Needy Money Medium Loan Review

Borrow up to $5,000 and have up to 2 year(s) to pay it back

Needy Money is a Victoria-based personal and commercial loan provider, and you can approach this financial institution for a Medium Loan to borrow between $2,001 and $5,000. You can choose loan terms of 1 to 2 year(s), and this loan also offers repayment flexibility, allowing you to make repayments.

Once you repay your loan completely you can get another loan through Needy Money, only this time the process is even quicker because you apply as a premium client. If you're approved, you can access your funds in as little as one hour, and you can use proceeds from this loan for just about any legitimate purpose.

How a Medium Loan from Needy Money works

The first step is to submit an online application using the Needy Money website. After Needy Money receives your application along with required supporting documents, it sends you an email to confirm this. You can expect a Needy Money representative to process your application in around 60 minutes, as long as you apply during business hours. Once the processing is complete, you receive a call informing you of the outcome.

Next, you receive the loan contract via email, and this requires acceptance from your end. After you accept the contract’s terms and conditions, you get to select how you receive your funds, and your options include over the counter, by cheque or through electronic transfer.

You have to start making repayments soon after, and these can be in line with your pay schedule.

Compare other loan options

Whilst we don't compare Needy Money Medium Loan directly, here are some other loans that are similar.

Rates last updated March 25th, 2018
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $1,500 Product Description
Sunshine Short Term Loans
9-15 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
Apply for up to $2,000 and have 62 days to 1 year to repay. Note: Centrelink must not be your primary source of income.
Wallet Wizard Smart Loan (Up to 2K)
Up to 2 years
24 hours
47.8% APR
Apply for up to $2,000 as a convenient line of credit.
Ferratum Cash Loans
up to 6 months
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
Ferratum lets you apply for up to $1,900 without a credit check.

Compare up to 4 providers

Looking to apply? Here are the features on offer

If you’re considering applying for a Needy Money Medium Loan, know that it comes with a number of features, which include the following:

  • Flexible loan amount. Depending on your needs, you can apply for any amount between $2,001 and $5,000.
  • Flexible loan terms. With a Needy Money Medium Loan, you have the option of choosing loan terms of between 1 to 2 years.
  • Choose how you get your money. When it comes to accessing funds after the approval of your loan, you can choose between receiving it over the counter, via cheque, or via electronic transfer.
  • Repayment flexibility. You can set up repayments in accordance to your pay schedule, which basically means that you can make payments every week, fortnight or month.
  • Quick processing. By submitting your loan application during business hours you can look forward to 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

If you want to apply for a Needy Money Medium Loan, you have to do so online. Before applying, establish if you meet the following eligibility criteria:

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

In order to successfully complete the application, you have to provide different types of information as listed below.

  • Personal information such as your 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 your expenses, which include repayments towards all existing debts

While Medium Loans provided by Needy Money give you quick access to funds, so do loans by other financial institutions, so it’s in your best interest to compare a few before deciding.

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46 Responses

  1. Default Gravatar
    KylieMarch 6, 2018

    Hi there I am on Centrelink payment and have a loan that is about $26,000 and would like to pay it out as I need to have something cheaper as I can not keep up with the payments can someone help please

    • Staff
      MayMarch 7, 2018Staff

      Hi Kylie,

      Thank you for your inquiry.

      Since you are receiving Centrelink payments, the possible lenders you can check for your loan options are listed on this page. Please note though that the total amount you can borrow would depend on the lender’s assessment of your circumstance.

      Hope this helps.


  2. Default Gravatar
    JNovember 30, 2017

    I am currently under bankruptcy, have a son that just attempted suicide and my bills are piling up! Who can I apply for a loan of around $3000 max from?

    • Staff
      MayDecember 1, 2017Staff

      Hi J,

      Thank you for your inquiry.

      Even if you are in bankruptcy, there are still lenders who may approve you for a loan. You may like to check and get more information from our guide on this page. It would also be best to contact the lender directly about your chances of approval or options.

      Hope this helps.


    • Default Gravatar
      PkFebruary 3, 2018

      Hi pk

      Need same money pay for $5000
      I apply so many time no loan approval .
      Please help me

    • Staff
      JoelFebruary 3, 2018Staff

      Hi Pk,

      Thanks for leaving a question on finder. If you are looking for a 5000$ loan, you can check this out. Before applying for a loan, please ensure that you meet the eligibility criteria and requirements of the lender and read the loan details, as well as the relevant PDS/ T&Cs before making a decision. After which, consider whether the product or option is right for you and your needs. If you need anything else, please send me a message anytime.


  3. Default Gravatar
    ShannonNovember 26, 2017

    I would like to borrow 8,000 to consolidate existing debts and purchase a car. Would I be better off applying with the bank I have an account with or should I try somewhere else. I currently have a payday loan, and also another longer term loan of 2,000

    • Staff
      RenchNovember 26, 2017Staff

      Hi Shannon,

      Thanks for your inquiry. Please note that we are not affiliated with Needy Money or any company we feature on our site and so we can only offer you general advice.

      If you are referring to Needy Money, please contact them directly to inquire about their loans.

      You can also have a look at this page for helpful info and compare other options for personal loans for debt consolidation.

      Best regards,

  4. Default Gravatar
    CraigOctober 11, 2017

    How can I get a 5000 loan with bad credit? I want to do a Debt consolidation and just make one monthly payment to repay this loan, which I really don’t mind doing. I am employed and just don’t want to have all of my bills coming from different directions.

    • Staff
      RenchOctober 11, 2017Staff

      Hi Craig,

      Thanks for reaching out to us. Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.

      You can also have a look on these pages for helpful tips and compare your options:

      You may click the name of your preferred lender to know more details and you may click the green “Go to site” button to submit an online application through their official site.

      Hope this helps.


  5. Default Gravatar
    ThairsSeptember 19, 2017

    I have never had a bank account, I just got a credit score email back tonight saying that my credit score is 559. Im between jobs for a moment and my bills are due . How can I get a loan without proof of my income if all my paycheck went to a skylight prepaid card that the treasure bay casino gave my to set up . I need money fast.

    • Default Gravatar
      JonathanSeptember 19, 2017

      Hello Thairs,

      Thank you for your inquiry.

      Your alternative for providing your payslips would be requesting a bank statement or transaction summary of your prepaid card. This can be done by contacting your card issuer and they can either mail or send an electronic copy of this to you in a mail.

      Alternatively, you can also log unto online banking and check if it can be printed from there.

      Considering you need money as soon as possible, we have a list of lenders for quick loans that can process your application in few minutes up to the same day. Kindly check their requirements and loan terms completely prior applying.

      Hope this helps.


  6. Default Gravatar
    LeeanneJanuary 10, 2017

    I am unemployed as i was bullied out of my job i gave applied for ovet 100+ jobs and have yet to land one i believe my age is going against me eben though i have an abundance of experience. I havent been able to give my son or myself a holiday for so long and we are both stressed to the max and sre in desperate need of getting away for a short time. My credit rating isnt very good but i have worked out we can afford the loan payments and am wondering if someone could please please help us.
    Kindest regards,

    • Staff
      LouJanuary 12, 2017Staff

      Hi Leeanne,

      Thanks for reaching out and I’m sorry to hear about your situation.

      Please visit this page to check and compare your loan options. Before clicking the ‘go to site’ button to submit your application, please do read the eligibility criteria to apply. You’ll find this information on the loan’s review page.


  7. Default Gravatar
    JohnJanuary 4, 2017

    My name is john from adelaide I really need some quick cash my credit record.isnt the best I need about 2000 dollars to cover me for some expenses not on any social media can anybody help cheers

    • Staff
      LouJanuary 4, 2017Staff

      Hi John,

      Thanks for your question.

      Please refer to this page to check for lenders that may consider you for a loan. Please note that other eligibility criteria apply.

      Simply click the name of the loan product you are interested in for more information about its features and requirements. When you are ready to submit an application, please click the “go to site” button.


  8. Default Gravatar
    TinaDecember 12, 2016

    Hello I am in need if a 2000 loan I do not have good credit history but i am tryng to rectify it. I am on centerlink with a dependent is there anyone who can help kind regards

    • Staff
      LouDecember 13, 2016Staff

      Hi Tina,

      Thanks for your question.

      If you have a bad credit history, the lenders on this page may still consider you for a loan. The eligibility criteria vary and some of them accept Centrelink payment as a source of income. Please do click the name of the loan product so you’ll be able to check the eligibility criteria on the review page.


  9. Default Gravatar
    AndrewOctober 1, 2016

    I am after a short term loan of around $ 2000 to consolidate my debts but I have a bad credit rating and how long are you able to pay off the loan if approved ?



    • Staff
      ElizabethOctober 4, 2016Staff

      Hi Andrew,

      You can apply for a Needy Money loan even if you have bad credit. You’ll have between 16 days and one year to repay the loan.

      Hope this helps,


    • Default Gravatar
      AndrewOctober 4, 2016

      that’s ok but i have applied and been declined and am sure why is there anyway i am go about getting approved ?

    • Staff
      ElizabethOctober 4, 2016Staff

      Hi Andrew,

      You can consider another lender, but there is no surefire way to tell if you will be approved. All lenders will only approve you for a loan if you show you can repay it and meet the minimum eligibility criteria.

      Keep in mind that this rejected application is now listed on your file, and lenders may consider this when you apply for another loan.

      You can compare some of your other options here.

      Hope this helps,


  10. Default Gravatar
    ErinAugust 31, 2016

    Hi do you help people with bad credit and on centrelink payments

    Im needing to consolidate my debt

    Kind regards

    • Staff
      ElizabethAugust 31, 2016Staff

      Hi Erin,

      You’ve come through to, a financial comparison service and not Needy Money. However, Needy Money will consider your application if you have bad credit as long as you receive a steady form of income (such as Centrelink payments). You can apply directly on its website.

      I hope this helps,


    • Default Gravatar
      Lukasa0709@gmail.comSeptember 12, 2016

      Please can help I really need loan I emergency

    • Staff
      ElizabethSeptember 13, 2016Staff

      Hi Sam,

      If you’re eligible for Needy Money’s loan you can apply directly on its website. If you want to compare your other options and apply you can do so here.

      Hope this helps,


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