Personal Loans for Jewellery

Make your next sparkling purchase with a personal loan by comparing the best low rate offers with Savvy.

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, updated on October 4th, 2023       

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The features and benefits of personal loans for jewellery

Capitalise on low base rates

Compare loan offers from a range of trusted Australian lenders, with both secured and unsecured deals available for you to help you find the best one on offer for you. 

Choose to repay over one to seven years

You get to have a say in how much your repayments cost month-to-month, with terms available between 12 months and seven years to shape your instalments to your needs.

Loan amounts from $2,000 to $75,000

Whether you’re looking at a simple, cheaper piece of jewellery or the most expensive necklace in the store, you can access a broad borrowing range with a personal loan.

60-second approval, 24-hour funding

After you complete a simple application process, you’ll receive an instant outcome in just 60 seconds before having your money transferred directly to your account a day later.

Pay it out early

We partner with many lenders who won’t charge you for making additional repayments, enabling you to pay your loan off early and save on interest and fees overall.

No deposit necessary

There’s no need for you to stump up any significant funds from the outset of your loan agreement, allowing you to access funding for 100% of the cost of your jewellery.

Types of personal loan

Why compare personal loans through Savvy?

What to do before you apply for your personal loan

Common queries about personal loans for jewellery

Can I get pre-approved for a jewellery personal loan?

Yes – personal loan pre-approval can be highly useful for borrowers. In essence, this is a conditional, non-binding approval that indicates to you how much your lender would be willing to approve you for. This helps to give you an idea in advance of your purchase as to what your budget will be for your jewellery. It’s important to note, though, that pre-approval doesn’t guarantee that you’ll be approved for the same amount or indeed approved at all.

If I’m self-employed, am I still eligible?

Yes – all different employment types are accepted when it comes to personal loans, with self-employed workers being no exception. Because they don’t receive their income through payslips like standard employees do, you’ll be required to submit your tax returns from the two most recent years. If you’re able to do this, you can apply for a personal loan like anyone else, but if not, you may have to look to a low doc personal loan (which utilises alternative documentation in your application).

Should I apply with a guarantor?

If you’re buying jewellery for yourself, your partner or someone else and don’t quite have the borrowing profile to back up a personal loan, you can look to a guarantor to help you out. This is someone, typically a parent or grandparent, in a stronger financial position who guarantees the repayment of your loan. Doing so can increase your borrowing power and lower your interest rate, as it serves as further security for your lender. As long as you keep on top of repayments, your guarantor doesn’t need to be involved.

What will my repayment schedule be?

You get to choose your repayment schedule based on your personal preference. Our lenders will enable you to structure your repayments around a weekly, fortnightly or monthly basis, with the latter being the most common on loans. Ultimately, you should choose whichever option best suits your own income frequency, as you should make them as often as you feel comfortable.

Can I buy new or used jewellery?

You can buy either – personal loans are designed to be flexible to your needs, meaning you can basically use them however you like. As such, you can purchase an engagement ring brand-new from a jewellery shop or buy a retro watch from a private seller. Once the funds hit your account, you can essentially utilise them without restriction.

Am I able to use my personal loan to cover other expenses too?

Yes – similarly, personal loans don’t have to be taken out to serve only one purpose at a time. In addition to seeking finance for an engagement ring in Australia, you might wish to also add further funds to your loan deal to cover repairs or improvements around your home or to cover ongoing medical bills. When it comes to making use of your loan funds, the sky is the limit with the number of different uses for them and the ways that you can use them.

Is the jewellery used as security for the loan?

No – lenders who offer secured personal loans typically ask for a substantial asset as collateral, which is likely to be your car, boat, motorcycle or caravan. While jewellery is often highly valuable, lenders tend to prefer these types of assets for securing loans. There are several advantages to providing security on your loan, primarily that it can increase your borrowing power and will lower your interest rate compared to what you might receive on an unsecured loan.

Helpful personal loan guides

Still looking for the right personal loan?

Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.