Joint Personal Loans

A joint personal loan is a personal loan that is taken out by two people, known as co-borrowers, who are both equally responsible for paying it off. Other than this, a joint personal loan is a standard loan product, where you receive a lump sum of money to be repaid in regular instalments. These are […]

Personal Loan Repayment Calculator

How do I use the personal loan repayment calculator? Savvy’s personal loan repayment calculator is simple and easy to use no matter where you are. All you need to do is fill out a few different boxes and the calculator will crunch all the numbers for you. By inputting your desired loan amount, term and […]

Secured Personal Loans

A secured personal loan uses an asset as collateral to secure the loan. The most common asset used for these loans is your car, but there are other options available (which you can read about in the next section). In terms of how they work, they’re the same as any other standard personal loan: you […]

Fixed Rate Personal Loans

A fixed rate on a personal loan means, as you might expect, the rate is locked in from the beginning of your loan term and remains the same throughout your repayments. This means the cost of your repayments will remain consistent, allowing you to budget around your repayments with more confidence and accuracy. You’ll know […]

Variable Rate Personal Loans

A variable rate personal loan is, as the name suggests, a type of personal loan that comes with variable interest. This means that the rate can change throughout your loan term, rather than being locked in from the start (as it would be under a fixed rate agreement). Your lender may change their rates during […]

Personal Loans for Self-Employed Workers

Being your own boss can be rewarding, but how does it work when you want to borrow money? As a self-employed worker, you may face stricter requirements when applying for personal loans. However, while the application process might look a little different, it’s still possible to get the finance you need. Savvy can help streamline […]

Wedding and Honeymoon Loans

A wedding loan is a form of personal loan designed to help you out with your special day. According to Moneysmart, the average Australian couple will spend at least $36,000 on their wedding. To help manage the costs, 60% of couples will take out a loan. These personal loans are typically unsecured, meaning that you won’t […]

Unsecured Personal Loans

Unsecured personal loans are loans that don’t require any collateral. This means you won’t need to offer a valuable asset, such as your car or property, as security for the loan. These loans are usually available from as little as $5,001 up to a maximum of $75,000, depending on the lender and your borrowing needs. […]

Home Renovation Loans

A home renovation or home improvement loan is a personal loan that can be used to cover the cost of any sort of property renovation or improvement, whether on your personal home or an investment property. This can include: Kitchen and bathroom remodelling Plumbing and electrical work Home repairs Building additional living space Adding windows or […]

Travel and Holiday Loans

A travel or holiday loan is a personal loan you can take out to help you fund various types of trips, from backpacking to cruises to honeymoons. It can be used for a range of costs, including: Flights Accommodation Visa and passport fees Wining and dining Transport Recreation Equipment Shopping Travel insurance When it comes […]

Can I Get a Personal Loan as a Pensioner?

If you’re receiving a government pension or benefits, you may find it harder to qualify for a personal loan – but there are lenders out there that are willing to work with you if you need finance. These lenders may accept certain fixed benefits as part of your income, such as: Age Pension Disability Support […]

Most Common Uses of Personal Loans in Australia

Personal loan purposes: by the numbers The most common purpose for personal loans is vehicle purchase, with 59% of all applications being for this reason in 2023 The most common purpose for unsecured personal loans is debt consolidation, at 23% of requests across 2023 Home improvement was the next-most popular at 6%, followed by medical […]