Online payday loans

Compare payday loans online to save time when you need it most.

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If you need to borrow money, online payday loans are a convenient option. You can compare and apply for payday loans online within minutes and be approved the same day.

Find out how to apply for payday loans online and compare the lenders offering online payday loans below.

Sunshine Short Term Offer

Sunshine Short Term Offer

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

Compare online payday loans with a quick application process

Updated August 20th, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Costs Fortnightly Repayment (for $1500 Loan)
9-12 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 9-12 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.
22 - 52 weeks
Same day - conditions apply
Up to 2K - 20% establishment fee + 4% monthly. Above 2K - $400 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
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.

Compare up to 4 providers

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. Once you receive the funds, you generally have 16–60 days to pay it off, although some lenders may give you up to 1 year.

You can apply for these payday loans online, but some lenders will also have a physical location as well as 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 can get the loan, how much you can borrow and how long you have to pay it off.
  • 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 information (income, assets and debts), employment information (job and/or Centrelink) and bank account details.

What are the benefits of online payday loans?

While not intended to be long-term or ongoing finance solutions, online payday loans bring a range of advantages to people in need of short-term cash.

The features and benefits of online payday loans include:

  • Quick online application. One reason payday lenders operate online is they can offer a faster application process. Most applications for payday loans online can be completed in under 10 minutes, with a preliminary response ready in 60 seconds. Lenders will still need to view your bank statements and other financial documents, but some lenders simplify this process by allowing a secure login to your Internet banking to provide statements directly to the lenders, without having to create and upload PDFs of your bank statements.
  • Fast and convenient funds. Applying for payday loans online means once the application is approved, the funds can be deposited into your nominated bank account almost instantly.
  • Repeat borrowing. Most lenders have member 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.
  • Transparency. Lenders are required to publish their fees, charges and other relevant information online, making it easier to compare online payday loans.

You should always compare a range of loans and lenders to help find the option that's right for you.

John and Mandy

Picture not described: HuggingCouple_GettyImages_250x222.jpg Image: Getty ImagesJohn 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.

Like many young families, John and Mandy live pay cheque to pay cheque and have no emergency expenses to fall back on. The costs of their daughter’s unexpected illness add up and the couple start to wonder how they’re going to make ends meet until their next payday. To make matters worse, their credit was negatively affected by a defaulted mortgage repayment from a year ago, making them 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.

Comparing the positives and negatives of online payday loans

The good?

  • Turnaround time. Online payday lenders can often have your loan to you within one business day, with some lenders even 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. Look at the features on offer from different lenders and apply for the one that suits you best.
  • Quick and simple applications. Complete your application for payday loans online in 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. A reputable lender will never charge an upfront fee to process a loan application.
  • 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.
  • The payday loan spiral. Online payday loans are intended to cover one-off financial emergencies like medical bills or costs associated with replacing or fixing a broken appliance or faulty car. Unfortunately, online payday loans can be so simple to apply for and receive that people can get caught in the cycle of taking out payday loans regularly or using funds from a payday loan to service other debts. Be honest with yourself about the reason for your loan before you apply.

What you'll pay when you apply online

Payday lenders have capped fees, whether you apply in-store or online. On a loan of $2,000 or less, lenders can charge the following fees:

  • Establishment fee, which is capped at 20% of what you borrow
  • Monthly fee, which is capped at 4% of what you borrow
  • Government fee or charge
  • Default fees and late payment fees
  • Enforcement expenses if you're taken to court for failing to repay

Who can apply for online payday loans?

Payday loans aren't just popular for their convenience, but also for their flexible lending criteria. Online payday loans are small and designed to be easily repaid when the borrower receives their next pay cheque. From the point of view of lenders, this makes online payday loans less of a risk than longer term loans.

Because of this, people who have bad credit can still receive payday loans. The lenders need only be satisfied you'll be able to repay the loan amount when you receive your next pay cheque, rather than being confident you can afford ongoing loan repayments over the coming months or years.

What will I need to provide in order to apply for an online payday loan?

  • You'll need to provide evidence of your regular income, which could be a mixture of employment income and Centrelink benefits.
  • Lenders are required to check your bank statements for at least the past 90 days.
  • If you're a new customer, you may be required to provide 100 points of identification.

What other options are available instead of a payday loan?

In some circumstances, an online payday loan could be the perfect solution to help you through a difficult financial period. In other circumstances, a different option for short-term finance may be a better choice.

  • People on low income could qualify for a low interest or interest-free loan from a not-for-profit organisation.
  • Centrelink recipients could apply for an advance on their benefits to assist with financial hardship.
  • Depending on the circumstances, it may be a better option to use a credit card to finance your expense, rather than applying for a payday loan online.
  • If the loan is to cover a phone or utilities bill or to pay land rates, contact the provider directly. Many utilities providers in Australia offer payment plans for people in financial hardship.

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2 Responses

  1. Default Gravatar
    madelineDecember 2, 2014

    is there any instant loan websites that can put the money into your account straight away after business hours for westpac?

    • Avatarfinder Customer Care
      ShirleyDecember 2, 2014Staff

      Hi Madeline,

      Thanks for your question.

      Unfortunately there aren’t many organisations that can issue the funds out of business hours. However, you might want to have a look at our instant cash loans page to see what options are available to you.

      All the best,

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