No Credit Check Personal Loans

Compare personal loan lenders that don't conduct a credit check and learn about the other eligibility requirements that applicants must meet.

Last updated:

Unlike most credit issuers, there are some lenders that don't do credit checks when assessing an application for a personal loan. This could be an alternative for someone with a low credit score or poor credit history who wants to apply for a loan. Applicants may need to meet other eligibility criteria including minimum income or employment requirements, so it's important to check these to see if you meet the requirements before applying. As these are a higher risk for the lender, no credit check loans may charge higher fees than other options. Use this guide to compare no credit check personal loans, understand the eligibility criteria as well as the fees and features that you can expect.

Financial hardship


If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.

⚠️ 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.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Security Logo

100% confidential application

Sunshine Short Term Offer

A short term loan with a fast and easy application available to those with good or bad credit. You can apply today and get approved for up to $2,000.

  • Loan amount: $2,000
  • Loan term: 9-12 weeks
  • Turnaround time: 30 minutes (conditions apply)
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Income requirement: 50%+ of income cannot be from Centrelink
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks
Go to site
Promoted

Comparison of no credit check personal loans

Updated November 17th, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
$2,000
9-12 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
$2,000
up to 12 months
Within 48 hours
$33
20% establishment fee + 4% monthly fee
$396
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.

Compare up to 4 providers

Compare no credit check personal loans

  • Ferratum Cash Loans: You can apply for a no credit check personal loan from Ferratum and get up to $1,900 over a period of up to 12 months.
  • Sunshine Loans: Sunshine Loans offer loans up to $2,000 without conducting a credit check.
  • Cash Train Loans: With a loan from Cash Train you could borrow up to $800 on your first loan without any credit checks.
*Total cost may vary based on any other fees charged by the lender at the time of repayment

Why don't these lenders require a credit check?

Various lenders specialise in bad credit loans and lenders that do not require a credit check are part of this group. The lender offsets the risk of lending to those with bad credit by charging higher rates and fees. While these loans are more expensive, it's important to keep in mind the lenders still have to set their fees by ASIC's requirements.

The different types of no credit check personal loans

There are three types of personal loans which don't require a credit check: unsecured loans, secured loans and payday loans.

Payday loans

Payday loans also referred to as short-term loans, vary in terms of loan amount and loan terms. Generally, the loan terms will vary between 6 days and one year and loan amounts up to $5,000.

Unsecured personal loan

These loans are larger than payday loans, with some lenders offering amounts up to $10,000. As the loan amount is larger, the interest rate will be higher. Loans above $5,000 come with a maximum rate of 48% p.a.

Secured personal loan

A secured loan requires the borrower to use an asset as collateral for a loan, usually a large item. Offering security may help those with bad credit be approved and some lenders will not require a credit check

What you need to know when comparing no credit check personal loans

Before you apply for a loan, ask the following questions and compare your options:

  • What are the associated fees? Responsible lenders will be upfront with you about all fees and charges. This could include establishment fees and monthly fees. The lender will also charge fees if you fail to make repayments or default on the loan.
  • What are your loan terms? As discussed above, loan terms can vary between weeks to months or years. People should make sure that the loan term aligns with what they can afford and consider the fees that will apply (for example, customers are usually charged more fees for longer loan terms) before applying.
  • Does the loan offer repayment flexibility? Lenders can have strict repayment options. For example, some lenders will tailor the repayments to suit the borrower's pay frequency (for example fortnightly or monthly), while others will let you choose the dates to repay. Some lenders also allow customers to repay their loans early without paying any fees.
  • Is the lender trustworthy? Unfortunately, there are a lot of disreputable lenders who offer no credit check personal loans. It's important to check the lender's website and see how upfront they are about fees, charges and loan terms. The lender should also be easy to contact.

How to apply

The process will vary between lenders but you can usually apply online. Before submitting an application, consider the eligibility criteria as well as the fees and features of the loan. The specific criteria will depend on the loan but usually includes:

Eligibility criteria

  • Age. Must be at least 18 years old.
  • Income. Applicants must prove that they receive a regular income. If this includes support from Centrelink, it shouldn't make up more than 50% of the total income.
  • Banking statements. To assess income and expenses, lenders usually require applicants to provide recent bank statements.
  • Liabilities. Applicants must list details of other liabilities including outstanding loans or credit cards.

Although these lenders won't check credit history while assessing the application, they will consider other financial factors to ensure that applicants can repay the loan. As these loans generally charge higher rates and fees, it's important to consider the risks and only apply for a loan if you're sure that you can afford to repay it.

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

60 Responses

  1. Default Gravatar
    DaleJuly 10, 2018

    Can I get a bad credit loan on Newstart allowance

    • Default Gravatar
      JoelJuly 10, 2018

      Hi Dale,

      Thanks for leaving a question on finder.

      You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available. To compare, please click HERE.

      Cheers,
      Joel

  2. Default Gravatar
    KathrynOctober 17, 2017

    I am looking for a personal loan of $10000. I get disability support pension. I also get income protection payments monthly and a pension from the UK monthly. @$40000 annually and consistent .
    I would like it to be over 7 years with the flexibility of being less. I have looked at my credit report and there is nothing that jumps out. However I did suffer financial hardship @5 years ago so I’m not that happy about it being checked. There is record of my applications. I’m classed as moderate.
    Reason for loan is for major dental work. I may be able to get it covered by TAC but I’m only just starting the process of starting the claim. The other reason is that I need emergency money for a flight. My Mum is 85 and in the UK. There is no doubt that I’m going to need to drop everything and fly there.
    I share rent with my 20 year old daughter.
    I have no loans or debt.
    I have a car worth @$10000. I have superannuation $42000. My contents are insured for $70000. I have several items of art and jewellery which are valuable.
    I have usual expenses except the costs of my dental treatment.
    I admit to not being disciplined in keeping to my in depth budget. I do be,i eve I will be able to service the loan comfortably. My Mother is very supportive and is and willing to cover me if needed. She is willing to put that in writing.
    I do not want to make another application that is denied in 60 seconds and then gets added to my credit report.
    I would prefer a loan but would consider a credit card making it a priority in my budget.
    I would be grateful for advice and potential providers.

    • Avatarfinder Customer Care
      JudithOctober 18, 2017Staff

      Hi Kathryn,

      Thanks for contacting finder, a comparison website and general information service.

      I do understand that you would like to know your loan options. You may check out this page for you to have a comparison of each lender. You can also calculate your borrowing ability through our calculator which is also on the same page.

      Aside from the it, kindly check the other list of options which you may view here.

      You can click through to the page to find out more about the personal loan options available, and you can click “Go to Site” to submit your application. If you have questions regarding your eligibility it would be best to contact the brand directly.

      To improve your chances of getting approved for a loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.

      Every loan application you make will be listed on your credit file and too many applications within a short space of time will not look good to a prospective lender. If you would like to see if your bank would approve a loan for you, have a chat to them over the phone, online or in a branch to see what they say before you apply.

      I hope this helps.

      Sincerely,
      Judith

  3. Default Gravatar
    BennieSeptember 13, 2016

    I would like to know if I’m able to borrow $600

    • Avatarfinder Customer Care
      ElizabethSeptember 13, 2016Staff

      Hi Bennie,

      Eligibility criteria differs between lenders but you can check the criteria for each lender by clicking on the name of the loan. Once you’ve found a loan you’re eligible for and want to apply for, click “Go to Site” to submit your application.

      Hope this helped,

      Elizabeth

  4. Default Gravatar
    CarmelJuly 29, 2016

    Can I get a secured loan with my Car with bad credit, on centre link with money coming in from my son who pays half my rent and get money from my ex husband.

    • Avatarfinder Customer Care
      ElizabethAugust 1, 2016Staff

      Hi Carmel,

      You can compare lenders that consider Centrelink applicants for loans (banks and short-term lenders) on this page. You can click through to the provider pages to find out what loan options are available.

      I hope this helps,

      Elizabeth

  5. Default Gravatar
    2youngJune 28, 2016

    is there a way to get a loan for only $100

    • Avatarfinder Customer Care
      ElizabethJune 28, 2016Staff

      Hi,

      If you’re looking to apply for a no credit check loan, Ferratum offers a minimum loan amount of $100. Check you meet the minimum criteria and then click “Go to Site” to submit your application.

      Hope this has helped,

      Elizabeth

  6. Default Gravatar
    MelodyMay 5, 2016

    Apply for a loan no credit check at all which company can I go to for personal no credit check

    • Avatarfinder Customer Care
      ElizabethMay 6, 2016Staff

      Hi Melody,

      The options listed on the page above do not conduct a credit check. You can compare to find the right one for you and when you’re ready to apply click “Go to Site”.

      Hope this helps,

      Elizabeth

  7. Default Gravatar
    cherylApril 21, 2016

    If my loan is 7000 how much will i be paying back each fortnight

    • Avatarfinder Customer Care
      ElizabethApril 22, 2016Staff

      Hi Cheryl,

      Your repayments depend on how long your loan term is. You can use the loan calculator here to determine your ongoing repayments.

      Hope this will help,

      Elizabeth

  8. Default Gravatar
    JoeMarch 20, 2016

    What would I pay weekly on a $2000 loan

    • Avatarfinder Customer Care
      ElizabethMarch 21, 2016Staff

      Hi Joe,

      This depends on how long you are taking out the loan for. You can use the payday loan repayment calculator on this page to get an estimate for your ongoing repayments.

      I hope this has helped.

      Thanks,

      Elizabeth

  9. Default Gravatar
    RobeyMarch 7, 2016

    Iam from indonesia,can i borrow some money

    • Avatarfinder Customer Care
      ElizabethMarch 7, 2016Staff

      Hi Robey,

      Unfortunately, as an Australian comparison website, the lenders on this page can only consider you for a loan if you currently reside in Australia. You may need to find a lender in Indonesia to apply for a loan.

      Elizabeth

  10. Default Gravatar
    sunghiFebruary 29, 2016

    can i borrow money for $12?

    • Avatarfinder Customer Care
      ElizabethFebruary 29, 2016Staff

      Hi Sunghi,

      The cost of the loan will depend on how much you borrow and also who you apply for a loan with. If you apply for a loan of less than $2,000, the maximum fees the lender can charge cannot be more than 4% of the principal amount as a monthly fee and a 20% as an establishment fee.

      I hope this has helped.

      Thanks,

      Elizabeth

Ask a question
Go to site