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Instant cash loans compared

Learn how these loans work, the fees that apply and the eligibility requirements that applicants must meet to receive approval.

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While some loans can take up to a week to arrive, there are some lenders that offer short term loans up to $2,000 with online approval and can deposit the funds within 30 minutes, an hour or within one business day. Applicants are still required to meet the eligibility requirements and these loans may charge higher fees than other options, so it's important to compare options before applying. Use this guide to compare instant cash loans, learn about the fees that apply and the factors to consider before submitting an application.

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here:

⚠️ Warning about Borrowing

payday-warningDo 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.


Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-12 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Income requirement: 50%+ of income cannot be from Centrelink
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Go to site More info

Compare some instant cash loans in Australia

Updated April 7th, 2020
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-12 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Ferratum Cash Loans
3 to 12 months
Same day - conditions apply
20% of borrowed amount + 4% of borrowed amount each month
Borrow what you need with loans starting from $500 and approval in minutes.
Fair Go Finance Small Loan
3-12 months
1 business day
Establishment fee from 20% of loan amount + monthly fee from 4%
A small loan between $500 and $2,000 that can be funded in 24 hours.
Speckle Small Loan
3 to 12 months
1 business day
10% of loan amount + 2% of loan amount each month
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.

Compare up to 4 providers

How to apply for an instant cash loan in 3 steps on Finder

  1. Compare options using the table above. Once you find the right lender, click "Go to Site", review the loan terms and submit the application.
  2. Wait for the lender's response, which should usually come through in 60 seconds.
  3. If approved, the applicant may receive the cash on the same or next business day.

What are the risks of instant cash loans?

  • Unreputable lenders. Check the lender has a credit licence and is not charging you more than ASIC allows. The lender should be easily contactable.
  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here - lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

How much cash can I borrow?

The size of the loan will depend on the lender as well as the applicant's income and credit history. Some lenders limit the amount that someone can borrow on the initial loan, so it is always important to check the criteria of each lender before applying. Most lenders offer loans of between $100 and $2,000, but others offer loan amounts extending to $5,000. It's important that people apply for only as much as they need and can afford to repay within the agreed loan term.

How to compare instant cash loans

Comparing loan options could help you save and find the right option for you. If you're weighing up your options, consider the following fees and factors before applying:

  • Loan amount. Maximum loan amounts are usually up to $2,000 but can be as high as $5,000. The amount that the applicant is approved for will depend on the requested amount, their income, credit history and ability to repay. People should only apply for a loan that they can repay within the agreed loan term.
  • Loan term. The term of the loan can be as short as 9 weeks or as long as 24 months in some cases. It's important to choose a loan term that gives enough time to repay the loan term in full. It's important to note that while a longer loan term will lower the periodical payments, it will increase the overall amount the customer pays in monthly fees.
  • Repayments. Customers are required to pay a set amount at regular intervals that line up with their pay (for example, weekly or fortnightly). Before applying, calculate how much you'd need to pay each time and that it aligns with your budget. Some lenders allow customers to repay the loan early, so you should check if this is an option with the loan that you're interested in.
  • Rates and fees. You'll be required to pay an establishment fee and monthly fee, both of which are a set percentage of the principal loan amount. The exact fees will vary between lenders but the establishment fee is capped at 20% and the monthly fee is capped at 4% for a loan up to $2,000. Arrears fees also apply if a customer misses a repayment.
  • Turnaround. While some lenders can issue the funds within 30 minutes or an hour, others may deposit the cash within one business day.
  • Lender. Before applying, it's important that people check that the lender is reputable. Check if the lender lists a credit licence on its website, that it is easy to contact and that it displays the rates, fees and conditions of the loan transparently.

The pros and cons of instant cash loans


  • Turnaround time. If approved, you can receive funds within 30 minutes or one business day.
  • Online application. People can apply for these loans online, complete the application within a few minutes and receive a response within 60 seconds.
  • Fixed fee schedule. Payday loans charge expensive fees, but the fees are fixed and regulated by the government.

  • High fees. As these loans are a higher risk for the lender, it means that the fees are higher than some other loans.
  • Disreputable lenders. While there are many legitimate lenders in the market, there are some disreputable ones too. It's important to compare your options and ensure the lender has a credit licence before applying.
  • Not a long-term solution. Cash loans aren't designed to be a long-term financial solution. If you're experiencing financial hardship, contact a free financial advisor before applying for a loan.

Alternatives to instant cash loans

  • Personal loans.Some banks provide same-day personal loans to existing customers.
  • Overdraft.Some banks allow customers to apply for an overdraft facility, which is linked to the existing transaction account.
  • Credit card cash advance.Credit cards can be used for cash withdrawals, but this is considered a cash advance. Cash advances immediately attract interest (which can be as high as 23% p.a.) and a cash advance fee.

Related Posts

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14 Responses

  1. Default Gravatar
    JanJuly 23, 2019

    I am a 78-year-old aged pensioner and would like to know if I can get a loan for $5000 through somewhere.

    • Avatarfinder Customer Care
      JoshuaJuly 23, 2019Staff

      Hi Jan,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      You might want to check this page, Jan.

      On that page, you will be able to find some lenders who might be able to find lenders who offer loans to pensioners. There’s a table on that page you can use to compare loans based on turnaround time, maximum loan amount, and cost, to name a few.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  2. Default Gravatar
    katNovember 2, 2018

    I need a loan but I have no asset procedure against me can you help

    • Avatarfinder Customer Care
      JoshuaNovember 18, 2018Staff

      Hi Kat,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I understand you want to get a loan. While it is true that you can increase your chance of getting approved for a loan if you have assets that you can use as a guarantee, you can still apply for a loan even if you don’t have assets. As long as you are able to prove to the lender that you can make the repayments, then you should be approved.

      On this page, use our table to compare your options. Click on the “Go to site” green button of your chosen lender. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products and check their eligibility requirements before making a decision and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  3. Default Gravatar
    TrevorMay 16, 2018

    Hi, I receive Austudy from centrelink and need to find a loan centre that will advance me today an amount to clear all my existing cash advances and overlook the fact that my bank account is a little overdrawn

    • Avatarfinder Customer Care
      NikkiMay 16, 2018Staff

      Hi Trevor,

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      Looks like you’re on the right page to get an instant cash loan. All you need to do is choose the provider of your choice, click the GO TO SITE and it will direct you to the website.

      Ensure that you meet all the eligibility requirements before you apply to increase your chances of approval.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


  4. Default Gravatar
    RazzelJuly 29, 2016

    Good day! I am looking for a lender who will let me borow the money without any transfer fees or hidden charges. Would you mind to help me? Thanks.

    • Avatarfinder Customer Care
      ElizabethAugust 1, 2016Staff

      Hi Razzel,

      You can compare your loan options using the table on this page. If you borrow less than $2,000 you will not be charged more than a 20% establishment fee and a 4% monthly fee (this is a requirement of ASIC that all short term lenders comply with). You can find out more about the lenders above and their loans by clicking on their names. Once you find a loan you are eligible for and want to apply for, click “Go to Site” to submit your application.

      I hope this helps,


  5. Default Gravatar
    tebogoJuly 22, 2016

    I want a loan quickly today but I don’t know if I apply and get approved…the money will be transferred or not

  6. Default Gravatar
    ShikeraMay 5, 2016

    I applied online for a Loan i just wanted to know if i been (APPROVED)

    • Avatarfinder Customer Care
      MattMay 5, 2016Staff

      Hi Shikera,

      You’ve left your comment on – and online comparison service and not an actual cash loan lender.

      To find out if your loan has been approved, you’ll need to contact the lender that you applied with.


  7. Default Gravatar
    BrittanyAugust 31, 2015

    Can I please get the loan today call me on 04XXXXXXXX

    • Avatarfinder Customer Care
      ElizabethAugust 31, 2015Staff

      Hi Brittany,

      You’ve come through to, as a financial comparison service we don’t actually offer the loans ourselves. To apply with any of these lenders please click ‘Go to Site’, many of them offer a quick turnaround time.

      I hope this has helped.



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