Find your payday loan online to save time when you need it most.
If you're in need of a small, short term loan, applying online could be the most convenient option for you. You can compare online payday loans to see how quickly you'll receive your loan and which lender you'll be eligible with. When you find the right lender you can access funds as easily as filling out an online application.
Read the short guide below on applying for payday loans online and compare a range of brands.
- Bad credit applicants considered
- Fast approval service
- Borrow up to $2,000
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: 9-15 weeks
- Turnaround time: 30 minutes (conditions apply)
- Fees: 20% of borrowed amount + 4% of borrowed amount each month
- Bad credit borrowers OK
- Quick and easy approval
- No Credit Checks
You can easily apply online for some of these payday loans
What is a payday loan?
A payday loan is a small, short term loan that's usually for less than $2,000 but can be for as much as $5,000. Loan terms differ but are usually around 16 to 60 days, extending anywhere up to 12 months. You can apply for these loans online, but the lender may also have a physical location while accepting online applications.
Need a quick online payday loan? Here's how to apply
- Find a lender using the table above. Look at how quickly you will receive the loan, the loan costs, the loan amount and the terms.
- Click through to the lender's website once you've found the right online payday loan by clicking the "Go to Site" button. Here you can confirm the loan details.
- Apply online by sending through your personal, financial (income, asset + debts) employment (Centrelink or job) and bank account details.
What you'll pay when you apply online
Payday lenders have capped fees, whether you apply in-store or online. Lenders can only charge the following for loans less than $2,000:
- An establishment fee that is 20% of what you borrow
- A monthly fee that is 4% of what you borrow
- A Government fee or charge
- Default fees and late payment fees
- Enforcement expenses if you are taken to court for failing to repay
What makes applying for an online payday loan easy?
If you are considering your short term cash options, you may be wondering which one will offer you the most convenient way of receiving your funds. Here are some features and benefits of online payday loans:
- A quick application. One reason payday lenders operate online is that they can offer a faster application process – you can complete most in under ten minutes and receive a response in 60 seconds. If you log in with your Internet banking details there is no need to upload PDFs of your bank statements.
- Repeat borrowing. Most lenders have member's areas where you can easily borrow from them a second time. Free payday debit cards are also offered by lenders to give you instant access to subsequent loans. Keep in mind online payday loans aren't meant to be a long-term financial solution.
- Comparing lenders. You can use the table on the page above to easily compare fees, terms and turnaround time to find the right lender for you.
- Transparency. You can read all the information on a lender and a loan before you apply.
Case Study: John and Mandy
John and Mandy are both busy working parents with a three-year-old in daycare four days a week. One week their daughter falls sick with chicken pox and John has to stay home with her. As a shift worker he loses money from his take-home pay. They also have to pay extra for doctor's appointments and medicine.
The costs add up with no emergency expenses to fall back on and they aren't sure how they are going to pull through – they have bad credit from a defaulted mortgage repayment from a year ago so are ineligible for most standard credit products.
They start to compare payday lenders online as they only need a few hundred dollars until Mandy gets paid next week. After comparing the range of loans available, Mandy submits an application and they receive the loan the next business day.
Weigh up the good and bad of online payday loans
- Turnaround time. Online payday lenders can often have your loan to you within one business day and some lenders may even be able to send your money to you within a few hours.
- Easy to compare payday loan options. With a range of online lenders at your fingertips, comparing your options is easy. You can look at the features on offer from different lenders and apply for the one that suits you best.
- Quick and simple applications. You can complete online applications within a matter of minutes and receive instant approval.
The not so good?
- Disreputable lenders. There are some disreputable lenders operating in the online space, so you need to be careful when comparing and applying for loans.
- Higher fees. Payday loans come with much higher fees than normal personal loans. It's important to decide whether you really need a loan before applying.
Who can apply for an online payday loan?
Payday loans aren't just popular for their convenience, but also for their flexible lending criteria. Online payday loans are small and easily re-paid when the borrower receives their next paycheque, so in a way this is less of a risk than longer term loans.
Because of this, people who have bad credit can still receive payday loans. You will need to provide evidence of a regular income and also check your recent credit history to decide if they will lend to you.