Loan Qualification: How to Get Approved for a Loan

Accessing the finance you need

Not sure what the requirements are for loan qualification? It can be difficult to navigate the world of online lending, so Personal Loan Pal is making it simple. We pride ourselves on making it hassle-free for Aussies to access the best loans on the market. When you apply with Personal Loan Pal we’ll search the internet for a lender capable of offering you the finance you need. So, why waste time scrolling through pages and pages of google search results? Let our team take the hard work out of finding the perfect personal loan.

Loan Qualification

Loan qualification requirements

If you’re looking to apply for a personal loan then you’re probably wondering what the loan qualification requirements are, right? Well, you came to the right place. At Personal Loan Pal, we’re a lender finder. What does that mean? Basically, our team is the middle man. We show your application to a whole range of different lenders to find you the perfect match.

With that in mind, we cannot speak on behalf of other lenders as to what their loan qualification requirements are. However, a good rule of thumb though is to make sure you meet the following basic criteria:

  • You must have an active mobile number and email address;
  • Applicants must be over the age of 18;
  • A regular income must have been deposited into your own personal bank account for the last three months;
  • Applicants must have internet banking set up;
  • You must be able to prove you are an Australian citizen or permanent resident.

If you can say yes to the list above then you’re in with a pretty good chance!

What documents will I need to show a lender?

Another good question! If you’ve been googling ‘small business loan qualification calculator’, ‘auto loan qualification calculator’ or ‘loan qualification check’ then you’re probably wondering what documents a potential lender might ask you to submit. As we mentioned, Personal Loan Pal can’t speak on behalf of other lenders but it is a good idea to have these things handy:

  • Personal info (name, D.O.B etc.);
  • Your internet banking details;
  • All applicants will need to provide the reason you are applying for a loan;
  • Your MyGov details (if you receive Centrelink benefits);
  • Your employment details and employer contact info;
  • All applicants must be able to prove they are Australian citizens or permanent residents.

What if I have bad credit?

If you’ve got a poor credit score and have been madly googling ‘home loan qualification requirements’, ‘car loan qualification calculator’ or ‘personal loan qualification calculator’ then you’ll be pleased to know that our team could find you a suitable lender. When you apply with Personal Loan Pal, we’ll do our best to match you with a lender who could overlook bad credit. Unlike traditional lenders, many online lenders are able to look at your current financial situation rather than focus on your mistakes. In particular, some lenders might look at whether or not you have tried to reconcile bad credit. If a lender can see you have made a considerable effort to improve your credit score you could be eligible for a personal loan.

What type of loan can I apply for?

Personal Loan Pal has matched Aussies all over the nation with the cash they need to cover a whole range of expenses. Maybe you’ve been searching the web for ‘easiest personal loan to qualify for’ or ‘how much cash do I qualify to borrow’? Although we can not guarantee approval, the team at Personal Loan Pal do their very best to match applicants with the money they need as quickly as possible. Here are just a few of the loan we’ve already matched happy clients with:

Used car loans

If you’ve been dreaming of a set of new wheels why put it off for any longer? Finance shouldn’t have to stand in your way. Personal Loan Pal is the lender finder more Aussies trust to provide the quick cash they need. Maybe you’ve saved up most on your own but need a little extra help to make the car of your dreams a reality. Let our team take the stress out of finding a compatible lender. If you apply with Personal Loan Pal during AEST business hours, we could even have an outcome for you in just 60 minutes!*

Medical loans

Medical emergencies are not something you can always plan for (hence the word emergency). So, if you’re feeling under the weather, don’t let money troubles add to your stress. Personal Loan Pal is in your back pocket when you need a little extra boost. Our team do the searching for you. No hours and hours of scrolling through google search results or trying to decipher loan qualification requirements. We’ll give you the facts so you can decide which lender is the right fit. The best part is you won’t even need to leave your chair. Personal Loan Pal is 100% online for your convenience.

Holiday loans

That’s right, we’re not all about bad news! Personal Loan Pal could find you the perfect lender to make your holiday plans a reality. After all, life’s too short. Don’t put that dream vacation off for another year. We’ll cut the stress out of finding a reliable lender to provide a holiday loan. Worried about loan qualification and all the rest of it? Leave it to Personal Loan Pal. Submit an application during AEST business hours and our team could have an outcome for you in just 60 minutes. Long wait times and complicated forms are a thing of the past!

What if I receive Centrelink?

Receiving Centrelink or government benefits? Don’t stress. At Personal Loan Pal, we show your application to a whole range of different lenders so you get the best chance possible when it comes to qualifying for a loan. If you’ve been googling ‘what do you need to qualify for a loan’ or ‘how big of a loan can I qualify for’ then you’ve come to the right place. Some online lenders are able to consider Centrelink as a form of income.

However, as we mentioned, Personal Loan Pal is a lender finder and we can’t speak on behalf of all lenders. The good news is, an application with us will cost you absolutely nothing. If you’re interested in seeing whether or not you meet the loan qualification requirements, the Personal Loan Pal team encourages you to apply now. We’ll do our best to find you the perfect lender, without the hassle.

How much can I apply for?

At Personal Loan Pal, we accept applications for cash between $2,000 and $50,000. Our team will do their best to find you a suitable lender in no time! Forget wasting hours at the bank and put your trust in the Personal Loan Pal team!

Can I qualify for a home loan?

Unfortunately, at Personal Loan Pal, we do not match applicants with lenders who provide home loans. Our team does, however, do their best to find lenders that cover a wide range of different expenses.

That being said, there are a number of other financial institutions that approve homes loans. If you’d like to find out whether or not you qualify for a loan our team recommends you submit an application. Personal Loan Pal does not charge for applications. If you are unsuccessful our team will not ask you to pay a cent. So, what are you waiting for?

How does it work?

Wondering how it all works? It’s simple and stress-free to apply for the cash you need. Check it out:

Choose your loan amount

Head to the top of the page and use the Personal Loan Pal calculator to select a loan amount and a repayment period.

We find you a lender

The Personal Loan Pal team will show your application to a whole variety of different lenders. We’ll show you the results and you choose the lender.

Get your cash

Personal Loan Pal will put you in touch with your new lender. In most cases, your new lender will send over an agreement for you to sign. As soon as they receive a signed copy of your agreement the cash will be on its way to your account. Simple as that!

Apply today!

Personal Loan Pal has already helped thousands of happy Aussies get the cash they need quickly. So, why not scroll up and let us see what we can do for you?

*Subject to when you submit your application.