Needy Money Quick Small Loan Review, Fees and Rates |

Needy Money Quick Small Loan Review

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Quick Small Loans from Needy Money.

Needy Money, a Victoria-based personal and commercial loans provider, lets you apply for a small loan even if your credit file has a few negative marks on it. You can apply for any amount between $100 and $2,000, and loan terms vary from 16 days - 1 year(s).

Upon approval, you can get access to funds in less than an hour, and you can use proceeds from this loan to help you cover any small needs. Whether you need car repairs done or you just need a bit of extra cash to see you through to your next payday, an unsecured loan might be the financing solution you need.


Maximum loan amount

Within an hour

Turnaround time

16 days - 1 year(s)

Term of loan

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Product NameNeedy Money Small Loans
Minimum loan amount$100
Maximum loan amount$2,000
Loan term16 days - 1 year(s)
Turnaround timeWithin an hour
Costs20% of amount borrowed establishment fee) & 4% of principal amount per month.
RequirementsYou must be an 18+ Australian resident with an income.
Available to Centrelink Borrowers?No
  • 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.

Alternatives to Needy Money

Whilst we don't compare Needy Money loans directly, use the table below to see how does it compare to others.

Data updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-14 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
62 days to 9 months
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + loan management fee of up to $399 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
3-12 months
24 to 48 hours
0% Establishment Fee + monthly fee 4%
A small loan between $500 and $2,000 that can be funded in 24 hours. Note: Save up to $400 when you apply for a small loan from $500 to $2,000 and are approved for a 0% establishment fee. T&Cs apply.

Compare up to 4 providers

Here's how a small loan from Needy Money works.

Applicants start by completing an online application. Once someone submits their application and all required documents, they can expect an email confirming the application’s submission. If you apply during business hours, a Needy Money representative processes your application within an hour and gets in touch with you soon after to notify you of the outcome.

Needy Money will then generate and email a contract to you, which you have to accept in order to move forward. Taking into account varied needs of its customers, Needy Money gives you the option to receive your funds via electronic transfer or cheque, and even over the counter.

The contract specifies all the terms and conditions associated with the loan and you have to make repayments as per a pre-decided payment schedule.

The benefits Needy Money provides

Needy Money Quick Small Loans come with a number of features, and here’s what to expect.

  • Anyone can apply. Needy Money takes into account that poor credit history does not necessarily translate into your inability to repay, so you can apply for this loan even if you suffer from poor creditworthiness, just as long as you have the ability to manage your repayments.
  • Low minimum amount. The minimum you can borrow through this loan is $100, making it suitable for smaller needs. You can borrow as much as $2,000.
  • Flexible loan terms. Depending on how much time you require to repay the loan completely, you can choose from loan terms between 16 days - 1 year(s).
  • Multiple fund disbursement methods. When it comes to disbursing approved funds, Needy Money can do this via cheque, electronic transfer and over the counter.
  • Quick processing. If you submit your application during business hours, you can expect a response within 60 minutes. Business hours are Monday to Friday, 9am to 5:30pm and Saturday 9:30am to 12:30pm.

The cost of a Quick Small Loan

Quick Small Loans that Needy Money provides attract various fees and charges, and you can view these as part of the contract provided upon approval of your loan application.

Make sure you take some time to go through all associated fees and charges carefully to avoid surprises later. If you feel that the fees and charges are too costly you have the option of not accepting the contract. If you don’t accept the contract you are not liable to make any payments.

How to apply for a Quick Small Loan from Needy Money

Applying for a Needy Money Quick Small Loan is easy and you can do so online. Make sure you meet the required eligibility criteria as listed below.

  • You are over 18 years of age
  • You are a permanent resident of Australia
  • Your primary income cannot be from Centrelink payments
  • You cannot have entered into bankruptcy or a Part 9 Debt Agreement in the past 12 months

Completing the application requires that you part with different types of information, which include the following.

  • Personal details like your name, date of birth, residential address, phone number, marital status, and number of dependants
  • Banking details like your bank’s name, account number, and how long the account’s been active
  • Details relating to your income and expenses
Needy Money’s Quick Small Loans can give you quick access to money, but given that there are other similar offerings out there, compare a range before applying.
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