Do you need cash in your account today? Here is how to get money when you need it.
We’re not always prepared when the unexpected happens, whether it's car repairs, forgotten bills or unplanned medical expenses. Luckily, there are lenders that can get you fast cash when you need it, sometimes in as little in one hour or on the same business day. Find out what you need to know before you apply.
- Bad credit applicants considered
- Fast approval service
- Borrow up to $2,000
100% confidential application
Sunshine Short Term Offer
A short term loan with a fast and easy application available to those with good or bad credit. You can apply today and get approved for up to $2,000.
- Loan amount: $2,000
- Loan term: 9-15 weeks
- Turnaround time: 30 minutes (conditions apply)
- Fees: 20% of borrowed amount + 4% of borrowed amount each month
- Income requirement: 50%+ of income cannot be from Centrelink
- Bad credit borrowers OK
- Quick and easy Approval
- No Credit Checks
Compare fast cash loans
What are your options for a fast cash loan?
Finding finance doesn’t have to be difficult. There is a range of different options for you to choose from:
- Short term loans. This is one of the most common options for fast cash – it’s a short term loan that’s designed to be repaid when you receive your pay. The maximum term is usually 16 days up to six months, depending on how much you borrow, which is normally between $100 and $2,000.
- Credit card cash advance. If you have a credit card you can consider using it at an ATM. However, you should keep in mind that most credit card cash advance fees are over 21% p.a., making it a costly option to consider.
- Personal overdraft. If you have a transaction account and a good history with your bank, you can have an overdraft set up to access up to a certain limit. Overdrafts usually start from $100 and you can usually get access to the funds on the same day.
- Same day personal loan. Some banks offer same-day personal loans to existing customers and let you borrow in excess of $5,000.
How fast will I get my cash?
This differs between lenders. To give you an idea of when you should apply to get your money as quickly as possible, here are a few guidelines from lenders:
- Nimble: If your loan is approved and you have confirmed it by 4:30pm AEST, Nimble will send your funds within 60 minutes. Outside of this time you will receive it this next business day. Clearance time is subject to your bank.
- Sunshine Loans: If you sign your contract before 4:30pm Queensland time on business days, your money should be available by 7pm Queensland time. Keep in mind it will depend on how long it takes your bank to process the transaction.
- Wallet Wizard: If you accept your Wallet Wizard contract by 2:30pm Sydney time, you should receive your funds today. Wallet Wizard recommends waiting two hours before calling them to check on your funds.
- Ferratum: Ferratum says that payment times depend on bank processing times, but that if your loan is sent before 4pm on a business day you should receive it that day. Ferratum will send you a text message to confirm it has sent your funds to you.
- Swoosh Finance: If you return your signed Swoosh Finance contract by 3:30pm AEST, your funds will be transferred to your nominated account overnight.
How much do fast cash loans cost?
Loans that are offered by non-traditional lenders, which excludes banks, building societies, credit unions and other Authorised Deposit-taking Institutions (ADIs) are restricted as to how much they can charge you in fees and interest. Here is a breakdown of the maximum lenders are able to charge you:
|Small amount loan||N/A|
|Medium amount loan||Maximum 48% p.a. that does not include the establishment fee|
|Large loan||N/A||Maximum rate of 48% p.a. that includes all fees and charges|
Are you eligible for a short term loan?
- Age. You will need to be over the age of 18 to apply.
- Residency. You’ll generally need to be a permanent Australian resident or citizen.
- Employment and income. You do not necessarily need to be employed to be eligible for a loan but you usually need to earn a regular income.
- Centrelink. You can be eligible for a loan if you receive Centrelink payments, but there may be restrictions as to what percentage the amount you borrow can take up of your Centrelink income. For example, you can apply with Ferratum, but more than 50% of your total income or 20% of your repayments can't come from Centrelink.
- Credit history. Lenders offering short-term loans will generally consider you for a loan even if you have bad credit. However, if you are concerned about your credit history you can consider a lender that doesn't conduct credit checks.
How do you get a fast cash loan?
There are a range of fast cash options for you to choose from and apply for and many of them offer same-day turnaround. Here’s what to do to get the money you need:
- Find a loan you’re eligible for. They key to being approved for a fast cash loan is applying for one that you meet the minimum eligibility criteria for. Check you meet the minimum age, income, employment and residency requirements set by the lender before clicking ‘Go to Site’.
- See what you need to apply. Once you know you can apply, the next step is finding out how. You’ll usually need to send through personal, financial and employment details as well as documents to prove those details are correct. You may need to hand over your Internet banking details or 90 days’ worth of your banking history.
- Submit your online application. Most lenders’ application process, including the submission of documents, is entirely online. You may be able to submit some documents manually, but this may result in a longer review process.
- Wait 60 seconds for approval. Most lenders will be able to tell you if you’ve been approved or not within a minute or two. If you are approved, you can agree to your loan contract digitally or by SMS.
- Receive your loan and budget your repayments. If you accept your fast cash loan contract before the lender’s cut-off time, which is usually around 2pm on a business day, you can receive your loan amount on the same day. Now you need to make sure you budget your repayments and repay your loan in full and on time.
What features come with these loans?
Applying for a fast cash loan brings with it not only a fast turnaround, but a few other features that you can benefit from:
- Convenient application. Apply conveniently online in just a few minutes and receive a response almost immediately. The majority of lenders won’t require you to fax any documents.
- Direct debit repayments. If you’re worried about remembering to make your repayments, look for a lender that automatically direct debits your repayments from your bank account on the agreed upon dates.
- Prepaid debit cards. Some lenders offer additional features with their fast cash loans, such as prepaid debit cards. You can load these cards with your own funds and also receive instant loans onto them.
- Loan amount and terms. You can usually borrow up to $2,000, and even up to $5,000 or $10,000 with some lenders. Loan terms are generally based on the frequency at which you get paid and can be from 16 days up to a few months.
How you can apply for a fast cash loan
Before clicking ‘Go to Site’ for the lender you want to apply with, make sure you meet their eligibility criteria. You can find this on the review page. The loan application requirements will depend on the lender you apply with, but generally you will need:
- Personal details. Your name, contact information and proof of your identity.
- Financials. Your income, debts, assets and 90 days’ worth of your bank statements. Your Internet banking details may be required.
- Employment. The name and contact details of your employer as well as the details of your employment.
- Centrelink benefits. If you receive Centrelink benefits, you will need to list the type of payment you receive, how much you receive and how often.
- Loan details. How much you are looking to borrow and for what purpose.
How quickly do you need your loan? There are fast cash loan options on this page that you can compare and apply for. Make sure you check the eligibility criteria before submitting your application and only apply for the amount you need.