Apply for our Magic Loan Low-Interest Program and recover your consolidated debts. We accept lower credit scores so don’t worry about being declined this time.
We are all aware it can be stressful looking for the right lending solution out of all the ones on offer. That’s why we make it easy for you!
We strive to increase our Insight Scores for Personal Loans to increase conversion rates and provide better customer service to our clients.
You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender
Loan amount
$300 - $2,000
Terms
12 months
Costs
20% upfront establishment fee
+ 4% monthly fee
Example
Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.
Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate
Loan amount
$2,001 - $4,600
Terms
13 months
24 months
Costs
48% annual percantage rate
67.41% comparison rate p.a.
Example
Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.
The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.
Loan amount
$5,000 - $10,000
Terms
13 months
24 months
Costs
21.24% annual percantage rate
48% comparison rate p.a.
Example
Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.
The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.
ABOUT US
Here at Magic Loan, our mission is to help our clients when it comes to managing their finances in a simple and easy way. We make things easy to deal with for you. We provide custom solutions for you to get a fair interest rate that you can definitely afford. You can rely with our team of friendly and professional agents that will assist you throughout the process of acquiring a personal loan.
So, make your plans a reality today with us at Magic Loan.
magicloan.com — Leadbrain limited; Authorised Representative of Marketplace Finance Pty Ltd, ACN 608 607 227, Credit Representative Number: 487316. We are a referral service only and do not directly fund any credit product. Your request will be referred to a third party lender who will contact you directly to ascertain if they can facilitate your requirements. The third party will inform you of their fees, charges and terms as relevant to your application before you would enter any contract with them. The third party may perform a credit check but will get your consent before doing so. We may receive a referral fee (amount not ascertainable) from the third party depending on the outcome of their dealings with you. It is recommended that you obtain independent legal and financial advice before taking up any products that you may be referred to and offered.