You can borrow $1,000 with a payday loan and get same-day funding, even with bad credit.
If you need a loan today, but want time to pay it off, an unsecured payday loan may be worth considering. You can be approved in as little as one hour and get the funds on the same day, and then have up to two years to pay it back.
Find out how to apply and compare short term loans today.
- Bad credit applicants considered
- Fast approval service
- Borrow up to $2,000
100% confidential application
Sunshine Short Term Offer
A short term loan with a fast and easy application available to those with good or bad credit. You can apply today and get approved for up to $2,000.
- Loan amount: $2,000
- Loan term: 9-15 weeks
- Turnaround time: 30 minutes (conditions apply)
- Fees: 20% of borrowed amount + 4% of borrowed amount each month
- Income requirement: 50%+ of income cannot be from Centrelink
- Bad credit borrowers OK
- Quick and easy Approval
- No Credit Checks
Apply for $1,000 loans now
How can I get a $1,000 loan?
- Start by finding a suitable lender from the table above. You can compare your options by looking at the loan amounts that are available, the loan costs and how quickly you will get the loan. One of the most important aspects is the eligibility criteria so be sure to check this as well.
- Click through to the lender's site once you have decided which loan to apply for. You can review the final fees and loan terms on the site and submit your application. You will need your personal, employment and banking details on hand as well as information about your income, debts and any assets you own.
- Find out if you've been approved in a few minutes and receive your loan contract soon after. Lenders can usually send you your loan on the same or next business day.
How much will the loan cost?
Loans up to $2,000 that are repaid over a term of 16 days to one year operate under fee caps set by ASIC. You will not pay more than:
- Establishment fee: 20% of what you borrow
- Monthly fee: 4% of what you borrow
Am I eligible for a $1,000 loan?
The eligibility criteria will differ between lenders, but you'll generally need to meet the following requirements:
- Age. You'll need to be over 18.
- Residency. You need to be an Australian citizen or permanent resident.
- Income. You need to be earning a regular income.
- Centrelink. If you receive Centrelink payments as your whole income or as part of your income, lenders have various criteria you need to meet.
- Bad credit. Those with bad credit are considered, but many lenders will not accept you if you're bankrupt or under a Part 9 Debt Agreement. However, there are lenders that will.
Before applying for a loan, you should always check if you meet the eligibility criteria to give yourself the best chance of being approved.
What if I have bad credit – can I get a $1,000 loan with no credit checks?
No credit check loans up to $1,000 are available, but you should consider if applying for a loan with no credit check is necessary. Most short-term lenders will consider you for a loan even if you have a few bad credit listings on your file. Check the eligibility criteria listed for both bad credit and no credit check lenders and see which one best meets your needs.
Frank and Claire need a loan
Claire was on the way to her office when their car broke down. She was told the repairs would cost $950 in order to get it back on the road.
She shares the car with her husband Frank, so it was important they had it fixed. Trouble was, their credit wasn't great due to a few missed mortgage repayments, and they both weren't going to be paid until the end of the month.
Claire jumped online to see what her financing options were. She found a lender that considered bad credit applicants offering a $1,000 cash loan, so she applied online.
After being approved, she received her loan amount the following morning and was able to cover the cost of the car repairs.
How you can compare your options
- Fees. There is a cap on the fees that payday lenders can charge, which is set by Australian law. For a $1,000 loan they cannot charge more than a 20% establishment fee and a 4% monthly fee.
- Repayment terms. Generally, payday loans have a very short repayment period. Your repayment dates are generally structured around when you get paid, with the term ranging from 16 days to one year.
- Lender's reputability. It's important to check the reputation of the lender before submitting your application. How easy are they to contact and how transparent are they with their fees and information?
Things you should consider with a $1,000 cash loan
- They offer a quick turnaround time
These loans can be processed within a couple of hours and be in your account in as little as an hour or one business day.
- They have a set fee structure
You won't pay more than a 20% establishment fee plus a 4% monthly fee with your loan.
- The documentation required is minimal
You don't have to upload various documents to support your application. For instance, you can usually supply your Internet banking details rather than upload three months of your bank statements.
- They have higher interest fees
As a high-risk loan on the part of the lender, $1,000 loans tend to come with very high fees. The fees are capped but you also need to take into account dishonour fees and late payments fees.
- There are some disreputable lenders
There are lenders that may try to take advantage of people who need cash quickly. Always do your research on the lender before submitting a loan application.
Thinking of applying? Read this first
- Repeat borrowing. Many lenders allow you to borrow again, even offering members' areas that can make the second loan easier than the first. While this is a convenient option to have available, it can also be a dangerous trap to fall into. Consider your financial position and the cost of convenience for quick, $1,000 finance – will another loan hinder more than help you?
- High fees. Payday loans come with very high fees when compared to more traditional forms of credit, so consider all of your loan options before you apply.
How to apply for a $1,000 cash loan
If you've found a cash loan that you'd like to apply for from the above comparison tables, please click "Go to site" to be taken to the application page. Most forms take about 10 minutes to complete and you will usually find out if you've been approved in a few minutes. When it comes to receiving your loan, it depends on when you've applied and also who you've applied with.
Some lenders can have the $1,000 in your account within an hour of you accepting the contract, while other lenders may have it to you the next business day.
What kind of information will you need to provide?
This differs between lenders, but generally the following will be required:
- Your Internet banking details or the last 90 days of your transaction history
- Personal details including your name, driver's licence number and contact information
- Where you work, how long you've been there and the details of your employer
- Your financial position including your income, the frequency at which you get paid, as well as your current debts, assets and liabilities
Remember that you should always compare all your loan options before applying. There's a multitude of financing options available to you, so it's important to consider them all before you apply to make sure you get the right option for you.Back to top
The questions we've been asked about $1,000 loans
Am I eligible for a loan?
The eligibility criteria differs depending on the lender you apply with. To see if you're eligible for a loan, simply click on the name of a loan from the table above and review the eligibility criteria.
Do I need to fax documents in order to apply?
Most short-term payday lenders operate solely online and have dedicated loan approval systems that make it easy for you to apply. This means not many lenders require you to fax any forms to them – your finances and identity are usually verified online.
How quickly do I need to repay my loan?
Repayment terms vary, but payday loans are designed as short-term financial solutions and will usually be repaid quite quickly. Most payday lenders schedule your repayments so your entire loan is repaid in one to two months.
How do I make a repayment?
Most lenders will direct debit the specified loan amount on the repayment due date. This direct debit will be from your nominated bank account into which you receive your pay.
What are the interest rates and fees charged on my loan?
All lenders that offer short term loans under $2,000 are restricted as to how much they can charge you in interest and fees. For a loan under $2,000 that's repaid in 16 days to one year, you won't be charged more than 20% of the loan as an establishment fee and 4% of the loan as a monthly fee. Fees for defaulting or late payments may apply.
I'm having trouble repaying my loan – what do I do?
It's important to get in contact with your lender as soon as possible – preferably before the loan repayment is due. If you do this you may be able to avoid direct debit dishonour fees and late payment fees, as many lenders will be able to reschedule payments. In any situation, speaking to your lender is a good place to start.