Cash Loans Online

Compare online cash loans that are fully accessible via a phone, tablet or computer today

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Online cash loans are loans which can be applied for fully online. This means that there is no need to access a branch or other location in order to acquire approval and receive the subsequent funds. This may be advantageous to people for reasons of preference, convenience, or factors such as physical disability. It also makes comparing loans more straightforward, as it gives customers the ability to look at a number of loans from various lenders at once.

Some lenders who refer to "cash loans" or "quick cash loans" as opposed to "personal loans" may be referring to "payday loans". Prospective borrowers ought to be aware that payday loans incur the most expensive fees that are permissible by the Australian Securities and Investment Commission (ASIC). While they may still be a viable option for some customers, there are other forms of online loan available that may work out as more cost effective options, depending on the credit rating and financial circumstances of the applicant.

Financial hardship


If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.

⚠️ 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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Lenders providing cash loans online

Updated October 20th, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
$2,000
62 days to 9 months
1 hour - conditions apply
$15
10% of loan amount + 2% of loan amount each month
$348
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A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
$2,000
9-12 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 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
$2,000
Up to 2 years
3 hours - conditions apply
$10
47.8%
$316.70
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
$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.
$2,000
3-12 months
1 business day
$35
Establishment fee from 10% of loan amount + monthly fee from 2%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
$2,000
up to 12 months
Within 48 hours
$33
20% establishment fee + 4% monthly fee
$396
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.
$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.

Compare up to 4 providers

So, is this a cash advance?

The term "cash advance" is generally reserved for money withdrawn on a credit card, not taken from a payday lender. However, some payday loan brands have taken to using this phrase when transferring money to the borrower.

It's important to understand the differences between the two. Cash advances instantly attract interest and generally don't have to be paid back within a specific timeframe. Cash loans are usually taken over a set period of time (usually until the next payday) and lenders charge fees on the principal in a form of an establishment fee (usually 20%) and monthly fees (usually 4%).

How does an online cash loan work?

The basic premise behind any online cash loan is that customers can apply for finance that they require via a fully online process. Prospective applicants begin by submitting an application (after ensuring that they meet the necessary eligibility criteria), which will include details about their income, identity and employment. The lender should be able to complete the identity verification process online, using details from the documents provided by the applicant.

Once the lender approves an application, the borrower should review the loan’s terms and conditions to make sure that the interest rate offered and loan terms are compatible with their current circumstances. After accepting these terms and conditions, the lender can transfer the approved funds into the approved applicant's bank account. The term of the loan can vary from 16 days to a year, and borrowers will have to make repayments in line with a preset repayment plan.

“I want to apply for a cash loan online. What options do I have?”

  • Payday loan. A payday loan is a short term loan, usually repayable between 16 days to 1 year, with lenders typically offering loans between $100 and $2,000. Borrowers will pay much higher fees than with other types of credit. This is capped at a 20% establishment fee and a 4% monthly fee, but still works out as expensive for the loan amount, and repayments are usually high because of the short loan term.
  • Bad credit personal loan. These loans can be for higher amounts, usually over $2,000, and are repaid in periods between 16 days and two years. You’ll usually find interest rates up to 48% p.a. for these loans.
  • Standard personal loan. Personal loans can be for any purpose and are usually available for amounts upwards of $5,000 and as high as $50,000. Standard personal loans usually require you to have a good credit record, and have repayment periods of between 1 and 7 years.
  • Personal overdraft. Some banks offer overdraft facilities to their customers accessible via their transaction accounts. With an overdraft, you can overdraw on your account up to a set limit. For those who have bad credit but have a good history with their financial institution, a bank may still approve them for overdrafts in some cases.
  • Line of credit. A line of credit functions in a similar way to a credit card, but customers can expect to pay lower interest and receive a higher credit limit. Some credit limit providers even offer debit cards for accessing funds, and once approved, credit limit funds are accessible to borrowers at any time. With most credit limit borrowers only have to repay the money that they draw down and the interest incurred on that expenditure.

How much can I borrow?

How much someone can borrow varies largely and will depend on the type of cash loan that they apply for.

Applicants for payday cash loans may be eligible to borrow up to $2,000 depending on their financial situation – although it's important for loan customers not to borrow outside of their means. Prospective applicants can use the calculator below to get an idea of what their repayments might be based on how much they want to borrow, prior to submitting an application. Some lenders may only allow applicants to borrow a certain amount their first time around in order to establish a line of credit and trust.

Features and benefits of cash loans online

Here's what you can expect when applying for a "quick cash loan'" or a fully online cash personal loan.

  • Multiple options. There are several Australian financial institutions that offer cash loans online featuring a variety of different loan types.
  • Flexible lending criteria. There are a number of lenders that offer flexible lending criteria, depending on the applicant's financial circumstances. Some online cash loan providers offer loans to applicants with poor credit histories. However, it is likely that these borrowers will be required to pay higher fees and rates.
  • Fully online process. Most lenders that provide online loans rely on technology to process applications. With some, applicants can expect to receive approved funds within a few hours of submitting your application, without having to visit a branch.
  • Funds direct debited into your account. When you apply for an online cash loan, the lender can transfer approved funds into a nominated bank account, the details of which you provide as part of the application process.

“What should I consider before applying?”

Prospective applicants ought to ensure that they are not taking on debt that they cannot afford to repay, as this will likely have a damaging affect on their financial health and their ability to borrow in the future. Prospective credit applicants should avoid applying for multiple credit products at the same time, as this can have a negative impact on credit ratings. Take notice the fees you will have to pay, and make sure you're comparing the total cost of any options you're considering.

Frequently asked questions about cash loans online

  • What eligibility criteria do I have to meet to apply?
    Generally you must be a permanent resident of Australia, you must be over 18 years of age, and you must have a steady source of income. Some lenders will also require you to have a good credit rating.
  • How long does a typical online application take to complete?
    You can complete some online cash loan applications in around 10 to 15 minutes if you have all the required information. Larger personal loan applications make take more time as they may require more information.
  • How quickly can I get access to approved funds?
    Some lenders can give you access to approved funds within an hour, some offer same-day access, while with others you may have to wait until the following business day.

Always compare loan options carefully and ensure that you meet all of the eligibility criteria outlined for that specific loan before submitting any loan application.

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