When should you consider applying for a personal loan?

As more Australians than ever seek ways to manage their living costs, many are turning to personal loans. When shopping for options, it's important to research and carefully consider your circumstances before signing on the dotted line.

Financial advisor with couple explaining options. The agent is using a computer. Couple are casually dressed. They sitting in an office and are discussing something with the agent. Credit: courtneyk/Getty Images

Key Points

• nterest rates and fees vary according to the lender, loan type and your circumstances.
• Your credit score tells the lender whether you can manage a loan responsibly.
• Lenders only care about your Australian credit history

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