If a single person living with parents earns $60,000 pa before tax and they didn’t have any property and no other loans/liabilities, around how much would he be able to borrow in a personal/unsecured loan from a bank/lender? e.g. in the situation of a family emergency. Thanks.
No credit history either? (No bad credit history?) I would think nab personal loan 12.99 percent for 7 years could get you pretty high. Limited to 55k. You could prob get 30/40k with a same day approval. Valid reason May or may not be family emergency.
There are a few variables in this – ie if you already bank with a bank you have a better chance of getting approved for more than if you are a new to bank customer, what loan term you want, sometimes longer isn’t always better, your ability to repay so if you have savings built up already etc
The main issue I see is the purpose. There are a few lenders out there who lend for ‘family emergency’ but as a general rule nab is not one of them. They don’t like to lend funds if there is no direct (usually tangible) benefit to yourself.
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
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