Guaranteed Personal Loans

Posted December 10th, 2010 and last modified April 10th, 2014

Guaranteed Personal Loan Offers

A lot of people automatically assume that they cannot get a loan if they have bad credit. This is no longer the case. There are numerous lenders that have carved a great niche by issuing guaranteed personal loans to people who have bad credit. Although you will be forced to pay a higher interest rate than people who have perfect or even good credit, you are still able to borrow money via guaranteed personal loans.

Instant Approval Personal Loans Comparison

Cash Train Payday Cash Advance Loan

Borrow up to $1000

Cash Train Payday Loans offers a fast and easy online application. Apply today to get approved.

  • Loan Amount: $1000
  • Loan Term: 16-31
  • Turnaround Time: Same Day
  • Total Cost of Borrowing $100: 24% of loan principle
  • Bad credit Ok
  • No security needed
  • Quick Approval
  • Confidential and secure!

    Personal Loan Loan Amount Term of Loan Turnaround Time Requirements Total Cost of Borrowing $100
    Nimble Short Term Loan
    Nimble Short Term Loan
    Apply for a short term loan and you could borrow up to $1,200. $1,200 16-50 1 hour - conditions apply* You must be over 18 and not receiving Centrelink benefits as your primary source of income 20% of principal amount (establishment fee) + 4% of principal amount per month. ApplyMore
    Cash Train Payday Cash Advance Loan
    Cash Train Payday Cash Advance Loan
    Apply for a Cashtrain Payday loan and get up to $1,500 in your bank account $1,500 16-31 Same Day You must be over 18, and in full time employment earn over $1,200 a month 24% of loan principle ApplyMore
    Perfect Payday Loan
    Perfect Payday Loan
    Need cash but have bad credit? Apply for a loan today to borrow up to $1,000 $1,000 Next payday 60 second You must be employed full or part time (receiving holiday and sick pay), You've been employed for at least 3 months. 20% of principal amount (establishment fee) + 4% of principal amount per month. ApplyMore
    GetPaidToday Payday Loan
    GetPaidToday Payday Loan
    If you meet the criteria you could get up to $1,000 within the hour. $1,000 16-50 Same Day You must be employed full or part time and 18 years old 20% of principal amount (establishment fee) + 4% of principal amount per month. ApplyMore

    Secured Personal Loans

    Basically, there are two types of loans which are secured and unsecured loans. With a secured personal loan, in order to qualify for the loan, you must be willing to put up some type of collateral in case you default on the loan. Mortgages are an example of this type of loan. When a person obtains a mortgage, they are basically putting up the home as an asset just in case they default on their loan. If they default, the bank is able to seize the home and use it in order to get what is owed. Generally, secured personal loans have a much lower interest rate and are easier to get since collateral is provided.

    However, these loans are a terrible option for anyone with bad credit. These are guaranteed personal loans that are backed by collateral. Usually only people with excellent credit are willing to put up their homes with the hopes of getting a much lower interest rate than with an unsecured loan. However, it would probably be a very risky and foolish move on your part to do the same thing.

    learn more about secured personal loans

    Unsecured Personal Loan

    A secured personal loan is the best bet for someone that has bad credit. Collateral is not needed. In order to get a decent interest rate, you must have good credit which is why you will only be able to obtain unsecured personal loans that have a much higher interest rate.

    If you have really bad credit, your only option will probably be a payday loan. Basically, payday loans and guaranteed personal loans are considered to be one and the same. There is no credit check and you are guaranteed to have the money in your account within 24 hours.

    All in all, people with bad credit can get personal loans but with a much higher interest rate. There are two types of loans but people with bad credit are limited to unsecured personal loans which are usually synonymous with guaranteed personal loans in the form of payday loans.

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    16 Responses to Guaranteed Personal Loans

    1. Default Gravatar
      De | November 19, 2013

      Need a loan of 3500 where and who I have 2 defaults

      • Staff
        Marc | November 19, 2013

        Hello De,
        thanks for the question.

        I can’t recommend any lenders, so a good option would be to conduct a search of non-conforming lenders, as they can sometimes offer loans for those with defaults. Remember though that these loans may have higher interest rates and fees, so be sure to compare. Finally, note that each loan application you make will be recorded on your credit file too. Too many of these in one space of time will make it harder to get a loan so be weary of this.

        I hope this helps,

    2. Default Gravatar
      Allan | September 10, 2013

      I need a 1500 loan ASAP in within a couple days can anyone help

      • Staff
        Marc | September 11, 2013

        Hello Allan,
        thanks for the question.

        We don’t source loans but rather allow you to compare them on our site. You may need to view lenders directly, research and compare a number of loans you’re interested in, and contact the bank to discuss your enquiry directly.

        I hope this helps,

    3. Default Gravatar
      bec | June 5, 2013

      I need a $11-$12,000 loan for my wedding. I have 3 defaults on my file – which have all been paid and finalised.

      Who, where and what do I do? No bank will even look at me..

      • Staff
        Marc | June 5, 2013

        Hello Bec,
        thanks for your question!

        Unfortunately defaults stay on your credit file for six years. Making steps to pay and finalise them is a good idea, although these will still remain on your file.

        Defaults signal a red flag for lenders, as applicants with defaults on their credit file may seem less likely to be able to pay their loans back.

        There aren’t too many options apart from waiting it out. It should also be noted that every application you make for credit will also appear on your credit file, and too many applications in one time period can also look bad to potential lenders.

        Some lenders advertise to be able to provide loans to those with bad credit, although these can come with hefty fees and/or high rates, so caution is advised it you take this path.

        I hope this helps,

    4. Default Gravatar
      michelle | January 31, 2013


      I have bad credit, can I still get a loan.
      I HAVE A AR I can use as collateral

      • Staff
        Adrian | February 1, 2013

        Hi Michelle. There are still lenders who may take you on.

        You may want to consider calling a couple of companies you want to borrow from and find out whether you’ll qualify before you apply online, as you don’t want to have too many hits on your credit record, as this can reduce your ability to get a loan.

        Thanks for your question.

    5. Default Gravatar
      Micheal | January 11, 2013

      Hi, just wondering if all goes well and repayment has been made back in full, would it reflect positively on your credit check ?

      • Staff
        Adrian | January 14, 2013

        Hi Micheal. Thanks for your question.

        Yes, meeting your repayments in full and on time makes a good impact on your credit record.

        All the best.

    6. Default Gravatar
      Michelle | January 3, 2013

      Hi I have a bad credit at the moment just wondering what I need to do to get a loan. Thanks michelle

      • Staff
        Adrian | January 3, 2013

        Hi Michelle. Providers of debt consolidation loans may have a larger scope to provide personal loans to people with blemishes on their credit records. I hope this helps as a starting point for your search.
        All the best.

    7. Default Gravatar
      Ziad | June 4, 2012

      I have a good credit rating however cant prove I make a good income…what amount personal loan can I get?

      • Staff
        Marc | March 26, 2013

        Hello Ziad,
        thanks for the question.

        The amount a lender will approve will depend on how much they think you can pay back, so it may be useful to call a lender directly to discuss your situation and how much you could be possibly approved for before applying.


    8. Default Gravatar
      Anonymous | April 24, 2012

      I have just applied online for two bank loans of $30000 and have been declined I am not understanding why. I earn a good income and don’t have a lot of financial commitment. I really want a new car. How can I get approved for this money?

      • Staff
        Marc | April 3, 2013

        Hello Anon,
        thanks for the question.

        Lenders may reject loan applications for many reasons, one of which includes marks being found on your credit file. For more information it may be helpful to read this article.

        I hope this helps,

    Personal Loans Comparison

    Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee
    NAB Personal Loan Unsecured Fixed
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    SocietyOne Low Interest Personal Loan
    Pay off your personal loan faster with the freedom to increase your repayments at any time and save money. Enjoy 1.25% discount on rate for a limited time. From 9.8% (variable)
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    A low fixed interest offer for new car loans. From 7.45% (fixed)
    7.88% Info
    $5,000 1 to 7 years $294 ApplyMore
    Aussie Personal Loan
    Aussie Personal Loan
    A wedding, new car or holiday. Aussie offers personal loans with flexible loan terms. From 12.99% (fixed)
    13.94% Info
    $3,000 1 to 7 years $199 ApplyMore
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