Credit24 Personal Loans

Rates and Fees verified correct on April 30th, 2017

Credit24 offers loans up to $1,750 if you have good credit history. Funds in your account in 24 hours.

Credit24 is an online lender that offers you flexibility when you're in need of quick financing. You can apply online 24/7 and there are a range of loan amounts available, making it suitable if you need a small loan or something larger. When you apply you can have the loan in your account in one day. Credit24 has flexibility with its eligibility criteria as well – you're able to apply if you receive Centrelink payments, are self-employed or earn a lower income.

Product NameCredit24 Personal Loan up to $1750
Min Loan Amount$300
Max. Loan Amount$1,750
Initial Maximum Loan Amount$1,750
Loan Term3-12 months
Arrears Fee$28
Turnaround TimeSame day
Costs12% to 18% of loan amount establishment fee + 4% of loan amount monthly.
RequirementsYou must be be employed and have a good credit history, be 18+ and have an active bank account
Available to Centrelink borrowersNo


  • Low minimum income per month
  • 24/7 Online Application


  • Bad credit borrowers not accepted
  • Permanent resident
  • 18 years or over
  • Employed and get paid into your bank account
  • Have a good credit history
  • Earn at least $1,000 in a month
  • Must not have more than 1 ongoing small loan

How does the loan process work?

The first step is to find out if you're eligible, which you can do by checking below. Select the loan amount and terms you need and ensure the outlined repayments will be manageable on your budget. The next step is completing your application.

If your application is pre-approved you will be required to submit three months of banking history through Credit Sense, a secure online platform used by many online, short-term and payday lenders. Your loan will then be processed and if you are unconditionally approved, you should receive your loan on the same day.

Features offered by Credit24

There are various features to keep in mind when considering whether to apply for this loan. Some of these include:

  • Receive your money quickly. You can apply online 24/7 and after being unconditionally approved your money will be transferred within the hour. You will receive it on the same day.
  • Range of loan amounts available. You can borrow any amount between $300 and $1,750, making a Credit24 loan suitable for a range of purposes.
  • Transparent fee structure. Credit24 is extremely transparent with its fee structure. You can check the upfront and ongoing fees of various loan amounts before you apply.
  • Repayment terms. You'll have between 3-12 months to repay your loan. The loan term can extend considerably longer than other short-term lenders.
  • Account management and early repayment. Check how much you have owing on your loan and pay it out early by logging into your online account.
  • Automatic repayments. Repayments are made by direct debit so you won't need to remember to make them yourself. Just ensure there are sufficient funds in your account on the day your repayment is due.

The cost of the loan

Credit24 offers a detailed fee structure with its loans. Before you apply you will be able to select the amount you want to apply for and how long you need to repay it, and your repayments will be outlined for you. If these seem affordable you can continue with your application.

"I want to apply – am I eligible?"

Before submitting your application, it's important to make sure you meet the minimum eligibility criteria. For a Credit24 loan, you need to be able to say "yes" to each the following:

  • Employment. You are currently employed.
  • Age and residency. You are a permanent Australian resident or citizen and are aged 18 or over.
  • Income. You earn at least $1,000 per month into your bank account.
  • Credit history. You have good credit history.
  • Centrelink income. If you receive Centrelink, your payments do not make up more than 50% of your income
  • Current loans. You do not have more than one active short term loan.

You can only apply if you meet each of the above criteria.

How to apply for a loan

You can click "Go to Site" to get your application started. After you're securely transferred to Credit24's website you can select your loan amount and repayment terms. Your ongoing repayments will be outlined for you and if they seem affordable you can fill out your application. You'll need the following to complete this:

  • Your mobile phone number and email address
  • Driver's licence number, Medicare card number or passport
  • A copy of the last three months of your bank statements (this can be submitted electronically using your bank details through Credit Sense)

You'll only need to provide your bank statements after you have been conditionally approved for a loan.

Credit24 offers a flexible loan that you can consider if you're in need of quick cash. Remember to compare your options before you apply so you get the best loan for your needs.

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This page was last modified on 4 July 2016 at 10:45am.

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