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 convenient option for you. You can compare the available lenders to see how quickly you'll receive your loan and which lender you'll be eligible with, and when you find the right lender you can easily fill out an online application. Read the short guide below on applying for payday loans online and compare a range of brands.
Sunshine Short Term Offer
This is a short term loan offer with a fast and easy online application for bad credit borrowers who are employed. You can apply today to get approved for up to $2,000.
- Loan Amount: $2,000
- Loan Term: 9 weeks
- Turnaround Time: 30 Minutes - conditions apply
- Total Cost of Borrowing $100: 20% of borrowed amount + 4% of borrowed amount each month
- Bad credit borrowers OK
- Quick and easy Approval
- No Credit Checks - Must be employed
Here are some online payday loans you could apply for
Warning about Borrowing
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.
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. These loans can be applied for 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 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, whether applied for online or at a storefront, have capped fees. 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 a payday loan online 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 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 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 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 on, 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. Online applications can be made within a matter of minutes and you are often advised whether you have been approved instantly.
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 a payday loan?
Payday loans aren't just popular for their convenience, but also for their flexible lending criteria. Payday loans are small and paid back when the borrower receives their next paycheque, so in a way this is less of a risk than longer term loans. Because of this, some payday loan are offered to people who have bad credit. 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.