Australians love to get out on the water. If you are thinking of buying a tinnie to spend the summer fishing or perhaps a jet ski to cross the lakes, then a personal loan could be right for you.
Next strong demand for term loan commitments in August, the latest credit indicators from the Australian Bureau of Statistics (ABS) revealed that new commitments for personal loans fell slightly in almost all categories in September – personal finance loans fell 5.2% month-on-month , loans for road vehicles fell by 6.8% and loans for personal investment fell by 10.0%.
However, fixed-term personal loans for the purchase of other vehicles and transport equipment rose 6.3% month on month in September.
Examples of these vehicles include boats, trailers, caravans, jet skis, motorcycles or all-terrain vehicles (ATVs).
High inflation continues to drive up the price of everything, but there is light at the end of the tunnel. The Reserve Bank of Australia (RBA) suggests we may be able to see the effects of recent rate hikes from next year.
Is my professional status important when taking out a personal loan?
It’s common to take out a personal loan as a paid worker with a good credit score, but there are around 2.5 million casual workers in Australia who may also want the privilege.
Although it may be more difficult for these workers to obtain a personal loan, they are available from certain lenders. If you are a casual employee considering applying for a personal loanbe sure to do your research, check your credit score and be aware of circumstances that may influence your application.
If you are looking for a personal loan with repayments adapted to your budget, The RateCity Personal Loan Calculator can provide you with an estimate to help you find the right one for you.
RateCity has ranked the highest rated personal loans on our Ranking of personal loans using our comprehensive and revolutionary service Real-Time Rating System™. This system gives loan products a score out of five, based on cost and flexibility. But unlike other rating systems that rank their products once or twice a year, our Real Time Ratings™ system ranks products live as you use the site, helping you narrow down your shortlist of products. personal loan options.
Rankings correct at time of publication. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.
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