Credit24 Line of Credit

Last updated:  

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.

48% (variable)

Interest Rate (p.a.)

$500

Min Loan Amount

Details

Product NameCredit24 Line of Credit
Interest Rate (p.a.)48% (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There are no fees for drawing down on approved credit limits, and interest is only paid on the amount withdrawn.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 48% p.a.
  • Establishment fee: $0
  • Monthly Service Fee: $0
  • 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.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 7.5% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

Ask an expert

To ask a question simply log in via your email or Facebook or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site