Needy Money Quick Small Loan Review

Apply for a Quick Small Loan through Needy Money even if your credit history is less-than-perfect.

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.

Alternatives to Quick Small Loan

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

Updated December 16th, 2018
Name Product Maximum Loan Amount Term of Loan Cash Deposited In Costs Fornightly Repayment (for $1500 Loan)
9-15 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 9-15 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Up to 2 years
3 hours - conditions apply
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
62 days to 1 year
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 1 year. Centrelink cannot be your primary source of income.
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
3-12 months
1 business day
Establishment fee from 10% of loan amount + monthly fee from 2%
A small loan between $500 and $2,000 that can be funded in 24 hours.
6 to 12 months
20% of loan amount + 4% of loan amount each month
A short-term loan from $500 that you can have up to 12 months to repay. All credit histories considered.

Compare up to 4 providers

Do you need a Quick Small Loan? Here's how it works.

You start by completing an online application. Once you submit the application and all required documents you 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 you can 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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