Personal Loans for People on Centrelink

Personal Loans for People on Centrelink

Personal loans provide us with access to cash that can be used for a number of purposes. Read on for some helpful information on personal loans for those on Centrelink.

Personal loans
A personal loan is the most common type of bank loan in Australia and they are used for a variety of reasons. The main types of personal loan are secured and unsecured. A secured personal loan is one where you provide some form of security or collateral. An unsecured loan does not require any security on your part. Because of this unsecured loans tend to have higher interest rates.

Personal loans on Centrelink
If you are on Centrelink then many lenders will require that you provide some security and take out a secured loan. Property and real estate are the most accepted forms of security. Personal loans are becoming increasingly available for those on Centrelink. Many of these lenders provide online loan application systems.

Shop around
As is the case with most loan products the rates charged on personal loans can vary considerably among lenders. This is especially the case if you are on Centrelink. Because of this it is important to research the main banks and lenders and shop around for the best deals offered. You should get quotes from as many lenders as possible and compare what is on offer.