Liberty Helps Australians Achieve Goals with Personal Loans

Personal loans are an alternative to Buy Now, Pay Later (BNPL), offering fast access to upfront funding and predictable repayment structures that reduce the stress of big purchases.

The Federal Government recently requested submissions on draft legislation to regulate BNPL products, aiming for better borrower protection. BNPL allows Australians to purchase items with interest-free instalments but lacks the regulations applied to banks, including dispute resolution and hardship support.

According to non-bank lender Liberty, personal loans are a suitable option for those needing funds for multiple purchases or significant amounts. "Personal loans support Australians to fund big purchases or projects that might have otherwise been out of reach," said Kate Jenkinson, Manager - Group Communications.

Personal loans can help achieve various goals, from debt consolidation to buying a new car or caravan, funding home renovations, overseas holidays, medical expenses, or bridging cash flow gaps. They provide quick access to funds and clarity on costs.

Liberty offers tailored rates based on factors like credit score and financial history, adopting a holistic approach. "We look at a range of factors and take a more personal approach to helping borrowers secure the funding they need," added Ms Jenkinson.