How it Works
The Personal Loan Process
Our personal loan application process is quite simple. We have some clever tech in the background doing all the hard work, to make the application process as simple and quick as possible.
First check you meet our basic criteria and that any loan you take with us is affordable for you. Start your application online where we will ask for some basic personal information, such as your name, address and contact details. After that, we need to know about your income and expenses. Once we have these details, we will then need to take a scan of your latest 90 days bank statements and for your convenience, these can also be sent to us digitally as part of your online application with Noddle. If you've got this far, it should only have taken you between 6 and 12 minutes on average for our customers.
Next we will review your application and make a loan approval decision within 60 minutes1 of your application being submitted - during regular office hours. If all is good and we have given you a loan offer, you will need to review and sign your loan contract with us online. Once this has been signed, we can send the money to your account within 60 seconds2!Get Started
Steps to Apply
- Check that you meet our basic criteria
- Apply online in 6 to 12 minutes
- Give us your bank statements as part of your application
- Get your loan approval decision within 60 minutes1
- Review and sign your Noddle contract
- Money sent to your account within 60 seconds of signing2
- No early repayment costs or charges
Learn More: Personal Loans
How can I qualify for a Noddle loan?
In order to qualify for a Noddle loan, the loan must be affordable for you and you must meet our basic criteria rules, as below:
- Over 18 years of age
- An Australian Citizen or Permanent Resident
- Have a regular income
- Use internet banking
- Have a mobile phone and email address
How much could I borrow through Noddle?
The amount of money you could borrow from Noddle, will depend on the type of loan you are looking for and also whether you cancomfortably afford to make the lan repayments.
For our Personal Loans the maximum loan available goes up to $25,000.
How long will the application take?
We find most customers complete their applications online within 6 to 12 minutes, including digitally sending us your bank statements as part fo the application.
What information will I need to provide?
You will need to provide some basic identity information such as your name, address, email and mobile number, plus details of your income from employment plus any benefits you may be entitled to. We will also need to review your outgoing expenses such as travel, utility costs, groceries and other loans. Finally, we will also need to take a digital scan of your latest 90 days bank statements, which we can take automatically as part of your application with us online.
How can I send you my bank statements?
Your bank statements can be taken online as part of your application with us. We only take digital bank statements via our secure bank statement partner where you will be required to log into your account. Noddle will not have direct access to your bank account but will recieve a digital copy of your bank accout balance and activity via our secure bank statement partner.
Why can't I email you my bank statements?
Noddle uses some of the latest tech to review your application automatically in many cases, saving you time, so we can provide you with a loan decision as fast as possible. By taking your bank statements digitally, we can do all the checks we need in seconds, unlike with paper scans which would need to be manually reviewed and are also subject to possible fraud.
Is Noddle a Lender?
Yes, Noddle is a lender and our aim is to provide you with the best possible loan rate and terms that we can. If we are unable to help you directyly, we may refer you to one of our partner companies to complete your loan.
How can I get the best loan rate via Noddle?
Lenders generally will offer a better loan rate to people when they have a better credit rating. With Noddle, we offer loans at different loan rates from excellent to good or not so good, so whatever your loan rating, or even if you are not sure what your loan rating could be, by applying through Noddle, we will do the hard work in the background to find you the best rate we possibly can3. All you need to do to get the best rate with us is to make an application and we'll get you the best rate we can. If in some cases we are unable to help you directly, we may refer you to one of our partners who may be able to help.
When will I know if my application has been approved?
At Noddle, once your application is complete, we can generally give you a loan approval decision within 60 minutes1, during regular office hours.
After approval, when will my loan get funded?
After approval, and as soon as you have reviewed and signed your contract, we aim to send money to your account (personal loans) in 60 seconds2.
How much will my loan cost me?
Please see our Costs and Charges page for more details.
Are there any early repayment fees or charges?
Absolutely not. There are no early repayment fees or charges when you repay your Noddle loan early.
Personal Loans Interest Rates
Credit criteria and terms and conditions apply. Representative example: based on a loan of $10,000 over 36 months a borrower with an excellent credit history can expect to pay a total of $11,965.68. Interest rates vary subject to a full credit assessment. This represents a comparison rate of 12.05% p.a. and includes all interest and fees included in your loan repayments over the life of your loan. For our personal loan product the APR starts from a minimum of 8.69% (12.05% comparison rate) and a starting maximum of 21.24% (32.52% comparison rate). The minimum loan term is 9 months and the maximum loan term is 24 months.
WARNING: This comparison rate is valid 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.
60 Minute Loan Decisions
1 60 Minute Loan Decisioning and Approvals are an average, to be used as a guide for a typical customer and are not guaranteed. 60 Minute Loan Decisioning and Approvals are not available when applicants apply outside of our normal business hours of 8am till 4pm Monday to Thursday, 8am till 12 noon on Fridays and Saturdays AEST or public holidays.
Loans Paid Out in 60 Seconds
2 It is possible to have your funds sent to your bank account in 60 seconds, if you have a New Payment Platform enalbled (NPP-enabled) bank account. A large number of Australian banks use NPP including ANZ, Bendingo Bank, Bankwest, Bank of Melbourne, Commonwealth Bank, Citigroup, HSBC, ING, NAB, St.George and more. Check whether your financial institution is NPP-enabled.
Best Loan Rate for You
3 Noddle does not have one fixed loan rate which it uses for all customers and loan applications, but will offer tailored loan rates depending on your individual circumstances and financial profile, as reviewed, during your credit assessment. Noddle will work to offer our best loan rate we can give the customer. If we can't assist a customer at our best rate, we will review the application against the next tier and rate until we find a match for the customer. This allows us to say 'yes' and give more customers 'the nod' with Noddle.
If Noddle is unable to assist with a loan directly, we may refer the application to a third party panel of lenders to 'get the nod'.