Compare Loans for Australia

comparedinkum Featured Loans for January

The ranking does not represent an implied recommendation for a particular financial product on the part of comparedinkum. Visitors should evaluate each individual product and choose the product that suits their requirements the best.

Loans Explained

Most people at some point in their lives have experienced being short of cash. When money is tight people can use loans to tide them over, alternatively if they are making a purchase that is particularly expensive such as a house or a car, a loan can be used to finance the purchase.

Loans give consumers the flexibility to do things they otherwise would be unable to do. A loan requires the lending of cash to an individual or company on the understanding the amount loaned out will be paid back with a pre determined amount of interest. Loans usually come with a contract that specifies the terms of the loan which includes the interest rate and repayment schedules.

Loans can be used for many things, some people borrow small amounts of money using their credit card for example. Personal loans tend to have a minimum amount that can be borrowed and for smaller amounts banks tend to prefer people borrow using lines of credit such as a credit card.

The most common type of loan is the home loan. Most people cannot afford to pay for a house in full and therefore borrow money to finance the purchase of property. Another type of loan that is common is the car loan, where the bank lends cash to a consumer and secures the debt against the new vehicle.

Latest Loans News from the comparedinkum Blog

It’s Time For Australians To Shop Around For Home Loans

According to research, Australian borrowers who continue to stick with the big four lenders despite the hike in interest rates could end up missing out on saving more than $2,000 a year. When this figure is combined Australians could end up missing out on saving a whopping $7 billion in annual interest payments or $19 million a day. Over the last few months ANZ, CBA, and Westpac have all raised their variable home loan rates in response to rising funding costs. Continue reading

Second Hand Car Loans Make Car Ownership Affordable

According to the latest research, Australia appears to be a nation of second-hand lovers with over 90 per cent of the population having purchased at least one second item at some point in their lives. The research suggests that 100 million items were sold on Gumtree over the last year, with 43 per cent of buyers claiming they saved as much as 50 per cent off the purchase price of the item were they to have bought the item brand new. Continue reading

Low Interest Personal Loans Can Be Used To Consolidate Debt

According to the latest data, nearly half of all Australian credit card holder say they find it difficult to make payments that exceed their minimum monthly repayment on their outstanding balance. Not only do these borrowers struggle to make the minimum payment they also seem to be unable to pay down their debt during the interest free period. An ASIC report published recently found that the total outstanding credit card debt in Australia is $45 billion. Continue reading

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