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Credit24 Line of Credit

Get fast flexible access to a line of credit from $500-$10,000 with no hidden fees.

Credit24 Australia is a lender owned by IPF Digital group, which operates other Credit24 companies worldwide and has over 200,000 customers. It is an 100% online only lender.

A Credit24 Line of Credit gives borrowers access to a flexible credit limit from $500 to $10,000. Successful applicants can draw down on as little (from $50) or as much of their credit limit as they wish to, and only pay for what they withdraw.

Find out more about Credit24's line of credit product below.

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From 24% (variable)

Interest Rate (p.a.)


Min Loan Amount

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Product NameCredit24 Line of Credit
Interest Rate (p.a.)
From 24% (variable)
Interest Rate TypeVariable
Min Loan Amount$500
Max. Loan Amount$10,000

How does a line of credit from Credit24 work?

Credit24 offer a small to medium amount personal line of credit product from $500 up to $10,000. Customers for Credit24's line of credit can apply online with no application fees and receive same day approval. Successful applicants who meet the eligibility criteria will be allocated a maximum credit limit based on their personal circumstances. Once a maximum credit limit has been established, applicants can set their own credit limit (up to the maximum) from which they can withdraw at any time.

There are no fees for drawing down on approved credit limits, and interest is only paid on the amount withdrawn. Drawdowns will be transferred to the borrower's bank account within the hour of request, subject to their bank. The maximum repayment term for this loan product is 3 years.

Unlike many lenders, Credit24 supplies loans to students, self-employed professionals and part-time employees.

Features of a Credit24 Line of Credit

The following features are associated with this loan product:

  • Loan amount. This line of credit is available from $500-$10,000.
  • Loan term. The maximum repayment term is 3 years.
  • Quick application. Applications are entirely online and only take 5-10 minutes to complete.
  • Quick approval. Credit24 offers same-day approval for applications submitted before 2pm on business days.
  • Variable rate. The rate on this loan is variable.
  • Flexible withdrawals. Borrowers can drawdown any amount from $50 up to their maximum credit limit.
  • Fast access to funds. Drawdowns will be transferred to approved applicants' bank accounts within an hour.
  • Repayments. Borrowers only repay what they borrow + interest.
  • No hidden fees. This loan comes with an interest-rate only - no fees.

How much does the loan cost?

This loan product has a straightforward cost structure:

  • Interest rate. This loan features a standard variable interest rate of 24% p.a. to 48% p.a.
  • Monthly Service Fee: 2 - 4%
  • Cash Advance: $0
  • Early Pay-Out Fee: $0
  • Additional repayment fee: $0
  • Late payment fee. There is a $10 fee payable if you miss a payment. This will be charged every 7 days that your payment is late until you make the repayment.

How to apply

If you're considering applying for a Credit24 line of credit, simply click "Go to site" to submit an online application form. You will need to provide your:

  • Mobile number
  • Email address
  • Driver's license, medicare or passport details
  • Bank account details for online banking

Eligibility criteria

Before submitting a loan application, please ensure that you meet the following eligibility criteria. Applicants for Credit24's line of credit must:

  • Be a citizen/permanent resident of Australia
  • Be aged 18 years or over
  • Have a reasonable credit history
  • Be employed and get paid directly into their bank account
  • Earn at least $600 a month

Remember that it is always a good idea to compare personal lines of credit prior to submitting an application. Comparing your options will help to ensure that you make the best possible decisions for your circumstances.

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