Money Lenders

Money lenders offer a wide variety of flexible financing options, which can provide funding for a variety of situations.

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Simply put, money lenders provide financing for people for a range of reasons. They provide a host of financing options, which include personal loans, business loans, credit cards, bank overdrafts, equipment financing and more. The right lender, along with the most appropriate loan type, always depends on your particular personal or business situation.

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.

⚠️ 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.

Money lenders comparison

Updated September 20th, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
$2,000
62 days to 9 months
1 hour - conditions apply
$15
10% of loan amount + 2% of loan amount each month
$348
Finder Exclusive: 50% discount on the establishment fee (now 10% of the loan amount) and monthly fee (now 2% of the loan amount)
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
$2,000
9-12 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
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
$2,000
Up to 2 years
3 hours - conditions apply
$10
47.8%
$316.70
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
$5,000
22 - 52 weeks
Same day - conditions apply
$35
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
$396
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
$2,000
6-12 months
Same day - conditions apply
$7
20% of loan amount establishment fee + 4% of loan amount monthly.
$396
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
$2,000
3-12 months
1 business day
$35
Establishment fee from 10% of loan amount + monthly fee from 2%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
$2,000
3 to 12 months
1 business day
$5
10% of loan amount + 2% of loan amount each month
$348
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.

Compare up to 4 providers

Updated September 20th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
From 8.99% (variable)
9.67%
$5,000
3 to 5 years
$0 ($199 establishment fee waived)
$10
You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.
12.45% (fixed)
13.32%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate of 12.45% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
8.99% (fixed)
9.13%
$5,000
2 to 5 years
$100
$0
You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.
From 7.81% (variable)
9.84%
$2,001
6 months to 5 years
$299 (from $299 based on $10,000)
$0
You'll receive a variable rate between 7.81% p.a. and 16.4% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$500 (Upfront fee)
$0
You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
from 3% of loan amount
$0
You'll receive a fixed rate between 7.5% p.a. and 17.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
From 8.95% (fixed)
10.56%
$5,000
18 months to 7 years
$495 (Based on $10,000)
$13
You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required.
12.99% (fixed)
14.14%
$4,000
1 to 7 years
$0 ($250 establishment fee waived)
$12
You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
9.89% (fixed)
10.14%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.89% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
From 10.69% (fixed)
11.58%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
From 5.99% (variable)
7.55%
$5,000
1 to 7 years
from 2% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.99% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$0 ($195 establishment fee waived)
$12
You'll receive a fixed rate between 12.99% p.a. and 18.9% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
From 13.99% (fixed)
15.19%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.
From 7.93% (fixed)
8.77%
$1,000
1 to 5 years
$500 (from $100 to $500)
$10
You'll receive a fixed rate between 7.93% p.a. and 18.87% p.a. based on your risk profile
An unsecured loan with a low minimum borrowing amount and flexible repayment options.
10.99% (fixed)
12.21%
$20,000
1 to 7 years
$250
$13
You'll receive a fixed rate of 10.99% p.a.
A secured or unsecured loan available to homeowners with a large minimum borrowing amount of $20,000. Benefit from flexible repayments and fast approval.
From 8.05% (fixed)
9.06%
$2,000
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 8.05% p.a. based on your risk profile
A personalised loan from $2,000 to $50,000 that varies based on your credit history and financial situation.
From 12.99% (variable)
16.42%
$3,000
1 to 7 years
$200
$10
You'll receive a variable rate of 12.99% p.a.
Apply for up to $50,000 and benefit from features such as fast approval, free online redraws and no penalties for early repayment.
15.99% (variable)
16.84%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate of 15.99% p.a.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
10.89% (variable)
11.15%
$30,000
1 to 7 years
$175
$0
You'll receive a discounted variable rate of 10.89% p.a.
Borrow over $30,000 and receive a discounted interest rate. No monthly fees and a redraw facility also available.
From 10.69% (variable)
11.58%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes. Benefit from fee-free additional repayments and a redraw facility. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
From 12.99% (variable)
14.06%
$2,000
1 to 7 years
$0 ($195 establishment fee waived)
$12
You'll receive a variable rate between 12.99% p.a. and 18.9% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 plus the convenience to make extra repayments and redraw them if you need them. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
From 7.88% (variable)
8.72%
$1,000
1 to 7 years
$500 (from $100 to $500)
$10
You'll receive a variable rate between 7.88% p.a. and 18.82% p.a. based on your risk profile
An unsecured loan with flexible repayment options and a low minimum borrowing amount.

Compare up to 4 providers

Updated September 20th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
5.49% (fixed)
5.84%
$2,000
1 to 7 years
$250
$0
Borrow as little as $2,000 at a competitive fixed rate
Finance a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.
5.69% (fixed)
5.97%
$25,000
1 to 7 years
$175
$0
Offset your interest with a Car Budget Account.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
6.99% (fixed)
8.1%
$5,000
1 to 7 years
$295
$10
Finance a range of vehicles including cars, motorbikes, boats and caravans.
Apply online to finance a new or used motor vehicle and receive a response in 90 seconds. You will receive a competitive tailored rate of between 6.99% p.a. to 9.99% p.a.
From 4.99% (fixed)
5.54%
$5,000
3 to 5 years
$400
$0
Optional balloon payment available to reduce your repayments.
A competitive rate car loan suitable for a new cor used car.
From 5.69% (fixed)
6.39%
$5,000
1 to 7 years
$499
$0
Benefit from 5-hour pre-approval.
A competitive rate car loan from RACV with no monthly fees.
8.49% (fixed)
9.67%
$10,000
1 to 7 years
$250
$12
Use a new or used car as security.
A flexible loan thats lets you benefit from a car search tool as well as the option to borrow extra for on-road costs.
From 8.49% (fixed)
9.6%
$3,000
1 to 5 years
$195
$12
You'll receive a fixed rate from 8.49% p.a. based on the value of your car
Get a competitive rate and apply for a larger loan up to $80,000 when you attach a new or used car as security to the loan.
From 5.71% (fixed)
6.57%
$1,000
1 to 7 years
$100 (from $100 to $500)
$10
You'll receive a fixed rate between 5.71% p.a. and 8.66% p.a. based on your personal credit history
A flexible loan to help you finance a car, motorbike or boat up to five years old.
From 7.99% (variable)
8.96%
$10,000
1 to 10 years
$200
$10
Your choice between secured or unsecured.
Apply for a loan up to $75,000 and benefit from loan terms up to 10 years.
6.45% (variable)
6.59%
$10,000
1 to 7 years
$100
$0
Apply for a loan up to $100,000.
Benefit from a flexible, variable rate to finance a car up to 3 years old with SCU.
6.69% (fixed)
7.04%
$2,000
1 to 5 years
$250
$0
Secure this loan with a car and use the funds for any purpose.
Competitive 6.89% p.a. rate available to all approved applicants. Loan amounts up to $60,000 available.
From 5.69% (fixed)
6.39%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.69% p. a.
Purchase a new car with this loan and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
From 6.99% (fixed)
7.7%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.99% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.

Compare up to 4 providers

How do money lenders work?

Money lenders work by offering money at a given interest rate. They disburse loans upfront or offer financing as needed (revolving credit) and charge an interest rate on the borrowed amount. This may be a fixed or variable interest rate depending on what you’ve applied for.

Money lenders also charge fees such as service fees, annual fees, transaction fees and other types of one-off and ongoing fees, which help them cover the cost of maintaining your account. They may also require security, such as home or business equity, to be provided as collateral for a loan, in order to approve applicants for certain types of financing.

What kinds of money lenders are there?

There are a host of Australian money lenders and they all generally fall into one of the following categories:

  • Short-term lenders. Such lenders include payday lenders and others offering short-term personal or business loans. Your loan will usually be disbursed quickly and your repayment schedule should be short. Short-term lenders require loans to be repaid over terms of 16 days to one year.
  • Bad credit lenders. These lenders specialise in lending to people or businesses with bad credit. Although there may be increased flexibility in terms of approving people with negative credit histories, the rates and fees are usually much higher in order to compensate for increased risk.
  • Branch lenders. These include more traditional lenders such as banks and deposit institutions, as well as non-bank lenders with bricks-and-mortar branches, where people can actually walk in and request a loan (as opposed to online lenders, for example).
  • Large-amount lenders. These types of lenders specialise in financing large personal loan amounts, anywhere from $5,000 to $10,000, for people and businesses. They include banks and deposit institutions, as well as credit unions, building societies and other non-bank lenders.
  • Equipment/vehicle lenders. This could be the actual company selling you the equipment, such as a car dealership, or it could be a third-party lender specialising in equipment financing.

How can you choose a money lender?

Keep in mind the following factors when comparing financing options between money lenders:

  • Reputation. Knowing your lender’s reputation is important as you want to make sure you choose a reliable source of funding. Therefore, details such as brand, business longevity and other elements of the lender’s reputation are important points-of-difference when choosing your lender.
  • Loan amount and efficiency. Not only should you make sure your lender offers the loan amount you require, but you should also make sure they provide it within the timeframe you need. It would be a huge waste of time applying for a loan only to find out your funds won’t be available when you need them.
  • Cost. Make sure you’re fully aware of your lender’s rate, as well as any one-off or ongoing fees. Also be aware of the difference between fixed and variable interest rates. You should use the loan’s comparison rate, which combines the lender’s interest rates with its fees, to better help you compare overall loan costs between lenders. Finally, see whether your lender requires any security, such as home or business equity, as loan collateral.
  • Loan term. Your loan term is the timeframe in which your loan is scheduled to be paid back. Depending on whether you’re applying for a short-term or long-term loan, this may be anywhere between three months (even shorter for payday loans) and several years. Your repayment schedule will be based on your loan term so make sure you’re able to meet your monthly repayments.
  • Service. Make sure you’re aware of any additional features your lender may offer such as online account management, customer support, ATM cards and additional sub-accounts for revolving credit.

Is there anything to consider before borrowing money?

Be aware of the following pitfalls before applying with any money lender:

  • Getting into too much debt. Always avoid getting into too much debt by being aware of a lender’s associated costs and making sure you’re able to afford them. Also, make sure you’re able to meet monthly repayments and never request loan amounts larger than what you actually need.
  • Shady money lenders and loan sharks. There are a great deal of shady lenders out there that offer what seem to be attractive rates or financing for bad credit applicants. Be very wary of any offer that seems too good to be true and be absolutely sure of your lender’s history and reputation before signing your name on the dotted line. Also, be wary of loan sharks who charge ridiculously high interest rates for desperate borrowers.

Frequently asked questions about money lenders

What’s the most important factor when choosing between money lenders?

There’s no single most important factor. Rather, you should consider overall factors such as your repayment ability, what your lender is offering and how it fits with your unique needs.

Will I be approved?

Your chances of approval depend on several factors determined by the lender you apply with. You usually need to be over the age of 18 and be an Australian citizen or permanent resident (although there may be loans available for temporary residents). Your credit history, income and personal assets are also important factors in determining eligibility.

How much financing can I apply for?

This depends on your personal and financial situation, as well as how much your lender approves. You can always find out the minimum and maximum loan amount offered by looking at our comparison tables. Keep in mind that you should never apply for funding that exceeds your repayment ability or what you actually need.

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