Frequently Asked Questions


1. How much can i borrow?

2. What are the interest rates?

3. How long from application to receiving an answer?

4. Is my information secure?

5. What information do I need to apply?

6. What kind of documentation will I need to provide to the lender for verification?

7. I'm applying for a car loan can you arrange insurance also?

8. Can I get a second or third loan before I pay off my first loan?

9. What if I need to borrow more than I applied for?

10. Can my partner and I Apply online in a joint application?

11. I would like to contact you before applying, how can i do this?

12. What time frame can I take the loan for?

13. I have a credit default on my file can you still help?

Welcome to E-Loans.com.au " Questions ? "


1. How much can i borrow?

Our lenders require a minimum amount borrowed of $5000 with the maximum amount negotiated from client to client.



2. What are the interest rates?

We have you approved on the lowest rate available for your circumstances,
Secured loan interest rates from 8% pa. Unsecured loan interest rates from 12% pa.

Comparison Rate Schedules

A comparison rate is a rate required by law which allows you to compare the likely cost of similar types of consumer credit products supplied by different credit providers. The rate calculation takes into account certain fees & charges levied by the credit providers.

Warning: This comparison rate applies only to the example or examples given. Different amounts & terms will result in different comparison rates. Costs such as redraw fees or early repayment fees & cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.

The comparison rate calculation does not take into account your financial circumstances & it is only when an application for credit is received & assessed by the credit provider can the contract interest rate be determined.

To view the Comparison Rate Schedule's you require Adobe Acrobat Reader

Private Motor Vehicle Loans:
The Comparison Rate Schedule for E-Loans.com.au Private Motor Vehicle Loans includes in the standard list a loan of $30,000 over 5 years, which is similar to a typical car loan.

GE Automotive Financial Services, Esanda, DaimlerChrysler Services

Personal Loans:
The Comparison Rate Schedule for E-Loans.com.au Personal Loans will be calculated on a typical 'model loan' based on borrowing $10,000 over 3 years.

St George, National Australia Bank, Orix

New legislation effective 1 July 2003, requires lenders to display the Comparison Rate in advertisements. The advertised Comparison Rate will be calculated based on an average loan amount and loan term that is relevant to the product.



3. How long from application to receiving an answer?

We approximate that you will receive an answer on your application within two business days, most clients this process is much faster.



4. Is my information secure?

Yes, completely. E-Loans.com.au use 128bit encryption technology to secure your data. Secure Sockets Layer (SSL), a leading web security technology ensures that any information exchanged on our secure pages cannot be viewed by anyone else on the web.

The application will open in a new secure window where you will see this padlock in the status bar of the page. This ensures the application process including your information is secure.



5. What information do I need to apply?

Before starting the Loan Application process, you may wish to gather some important personal information which will assist you in completing the necessary questions. You will be required to provide details about your:

Drivers licence,

Income including any government Benefits,

Present and previous employer,

Financial Liabilities - Rent or Mortgage payments, Credit card or Loans,

Assets,

Name, Address and Home phone number of a personal reference not living with you.



6. What kind of documentation will I need to provide to the lender for verification?

Different lenders sometimes require different documentation. Our consultant will help you get the right documentation together for the loan you are applying for.

This may include copies of:

Some form of identification - Drivers licence or Birth certificate

Proof of income - Pay slips, financial records or a typed signed letter with business letter head from employer.

Financial Liabilities - Rental or lease agreements, Credit card or Loan statements.



7. I'm applying for a car loan can you arrange insurance also?

We can structure into the loan at your request any of the following insurance products:

Comprehensive Motor Vehicle Insurance

Loan Protection Insurance

Short Fall Insurance

Mechanical Breakdown Insurance



8. Can I get a second or third loan before I pay off my first loan?

Yes, you may apply for another loan. However we will review your application to determine if you qualify.



9. What if I need to borrow more than I applied for?

If you qualify for the higher amount, we will be more than happy to resubmit you application for the higher amount.



10. Can my partner and I Apply online in a joint application?

Yes, for a second applicant or guarantor, please complete the form twice advising us in the comment box contained within the application form, then proceed to complete the form a second time.

Example:

1st applicant - applicant name

2nd applicant - applicant name



11. I would like to contact you before applying, how can i do this?

Simply visit our contact page here and a consultant will respond to your request.



12. What time frame can I take the loan over?


The time frames for our loans depend on the loan type itself. We set the length of time so you won't be paying you loan repayments longer than you need to. But generally we can lend between one and seven years for personal or car loans and up to 30 years for home loans and commercial loans.



13. I have a credit default on my file can you still help?


In many cases we are still able to assist with secured lending. This depends on the size and status of the default as well as the type of loan you are applying for.

Credit providers rely on your credit file when deciding whether or not to lend you money. If you would like a copy of your credit file please visit www.mycreditfile.com.au and for a small fee they will arrange this for you.



If your question was not answered here ask us now

Visit our contact page here and a consultant will respond to your request.



More Frequently Asked Questions coming soon