Personal Loans No Credit Check
Borrow up to $1,900 over a period of 3 to 12 months with a no credit check personal loan.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Are you struggling financially?
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help
⚠️ Warning about Borrowing
Do 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.
Comparison of no credit check personal loans
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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 3 to 12 months.
- Cash Train Loans: With a loan from Cash Train you could borrow up to $800 on your first loan without any credit checks.
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. These lenders will make their own decision on whether you will be able to pay back a loan based on factors like your income rather than using an external credit check. This is risky for the lender and this risk can be result in higher rates and fees. While these loans can be more expensive, all lenders still have to set their fees in line with 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 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 should 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 but this can be harder to find so make sure you check with the provider.
- 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 overall 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 and have a credit licence on the ASIC Register.
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:
- 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.
More guides on Finder
eBay EOFY sales: Best deals from Apple, KitchenAid and more
Score up to 22% off millions of items with these top end of financial year offers.
Thinking about teeth aligners? Here’s how to make them more affordable
SPONSORED: Perfect teeth could be in closer reach than you think.
Your first look at the Billie Eilish x Air Jordan 1 sneaker collab
Featuring Billie's signature shade, here's what you need to know if you want to cop these kicks.
Amazon Prime Day 2021: Don’t miss these deals on 21 June
Amazon Prime Day is returning to Australia in the first half of 2021. Here are six online deals you need to know about.
How to buy TitanSwap (TITAN) in Australia
This guide will show you step-by-step instructions on how to buy the TitanSwap (TITAN) token as well as a list of exchanges you can trade it on.
Canterbury Bulldogs vs St George Illawarra Dragons NRL: Start time and watch free
The one-win Bulldogs return after a bye, hopefully refreshed and ready to meet the Dragons.
NSW first home owners tax reform offers 25K grants
First home buyers in NSW could be given up to $25,000 towards their first home purchase – find out if you're eligible.
24 PlayStation 5 consoles are up for grabs this long weekend
eBay is giving away 24 PlayStation 5 prize packs this long weekend - here's how to enter.
Does anyone actually need Twitter Blue?
Here's everything included in Twitter Blue and how much it costs.
How to watch UFC 263 Adesanya vs Vettori 2 live in Australia
Undisputed champion Israel Adesanya is ready for his long-awaited rematch against Marvin Vettori in Arizona.
Ask an Expert