Low Interest Small Loans

Low Interest Small Loans

Nowadays, it can be difficult to get low-interest small loans without going through a rigorous screening process. There are also small lenders out there with so many loan offers that it can be difficult to choose the right one for you.

If you’re looking for a way to get low-interest personal loans, SocietyOne is a great place to start. Our goal is to provide Australians all over the country with flexible interest rates to help them get the funds they need.

If you have a good credit standing, we can give you the opportunity to get the low-interest personal loans that you need. Keep reading to learn more about our various loan options and how you can apply for one with us!

What qualifies as a small loan?

There are no formal definitions for small loans; however, they generally range from $500 to $2000, typically with shorter loan terms and higher interest rates compared to bigger loans.

At SocietyOne, we offer low-interest personal loans as small as $5,000. The different loan types are secured loans and unsecured loans. Unsecured loans give you access to loan amounts ranging from $5,000 to $50,000, with loan terms of two, three, or five years. If you have an eligible asset that can be used as collateral, such as a house or vehicle, you can apply for a secured loan, with loan amounts from $5,000 to $70,000 and loan terms of two, three, five, or seven years.

Are there small loans with no interest?

There are zero-interest loans or interest-free loans where you only pay the principal amount. There are, however, many eligibility restrictions with these loans, making them inaccessible to most people.

At SocietyOne, we strive to make personal loans accessible to Australians. Our interest rates are risk-based, which means the better your credit profile, the better deal we can offer you for your personal loan. In addition, you won’t ever have to worry about extra charges such as monthly fees, balloon payments, or early repayment fees.

To start your application for low-interest personal loans with us, get a quote on our personal loan repayment calculator. If you find your quote satisfactory, fill out your loan application, which takes a mere five minutes to complete. When your loan application is approved, you can receive your funds in your Australian bank account in as little as one business day.

If you have a less-than-ideal credit score, we can provide you with ways to improve it through our Credit Score Club, where we grant you access to all sorts of tips and tricks to manage your credit score and more.

If you’re unsure of what your credit score is, you can do a quick credit score check on our website. We work closely with the credit reporting agency Experian to help access your credit information and provide you with the SocietyOne score insights.

Take note that there are also a lot of other factors that affect your interest rate apart from your credit score. These factors include your credit history, cash flow, employment status, and requested loan amount.

Can small loans be paid off early?

Often, lenders charge steep fees when you pay off your loan early, even when they advertise low-interest small loans. However, at SocietyOne, you can pay off your personal loans as soon as you are ready.

We understand that there may come a time when you can repay your loan and be debt-free earlier than your loan term. Because of this, we have made it a point not to charge for any early exit or early repayment fees.

If the opposite is true and you ever find yourself facing repayment issues, feel more than free to contact our customer service. We’re more than happy to accommodate your concerns and help you get things sorted out by providing you with short-term or medium-term solutions, including flexibility with instalments due and time extensions.

The best thing about SocietyOne is that everything is done online, from the initial request of your quote to your fortnightly or monthly repayments. This is just one of the many ways we streamline the processes at our loan company to ensure a hassle-free online loaning experience for you.

Take advantage of our hassle-free application process at SocietyOne for low-interest personal loans!

When applying for a low-interest personal loan with us, you can be certain that we can provide you with the most suitable offers for all our eligible customers. Our minimum eligibility requirements state that you need to be at least eighteen years old, earn more than $30,000 per year, and be a permanent resident or Australian citizen.

To apply for a personal loan, you may need to supply us with the following documents:

• Personal documents showing your name, address, and date of birth
• Driver’s licence or passport
• Proof of address, such as a utility bill
• Proof of income, such as payslips or bank statements
• Details about your day-to-day expenses and existing debts

Whether you’re applying for holiday loans, loans for renovation, wedding loans, or bike loans, we can help you out. We have faster and fairer deals to help you get the funds you need. Come and apply for a personal loan with SocietyOne today!