How do our secured loans work?

A secured loan from My Loan Solution can help you with those larger purchases or financial commitments. A secured loan is one that has some security for the lender attached to the loan itself and at My Loan Solution we offer a great loan solution for larger loan amounts and they can also be paid over a longer term. We offer competitive interest rates that are fixed and unlike some loan companies, My Loan Solution won’t charge you if you pay it off early.

At My Loan Solution, if you own your car outright and it’s registered in your name, then you can provide it as security for a personal loan. When the loan is drawn the debt is secured against this, which is referred to as collateral.

A secured loan is generally a little larger loan than an unsecured and ranges from $2,000 to $5,000. They are often used for larger purchases or to contribute to occasions which require a large financial commitment such as weddings or finishing off those house renovations. Whatever the reason, at My Loan Solution we are dedicated to helping your situation. Upon approval, we can have the money in your account in no time and the application process is a breeze.

We work out what’s best for you!

The team at My Loan Solution are dedicated to finding the best loan solution that works for you. Our secured loans can be taken over a longer loan term than our unsecured loans. They can be approved over terms up to of up to 52 weeks to ensure the repayment amount is affordable, as the loan amount is usually higher. Secured loans require a little more documentation in the application process as the vehicle registration papers need to be provided before the loan can be approved.

Application process

Our loan applications are simple, fast and convenient. At My Loan Solutions, we understand that every situation is different. Our team of dedicated Loan Specialists take the time to understand your situation to ensure that we get the right loan product to meet your needs and to ensure the process runs smoothly and quickly.

Getting a loan with My Loan Solution is quick and easy. You fill out an application online and once all your supporting documents have been provided you can generally have an answer within two business hours. Our experienced Financial Consultants are available to take you through the application process right up to the final stage where the funds are transferred to your account.

At My Loan Solution, we pride ourselves on making your loan process easy, so that you can rest easy. See how simple the application process is and apply now.

* This is a high cost agreement which is not suitable for your long term financial needs or ongoing financial difficulties as it is likely to be more expensive than other forms of credit.