Credit24 Medium Term Personal Loan

Apply for a Credit24 low doc personal loan and have the approved funds deposited in your account within 24 hours.

Credit24 is an online loan provider, meaning that application and approval processes are fully online and require minimal documentation. As long as you have a job and earn at least $600 per month, your application can be approved within 24 hours.

Repayment terms are flexible and tailored to your personal financial situation. You can borrow up to $6,500 over a maximum repayment period of 24 months. Entrepreneurs are also welcome to apply.

Min Loan Amount$2,100
Max. Loan Amount$6,500
Initial Maximum Loan Amount$6,500
Loan Term12-24 months
Loan SecurityUnsecured
Arrears Fee$7
Turnaround TimeSame day
Costs$400 establishment fee + 4% monthly interest
RequirementsYou must have a good credit history, be employed, have a bank account and be 18+
Available to Centrelink borrowersNo
Application Fee$400 on a 24 months loan of $2100

Pros

  • Low minimum income requirement
  • Large maximum loan amount
  • Long loan terms up to 24 months

Cons

  • Bad credit borrowers not accepted
  • Not available to Centrelink borrowers

How do Credit24 loans work?

You can submit an online application 24 hours a day, 7 days a week. The online loan simulator will give you an idea of your repayments as well as the associated fees. The establishment fee varies according to the amount you borrow. You will need to submit bank statements for the last three months, and if your application is complete, you can be approved immediately. It’s important to note that Credit24 will perform a credit check.

Features of a loan from Credit24

If you’re interested in applying for a Credit24 personal loan, here are some of its main features:

  • Fully online. From applying to receiving approval, the whole process is 100% online.
  • Fast turnaround. After you upload your bank statements, you can be approved within the hour. Funds are usually deposited within one business day of the application.
  • Loan amounts. You can borrow up to $6,500 over a maximum loan period of 2 years.
  • Tailored terms. Credit24 will offer flexible terms based on what you can afford. You can decide on a weekly, fortnightly or monthly repayment schedule.
  • Easy repayments. Payments are debited from the account in which you receive your salary. If you’d like to adjust your payment plan, you can request the change without penalty fees.
  • Self-employed applicants welcome. If you’re self-employed, you can apply for a Credit24 personal loan with the latest tax notice of assessment as proof of income.
  • Tailored fees. The establishment fee varies based on the amount you borrow and the selected loan period.
  • Easy repeat borrowing. As soon as you’ve repaid your existing loan, you can apply for another loan immediately. You can only have one active loan at a time.
  • Early repayment. If you want to repay your loan before the end of the loan term, you can do so at no extra charge.

How much will the loan cost?

Below are some of the fees you’ll be paying once you receive your funds.

  • Establishment fee. $400
  • Interest. 4% Monthly Interest
  • Dishonour fee. A fee of $7 will be charged for every failed debit.
  • Enforcement fees. If your payment is more than 30 days late and your account is sent to collectors, you will be charged a fee ranging from 20-50% of the outstanding amount.

Are you eligible for a Credit24 loan?

You will have to meet the following eligibility requirements before applying for a Credit24 personal loan:

  • You must have a job.
  • You must earn at least $600 a month.
  • You must be at least 18 years old.
  • You must be a permanent resident.
  • You must have a decent credit history.
  • You must provide a tax notice of assessment as proof of income if you’re self-employed.

Ready to apply? Here’s how

Click “Go to site” when you’re ready to get your application started. Fill in the online form and follow the instructions to upload your bank statements. You also have the option to send in your bank statements by post, but this results in a longer waiting period for approval.

Once all your documents have been received, Credit24 will conduct a credit check and respond to your application. If approved, you can receive money on the same day or within 24 hours.

Was this content helpful to you? No  Yes

Ask an Expert

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, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

4 Responses

  1. Default Gravatar
    pholoholoAugust 19, 2017

    How many days will I know?

    • Staff
      LiezlAugust 19, 2017Staff

      Hi Pholoholo,

      Thanks for your question.

      If you’re referring to how soon you’ll know whether your application has been approved, once Credit24 has all of your information, it is possible for your loan to be processed within an hour and paid to your account the same day. However, if submit your loan application outside business hours, your loan application will be processed from 8am – 8pm weekdays, and 9am – 5pm on weekends (AEST).

      I hope this has answered your question.

      Cheers,
      Liezl

  2. Default Gravatar
    AlanAugust 14, 2017

    I would like to now how much I got out from yous as a loan and what the balance is to date please

    • Staff
      MariaAugust 14, 2017Staff

      Hi Alan,

      Please note that finder is a financial comparison website offering general advice and we do not represent any of the companies that we feature on our pages.

      It would be best to contact Credit24 directly regarding your loan details.

      Cheers!
      Maria

Ask a question