Needy Money Medium Loan

Borrow up to $5,000 with repayment terms up to 2 years to pay it back. Ongoing and interest rates charges apply.

  • Needy Money have rebranded to nmoni. nmoni no longer offer short term loans. The information on this page has been kept for the benefit of those who are interested and historical records only.

Needy Money is a Victoria-based personal and commercial loan provider. You can borrow between $2,001 and $5,000 and choose loan terms of 1 to 2 years. Once you apply, Needy Money will outline all the fees and charges associated with your loan. Lender’s cannot charge more than the ASIC cap on medium-term loans. For loans from $2,001 up to $5,000, there is generally an establishment fee of $400, with the maximum interest rate of 48% p.a. Payday loans are not a long-term financial solution and can lead to more debt. As this loan can be expensive, you should only borrow in case of an emergency.


Maximum loan amount

1 hour

Turnaround time

conditions apply*

1 to 2 year(s)

Term of loan

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Product NameNeedy Money Medium Loan
Minimum loan amount$2,001
Maximum loan amount$5,000
Loan term1 to 2 year(s)
Turnaround time1 hour - conditions apply*
CostsBased on your credit history, employment and residential stability.
Available to Centrelink Borrowers?No

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.

⚠️ 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.

How a Medium Loan from Needy Money works

Prospective applicants can submit an online application for a Needy Money medium loan through the Needy Money website. After Needy Money receives a person's application, along with the required supporting documents, they will sends out a confirmation email. Applicants can expect a Needy Money representative to process their application in around 60 minutes, as long as they apply during business hours. Once the processing is complete, they will receive a call informing them of the outcome of the application.

Next, successful applicants receive their loan contract outlining the terms of the loan via email - this requires acceptance from the borrower's end before the funds can be transferred. After someone accepts the contract’s terms and conditions, they get to select how they receive their funds; options include over the counter, by cheque or through electronic transfer. Soon after this the borrower will start making their repayments in line with the terms of their repayment schedule.

The features on offer

There are a number of features associated with the Needy Money Medium Loan, which include the following:

  • Flexible loan amount. Depending on the borrower's needs, they can apply for any amount between $2,001 and $5,000.
  • Flexible loan terms. With a Needy Money Medium Loan, customers have the option of choosing loan terms of between 1 to 2 year(s).
  • Fund transfer options. When it comes to accessing funds after the approval of a loan, loan customers can choose between receiving it over the counter, via cheque, or via electronic transfer.
  • Repayment flexibility. Customers can set up repayments in accordance to their pay schedule, which essentially means that they can make payments every week, fortnight or month.
  • Quick processing. If submitting a loan application during business hours, successful applicants can expect a a response within one hour.

Fees and charges

Needy Money gives you a clear indication of all associated fees and charges through your Medium Loan contract, and you get to review these before you accept the contract.

Going through all the fees and charges associated with the loan at the very onset is a good idea, as this gives you an indication of just what to expect. In case you think that the associated fees and charges are high, you don’t have to accept the contract.

How to apply for a Medium Loan from Needy Money

Eligibility criteria

In order to apply for a Needy Money Medium Loan, loan applicants have to do so online. Before applying, prospective applicants should establish whether or not they meet the following eligibility criteria. Applicants must:

  • Be a permanent Australian resident
  • Be at least 18 years old
  • Have a primary source of income that is not from Centrelink
  • Have not entered into bankruptcy or a Part 9 Debt Agreement in the past 12 months

Required documents

To successfully complete the application, loan applicants have to provide different types of information about themselves, such as:

  • Personal information such as their complete name, date of birth, marital status, number of dependants, and contact details
  • Banking details like account name, BSB, account number, and length of time the account’s been operational
  • Income details including amount and source
  • Details of their expenses, which include repayments towards all existing debts

While Medium Loans provided by Needy Money give customers potentially quick access to funds, there are a number of lending institutions providing similar products on the market and it is always a good idea to compare options prior to submitting an application.

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    Default Gravatar
    November 3, 2019

    Hello! Currently, I am on part 9 debt agreement and I am looking for a loan to get Home appliances and to pay rental bond as my family is coming to Australia by the end of this year. Please suggest me for loan possibility. I am a full-time employee.

      Default Gravatar
      November 4, 2019

      Hi Chandrakiran,

      Thanks for your comment and I hope you are doing well.

      Some lenders consider applicants that are currently bankrupt or are discharged from their bankruptcy. The lenders that are available are more limited and the fees and rates will also be considerably higher on bankrupt loans. You may also be required to attach an asset as security or apply with a guarantor. You can find options for loans for bankrupts using our comparison table. It should help you compare each loan provider.

      Lenders like Cash Converters and Swoosh Finance consider applicants under Part IX Debt Agreement. As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      Hope this helps and feel free to reach out to us again for further assistance.


    Default Gravatar
    June 12, 2019

    Hi there I want a loan for $5000 as I need it to pay some bills or my husband will be out of work can you help me out ols

      Default Gravatar
      June 13, 2019

      Hi there,

      Thanks for getting in touch!

      I understand you are in a tough situation. To apply for a loan with Needy Money Medium loans, please review the part of the page above that says “How to apply for a Medium Loan from Needy Mone.”

      As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

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


    Default Gravatar
    May 17, 2019

    Hi, I have just recently been given a class A disability pension from ComSuper. Before this I have been getting incapacity payments from DVA since 2004.. My class A pension is $38k and I also get a top up from DVA of about $12k.

    I just have bad credit history…can you help me, I want to borrow $5k and I can repay back at $250 per week.

      Default Gravatar
      May 18, 2019

      Hi Hammer,

      Thanks for your inquiry.

      I’m sorry to hear that you have a bad credit history. Looking on the bright side, it’s good to know that you’ve been given a Class A disability pension from ComSuper. With Needy Money Medium Loans, the eligibility requirements include that your primary source of income is not from Centrelink. While it doesn’t say on our page if you can apply for this lender if you are on pension, it would be best to contact them to obtain more information on their list of eligibility requirements.

      While your loan options are slimmer when on pension and holding a bad credit history, there are loan options for you and you can refer to our list of pensioner loan providers. Take note that stricter rules and interest rates are higher than normal. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

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


    Default Gravatar
    May 6, 2019

    I have 7 weeks payslips and Centrelink benefits am I eligible?

      Avatarfinder Customer Care
      May 7, 2019

      Hi Kayne,

      Thank you for reaching out.

      It shows that you may be eligible to apply for Needy Money Medium Loan if Centrelink is not your primary source of income. The list of other requirements are listed above under How to apply for a Medium Loan from Needy Money. Once you have checked their terms and conditions, check if they are the right lender for your needs and you can visit their website to apply.

      Hope this helps! 😊

      Kind Regards,

    Default Gravatar
    March 19, 2019

    Thank you, Joshua, for your reply. I started being self-employed last year in November 2018. I will check their website so I can proceed for an application.

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