
Easy loans with online approval
Loans with short applications, fewer required documents and more relaxed criteria can make them easy to apply for.
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Personal loans
What does an easy loan look like?
This would depend entirely on what you're looking for in an easy personal loan.
You could be looking for a loan that has an easy application, such as a low doc loan. Alternatively there are loans that are easier to get approved for, or are more accommodating to varied financial circumstances, like payday loans. We've outlined what to look out for and what you should avoid.
Which loans have an easy application process?
Some loan applications are easier to fill out than others. If you're looking for a loan that has a quick and easy application process, you might want to consider:
- Loans from online lenders. There is a new breed of lenders out there, some of which include neobanks and non-banks which operate exclusively online. Many of these lenders prioritise easy applications and have streamlined processes, making these loans comparatively easier to apply for.
- Low doc personal loans. These are personal loans that come with fewer documentation requirements. This makes it easier to apply for these loans, compared to traditional personal loans. However, these loans are considered more risky and are therefore more expensive than your average personal loan.
A good tip for making any application easier is preparing the documents beforehand. Each lender will have its own criteria, so make sure you check its requirements and keep everything handy.
6 tips to make the application process easier.
When you're applying for a personal loan, there are a number of steps you can take to increase your chances of approval. They include:
- Making sure you're eligible for the loan. This may sound obvious, but it's always a good idea to ensure you tick all the boxes. All loans have a minimum age (you have to be over the age of 18 to apply) and citizenship requirements (most loans need you to be an Australian citizen or permanent resident). Apart from that, there are income and employment requirements you'll have to meet. Your credit score will also be taken into consideration and you must not be or have been declared bankrupt. If you don't meet any of these criteria, it's unlikely you'll be approved for the loan. Keep in mind that every application you make will be listed on your credit report, which isn't necessarily a bad thing but can work against you if you apply for too many loans at a time.
- Applying for a loan within your means. Lenders are legally required to look into whether you can afford the loan. If you've applied for a large loan but your income doesn't support it, your application is likely to be rejected. You should take into consideration not merely what you owe, but also what you'll be charged on top of that. This includes interest rates and fees, which are included in the comparison rate. Using a personal loan calculator can help you estimate how much you can afford to borrow.
- Demonstrating good financial habits. This feeds into your credit score and signals to the lender that you're a responsible borrower. If you've been late on payments of $150 or more for over 60 days, your credit score will be impacted. You should also keep a good account history. Don't overdraw your account, make sure your direct debits are honoured, and most importantly, save. Having savings and saving regularly shows that you're able to manage money, and thus repayments. Your credit score is updated monthly, so anything you do now to improve your debt situation will help. You can check your credit score for free using the Finder app.

- Paying off outstanding debts, if you have many A lender will consider any other debts you currently have. You may also be required to declare all your debts. If you have too many ongoing credit accounts, they may find cause to reject your application. If your loan need isn't pressing, it may be worth taking the time to pay off some of the debts before applying for more finance. This will make it easier for your application to be approved when you do make one. It will also make another loan easier on your finances.
- Offering loan security Not all loans require loan security, but your chances improve if you tie up your loan with an asset. This can include a car or equity in your home. By offering security, you're reducing the lender's risk of lending. This can not only improve your chances, but can also reduce the cost of the loan, as lenders offer better terms if they see you as less risky. However, secured loans come with the risk of losing your asset if you fail to make your repayments, since lender's can repossess your asset to cover the cost of lending. You should account for this risk before applying.
- Being as thorough as possible Lenders will verify the information you've submitted. If they find inconsistencies, they may reject you. Provide as much information as requested and ensure you're providing the right details. You should also always be honest in your application. Be upfront about why you want the loan.
What's the eligibility criteria for an easy personal loan and how can I apply?
The criteria will differ from lender to lender. Before applying, you should always check if you meet it. To apply for a personal loan you must:
- Be above the age of 18
- Be able to provide proof of identity
- Have a good credit rating
- Be able to provide proof of income
- Provide information of assets, if required
To apply for a personal loan, you should:
👁 Compare lenders. Look at the fees, terms and eligibility criteria and find a loan that suits you.
🔍 Once you've settled on a lender from the table above, click "Go to site" to visit the lender's website.
✍ You can submit an online application. Keep all the documents required handy. This will speed up the process.
Frequently asked questions about easy loans
Still have questions? We've done our best to answer the most common questions people have when taking out an easy personal loan.
More guides on Finder
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Personal loan rejection: Reasons and how to avoid it
There are a number of reasons why your personal loan application may be rejected.
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Symple Loans personal loan
Symple Loans offers a peer-to-peer unsecured personal loan with personalised interest rates.
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South West Slopes Credit Union Greener Futures Loan
A no-fee loan to be used for the purchase of green initiatives such as home solar panels or double glazing.
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Transport Mutual Credit Union Unsecured Personal Loan
An unsecured loan with a variable rate of interest and zero account keeping fees.
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The Mutual Bank Secured Personal Loan
This loan is to be secured against residential property, rural lifestyle property or a term deposit. It has no early repayment or ongoing fees.
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Firefighters Mutual Bank Fixed Rate All Purpose Personal Loan
An unsecured, fixed rate loan with zero ongoing service fees for members of Firefighters Mutual Bank.
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Dnister Ukrainian Credit Co-operative Premier Personal Loan
A secured loan for Dnister Ukrainian CC members, with no monthly fees and a variable rate of interest.
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Service One Alliance Bank Unsecured Eco Personal Loan
The Eco Personal Loan from Service One Alliance Bank is designed to buy environmentally friendly purchases such as solar panels and batteries. It does not require security and has a variable rate.
Personal Loan Offers
Important Information*Ask an Expert
Is it alright if I borrow ..
Hi Emma,
Thanks for your enquiry.
Please note that lenders have different eligibility criteria for personal loans, but ultimately they will assess your ability to service the loan with your income sources.
If you’d like to apply for one of the above personal loans, simply click ‘go to site’ and you’ll be redirected to the application page where you can complete the process online.
Thanks,
Belinda