Credit24 Medium Term Loan (Good Credit)
- Fast cash for good credit
- Borrow up to $5,000
- Flexible repayments
100% confidential application
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 $5,000 over a maximum repayment period of 24 months. Entrepreneurs are also welcome to apply.
| Product Name | Credit24 Medium Term Loan (Good Credit) |
|---|---|
| Minimum Loan Amount | $2,100 |
| Maximum Loan Amount | $5,000 |
| Initial Maximium Loan Amount | $5,000 |
| Arrears Fee | $7 |
| Loan Term | 12-24 months |
| Cash Deposited In | Same day |
| Costs | $400 establishment fee + 48% p.a. interest |
| Requirements | You must have a good credit history, be employed, have a bank account and be 18+ |
| Available to Centrelink Borrowers? | No |
Pros
- Large borrowing amounts
- Loan terms up to 720 days
- Available to self-employed applicants
Cons
- $400 establishment fee
- Bad credit and Centrelink borrowers not accepted
- Be employed
- Earn $600/month
- 18 years of age
- Permanent resident
- Have a decent credit history
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 $5,000 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.
I’m on Centrelink currently can I apply for a loan after my first pay slip I’m about to be employed at a job when my internship finishes
Hi Indie,
Thanks for leaving a question on finder.
I’m afraid that Credit 24 cannot offer you a loan if your sole income is Centrelink or if you are unemployed on the time of your application. You may opt to apply for a loan with them as soon as you start work to get better chances of being approved.
With Credit 24, your Centrelink payments are classed as part of your income as long as it is not 50% or more of your total income and will be considered, along with other factors, during your application. As an example:
If your Centrelink payments are $1,000 per month and your salary is $700 per month you are not eligible for a Credit24 loan.
However, if your Centrelink payments are $500 per month and salary $1,000 per month – you are eligible to apply for a Credit24 loan.
Meantime, if you like to reconsider other lenders aside from Credit 24, you may like to get in touch with a lender listed on this page to discuss your eligibility/options.
Cheers,
Joel
How many days will I know?
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
I would like to now how much I got out from yous as a loan and what the balance is to date please
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