Unsecured Personal Loans For Any Worthwhile Purpose.
Unsecured personal loans Adelaide residents apply for are personal loans whereby the lender does not take security over the purpose for the finance; such as for a holiday, debt consolidation or renovating the family home and garden.
Unsecured Personal Loan Interest Rates
Interest rates for unsecured personal loans will typically be higher than for secured personal loans; due to the reduced security the lender has.
While the finance brokers at Houston Finance try to get the best outcome for you, Houston Finance does not determine the interest rate, the lender does.
Interest rates are set based on the strength of the unsecured personal loan application and only once approved, will Houston Finance and then the customer be aware of what terms will be offered in the unsecured personal loan contract; such as interest rate, duration of the loan and therefore monthly payments.
The most popular examples of unsecured personal loans Adelaide people apply for are listed below.
Any Worthwhile Purpose
Loans for any worthwhile purpose Adelaide residents apply for are typically amounts between 5 & 10 thousand dollars.
Home Renovation Loans
Home renovation loans Adelaide residents apply for are typically for amounts between ten and forty thousand dollars to renovate the family home.
Debt Consolidation Loans
Combine several personal loans; even credit card debt into one lower interest rate unsecured personal loan.
Landscaping Loans
Landscaping personal loans are popular for amounts between ten and forty thousand dollars to landscape outdoor garden areas of the family home.
Insurance Is Not Required
While under finance with an unsecured personal loan, there is no legal requirement to have insurance.
There are however a number of insurance products designed to protect you in the event of unforeseen circumstances, such as loan protection (CCI).
Read more about loan protection insurance and the financial peace of mind it offers that can be included in your unsecured personal loan.
Unsecured Personal Loan Features
below is a list of features ‘typical’ to unsecured personal loans.
- Unsecured personal loans get their name from the fact that the lender will take no security for the performance of the loan.
- Unsecured personal loans are generally structured with repayments over a 60 month (5 year) to 84 month (7 year) term.
- Repayments are set up monthly, but can be paid fortnightly or even weekly with direct debit from a nominated bank account.
- Interest rates on unsecured personal loans are set by the lender once approved and because of the lack of security the lender has, interest rates are generally higher than if the personal loan was secured; all other factors being equal.
- Other insurance products can be included in the financed amount of an unsecured personal loan, such as loan protection (cci), ‘GAP’ insurance and a warranty if goods are being financed.