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Personal Loan Eligibility

Are you ready for a Handy Finance loan?

If you think a Handy Finance loan is for you, check out our eligibility criteria below before applying.

Eligibility Criteria for a Personal Loan

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    Be 18 years of age or older.
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    Be a citizen or permanent resident of Australia.
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    No outstanding or unpaid defaults.
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    Have no history of bankruptcy, nor be a party to a court judgement.
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    Not be in hardship with a different financial provider.
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    Have a regular income, via active employment (including self-employment)* or a pension.



*Centrelink benefits may be complemented with regular income.

Handy Guide

Exploring Personal Loan Eligibility

Gain a clear understanding of personal loan eligibility with our simple guide, designed to help you navigate the key factors that impact your chances of approval. We’ll break down the essential criteria, so you can apply with confidence and make informed decisions about your financial future.

Handy Guide

Documents to determine personal loan eligibility

As part of your application, you’ll need to submit a range of documentation to prove your personal loan eligibility and give our credit experts the information they need to create a complete picture of your financial situation. You will need to submit documentation that confirms:

  • Personal details: Submitting your driver’s licence or passport will help us confirm this. You may also be required to provide your birth certificate and Medicare card. 
  • Proof of income: We require three-months of bank statements to verify your expenses and income before finalising any application you submit. We do this through the Illion Bank Statements service. This is a secure service, and provides us with a report categorising the last 3 months of your bank statements. Neither Handy Finance nor Illion will be able to make transactions on your account. More information can be found at www.bankstatements.com.au. 
  • Debts with other financial institutions: To be eligible for a Handy Finance personal loan, you must not be in hardship with another financial provider. Details of your loans with other providers will help our credit team determine this. 
  • Security verification: This is relevant if you are applying for a secured personal loan. You will need to provide information on the car you are using as security. 
  • Other verification: What documentation you provide here depends on the type of personal loan you are applying for. If you are applying for a green loan with Handy Finance, you may need to provide details about the products you are buying or installing. If you are applying for an education loan, you may need to provide details of the course you are funding. Our credit experts will be able to provide more guidance here. 

Having this documentation ready to go will ensure a smooth pathway to approval for any personal loan type you choose to take out. Explore the full range of personal loans we have available, that could help you cover the cost of many of life’s big expenses:

  • Car loans
  • Home renovation loans
  • Debt consolidation loans
  • Caravan loans
  • Motorcycle loans
  • Boat loans
  • Green loans
  • Holiday or travel loans
  • Wedding loans
  • Medical and dental loans
  • Joint loans

Explore personal loans from Handy Finance

Apply for a loan between $2,001 and $75,000 – or up to $100,000 for home improvement projects and motor vehicles – with a loan term of one to seven years (ten years for our green loan). All our personal loans have a fixed interest rate, which means that once your loan has been approved, the repayment sum won’t change.

Get pre-approved for your loan with Handy Finance

Curious about your borrowing power? Get pre-approved with Handy Finance to explore your options. Our simple online application takes just minutes, and you’ll receive an indicative offer outlining your personalised interest rate. It’s a stress-free way to plan your finances and make informed decisions.

With Handy Finance, you’re one step closer to achieving your goals.

What loan rates can I expect?

At Handy Finance, we aim to offer competitive and transparent rates for your personal loan. While your specific rate will depend on your credit history and finances, at Handy Finance, interest rates start from 6.57% p.a.* (comparison rate 7.19% p.a.*). Your repayments include not only the interest rate but also the establishment fee, which we add to your loan amount for setup costs. With Handy Finance, you won’t have to pay any exit or early repayment fees. As long as your repayments are on time, you won’t be charged any hidden fees. You can learn more about Handy Finance Personal Loan rate fees here.
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OurMoneyMarket recently rebranded to Handy Finance. While we have a fresh new look, all the people, products, and services remain the same. The awards listed were presented to OurMoneyMarket before the rebrand and are used here with permission.

Eligible? Get your rate today.

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