To be eligible, you must:
You can borrow a loan from $2,100 to $8,000 for a personal loan, $1,000 to $50,000 for a business loan, depending on your overall suitability.
You need to send us your required verification documents:
LoanOne is committed to responsible lending. We will make sure the loan you seek is not unsuitable. We will assess your information carefully, including your loan purpose, loan amount, any assets you own, plus verification documents such as your last 30 days’ payslips, last 3-months’ bank statements, any existing loan contracts, your credit history and your daily living expenses.
If you have passed the first stage of our responsible lending assessment process, you will be required to provide us with your identity evidence. Please refer to the table of 100 Points of ID:
Yes, we will conduct credit checks as part of our verification process.
However, a credit check is the last step in delivering the loan result and will not be conducted before pre-approving your loan application.
With LoanOne, individuals or corporate entities with impaired credit records can still be considered. The loan approval is always based on a combination of multiple factors such as your income, security and credit history etc.
LoanOne aims to assess your application, including consideration of your documentation, approve if suitable and provide you with your funds on the same day if you apply by 4:00 pm AEST or, at latest, the next day.
Interest rates for both Personal and Business Loans vary upon risk assessment.
For Personal Loans, the interest rate is calculated as an Annual Cost Rate up to 48%.
For Business Loans, interest rates may vary from case to case.
You will be given a detailed Fees & Charges Table to consider, before you sign your contract.
The scheduled loan repayments will be directly debited from your nominated bank account.
Loans are available for up to 12 months.
Yes. You are welcome to make extra repayments or pay off the loan early, to save interest.
Of course, once you have paid off your current loan, you are welcome to apply again.
An established good repayment history will make your reloan easier and cheaper when you come back to us in future.
This will help to streamline the application process.
To ensure we can provide the loan as quickly as possible, this step is compulsory. Providing bank statement via email/fax is not accepted, as our system is unable to digitally read the data. Your security is our highest priority.
If you are not comfortable with using this system, there is no obligation to proceed with the loan.
For further details about rights and obligations concerning your contract, please refer to our Information Statement.