Needy Money Medium Loan Review

Information verified correct on December 8th, 2016

Borrow up to $5,000 and have up to two years 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 , 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 Payday Loans

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

Rates last updated December 8th, 2016
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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
  • You have a source of income

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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28 Responses to Needy Money Medium Loan Review

  1. Default Gravatar
    Andrew | October 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
      Elizabeth | October 4, 2016

      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
      Andrew | October 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
      Elizabeth | October 4, 2016

      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,


  2. Default Gravatar
    Erin | August 31, 2016

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

    Im needing to consolidate my debt

    Kind regards

    • Staff
      Elizabeth | August 31, 2016

      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 | September 12, 2016

      Please can help I really need loan I emergency

    • Staff
      Elizabeth | September 13, 2016

      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,


  3. Default Gravatar
    Tracy | August 16, 2016

    I’m in a part 9 debt agreement.
    Can I apply for a loan amount of $4500?
    Will my bad credit rating affect it?

    • Staff
      Elizabeth | August 18, 2016

      Hi Tracy,

      Bad credit and bankrupt borrowers are able to apply for a loan with Needy Money. Your eligibility will depend on your ability to repay the loan. If you’d like to apply, you can submit an application on the Needy Money website.

      I hope this helps,


  4. Default Gravatar
    Dale | July 30, 2016

    I go bad credit I need a loan but no one want help me I get a Disability pensioner

    • Staff
      Elizabeth | August 1, 2016

      Hi Dale,

      You’re able to apply with Needy Money if you have bad credit or receive the DSP – you just need to show you’ll be able to repay the loan. You can apply directly on its website.

      I hope this helps,


  5. Default Gravatar
    | July 24, 2016

    I’m on Centrelink I’m wanting to get a loan of 2000 how much would I have to pay back

    • Staff
      May | July 24, 2016

      Hi Sherri,

      Thanks for your inquiry. Please note that you’ve come through to we are an Australian financial comparison website and general information service. We are not a lender nor represent any lender featured on our site.

      On this page, you’ll be able to find lenders that offer loans to people who receive Centrelink payments. Please review the criteria and the guidelines outlined on the page before you apply.

      Hope that helps.


  6. Default Gravatar
    nicole | July 2, 2016

    Cant find where to apply

    • Staff
      Anndy | July 4, 2016

      Hi Nicole,

      Thanks for your comment.

      Simply click the green “Go to site” button and you will be redirected to the application page for the particular loan product you are interested in.

      I suggest that you check the eligibility criteria first before submitting an application.


  7. Default Gravatar
    Juditg | June 8, 2016

    I have a overdue electricity bill that are a dept, I can’t afford to pay as I’m only a pensioner and I don’t work. But iam trying to find a company that will be possible to give me the help I need to pay it. All I need is $4884

    When i try other places online I get knocked back because of my credit history.

    • Staff
      Elizabeth | June 9, 2016


      With utility bills it’s best to get in contact with your provider first to discuss your payment issues and ask if you can be put on a payment plan. If they are unable to offer this option you can also consider a Centrelink cash advance. If these options are not available to you, you can consider a loan, such as the Needy Money loan above. You’re eligible to apply as long as you have a regular source of income, but your approval will depend on your ability to afford the loan and manage the repayments.

      You can apply directly on the Needy Money website,


  8. Default Gravatar
    Sarah. | April 12, 2016

    I have a few outstanding way overdue bills that are now a debt I can’t afford to pay these off anymore as I’m only a pensioner and I don’t work. But i am trying to find a company that would possibly give me the help I need to pay a few of these off . All u need is at least $3500 and I’ll be ok.
    But when I try most places online i get knocked back because of my credit history.

    • Staff
      Elizabeth | April 13, 2016

      Hi Sarah,

      Needy Money offers bad credit personal loans up to $5,000 personal loans, so it may be an option to consider. If you can apply in a Needy Money branch you may want to consider doing this to explain your sitation. You can visit its website to find out locations. Other loans up to $5,000 can be found on this page.

      Hope this will help,


  9. Default Gravatar
    Amy | March 2, 2016

    I am around $5000 in debt on my payday/personal loans and lately starting to catch up on me. Ive been trying to apply for a bank loan but none got approved but only got my credit rating down. I just want to consolidate my debt by paying off those small loans and have just one loan repayments. Im working full time and is receiving centrelink payments for my 3 kids. Can i still apply for a loan with you with full time job but bad credit rating?

    • Staff
      Elizabeth | March 2, 2016

      Hi Amy,

      When you apply for a payday loan, lenders such as Needy Money are required by ASIC to enquire whether you are using the loan to pay off any other payday loans or if you have any other payday loans outstanding. If this is the case they are required to take further steps to ensure you will be able to afford the repayments. So, it will dependent on the information you provide in your application whether or not you are approved, however, if you meet the minimum criteria as outlined on the page above you will be able to apply.

      If you want to confirm your eligibility it would be best to get in contact with Needy Money directly.

      I hope this information has been of use.



  10. Default Gravatar
    Greg | February 8, 2016


    I am seeking information to apply for a small loan of $2500 ,with a short repay time

    What is available in this range


    • Staff
      Elizabeth | February 9, 2016

      Hi Greg,

      Needy Money offers loans up to $5,000 if You are a permanent Australian resident, are at least 18 years old and have a source of income. Repayment terms are available between one and two years. You can apply directly on its website.

      I hope this has helped.



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