loans

[olive]

does anybody know how long u have to be working before u can apply for a loan?Thanks
(THOUGHT ID ASK HERE 1ST)

 

[alby]

i think the most important thing is a savings record dont quote me though

 

[MrBredli]

I've never saved in my life and i was able to get 3 loans ($15000, $20000 & $11000) within 6 weeks. I think it depends more on how much you earn, how much you spend (bills etc) and your previous work history.

If you have a bank account with the Commonwealth you can apply online and receive an answer within 20 mins. Might be able to apply if you don't have an account with them also, probably harder to get it though.

 

[tweety2]

the minimum qualifing period is 3 months for full time workers and 6 months for part time

 

[Nephrurus]

A loan? yeah... i wanna get some womas too...

 

[Mangles]

I work in lending, but not personal loans. (Business equipment finance).

Every lender out there will have different criteria, but as Tweety said generally 3 months. Van also vary depending on the amount you wish to borrow. Best to ring around various Banks, Building Societies and Credit Unions and check their criteria, starting with who you bank with at present.

Normally the easier the lending policy the higher the rate will be, so if you go through a cash converters type loan you will probaly be paying a very high interest rate. So make sure you get all teh details inc rate upfront, which under the credit laws they must give you.

 

[Skorpious]

Commonwealth Bank obviously has different criteria then most, the suckers gave me a $7000 loan as an 18 year old who had been working 4 weeks as a casual (first job)

 

[olive]

what job were u doin?

 

[Skorpious]

Service Station Attendant

 

[Brodie]

Im 18 and I got 42k for my car.. Been working full time since the beginning of the year... No savings history at all, but I do earn quite a lot of money so they gave it to me pretty quick.