial documentation. You can also apply if you’re self-employed.
How much does the loan cost?
After conducting its initial assessment, Rapid Finance will establish if it can provide financial assistance to you. Until this point, you don’t have to pay any fees. If you decide against proceeding after the approval of your loan, you might have to pay a fee for using Rapid Finance’s services depending on the kind of loan you choose. You get a comprehensive list of all associated fees and charges as part of the quote.
How to apply for a Rapid Finance Bad Credit Personal Loan
You can submit your application online, or speak to a Rapid Finance specialist over the phone. Establish that you meet the following eligibility criteria before you take the next step:
- You’re at least 18 years old
- You are a permanent resident of Australia
- You have a regular source of income
As part of the application process, you have to provide different kinds of information, which includes the following:
- Details of your Australian driver’s license
- Residential details
- Employment information
- Copies of your last two payslips
- Details of your monthly expenses
- Details of all existing liabilities including loans, credit cards, and overdrafts
Individuals with poor credit can consider applying for a Rapid Finance bad credit personal loan, as there are other institutions that provide bad credit loans, compare a few before narrowing down on a suitable one.