ACL 390611 | MFAA Member | Established 2005
Personal Loans.One Application Instead of Five.
Personal lending has the widest spread between lenders of any consumer product, and every application you make is recorded on your credit file. We work out who will say yes before anything is lodged.
15 minutes. No paperwork, no obligation, and no credit enquiry until you have seen your options and chosen a lender. Lenders pay us a commission on settlement and we disclose it in writing before any work begins.
Intellect Finance – Personal Loan Brokers
Independent since 2005 | ACL 390611What Is a Personal Loan?
A personal loan is money borrowed for a specific purpose and repaid in fixed instalments over a set term, commonly one to seven years. It can be unsecured, with no asset pledged, or secured against something such as a vehicle.
Personal loans are regulated consumer credit, so lenders have responsible lending obligations and brokers arranging them are legally required to act in your best interests.
Two things make this product different from a mortgage. The spread between lenders is far wider, because pricing is driven by your credit profile rather than a property valuation. And the cost of shopping around badly is higher, because every application is recorded on your file and a run of declines makes the next lender more cautious.
Read This First
Applying to Five Lenders to See Who Says Yes Is the Expensive Way
Every personal loan application is recorded on your credit file. Several enquiries in a short window is a negative signal to the next lender, so the applications you make while shopping around can be the reason the last one is declined or priced higher.
This is the whole argument for using a broker on personal lending, and it matters more here than on a mortgage. We work out which lender fits your profile first, then lodge once.
Our Services
A Personal Loan Is Not Always the Cheapest Option
Securing the debt against a car, or releasing equity from your home, often costs materially less. We compare all of it before recommending anything, including the options that pay us less.
Unsecured Personal Loan
No asset pledged. Priced almost entirely on your credit profile, which is why the gap between the advertised rate and your rate is widest here.
Learn morePersonal Line of Credit
Draw what you need and pay interest only on what you use. Cheap to hold, easy to overuse.
Learn moreRenovation Loan
Fund the work without refinancing the mortgage, losing offset benefit or breaking a fixed rate.
Learn moreCar LoanUsually cheaper
Secured against the vehicle, so it typically prices well below an unsecured loan and below most dealer finance.
Learn moreMotorcycle Finance
Bikes sit outside standard car lending. Fewer lenders write them and age rules differ sharply.
Learn moreCash-Out RefinanceLower annual cost
Releasing equity from your home usually costs far less per year than an unsecured loan.
Learn moreWhich option is cheapest depends on the amount, the term and what you have available as security. A lower rate over a much longer term can still cost more in total interest, so we model both. Consolidating business rather than personal debt sits on our business debt consolidation page.
Not Sure Which Is Cheapest?
Fifteen minutes, no credit enquiry, no obligation.Pricing
What Actually Determines Your Rate
Personal loan rates are set per application, not from a rate card. The advertised rate is the one offered to the strongest profiles, and most applicants are not quoted it. These six things decide where you land.
Credit history and score
The single biggest input. Personal lending is priced on risk more directly than any other consumer product, and lenders read the same file differently.
Secured or unsecured
Pledging an asset gives the lender recourse and lowers the rate. Whether you have something suitable to pledge often decides the price more than your income does.
Amount and term
Very small loans and very long terms both attract higher pricing. The term also decides total interest, which is where a lower monthly repayment can quietly cost more.
Income stability
Length of employment, income type and whether you are PAYG, casual or self-employed all shift both the rate and which lenders will look at all.
The purpose of the loan
Lenders specialise. Some are competitive on consolidation, others on renovations, others on vehicles. The same file can be priced very differently depending on the stated purpose.
Existing commitments
Cards are assessed on their limit rather than the balance, and buy-now-pay-later accounts count. Both reduce capacity and can shift you into a higher price band.
We don’t publish rates, because the number that matters is the one you personally qualify for. What we can do is tell you which of the six above is working against you, and whether it is worth fixing before you apply. Ask us where you sit.
We are finance brokers, not tax advisers. Deductibility depends entirely on how the borrowed funds are used and on your own circumstances. Confirm the treatment with your registered tax agent or the ATO before assuming anything. Everything else on this page is described in the important information at the foot of the page.
Start Here
What Are You Funding?
Six situations that cover most personal loan enquiries. Pick the one closest to yours.
Consolidating cards and debts
Worth doing only if the new loan is genuinely cheaper after fees, and the cards don’t get rebuilt.
Renovating without touching the mortgage
Keeps your existing loan structure, offset and fixed rate intact.
A wedding or a medical or funeral cost
No discrete asset to pledge, so this is where unsecured lending genuinely fits.
Buying a car privately
Securing it against the vehicle is usually cheaper than an unsecured loan, even privately.
Borrowing a larger amount
If you own property, releasing equity usually costs far less per year. The longer term is the trade-off.
I don’t know the total yet
A line of credit lets you draw as you go and pay interest only on what you have used.
Social Proof
120+ Five-Star Google Reviews
Pulled live from Google.
Joseph Sukkar
Principal Broker · ACL 390611
Who You’re Dealing With
Built on 25 Years in Australian Finance
Joseph Sukkar started in finance in 2000 and founded Intellect Finance in Penrith in 2005. Since then the team has arranged more than 6,500 loans for clients across Australia, from first homes to complex commercial and asset finance.
Personal and asset finance sits with Chantelle, our Asset and Personal Finance Specialist, who works in this area every day rather than treating it as a favour between mortgages. The useful work on a personal loan happens before anything is lodged, because every application is recorded on your credit file and a run of declines makes the next lender more cautious. The spread between lenders is wider here than on any other consumer product, so working out who will say yes first is what decides both the approval and the price.
Part of Our 100+ Lender Panel
The names most people recognise are residential lenders. Much of what we arrange runs through funders that do not advertise to the public. Accreditation with a lender is not an endorsement by it, and which lender suits you is decided by your file rather than by who is on this list.
The Difference
Why Use a Broker for a Personal Loan
Comparison sites rank on commercial arrangements and show you an advertised rate. Neither tells you what you would actually be offered.
One Application Instead of Five
We identify the lender most likely to approve you before anything is lodged. Your credit file records one enquiry instead of a trail of declines that make the next lender more cautious.
Legally On Your Side
Personal loans are regulated consumer credit, so we are required to act in your best interests under federal law. A lender’s own staff carry no equivalent obligation.
No Fee. Not Even Clawback.
We don’t charge you for the comparison or the application, and we don’t invoice you for clawback if you pay the loan out early. That also means we have no reason to steer you away from a cheaper product.
We’ll Tell You Not To
If securing the loan against a vehicle or releasing equity would cost you less, we will say so, even though the personal loan would pay us more. That is the whole basis of a twenty-year practice.
Ask Before Your Credit File Takes the Hit
We identify the lender most likely to approve you, and say so if securing the loan would cost you less. Fifteen minutes. No obligation.Track Record
A Specialist Rather Than a Sideline
Personal and asset finance sits with Chantelle, who works in this area every day rather than treating it as a favour between mortgages.
The Process
What Happens and What We’ll Need
Nothing touches your credit file until you have seen the options and chosen a lender.
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15 minutes
The first call
The amount, what it is for, your income and existing commitments, and an honest picture of your credit history. No documents and no credit enquiry. You will finish the call knowing which lenders will consider you, and whether a cheaper structure exists.
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You gather
Documents
Lighter than a mortgage. We confirm exactly which of these your lender wants before you go looking.
- Photo identification
- Recent payslips
- Recent bank statements
- Details of debts and card limits
- Evidence of the purpose
- Tax returns, if self-employed
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We handle
One lender and one application
We lodge with the single lender whose credit policy best fits your profile, with the purpose documented properly. One clean enquiry rather than five speculative ones.
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We manage
Approval and funding
We manage conditions and lender communication through to funding. For a consolidation, the lender can usually pay out your existing debts directly rather than depositing funds to you.
Questions Answered
Personal Loan FAQs
The questions people ask us most often before getting in touch.
What is a personal loan?
A personal loan is money borrowed for a specific purpose and repaid in fixed instalments over a set term, commonly one to seven years. It can be unsecured, with no asset pledged, or secured against something such as a vehicle. Personal loans are regulated consumer credit, so lenders and brokers have responsible lending obligations.
What can I use a personal loan for?
Most are used for debt consolidation, home renovation, medical or dental costs, a wedding, a funeral, or a used vehicle bought privately. Some lenders also fund caravans, boats and motorcycles. The purpose matters more than people expect, because lenders specialise, and the same application can be priced very differently depending on what the money is for.
What determines the rate I am offered?
Your credit history and score, whether the loan is secured or unsecured, the amount and the term, the stability of your income, and the purpose of the loan. Personal lending has a wider spread between lenders than any other consumer product, which is why comparing the panel matters more here than it does on a home loan.
Is a personal loan the cheapest way to borrow?
Often not. If you are buying a vehicle, securing the loan against it is usually cheaper. If you own property and are borrowing a larger amount, releasing equity through a refinance is usually cheaper again, though the term is far longer so the total interest can end up higher. We model the alternatives before recommending a personal loan.
Should I choose secured or unsecured?
Secured loans price lower because the lender can recover the asset if you default, so they suit a vehicle purchase. Unsecured loans cost more but put no specific asset at risk, and they suit consolidation, renovations and life expenses where there is nothing discrete to pledge. Defaulting still damages your credit file either way.
Will applying damage my credit score?
Every application is recorded on your credit file, and several applications in a short period is a negative signal to the next lender. That is the main practical risk of applying to lenders one at a time to see who says yes. We identify the lender most likely to approve you before anything is lodged, so there is one application rather than five.
Can I get a personal loan with bad credit?
Sometimes. Recent defaults, current arrears and undischarged bankruptcy are usually declined. Discharged defaults, older payment issues and thin credit files can often be placed with specialist lenders, at a higher rate. The important part is knowing which lenders will consider your specific history before applying, rather than accumulating declines.
How long does approval take?
It depends on the lender. Online-first lenders can decision within a couple of business days once documents are complete, while traditional banks generally take longer. Funding after approval is usually quick. If your timeline is tight we prioritise lenders with faster turnaround, and tell you up front which category you are in.
Is the interest tax-deductible?
Generally not, where the loan is for personal purposes such as a holiday, a wedding, medical costs or a private car. Interest may be deductible where the borrowed funds are used to produce income. Tax outcomes depend entirely on the use of the funds and your circumstances, so confirm the treatment with your registered tax agent before assuming anything.
What does Intellect Finance charge?
Nothing. We do not charge the borrower a fee on any loan type, and we do not charge a clawback fee if you pay the loan out early. Lenders pay a commission on settlement, disclosed to you in writing in our Credit Guide before any work begins.
Visit Us
Penrith Based.Clients Australia-Wide.
Penrith is our head office and the one you can walk into without an appointment. We also meet clients at Parramatta and in the Sydney CBD by arrangement. Personal lending runs almost entirely by phone and email, so we work with clients in every state.
Ready When You Are
Find Out Who Will Say Yes Before You Apply.
Fifteen minutes with Chantelle. We’ll tell you which lenders will consider your profile, whether a cheaper structure exists, and what would need to change to improve your pricing. No credit enquiry until you have chosen. Penrith based, clients Australia-wide. Intellect Finance Pty Ltd, ACL 390611.
Personal loans are regulated consumer credit, so Intellect Finance is legally required to act in your best interests under the Best Interests Duty in the National Consumer Credit Protection Act. Tax treatment depends on the use of funds and your circumstances, and should be confirmed with your registered tax agent. Nothing on this page is credit assistance, tax advice or an offer of credit, and no outcome is guaranteed.
Intellect Finance Pty Ltd | Australian Credit Licence 390611 | MFAA Member | AFCA Member
Important information General information only. Not credit assistance or an offer of credit. We charge you no fee. Every caveat and source on this page is collected here. Tap to read.
General information only. The content on this page is general in nature and does not take into account your objectives, financial situation or needs. It is not credit assistance, financial advice, legal advice or tax advice, and it is not an offer of credit. You should consider whether it is appropriate for you and seek your own advice before acting on it.
Nothing here is a guarantee. Loan approval, borrowing capacity, interest rates, loan to value ratios, timeframes and eligibility are determined by individual lenders and government bodies, not by us. They differ between lenders and change over time. Any figure, range or timeframe on this page is indicative and is not a quote, an offer, or a prediction of your outcome.
Best Interests Duty. Home loans and personal loans are regulated consumer credit under the National Consumer Credit Protection Act 2009. When providing credit assistance in relation to these products, Intellect Finance is required to act in your best interests.
How we are paid. Intellect Finance does not charge borrowers a fee for arranging finance, and does not charge a clawback fee where a loan is discharged early. Lenders pay us a commission on settlement. The basis of that commission is disclosed to you in writing in our Credit Guide before any credit assistance is provided.
Third-party information. Where this page refers to government schemes, regulatory settings or lender policy, that information is sourced from the relevant authority and was correct to the best of our knowledge at the date shown on this page. Those rules change, sometimes without notice. Always confirm the current position with the issuing authority or with us before relying on it.
Found something wrong? If you believe anything on this page is inaccurate or out of date, tell us at joe@intellectfinance.com.au and we will review and correct it.
Intellect Finance Pty Ltd | Australian Credit Licence 390611 | MFAA Member | AFCA Member