1. Being hit with an emergency or unexpected bill

Facing an unexpected bill or emergency cost can be overwhelming, especially at this time of year.

Needing urgent dental work, having to pay for an unexpected medical expense, or dealing with a sudden family emergency is stressful enough without the financial disruptions it brings.

If you’ve found yourself in this kind of situation, we may be able to provide the financial breathing room you need.

You can apply for an emergency loan online, which you can make lump sum payments to at any time without penalty. This is particularly ideal if the loan is to tide you over until an insurance claim or other payout comes in, as you won't be charged for repaying some or all of it early.

2. Managing high-interest debt

It’s easy to collect multiple debts over time like credit cards, store cards and car loans.

When the store card interest-free period runs out, or the interest rate and annual card fees on your credit card mean your repayments aren’t making much of a dent, it can feel like you’re not making any headway.

If you want to free up some money by reducing how much of your pay goes towards debt repayments or pay your debt off faster, 1Loan might help you get there by bundling your high-interest debt together at a lower rate.

3. Needing money for the Christmas break

You can apply for a personal loan to use towards whatever you need for the holiday break.

If you have PSS, you may be able to use it to secure your loan.

With a PSS secured loan, you don't need to draw down the total loan amount in one go. You can transfer money from your loan account as needed, and you’ll only be charged interest on what you draw down.

You can also make early or lump sum payments to your loan whenever you like without penalty.