Is a credit check mandatory in order to apply for a personal loan?

Yes, we use this and assess your financial situation to calculate your interest rate and reward borrowers who have maintained good credit scores. Receiving a rate quote from us will not impact your credit score. We use what is called a 'soft call' to get your credit score from the credit bureau which allows us to calculate a personalised rate for you. However, once you have submitted your loan application, we will conduct a credit check as part of our credit assessment process. This check is known as a 'hard call' and will be reflected in your credit score.