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$1,000 cash loans

Compare $1,000 cash loans today

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$1,000 loans are small, short term loans, otherwise referred to as "payday loans". Payday loans are not long term finance solutions, but are generally used in the case of financial emergencies to cover costs until payday. Payday loans are usually available to people with good and poor credit histories alike, as their high costs to customers mitigates the risk of lending to bad credit history borrowers. Customers looking for payday loans should be aware that payday lenders generally charge the maximum fees as permitted by the Australian Securities and Investment Commission (ASIC) on their loans.

Find out how to apply for and compare short term loans today.

Are you struggling financially?


If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help

⚠️ Warning about Borrowing

payday-warningDo you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

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Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-14 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Go to site More info

$1,000 loans available today

Data indicated here is updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
$2,000
9-14 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
$2,000
62 days to 3 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$372
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
$5,000
22 - 52 weeks
Same day - conditions apply
$35
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
$396
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Moneyspot Small Loan
$2,000
Up to 90 days
1 hour - conditions apply
$35
20% of loan amount establishment fee + 4% of loan amount monthly.
$396
Borrow under $2,000 and benefit from a transparent fee structure and a simple application. Bad credit borrowers considered.
Ferratum Cash Loans
$1,900
3 to 12 months
Same day - conditions apply
$55
20% of borrowed amount + 4% of borrowed amount each month
$396
Borrow what you need with loans starting from $500 and approval in minutes.
Speckle Small Loan
$2,000
3 to 12 months
1 business day
$5
10% of loan amount + 2% of loan amount each month
$348
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.
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Compare up to 4 providers

Data indicated here is updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
$2,000
9-14 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
$2,000
62 days to 3 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$372
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Credit24 Short Term Loan
$2,000
6-12 months
Same day - conditions apply
$10
20% of loan amount establishment fee + 4% of loan amount monthly.
$396
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
Ferratum Cash Loans
$1,900
3 to 12 months
Same day - conditions apply
$55
20% of borrowed amount + 4% of borrowed amount each month
$396
Borrow what you need with loans starting from $500 and approval in minutes.
Speckle Small Loan
$2,000
3 to 12 months
1 business day
$5
10% of loan amount + 2% of loan amount each month
$348
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.
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Compare up to 4 providers

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. Customers will not pay more than:

  • Establishment fee:20% of what you borrow
  • Monthly fee: 4% of what you borrow

For example, a loan of $1,000 repaid over a 60 day loan term will cost:

  • Establishment fee: $200.00
  • Monthly fees: $80.00
  • Total to be repaid: $1,280.00
  • Fortnightly repayments: (x5) $256.00

Please note that this cost is calculated based on a loan that is repaid on time each month. Payday lenders can also charge high late payment and default fees. If applicants think that they may have trouble repaying a loan, they should perhaps consider an alternative method of procuring finance, such as an overdraft with their current bank.

How to apply for a $1,000 cash loan

Prospective applicants who have found an appropriate loan and would like to submit an application from the above comparison tables please can click "Go to Site" to be taken to the application page. Most forms take about 10 minutes to complete and applicants will usually find out if they've been approved in a few minutes. When it comes to receiving a loan, it depends on when the application was submitted, and also who the application is with.

What kind of information will applicants 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
  • Employment details and evidence of supporting an applicants length of employment.
  • Financial position of an applicant including their income, the frequency at which they get paid, as well as their current debts, assets and liabilities

Remember to always compare all loan options before applying. There's a multitude of financing options available on the market, so it's important to consider them all before submitting an application.

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What are the risks of payday loans?

  • Unreputable lenders. Check the lender has a credit licence and is not charging you more than ASIC allows. The lender should be easily contactable.
  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here - lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

$1,000 loan eligibility

Eligibility criteria will differ between lenders, but generally lenders require the following criteria to be met in order to consider loan applications:

  • Age. Applicants need to be over the age of 18.
  • Residency. Applicants need to be an Australian citizen or permanent resident.
  • Income. Applicants need to be earning a regular income.
  • Centrelink. For applicants who receive Centrelink payments as their whole income or as part of their income, lenders have various criteria that needs to be met.
  • Bad credit. Those with bad credit are considered, but many lenders will not accept applicants who are currently bankrupt or under a Part 9 Debt Agreement. However, there are some lenders who might.

Before applying for a loan, applicants should always check that they meet the eligibility criteria to give themselves the best chance of being approved. Loan applications and rejections show up on your credit file, and too many applications and/or rejections are damaging to credit scores, so it is unwise to apply for loans unless you are sure that you will be approved.

What if I have bad credit – can I get a $1,000 loan with no credit checks?

While there are some lenders who claim not to check credit histories, it is a requirement that all responsible lenders take steps to confirm that the credit they are providing is suitable for the customer they are providing it to, and this usually requires a credit check. Any lenders who do not require credit checks will require some other form of evidence to suggest that you are financially able to repay the credit (this may include bank statements, income evidence, etc).

Many short term payday lenders will still consider applicants who have bad credit ratings, so it may not be necessary to approach a lender who doesn't check credit files. Check the eligibility criteria listed for both bad credit history and no credit check lenders and see which one best meets your needs.

How to compare your loan options

There are a number of factors that should be considered when comparing payday loans:

  • 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. Repayment dates are generally structured around when the borrower gets 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 an application. How easy are they to contact and how transparent are they with their fees and information?

Payday loans pros and cons

  • Loans can be funded more quickly than other forms of finance.
    These loans can be processed within a couple of hours and be in a nominated bank account in as little as an hour or one business day.
  • They have a set fee structure
    Borrowers won't pay more than a 20% establishment fee plus a 4% monthly fee with their loans due to ASIC fee caps. If the lender is charging more, they're breaking the law.
  • The documentation required is minimal
    Applications need less documentation than with other forms of finance. For instance, you can usually supply your Internet banking details for automated verification, rather than upload three months of bank statements.
  • They have high 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 dishonour fees and late payment fees also need to be taken into account, as these can significantly increase the cost of the loan overall.
  • There are some disreputable lenders
    There are lenders that may try to take advantage of people who need cash quickly. Always research a lender prior to submitting a loan application.
  • 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. Applicants should consider their financial position and the cost of convenience for quick, $1,000 finance, another loan may be more hindrance than help.

Frequently asked questions about $1,000 loans

Am I eligible for a loan?

The eligibility criteria differs depending on the lender. 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 customers to apply. This means not many lenders require applicants to fax any forms to them – 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 need to be repaid quickly. Most payday lenders schedule repayments so that the entire loan is repaid in 1 - 2 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 come from the borrower's nominated bank account. This is the same account into which they receive their 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 in interest and fees. For a loan under $2,000 that's repaid in 16 days to one year, applicants cannot 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 usually apply and can make the loan considerably more expensive in some cases.

I'm having trouble repaying my loan – what do I do?

If someone has trouble repaying their loan, it's important for them to get in contact with a lender as soon as possible – preferably before the loan repayment is due. If they do this they may be able to avoid direct debit dishonour fees and late payment fees, as many lenders might be able to reschedule payments.

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