Rating based on 11 reviews

Loan One

  • Bad credit loans up to $8,000
  • Low-interest starting from 48%
  • Repayment up to 12 months

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Loan One homepage
Author Loan One. Screenshot of Loan One website.
[Accessed May 3, 2023]

Loan One - they believe in second chances

Loan One has become more like family to most Australian families. The reason is that they don’t shut out those who need a loan even if they have a bad credit history.

They help clients get through the darkest of days as far as their financial woes are concerned. They are not an online loan provider that closes the door on customers when they need help the most.

Loan One looks at bad credit history with sympathy

As tempting as money and material things are, no one would go through financial turmoil with their eyes open. Nobody delights over a bad credit history. It is primarily for this reason that they don’t see the use of punishing you for actions you have committed in the past. Besides, they know a few banks and credit advance providers have criticised you enough so they don’t see why they should add more fuel to the fire. Instead, they come bearing good news, they help you with your bad credit history and they will never neglect your requests.

Loan One application criteria

The following criteria are what they look for from a client who wants a bad credit loan with them. They are not too picky but there are certain requirements that are essential and can’t be bypassed.

  • Clients need to be 18 years or older to apply for a loan
  • Clients need to have a stable income that they receive on a frequent basis
  • Clients need to be an Australian citizen
  • Clients need an active banking account

They are different to other lenders

Clients must submit an online bad credit loan application. After submitting the application, they will then have to verify all the information they submitted to them together with the documentation.

After they have verified everything and found that all the documentation is in order, they will then have to do a credit check.

Does Loan One check credit history?

As part of their online loan application process, they should do a credit check for all their clients. There is nothing to be worried about because they will not penalise you because of your previous bad credit record, they will consider your affordability and if you are paying all your debts on time.

This is a bad credit loan application, after all, so they know that you may have defaulted in the past. They really try their best to ensure that every client that is seeking a loan gets it but it is important that customers know that they must meet them halfway too. They also must do right by ensuring that they meet their financial obligations without a struggle.

Why is Loan One different?

Seeing that you have a bad credit history, they are more interested in establishing a good credit history for you going forward and in the future. They analyse each client’s situation differently and as such, they will not always reach the same conclusion. Each analysis will differ based on the findings of each customer. This way, your credit record will start attracting the right people as opposed to the usual answer of having financial providers turn your blacklisted loan application down.

Loan One – Bad credit loan

  • Loan Type Bad credit loans
  • Interest Rate from 48%
  • Loan Amount up to $8,000
  • Repayment 1 month to 12 months

Benefits of Loan One

  • Bad credit loans

Bad credit loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This bad credit loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Loan One - Apply for one of their affordable loans today

There are costs incurred by bad credit loans just like any other loan. The costs are market-related and can be compared with the costs of other credit advance providers.

If you feel that their costs are too high, you are welcome to try other payday loan providers. However, they must maintain that there is not much of a difference as they have said they offer competitive rates that are affordable for every client who applies for bad credit at Loan One.

They will never allow you to sign the contract if you feel that the charges are too high. Each agreement is negotiated prior to signing on the dotted line. They don’t want their clients to feel that they will not be able to repay the loan.

Loan One blog and articles

They have many articles that are available on their blog. The articles vary from credit guidelines to other financial management expertise you will need in the future. It is important that clients use these articles to gain knowledge and a better insight into being able to handle their money and savings right.

Responsible lending at Loan One loans

They would never give a bad credit loan to a client who is clearly not in a good financial state to pay for it. As such they take a client’s suitability and affordability seriously simply because they don’t want to add more debt to the debts that they already have.

Can you pay your Loan One loan earlier?

Clients are more than welcome to pay their loans before the scheduled payment. There are fees incurred from paying your personal loan sooner.

What if you pay your Loan One loan later?

If you pay your loan later, you will be liable for dishonesty fees. Furthermore, this may have an impact on your loan applications in the future. Don’t get your name in the mud with a loan you could have avoided from the beginning.

Customer Reviews & Testimonials

July 2018

Loan One will never leave you hanging, they will get back to you on the same day you applied for credit.

Emily S
— Alice Springs —

October 2018

Using the Loan One website was fast, easy and convenient.

Peter C
— Gold Coast —

May 2019

There is always something the customer will benefit from choosing the benefits that come with qualifying for a Loan One credit plan.

Chloe W
— —

Loan One Contact

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