LastMinuteLoan Short Term Loan

You can borrow up to $3,000 and repay the loan in 16 weeks to 52 weeks. Turnaround is 60 minutes but loan fees and charges are high.

LastMinuteLoan offers short-term or payday loans from $200 up to $3,000. Your loan term will depend on how much you borrow. For instance, if you borrow more than $2,005, your minimum term will be 32 weeks with a maximum of 52 weeks. Loan charges depend on the size of the loan. For small loans from $200 to $2,000, you’ll be charged an establishment fee of 20% plus a monthly fee of 4%. For medium loans between $2,005 and $3,000, there’s a $400 establishment fee and an interest rate of 48%.


Maximum loan amount

1 hour

Turnaround time

conditions apply

16 to 52 weeks

Term of loan

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Product NameLastMinuteLoan Short Term Loan
Minimum loan amount$200
Maximum loan amount$3,000
Arrears Fee$15
Loan term16 to 52 weeks
Turnaround time1 hour - conditions apply
Costs20% of loan amount + 4% of loan amount each month. Above $2,005, Establishment fee $400 + 48% APR
Available to Centrelink Borrowers?Yes

How does a LastMinuteLoan Short Term Loan work?

The loan terms vary depending on the size of the loan being borrowed. For loans between $200 and $2,000, applicants can apply for loan terms between 16 weeks and 50 weeks. For loans between $2,005 and $3,000, the loan terms vary between 39 weeks and 52 weeks. The fees charged also vary depending on the size of the loan and you can compare these charges in the review below. If they meet the eligibility requirements and are approved, customers can receive funds in their nominated bank account within 60 minutes of signing the contract.

LastMinuteLoan features

  • Loan amounts. Applicants can borrow a minimum of $200 and a maximum of $3,000 to cover any immediate expenses.
  • Loan terms. There is a minimum of 16 weeks and a maximum of 52 weeks that allows you plenty of time to pay off your outstanding amount. If you borrow more than $2,005, your minimum term is 39 weeks and has a maximum of 52 weeks.
  • Repayments. Borrowers will be charged a $15 fee if they miss a repayment.
  • Turnaround. Once the application is submitted, applicants can expect a response within five minutes. If approved, they may receive the funds within 60 minutes of signing the contract.
  • Fees. Customers will be charged an establishment fee and monthly fees, but the exact amounts will depend on the size of the loan. Fees will also apply if a borrower makes late repayments or defaults on a loan. Learn more about the relevant fees and charges in the section below.
  • No renewals or refinance. You can't roll over or refinance the loan, so it's important to ensure that you can repay it within the loan term to avoid being charged high fees.

Fees and charges

The fees and charges that apply will vary depending on the size of the loan you apply for:

  • Small loans. For loans between $200 or $2,000, LastMinuteLoan charges an establishment fee of 20% of the loan amount plus a monthly fee of 4% based on a maximum annual percentage rate (APR) of 98%.
  • Medium loans. Loans between $2,005 and $3,000 attract a $400 establishment fee plus fees based on a maximum APR of 48%.
  • Late repayments. Customers will be charged a $15 late fee for late repayments.

When you apply for a loan and before you sign for a contract, you'll be given an outline of the specific repayments and fees that you'll be required to pay. Take a close look at these and determine whether or not you can afford these costs before signing up. Regardless of the size of the loan, this is an expensive way to borrow money and the amount you owe will only get worse if you can't repay the loan on time.

How to apply for a LastMinuteLoan Short Term Loan

People can apply for a loan online if they meet the eligibility requirements and have the necessary information to complete the application.

Eligibility criteria

  • Earn an income and government benefits must not comprise account for more than 50% of your earnings.
  • Must have an employer that LastMinuteLoan can contact.
  • Show that you can pay off the loan through the income that you earn.
  • Be over the age of 18.

Details to provide

  • Personal details. This includes your full name, date of birth and contact details.
  • Income and employment. Confirm your employment status, how long you've been with your employer, your income and the frequency that you get paid.
  • Expenses. List your everyday living expenses (food, phone bill, electricity), rent or mortgage repayments and any other debt repayments including other loans or credit cards.
  • Loan amount. Confirm how much you'd like to borrow and the purpose of the loan.

You'll receive a response within 5 minutes and if approved, you can receive the funds in your account within 60 minutes.

⚠️ 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.

Financial hardship

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.

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    Default Gravatar
    November 16, 2018

    would like to have my payment terms extended. Need to borrow five hundred but the weekly payments need to be a little less could these be extended to sixteen weeks

      Avatarfinder Customer Care
      November 20, 2018

      Hi Matthew,

      Thank you for reaching out to finder.

      If you are on the application process for a loan with LastMinuteLoan, you may wait for the approval for the loan first and check the details of the contract. You may check with them if there is a way for this to be extended based on the terms that you want. If you already have a loan with them, you may contact their customer service support team to check on repayment options available for you. Hope this helps!


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