Find out the best way to get a payday loan application approved online

Payday loan application guide

Find out how to apply for a payday loan to have the best chance of being approved.

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Payday loans are becoming increasingly popular in Australia, with more and more lenders on the market specialising in small, short-term loans. These lenders do differ somewhat in their eligibility requirements and application processes, so here's a quick guide on how to find a lender and how to apply for a payday loan.

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:

⚠️ 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.

The application process:

Step 1: Compare lenders

Finding the right lender is the first important start of the application process. Prospective payday loan applicants should review the loan amount, fees, turnaround time and loan term to ensure that they are applying for a loan that meets their needs.

Step 2: Review the eligibility criteria and required documents

Lenders vary on their application criteria and the information they need when from their customers. Usually, applicants will need to be over the age of 18, be a permanent resident of Australia and receiving a regular income, but lenders will differ on where that income can come from (Centrelink, employment or a combination of the two) and what level of bad credit they will accept, and some lenders may also lend to people on certain visas. For example, some lenders accept discharged bankrupts, but others don't.

Generally, applicants will need to provide the following documents in order to apply for a payday loan. Applicants will need to provide the following:

  • Documents to verify their identity such as their driver's licence or passport.
  • Their Internet banking details, which lenders use to access a read-only copy of the last 90 days' of their banking history.
  • Their employment details, including whether they are employed, how long they have worked at their current place of employment and the nature of that employment (full-time, part-time, etc.)
  • Their income and expenses.
  • If they receive Centrelink payments they will need to provide details of this and may need to provide Centrelink receipts.
  • They will need to indicate whether they have taken out a short-term loan in the last 90 days and whether this loan will be used to pay off another payday loan.

How do lenders use my documents to approve me for a loan?

While applicants will be asked for different information depending on which payday lender they apply with, the information is generally used for similar purposes. Here's how lenders use the following details:

  • An applicant's bank statements for the last three months

Lenders will go through the last 90 days' of an applicant's banking history to get a general idea of their financial position, this is also a requirement of ASIC. To help lenders get an applicant's loan to them sooner, most ask for their Internet banking logins in order to obtain a read-only version of their banking history. This is done through a secure, third-party service such as Credit Sense or Yodlee.

Lenders need to be confident that you will be able to manage the repayments, and that you will have money in your account on the day they plan to direct debit repayments. Prospective applicants should always consider prior to submitting an application whether they will be able to afford the loan that they are taking out on their current budget, because although lenders are under an obligation to decide whether or not a person can afford a certain loan, they can be wrong about that decision.

Applicants should also strive to be completely honest on their application about their income, because if their account does not show the income that they say that they are earning, then they will not be approved for the loan. If an applicant earns their income (either part or all) in cash, they will only be approved for a payday loan if they can show evidence that they deposit their earnings regularly into their bank account.

  • Information to conduct a credit check

An applicant's personal information helps lenders conduct a credit check. Unless they indicate otherwise (if they are no credit check lenders), all payday lenders will conduct a credit check, but generally still accept bad credit borrowers. However, the level of bad credit they accept differs. For instance, some lenders will accept customers who are a current or discharged bankrupt, while others will not.

  • An applicant's Centrelink payment information

Lenders are restricted as to how much they can lend to someone who receives Centrelink payments, and they may have rules to follow that they have set themselves. According to ASIC rules, if the majority of a person's income comes from Centrelink (50% or more) the repayments of the loan they're applying for can't exceed 20% of their income. Any other loan that they are already currently repaying are included in this 20%.

  • An applicant's income, pay dates and expenses

A person's income and expenses will be used to determine how much of a loan they can afford, and their pay dates will be used by the lender to set their repayment schedule. This will all be verified using the applicant's bank statements.

Step 3: Approval

Lenders can usually let an applicant know if they've been approved or not in a matter of minutes. This is because most lenders have an electronic system, often known as a loan engine, to assess their applications, rather than a human being. If more information is required in order to approve someone, the lender will get in contact with the applicant to get this information, and the person's application may be delayed.

Step 4: The contract

If someone is approved, they need to agree to the loan contract before they are sent the funds. Many lenders do this by sending their customers an SMS or a copy of a digital contract that they can sign online. Applicants should review the contract carefully, as it will set out their loan terms, repayments amounts and fees for late payments or defaults. If someone has any questions about the contract, they should get in contact with their lender before signing.

Step 5: How long it takes to receive funds

This differs between lenders and will also usually depend on who the applicant banks with. If the lender uses the same bank as the applicant, they can receive their funds within minutes of being sent. Some lenders are able to do this if a customer banks with any of the Big Four.

However, with most, customers will need to apply and be approved by a certain time (usually around 2pm) for the funds to be received on the same day. If an applicant needs their loan today, the earlier they apply, the better chance they have.

Want to compare payday lenders?


Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-14 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Go to site More info
Data updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-14 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 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
62 days to 9 months
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 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + loan management fee of up to $399 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
3-12 months
24 to 48 hours
0% Establishment Fee + monthly fee 4%
A small loan between $500 and $2,000 that can be funded in 24 hours. Note: Save up to $400 when you apply for a small loan from $500 to $2,000 and are approved for a 0% establishment fee. T&Cs apply.

Compare up to 4 providers

What are the risks of payday loans?

  • Unaffordable repayments. Payday loans are an expensive way to borrow money and should only be used as a last resort. Check the size of each repayment and ensure you will be able to pay it on time. Unaffordable repayments can lead to late fees that will only make things worse.
  • High rates and fees. Rates and fees on payday loans are high but there are rules in place so be sure to check your lender is not charging you more than ASIC allows. Also, look at what you would be charged if you are late on a payment or if you default on the loan altogether.
  • Unreputable lenders. All Australian lenders should be accredited by ASIC. Check for a credit licence on the ASIC Register and ensure that the lender is easily contactable.
  • Impact on credit score. Every loan application shows up on credit reports. While lenders might not consider credit history, applying for lots of loans within a short period can have a negative impact on your credit score in the future.

How much does a payday loan cost?

This depends on how much someone applies for:

  • Loans up to $2,000. These are referred to as Small Amount Credit Contracts (SACCs) and have a fee cap. Applicants cannot be charged more than a 20% establishment fee and a 4% monthly fee.
  • Loans $2,001 - $5,000. Referred to as Medium Amount Credit Contracts (MACCs), these are also restricted by an ASIC fee cap. Customers cannot be charged more than a $400 establishment fee plus an interest rate of 48% p.a. which includes all other fees and charges.
  • Loans over $5,000. Lenders offering loans of this amount, excluding Authorised Deposit-taking Institutions (ADIs) are restricted to charging a rate of 48% p.a. which needs to include all fees and charges.

What if I need another payday loan?

Most payday lenders will allow their customers to borrow from them more than once if they prove themselves to be a responsible borrower. Some lenders, such as Nimble, make it easy for people to repeatedly take out loans with them by providing them with "members benefits". These benefits include a member's area that makes it easy to apply. Be aware that payday loans are not long-term financial solutions and repeat borrowing of payday loans may end up being financially damaging.

Have more questions?

How much can I borrow?

This depends on the amount a lender offers and what the applicant can afford. If someone is a first-time borrower, they may be restricted to a slightly lower amount than the lender's maximum available.

What can I use the loan for?

Loan customers can use the funds for any worthwhile purpose, which can include car repairs, medical expenses or to help manage bills.

What if I'm not approved?

Any loan rejection will be listed on that person's credit file, meaning the next time they apply for a loan, a lender will be able to see that they have recently applied with another lender. This can be a red flag to some lenders. Keep this in mind when submitting any additional applications.

Do I have to give my Internet banking logins?

Many lenders require this as this is built-in to their application process. However, customers can find lenders that do not require this, allowing them to submit PDFs of their statements, or have a storefront where customers can bring their statements in person.

Payday loans are designed to cover people for expenses that come up before payday. These can include car repairs, large purchases such as furniture or appliances, to pay forgotten bills or for medical emergencies. Prospective applicants should not use these loans to solve longer-term financial problems such as to make repayments on existing debts.

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12 Responses

    Default Gravatar
    DavidOctober 5, 2017

    Is it possible for me to get a loan of 1000 or more whilst on Centrelink?

      Avatarfinder Customer Care
      JudithOctober 5, 2017Staff

      Hi David,

      Thanks for contacting Finder.

      Yes, you may still apply for a loan. You may apply for personal loans, payday loans, car loans, overdrafts, and alternative financing. You also have other options such as Government and community financial assistance. You compare and check out your loan options if you receive Centrelink. You should be able to check which lenders do by checking the table found on the same page.

      Please click the name of the lender to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps.


    Default Gravatar
    JessieMarch 17, 2016

    Are there any payday lenders who will approve you loan with your employment contract if you have only started and are yet to receive your first payslip?

      Avatarfinder Customer Care
      ElizabethMarch 18, 2016Staff

      Hi Jessie,

      Thanks for your question.

      Payday lenders use a variety of criteria to determine your eligibility for a loan, but they will look at your last three months of banking history for some evidence of income so you can repay the loan. Lenders will also take your form of income into account.

      You can look at what’s required with each lender before applying to see if you are eligible and if a payslip is required.

      I hope this has helped,


    Default Gravatar
    MichealDecember 15, 2015

    My only income is disability pension no employment and I have default with cash stop long term loan cash loan who will give me a loan

      Avatarfinder Customer Care
      ElizabethDecember 15, 2015Staff

      Hi Micheal,

      You can find lenders who may consider you for a loan while receiving the pension. When you have found a lender you want to apply with and that you are eligible for you can click “Go to Site” to submit your application.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      I hope this has helped.


    Default Gravatar
    lelolaDecember 1, 2015

    Hi i need to borrow 1700 to pay rent tomorrow but i get paid cash in hand and also get 750 a fortnight from centrelink but that money goes straight to my mothers medical bills. Can you please tell me what i could do?

      Avatarfinder Customer Care
      ElizabethDecember 1, 2015Staff

      Hi Lelola,

      Thanks for your inquiry.

      Lenders need to be able to see some evidence of your pay if you apply online, this is usually verified using your internet banking logins. Lenders will receive a read-only copy of your bank statements. If you deposit your pay into your account or receive payslips you can use this as evidence – just make sure the lender will accept this.

      You can compare loans you can apply while receiving Centrelink payments and click through to the review pages to find out what is needed in the application. Your best bet might be to call the lenders and find out if you are eligible before you apply.

      You might also want to consider alternative loan options discussed on the same page from government and community financial assistance to be able to pay your rent.

      Please ensure to read through the relevant product disclosure statement and terms and conditions of the loanto ensure that you got everything covered before you apply.

      I hope this information has helped.


    Default Gravatar
    GlenNovember 2, 2015

    Hi, I need to borrow 1200 tomorrow
    Regarding furniture for me and my kids,

      Avatarfinder Customer Care
      ElizabethNovember 2, 2015Staff

      Hi Glen,

      Thanks for your question.

      Your eligibility for a payday loan will depend on your income, your employment and your current debts. You can then compare and apply for payday loans. Simply select ‘Go to Site’ to head over to their website to apply. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before apply.

      I hope this will help.


    Default Gravatar
    MelSeptember 24, 2015

    My problem is I get paid by cash in a pay packet with my wage info on the envelope so I don’t have proof in my bank statements where do I go from here ?

      Avatarfinder Customer Care
      ElizabethSeptember 25, 2015Staff

      Hi Mel,

      Thanks for your question.

      Payday lenders need to be able to verify your income using payslips or your bank statements. If they are not able to verify this information then you may not be able to be approved. Lenders need to see the last three months of your bank statements and see regular salary deposits, so if you’ve been depositing your cash salary into your account yourself at regular intervals this might be okay. Reviewing the approval requirements on our review pages is a good place to start, and you might also want to get in touch with the lenders before you apply to discuss your eligibility.

      I hope this has helped.



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