Frequently asked questions

Why was my loan application denied?

Sorry we couldn’t offer you a loan right now. For security reasons, we can’t tell you exactly why.

There are a few things we look at when we make a decision, including your credit history, your financial situation and employment history. Please have a look at the list below, and you might see one or two which could relate to you.

We may say no, if:

  • Your existing level of unsecured debt is high
  • Your level of disposable income is low
  • There’s not enough proof that you’ve managed credit well in the past
  • You've applied for a loan with us in the past 6 months

You can always reapply for a Loansnest loan after 6 months. Please keep in mind, you won't be able to apply if you try again sooner than this.

Why do I have to pay service fee?

We know fees aren't popular, but the service fee helps us cover our costs. There's more to it than you might expect: from setting up your loan to keeping your payments ticking over month by month.

Service fees are paid monthly, at a fixed rate of $1,500.00

How do I apply?

Applying for a Loansnest loan is a simple online process.

There's no paperwork to deliver in person. We've built a secure system that carries out thorough checks and handles every stage of your application online.

How to apply in 2 simple steps:

Decide on how much money you will need and why.

We offer personal loans from $50,000 to 150,000 ranging from 3 to 12 months.

Apply online and get a decision within within seconds.

Just fill in our simple form to tell us a few details about you and your circumstances. Don't worry, this won't affect your credit score.

You will need to provide proof of your identity, income and or bank account statement. It's simple to do this online.

If approved, the money could be with you in as little as couple hours. Sometimes this process does take a little longer.

How can I make a complaint?

To make a complaint or get in touch with us for other reasons, contact us via live chat or email.

Can I cancel my loan application?

Change of heart? No problem. You can cancel your application before we give you a decision on your loan - and up to 14 days afterwards, if your loan is approved.

If your application is 'in review', you'll need to contact us to cancel it at (Monday to Thursday 9am to 5pm, Friday 10am to 3pm). You won't have to pay any fees or interest.

How to cancel after we've given you a decision:

You have a window of 24 hours after your loan was approved to let us know if you'd like to cancel. There are two ways to do this: at (Monday to Thursday 9am to 5pm, Friday 10am to 3pm) or speaking with a team via or website

This next bit is important:

If the money has already been transferred to your bank account you'll need to repay it within 2 days from the date you told us you want to cancel. We won't charge you interest.

If you don't repay the loan within 2 days after notifying us that you want to cancel you will be deemed to have accepted the loan. This means our normal terms and conditions will apply. So if you decide to repay early you'll have to pay back the full loan amount including any interest and the service fee.

Why do I need to provide documents?

As a responsible lender, we take several things into account to help us decide if we can lend to you.

We need to make sure you can afford to pay back what you borrow and we need to make sure that the information provided is accurate and belongs to the person that submitted it.