Personal Loans with Bad Credit in Australia

We understand that sometimes bad credit just happens – we get it! We have helped thousands of everyday Australians in similar situations.

Apply For A Personal Loan
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Finance One Car Loan

Finance One

Personal Loan

If you’ve previously had a credit incident, securing personal finance in Australia through the big banks can be a tricky process. But here at Finance One, we believe that everyone deserves a second chance for finance! That’s why we offer personal loans for people with bad credit or who have had difficulty sourcing a loan elsewhere, looking for a second chance.

  • Loans from $5,000 to $25,000?

  • Loan terms from 3 - 4 years

  • Approvals in as little as 24 hours

What can I use a Car Loan for?

What can I use a
Personal Loan for?

We understand that life can be unpredictable, with a Finance One Personal Loan you may not have to miss out – even if you’ve experienced  a bad credit history! We’re committed to helping people solve their financial problems with a bad credit history and help give them a second chance at finance.

  • Home Improvements
  • Vehicle accessories
  • Medical bills
  • Vehicle Repairs
  • Travel
  • Trailers
  • Education Costs
  • Weddings
  • And much more
Can I apply for a Car Loan?

Can I apply for a

Personal Loan?

We strive to find finance solutions for everyone – even those who have been rejected by the banks. We go above and beyond to help provide smart solutions to your finance problems.

  • Income

    Are you receiving regular income?

  • Borrow

    Do you want to borrow between $8,000 to $100,000?

  • Age

    Are you at least 18 years of age?

  • Credit History

    Defaults on your credit file or discharged from bankruptcy?

Apply for financial assistance

Personal

Personal

Don’t be held back by a bad credit history.

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Travel

Travel

Don’t be kept at home by a bad credit history.

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Wedding

Wedding

Say “I Do” to your perfect Wedding.

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Home Renovation

Home Renovation

A bad credit history doesn’t have to hold you back from having a beautiful home.

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Medical & Dental

Medical & Dental

Feel better with Finance One Medical & Dental Finance.

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Veterinary

Veterinary

Don’t compromise your Pet’s health because of a bad credit history.

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Because we believe in second chances

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Flexibility

Finance One customers can make extra repayments or increase their repayment amount at any time.^

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100% Aussie

With offices in Townsville and Brisbane, our team is ready to assist you in finding financial success.

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Support

Our dedicated support team will get to know you and provide personalised service.

Getting a personal loan with bad credit

Getting a personal loan with bad credit

As a leading provider of personal loans in Australia, we understand that people can have bad credit for a variety of reasons. Sometimes it’s due to previous financial issues, but sometimes it’s simply a case of not having previously applied for a loan. Some of the major lenders are often reluctant to lend to people who haven’t previously got a substantial borrowing history. But the good news is that by opting for personal loans with bad credit, you can either rebuild or build good credit history. In fact, there are a wide variety of people that can be assisted via personal loans with bad credit. We’ve put together a list below:

Self-employed people/People with seasonal income sources/Retired people

Casual employees/short-term contractors

Customers with unorthodox borrowing needs

How to Apply for a Finance One Loan

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Step 1

Apply online in minutes

Start your loan application online with a quick form, or speak with us over the phone. The process only takes a few minutes to complete.

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Step 2

Get approved

Our team reviews your application promptly and provides fast approval decisions, often within the same day.

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Step 3

Make your purchase

Once approved, receive your funds and confidently move forward with your vehicle, business, or personal purchase.

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Personal Loan for Bad Credit

Personal Loan for Bad Credit

We’ve put together some key tips around how you can apply for a personal loan with bad credit. There’s more to the process than simply filling out an application form; preparing properly in advance can significantly increase your chances of being approved.

Avoid multiple applications

Establishing a budget and being able to demonstrate a consistent pattern of saving can be crucial for just about any loan. Your credit score isn’t necessarily indicative of your financial habits, and it’s great to be able to demonstrate that to a lender.

Budgeting

The amount of debt you have dictates how much you can borrow — but did you know that debt isn’t necessarily cleared off your credit report as soon as you’ve finished repaying it? Check your credit report before applying for a loan — you’re entitled to a certain amount of “free” checks each year — to ensure that you don’t have any debt that’s long dealt with preventing you from borrowing more.

Clear off your credit report

Once you’ve secured the loan you need to finance a car with poor credit, it’s critical to make regular and timely repayments to the lender, in accordance with the loan agreement. This isn’t just about paying off the loan efficiently; it’s also about building or rebuilding your credit score by demonstrating that you can stick to a schedule and be a trustworthy borrower in the future.

Make your repayments

Browsing through different loans before coming to a final decision can be a good and normal thing to do when you’re seeking finance. But a common mistake people make is applying for multiple loans, then selecting the one they really want when they’ve been approved. This can actually have a detrimental effect on your credit score overall — so make sure you discuss T&Cs thoroughly and ask any relevant questions before making your decision about which loan to apply for.

Frequently asked Questions

Can I apply for a Personal Loan from Finance One if I have a bad credit history?

Yes! Finance One can consider applicants whose credit history includes defaults, previous bankruptcies or Part IX Debt Agreements.

What could my interest rate be?

Our interest rates vary depending on your overall profile, including but not limited, to your stability in employment and residency status, your credit history, affordability and your banking conduct. 

Can I make extra repayments, increase my repayments or pay my loan out early?

Yes, you can make extra repayments or increase your repayments. However, some of our loans do have an early payout fee. We recommend you review your loan terms or contact us to confirm if an early payout fee applies to your loan.

What documents do I need to provide when I apply?

The minimum documents we require for a Consumer Loan application include: 

  • three months of bank statements (we will provide you with our secure link to bankstatements.com.au to provide your bank statements); 

  • proof of your income; and 

  • completed application form and privacy statement. 

Apply for a loan online now

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24 hour approvals are subject to satisfactory documentation being provided to assess the application.
**Secured Personal Loans between $5,000 – $25,000. Unsecured Personal Loans between $5,000 – $15,000.
Normal lending criteria, terms & conditions and fees & charges apply.