Man applying for a cash loan online

Cash Loans Online

Find a lender, submit your application and receive your loan using only your phone, tablet or computer.

Applying for a cash loan online brings several advantages. You don’t need to visit a physical branch or location which will save you time, and having access to all the information online lets you compare your options thoroughly and apply for the lender that best meets your needs. As well, online lenders offer a quick turnaround time. If you’re interested in applying for a cash loan and want to reap the benefits of doing so online, find out all about it below.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
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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: 9-12 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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Lenders providing cash loans online

Updated August 23rd, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Costs Fortnightly Repayment (for $1500 Loan)
62 days to 9 months
1 hour - conditions apply
10% of loan amount + 2% of loan amount each month
Finder Exclusive: 50% discount on the establishment fee (now 10%) and monthly fee (now 2%)
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
9-12 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
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
Up to 2 years
3 hours - conditions apply
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
3-12 months
1 business day
Establishment fee from 10% of loan amount + monthly fee from 2%
A small loan between $500 and $2,000 that can be funded in 24 hours.
up to 12 months
Within 48 hours
20% establishment fee + 4% monthly fee
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.

Compare up to 4 providers

How does an online cash loan work?

The basic premise behind any online cash loan is that you start by submitting an application, which will include details about your income, identity and employment. The lender should be able to complete the identity verification process online, using details from documents that you provide.

Once the lender approves your application, you can review the loan’s terms and conditions, After you accept these the lender can transfer the approved funds into your bank account. The term of the loan can vary from 16 days to a year, and you 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, with lenders typically offering loans between $100 and $2,000. You’ll pay higher fees than with other types of credit, but this is capped at a 20% establishment fee and a 4% monthly fee.
  • 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.
  • Personal overdraft. You can ask your bank with if it can provide you with an overdraft facility linked to your transaction account. With an overdraft, you can overdraw on your account up to a set limit. If you have bad credit but have a good history with your financial institution, your bank may still approve you.
  • Line of credit. A line of credit functions in a similar way to a credit card, but you can expect to pay lower interest and receive a higher credit limit. You can access funds up to this credit limit at any time. You only have to repay the money you spend.

Features and benefits of cash loans online

Here’s what you can expect when applying for a cash loan.

  • Choose from multiple options. There are several Australian financial institutions that offer cash loans online, and you also get to choose from a variety of different loan types.
  • Flexible lending criteria. When you’re looking for an online cash loan, finding lenders that don’t have strict lending criteria isn’t difficult. You can expect to get an online cash loan even if you have poor credit history.
  • Quick turnaround time. Most lenders that provide online loans rely on technology to process applications. With some, you can expect to receive approved funds within a few hours of submitting your application.
  • Funds direct debited into your account. When you apply for an online cash loan, the lender can transfer approved funds into your nominated bank account, details of which you have to provide as part of the application process.

“What should I consider before applying?”

Make sure you don’t end up taking on debt that you find hard to repay, as this will affect your ability to borrow in the future. Avoid applying for multiple credit products at the same time, as this can have a negative impact on your credit rating. 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.

How long does a typical online application take to complete?

You can complete an online cash loan application in around 10 to 15 minutes if you have all the required 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.

Getting an online cash loan can give you quick and easy access to money. Given the number of options available, don’t forget to compare a few before applying.

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