girl applying for bad credit loan on phone

Bad Credit Payday Loans

A bad credit payday loan could get you out of a sticky financial situation without the need to commit to long-term debt.

There are times we all run into some unexpected expenses, from car repairs to dental work and just about anything in between. When you need a little extra cash to get you through to your next payday, you have the convenient option of taking out a bad credit cash loan.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Centrelink borrowers considered
  • Fast approval service
  • Borrow up to $2,000
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100% confidential application

Sunshine Short Term Offer

This is a short term loan offer with a fast and easy online application for bad credit borrowers who are employed. You can apply today to get approved for up to $2,000.

  • Loan amount: $2,000
  • Loan term: 9 weeks
  • Turnaround time: 30 Minutes - conditions apply
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks - Must be employed
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A selection of bad credit payday loans

If you are stuck with bad credit, compare the loans below to see what offer you may be eligible for

Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
Sunshine Short Term Loans
$2,000
9 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
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
Apply for a short term loan and you could borrow up to $2,000
Ferratum Cash Loans
$1,900
Up to 6 mths
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
A small loan from Ferratum lets you borrow up to $1,900 without a credit check
Cash Train Loans
$2,000
10 weeks or 3 months
1 Business Day
20% of principal amount (establishment fee) + 4% monthly charge
Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application

Compare up to 4 providers

More bad credit payday loan comparisons

Sort through the table below to find out how much you might be able to borrow.

Loan NameLoan Features
Swoosh Finance LoanBorrow up to $5,000 with the short term loan from Swoosh.
Sunshine Short-Term LoanYou could borrow up to $2,000 without a credit check.
Nimble Short Term LoanApply online for up to $5,000 with the Nimble flixible loan.
Cash Train LoanCash Train offer a loan up to $2,000 for bad credit borrowers.
Ferratum Cash LoanGet a loan for up to $1,900 - without a credit check.
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.

Can I actually get a payday loan with bad credit?

Payday lenders operate with different lending criteria to other institutions, such as major banks. This is the primary reason they can offer loans to borrowers with bad marks on their credit file. Payday lenders will consider your employment situation, how much you earn, whether you are on Centrelink and the last 90 days of your bank statements when seeing if you're eligible for a loan.

If your credit is exceptionally bad, but you still have a genuine income, a no credit check payday loan may be something to consider.

Am I eligible for a loan?

The requirements to be eligible for a payday loan vary from each institution. You usually need to meet the following criteria:

  • Are an Australian citizen or permanent resident
  • Are over 18 years of age
  • Receive a regular income, either through employment or Centrelink benefits.

These criteria are only an example of common eligibility requirements. You should check that you meet the eligibility criteria set fby the lender before you apply.

What features come with bad credit payday loans?

There are a variety of features that come with short-term bad credit loans that you can consider:

  • Convenient online application. Lenders allow you to apply online and the application process only takes a few minutes. You should hear a response immediately.
  • Receive your money quickly. It's standard for payday lenders to offer a one-day turnaround if your loan is submitted by a cut-off time, usually 4pm. Then your funds will arrive the next business day.
  • Apply for as much as you need. These lenders offer various loan amounts, usually between $100 and $2,000. You can also find loans up to $10,000.
  • Know how much you need to pay with set fees. Payday lenders operate under strict ASIC guidelines, so you will be charged  set fees according to this.
  • Easy repayments. Lenders usually direct debit your repayment from your account automatically, so you don't have to worry about missing payments.
  • Repay the loan early. You're usually able to repay the loan early without penalty.

How to find the right payday lender for you

With so many payday loan lenders appearing online, it may be difficult to know where to look first. It’s important that you get the right loan for you, so finder.com.au has found some aspects of payday loans you should consider before making the final decision.

  • Research the lender thoroughly.
    Lenders will have the right to access your bank account details, so you need to be sure they are trustworthy and have a good reputation. Look at the website thoroughly and make sure it is easy to find their policies and loan terms. Some online lenders even have a “live chat” tool, where you can discuss your needs and ask any questions. It is also suggested that you read reviews and testimonials.
  • Find out what the fees and interest rates are.
    High fees and interest rates are the price you will pay in exchange for efficiency and fast access to funds. According to the Australian Securities and Investments Commission, lenders are only able to charge up to 24% of the principal loan amount per month as fees for loans under $2,000.
  • What is the turnaround time on getting your funds?
    How fast do you need the money? Do you need it within an hour, or do you have a day or two to spare? Most lenders will transfer the money directly into your account within anywhere from one hour to 24 hours (on business days).
  • Can you get loan extensions or redraws?
    Some loan companies can extend the term of your loan up to 90 days. Of course, there will be extra fees associated with this. Before you sign anything, always ask what happens if you are unable to pay back the loan on time. Make sure to ask about any hidden or extra fees you might incur within the time you have to pay the loan back. You should have a fairly good idea of how quickly you can pay off your loan, so try to avoid any extensions if you can.

Loan for car repairs

Car accident bad credit loanHarry was driving when he had a small car crash, colliding with a tree. The bonnet of his car was whomped out of shape and the engine also needed repairs. The total costs were close to $1,000, but he didn't have the money nor the credit history to access a loan. He needed the car repaired quickly and so looked at his short term loan options. Harry was employed full-time in government work and so was approved for a small loan to be repaid over his next two paydays. The loan was in his account on the same day and so he was quickly able to get the car repaired.

The good and the not so good of payday loans

  • Quick and easy application process.
    Being able to lodge your application online removes the hassle of paperwork and provides a convenient, simple solution to unexpected expenses.
  • Quick turnaround time.
    Many lenders will have the funds deposited into your bank account within 24 hours.
  • Fixed rates and charges.
    There are no interest rates on payday loans. You'll know exactly how much you have to pay back.
  • Bad credit history.
    Most lenders focus on your current financial status. This is ideal for anyone with a low credit rating.
  • Many brands to choose from.
    There are many reputable online lenders you can choose from. It’s important that you find the right company to suit you and your needs.
  • Higher fees.
    The fees are higher than for most other personal loans and may end up costing you more than you can afford.
  • Payday loans are not a long-term solution.
    If you are having financial difficulty, a payday loan may just be a “quick-fix” short-term solution – it is not going to help minimise your overall long-term debt.
  • Dishonest lenders.
    Unfortunately, there are fraudulent lenders operating online. It can also be hard to detect dodgy lenders since you cannot simply walk into their store. There is only one way to avoid taking out a loan with a dishonest lender– research. Make sure the lender you choose is well-known and reputable.

How can I apply for a payday loan without getting ripped off?

With so many lenders out there to choose from, applying for a payday loan can be tricky. Use the comparison table on this page to guide your decision-making process. Follow the links to the lenders’ websites for further information on what each lender can do for you.

Make sure you have assessed your own financial situation first to ensure you are certain that you can meet the repayments. The calculator below may help you work out repayments.

This calculator is designed to provide you with an estimate based on the numbers you enter. Your personal details are not taken into account and all calculations are based off the calculation model. This calculator is not intended to be the sole source of your information when making a decision regarding your loan, and this calculator also does not guarantee your eligibility. The calculator works off the following assumptions: fees do not change for the life, your lender will charge a 20% establishment fee and a monthly fee that is 4% of your principal loan amount. You may want to seek advice from a financial professional before signing up to a loan.

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28 Responses to Bad Credit Payday Loans

  1. Default Gravatar
    Drossos | February 8, 2017

    I have bad credit ,
    i have not been approved for loan of $600
    from lenders you have listed here.

    I am a disability support pensioner.

    Please help me find a loan .

    I am able to make the repayments .

    I just need a chance , please

    • Staff
      May | February 8, 2017

      Hi Drossos,

      Thank you for your inquiry.

      You can actually get in touch a lender on featured this page. Please note though that the approval will still be on a case by case basis, so be sure to read the requirements/criteria and discuss your chances of approval with a lender featured on that page.

      Hope this helps.

      Cheers,
      May

    • Default Gravatar
      Drossos | February 8, 2017

      Hi May , and thnk u for your reply .

      I tried all you suggested , and still no luck !!

    • Staff
      May | February 8, 2017

      Hi Drossos,

      I’m sorry to hear that. Maybe you can try getting in touch with a lender on this page. I hope they would accept your application.

      Cheers,
      May

  2. Default Gravatar
    Sandi | November 25, 2016

    I am on an aged pension, am I eligible to apply for a small loan.

    • Staff
      May | November 25, 2016

      Hi Sandi,

      Thanks for your question.

      Please feel free to check this page if you wish to compare your loan options for a small loan. Be sure to review the criteria and read our guide before your apply.

      Hope this has helped.

      Cheers,
      May

  3. Default Gravatar
    | November 1, 2016

    Ive started work full time n im in need of a payday loan of 500 untill 7th of this month when i can pay it in full do i have any luck of obtaining what i need atall

    • Staff
      Anndy | November 1, 2016

      Hi Jade,

      Thanks for your question.

      If you are looking to apply for a payday loan, the eligibility criteria to apply are listed on our review pages. Simply click the name of the loan product above so you’ll be redirected to its review page. To send an application, just click the ‘go to site’ button.

      Cheers,
      Anndy

  4. Default Gravatar
    Timmy | June 18, 2016

    Iam needing $1090,oo as my father has passed my credit aparently is shot an am currently in an out of wrk as per mining boom 〽

    • Staff
      Elizabeth | June 20, 2016

      Hi Timmy,

      You can find some loan options available to those who are unemployed on this page. Keep in mind you’ll need some sort of income to be approved (Centrelink income, etc.)

      Hope this helps,

      Elizabeth

  5. Default Gravatar
    youngbrown87 | February 26, 2016

    How can get some help

    • Default Gravatar
      Christine | May 26, 2016

      If I want to do a short term loan for three hundred dollars until I get pay mid June, what do I need to provide.
      I work full time as a coach operator.
      How long do it take to get approve if they don’t do a credit check

    • Staff
      Elizabeth | May 26, 2016

      Hi Christine,

      The application process varies between lenders but you generally need to provide your name, your employment information, some general financial information (income, debts, assets) and your Internet banking logins (this is to access a read-only copy of the last three months of your bank statements – you can find out how this works here).

      Approval time varies but usually takes between a few minutes to one hour, and you can usually receive your funds on the same or next business day depending on when you apply. You’ll receive an estimate of your repayment schedule before you apply but it will be in line with when you receive your pay.

      I hope this helps,

      Elizabeth

    • Staff
      Elizabeth | March 1, 2016

      Hi,

      You’ve come through to finder.com.au, an online financial comparison service. If you’d like to apply for a loan you can compare your options using the table above. Once you’ve find a loan you’d like to apply for you can click “Go to Site” to submit your application.

      I hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    Lynn | October 26, 2015

    I’m on a careers pension with bad credit can you help me find someone who will give me a loan

    • Staff
      Elizabeth | October 26, 2015

      Hi Lynn,

      Thanks for your question.

      You can compare a range of lenders that will consider Centrelink recipients for a personal loan on this page. You can click through to the review page by clicking on the name of any of the lenders, and when you’re ready to apply click ‘Go to Site’.

      I hope this will help.

      Thanks,

      Elizabeth

  7. Default Gravatar
    Rik | September 22, 2015

    I think i have bad credit is there any way you could help me please

    • Staff
      Elizabeth | September 22, 2015

      Hi Rik,

      If you have bad credit and would like to apply for a payday loan, you can compare your options on the page above. Once you’ve found a lender you want to apply with and that you’re eligible for, click ‘Go to Site’ to submit your application.

      I hope this has helped.

      Thanks,

      Elizabeth

  8. Default Gravatar
    Melanie | September 21, 2015

    How many days until Christmas?

    • Staff
      Matt | September 21, 2015

      Hi Melanie,

      Thanks for your comment. At the time of writing this reply to you there is 95 days until Christmas.

      Cheers
      Matt

  9. Default Gravatar
    lisa | August 24, 2015

    Can i loan $500 please

    • Staff
      Matt | August 24, 2015

      Hi Lisa,

      You’ve come through to finder.com.au – and online comparison service, not an actual lender.

      If you’d like to borrow cash, please carefully compare the lenders above, and then click “go to site” on the one you wish to apply for.

      Cheers
      Matt

  10. Default Gravatar
    kerry | May 28, 2015

    hi, i need a loan that paid today, i have bad credit and im on centerlink..my weekly income is $700 weekly..can u help

    • Staff
      Elizabeth | May 28, 2015

      Hi Kerry,

      Thanks for your question.

      Please note that finder.com.au is a financial comparison site and we don’t actually offer the loans ourselves. However, a few of the lenders available for comparison on this page will consider you for a loan if you receive Centrelink payments and if you have bad credit. The individual eligibility criteria are listed on the review pages for the loans, which you can see by clicking on the name of the loan or ‘more’. Once you’ve found a loan you’re eligible for, just click ‘Go to Site’ to submit an online application.

      I hope this has helped.

      Thanks,

      Elizabeth

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