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Kickstarting The Next Big Idea: How Much Can I Borrow with a Personal Loan?

Personal loans for a range of life expenses

Life comes with some big expenses. Personal loans can help you finance them, by removing the stress a large, upfront expense often causes. With a personal loan, you get the cash in hand to secure your purchase – with the ease of making your repayments in manageable instalments over a set period of time. 

So, how much can you borrow with a personal loan? At Handy Finance, we offer personal loans between $2,001 and $75,000. This range can help you finance a range of big-ticket purchases, such as a new car or boat, some home renovations or installing a pool or spa in your home. 

Personal Loans with Handy Finance

Handy Finance is all about personalised, tailored loans that meet your financial circumstances. That is why we offer several different personal loan products, including: 

  • Car, caravan and boat loans
  • Home renovation loans
  • Debt consolidation loans
  • Pool or spa loans
  • Green loans
  • Wedding loans
  • Education loans
  • Medical and dental loans
  • Holiday and travel loans

How much can I afford to borrow with a personal loan?

While you can borrow up to $75,000 for a personal loan with Handy Finance, your final loan amount will always be based on your application and specific financial situation. These loans will help you bring your project to life but won’t add further financial strain to your life. Our credit team focuses on offering fast, flexible and manageable terms. 

If you want a clear estimation of your borrowing power, we have the tool for you – the Handy Finance Personal Loan Calculator. 

Handy Finance’s Personal Loan Calculator

Personal Loan Calculator

Quickly estimate your borrowing power using our personal loan calculator. It can provide valuable insight into your borrowing power. Input the relevant information – your ideal loan amount, loan term, repayment schedule and credit rating – and receive an estimated repayment amount as well as an indicative interest rate for your loan. 

Adjust the information as needed to explore how a credit rating, repayment frequency or loan term will change your repayment sum. The numbers provided by the calculator are estimates only and should not be considered the final terms you will receive when you apply. Consider getting a free personalised quote from our team for a more precise exploration of your borrowing power – easily apply online. Enter your details into our online form, and receive an indicative quote within minutes. 

Personal Loan Borrowing Power: Your Questions Answered

What are my personal loan repayment options?

You can repay your personal loan from Handy Finance in weekly, fortnightly or monthly instalments. These repayment instalments can be adjusted over the life of the loan, too – if you’d like to increase from monthly to weekly or go from fortnightly to monthly, all you need to do is contact the Handy Finance team to adjust that payment schedule. 

All Handy Finance Personal Loans have a fixed interest rate – this means that repayments will remain the same over the lifetime of the loan. You’ll always know exactly what you owe each time, and that sum won’t change. We also have a $0 early repayment fee – you won’t be penalised for paying off your loan early. 

Will my loan’s interest rate and fees affect my borrowing power?

Yes, they can. The interest rate and any fees attached to the loan are important factors to consider. These numbers are incorporated into any calculations, so they will directly affect what your repayments will be. 

Handy Finance offers all our personal loans with a fixed interest rate. This means the rate we offer you will remain the same for the loan term; it will not be affected by market conditions as a variable interest rate might be. This means that the repayment sum will also remain the same, allowing you to budget and plan accordingly. 

When it comes to fees, the most important one to consider with Handy Finance is your establishment fee. There are no ongoing monthly fees and a $0 early repayment fee. You won’t be charged any other fees while repaying your loan unless you cannot make your repayments on time. Contact our team if you won’t be able to meet your regular repayments – we can work with you to find a solution. 

Can I get approved for the maximum loan amount?

The final loan amount you are approved for will always depend on your application. Our credit team carefully reviews each application before offering terms that meet your financial situation. 

Why should I use a borrowing power calculator before I apply?

A loan calculator can help you see at a glance what your borrowing power will be. It allows you to adjust prompts to explore different scenarios – what a larger loan amount might provide, how you might be affected by a shorter loan term, and the general circumstances you’re looking at if you know you have a lower credit rating. You won’t put yourself at risk by applying for more than you can afford and then having your application denied. Knowing what you’ll be able to borrow helps you set a budget for what you’re purchasing, too. All of this is good information at the research stage. 

Contact Handy Finance today to kickstart your personal finance journey

When it comes to personal finance, we’ve covered all the bases at Handy Finance. Our range of personal loans helps you cover many of the most important expenses in life. Whether you’re looking to lock in your dream holiday or wedding, cover a home renovation bill, install solar panels or a pool, or buy a new car, Handy Finance is here to help. Contact one of our credit experts today to find out more about the range of personal loans we offer.