Frequently Asked Questions

Below you will find the answers to all the commonly asked questions. If you still haven’t found what you were looking for, please contact us and we will be more than happy to assist.

Do you loan to people with bad credit?

The short answer is that everyone deserves a second chance and therefore we do say yes to some people that have bad credit. That said, we are responsible lenders, and you’ll need to be able to afford the payments, as well as provide security.

What is the minimum amount you lend?

The minimum amount we will lend onsuitable security is $500.

What is the maximum amount you lend?

The maximum amount we will lend on suitable security is $100k.

What is the minimum term you will lend over?

The minimum term we will lend over is 6 months on any amount over $500.00.

What is the maximum term you will lend over?

The maximum term we will lend over is 3 years but this only applies to larger loans — usually $4,000.00 and over.

What is debt consolidation?

If you have multiple HP’s or loans with other companies, you can combine them into one single payment that you can afford. This is called debt consolidation. This often helps reduce your costs, so you’re not getting charged penalties from other companies for missing payments.

Do you do beneficiary loans?

Yes, we do. If you’re on the benefit, you have a stable, reliable income and yes, we can help with a beneficiary loan provided you can afford the repayments and can provide security.

Can I get a loan on a benefit?

Yes, you can! Assuming you can afford the weekly payments and you have a form of security. Beneficiary loans are very common at Crester Credit.

What do I do if I can’t pay my loan?

If you’re struggling to make your payments because your situation has changed, then it’s important you chat with us, rather than letting the pressure build. We are here to help 🙂  Phone us on (03) 385 4854.

What if I fail to maintain my loan repayments?

If you are unable to maintain your loan repayments you must contact the office immediately. We will do our best to help you work through the situation without the stress of possible recovery action.

What happens if I miss a payment?

If you miss a payment you will be contacted by phone or letter.
Note: charges may apply – these are explained in your contract

Can I reduce my loan payments?

If your situation has changed and you’d like to reduce your payments, we may be able to extend the loan term. It’s best to call us about this on (03) 3854 854.

Can you get a loan while on a pension?

Yes, you can. Often the banks will say no, but we will say yes.

How do you get a loan if you are retired?

Crester credit enjoys helping retirees because often the banks have closed the door. We’ll happily help you through the application on the phone, or guide you through our application form online.

Can you be too old to get a loan?

No, if you’re able to provide loan security, then Crester can help.

Can pensioners get a loan?

Yes, if you’re on a pension then Crester Credit can help with a loan but only if you can afford the repayments 🙂  We are responsible lenders.

Can you get credit if you are retired?

Yes, Crester can provide credit to retirees.

Is your website safe to use?

Your security is important to us. Our website offers robust security systems to keep your personal details safe. You can read more about this here.

Can I get a WINZ Loan?

If you’re on a benefit from WINZ, then yes we will look at giving you a loan. Just apply online using our application form, ensure you have a photo ID, and we’ll aim to have your approval answered within just 24 hours.

How to get a Payday loan?

At Crester Credit, we give personal loans, not Payday loans. A Payday loan is usually very expensive in interest and usually not good for your financial situation.

What security do I need?

You can provide security such as a vehicle, furniture, or any other assets you own that has a value at a similar or greater value to the loan amount you want to borrow.

Can I have someone else’s name on the loan?

Yes, you can have a joint loan application. When you apply online, you’ll be given the option to add an additional borrower.

What is your loan interest rate in comparison to competitors?

You can borrow from Crester at an annual interest rate ranging from 13.95% to 26.98% per year.

What is the interest rate?

We try to match credit card rates but our rates vary depending on your credit history and security. Once set, our interest rate is fixed for the term of your loan.

How long does it take to get my loan approved?

We usually have your loan application approved within 24-48 working hours.

Why is my loan application taking so long?

If you haven’t received an answer in your expected timeframe, it’s best to call our office on (03) 3854 854.

Does bad debt ever go away?

Bad debt can go away if you’re given the opportunity to redeem your credit score. Crester Credit helps people that can prove that they’re back on course financially and together we can assist in helping you build back up a good credit score.


Calculating time

Our online application form takes only six-eight minutes to complete. Start by filling this in, and if you’d like to talk with one of our loan officers, please make a note of it in the application.