Enably is no longer in operation. If you're looking for a short-term loan, you can compare your options here.
enably Short Term Loan
Get approval within an hour for flexible short-term loans of up to $20,000.
This online loan provider offers quick, short-term cash solutions to employed Australians earning at least $1,500 per month. When you submit an application, enably will verify your financial profile to approve you for a loan you can afford.
Loans can be used for any purpose and you can choose your own repayment terms.
Maximum loan amount
Within an hour
Up to 36 months
Term of loan
|Product Name||enably Personal Loan|
|Minimum Loan Amount||$2,001|
|Maximum Loan Amount||$20,000|
|Loan Term||Up to 36 months|
|Turnaround time||Within an hour|
|Costs||0 - 20% application fee and 2.8 - 4 % monthly fee on loan amount|
|Available to Centrelink Borrowers?||No|
How do enably short-term loans work?
enably offers loans of between $2,001 and $20,000 to be repaid over a maximum period of 3 years. The amount for which you are approved is based on your credit score and financial situation. Before submitting an application, you can use the online calculator to work out the cost of the loan.
The application process is quick and completely online, and loans can be approved within an hour (during business hours). Loans are repaid by direct debit over a minimum term of 61 days in weekly, fortnightly or monthly installments.
While you can apply for a loan online at any time, you must finish repaying one loan before applying for another one.
Features of a loan from enably
If you need a quick cash solution, here are some of the features to consider with a short-term loan from enably:
- Fast approval. You can have your loan application approved within an hour of submitting it. The application itself takes a few minutes to complete online.
- Various loan amounts available. You can apply for a loan of between $2,001 and $20,000, depending on what you need.
- Flexibility. You're able to choose your own repayment schedule, with longer terms available for larger loan amounts.
- Repayment. Repay the loan weekly, monthly or fortnightly. The fees attached are based on the loan amount and the loan period. If you need to change your repayment date, a fee of $10 applies.
- Fees on reducing balance. You only pay fees on the outstanding principal. The more you pay off, the less you’ll be charged in fees.
- Easy repeat borrowing. As long as you repay your first loan in full, you can apply for another loan online at any time.
How much does the loan cost?
An establishment fee is charged as a percentage of the principal, which ranges from 0-20% depending on the loan amount and the loan term. You pay fees that are charged on a reducing balance, meaning the fees decrease as you pay off the loan and reduce the principal amount. Monthly fees are 2.8 - 4% of the loan amount.
Other fees include:
- $1.10 for each direct debit payment
- $20 fee for dishonoured or failed payments
- $10 for rescheduling a payment
Are you eligible for an enably Short Term Loan?
Applying for a loan from enably is quick and you can apply online. You’ll need to meet the following eligibility criteria:
- Be employed
- Be at least 18 years old
- Earn over $1,500 per month
If your loan isn’t approved but your circumstances have changed, you can submit another application 14 days after your loan application was declined.
How you can apply
The application process is fully online. On the application form, you’ll be asked to specify the purpose of the loan and the amount, as well as provide some personal and employment details.
enably will access your most recent banking data through Yodlee, a third-party platform that provides read-only access to your account. If you’re a new customer, enably will perform a credit check.
The process takes a few minutes and you can get approved within an hour. Depending on when you apply, you can have funds deposited into your account on the same day.
⚠️ Warning about Borrowing
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.