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$1,500 loans to apply for today

Find yourself needing to bridge a $1,500 gap? There are a few ways to get the money you need.

There are times when you may need to come up with money quickly, whether it’s to cover car repairs or a medical bill you weren’t expecting. Sometimes the amount is more than you can manage. If $1,500 is beyond your savings account balance and you need money to cover urgent expenses, there are lenders you can consider.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
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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
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What options do I have for a $1,500 loan?

The table below lists a range of short term lenders who you can apply for $1,500 with.

Rates last updated August 15th, 2018
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $1,500 Product Description
Sunshine Short Term Loans
$2,000
9-15 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
$396
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Note: Centrelink must not be your primary source of income.
Wallet Wizard Smart Loan (Up to 2K)
$2,000
Up to 2 years
3 hours - conditions apply
47.8%
$316.70
Apply for up to $2,000 as a convenient line of credit.
Nimble Short Term Loan
$2,000
62 days to 1 year
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
$396
Apply for up to $2,000 and have 62 days to 1 year to repay. Note: Centrelink must not be your primary source of income.
Credit24 Short Term Loan
$2,000
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
$396
A loan with a quick turnaround time and generous loan term. To be eligible, Centrelink must not be 50% or more of your income.

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How do I decide what to apply for?

There are a number of lenders offering $1,500 loans. Asking yourself the following can help you determine what to apply for:

  • What do you need the fast loan for?

The purpose of the loan may help you narrow down your search. If you’re looking to borrow money for a car, whether new or used, you can look for a secured loan. These are available for both good and bad credit borrowers. If you need the money to cover an emergency, like a bill that is due the next day, find a lender that can get the money to you when you need it.

  • Do you have bad credit?

Good and bad credit borrowers will have different options available to them. If you have good credit you can consider a traditional bank or credit union for a low limit credit card, overdraft or small personal loan. If you have bad credit, you are likely to be limited to bad credit loans.

  • What repayments can you afford?

The interest rate and fees you are paying will affect your repayments, as will the terms you select for your loan. For instance, a loan with shorter terms will see you pay back your loan sooner and save you interest, but your repayments will be a lot higher. Payday loans are for shorter terms – usually not longer than four months. After you work out your budget, you can use a personal loan calculator to see what your repayments will be.

  • Are you employed?

Lenders have eligibility criteria in regards to how you need to be employed and how much you have to earn. Keep in mind there are still loan options available if you are receiving Centrelink payments as income. Check the eligibility criteria of each lender before you apply. If you are in-between jobs, then you still may be eligible for a loan.

How much does a $1,500 loan cost?

Lenders are restricted as to how much they can charge you. If the lender is not an Authorised Deposit-taking Institution (ADI) (which means it isn't a bank, credit union or building society), it can only charge:

  • An establishment fee that is 20% of the principal loan amount
  • A monthly fee that is 4% of the principal loan amount

The actual amount you pay will depend on your loan term. For example, you will pay less for a $1,500 loan over three months than you will over four months because you will need to pay an additional monthly fee when you repay over four months. Be sure to consider the total cost when weighing up loan options.

Am I eligible for a fast loan?

The criteria differ between lenders, but you will usually need to:

  • Be over the age of 18
  • Receive some type of income into your account
  • Be able to show 90 days worth of banking history
  • Be an Australian resident

The $1,500 loan application checklist

Here's what you need to apply for a $1,500 loan:

  • Personal details.
    You’ll need your name, contact information and documents to show your identity – this can be your driver’s licence, passport or Medicare card.
  • Employment and income.
    If you’re employed you will need to provide your employer’s name and number and how much you earn.
  • Centrelink.
    If you receive Centrelink benefits you will need to advise what type of payment you receive, how often you receive it and how much.
  • Finances and banking.
    Short-term lenders will need 90 days of your banking history. This is usually transferred to them by you giving your Internet banking details.

Questions we’ve been asked about $1,500 loans

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