A small loan could be a viable short term alternative.
Compare your options for credit & apply for a loan in minutes.
Sunshine Loans Short Term Loan 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. Get your loan funded in 30 minutes - conditions apply.
Loan Amount: $2,000
Loan Term: 9 weeks
Turnaround Time: 30 Minutes - conditions apply
Fees: 20% of loan amount + 4% of loan amount each month
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
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Find a lender on the table above. You can compare your options by looking at the amount the lender offers, how long you'll have to repay, how much the loan costs, etc. Once you find a lender you want to apply with and that you're eligible for, click "Go to Site" to submit your application.
You'll need your personal, financial and bank details as well as employment or Centrelink information, depending on your situation. Find out if you get your funds in a few minutes and receive it on the same or next business day straight into your bank account.
This calculator is designed to provide you with an estimate based on the numbers you enter. Your personal details are not taken into account and all calculations are based off the calculation model. This calculator is not intended to be the sole source of your information when making a decision regarding your loan, and this calculator also does not guarantee your eligibility. The calculator works off the following assumptions: fees do not change for the life, your lender will charge a 20% establishment fee and a monthly fee that is 4% of your principal loan amount. You may want to seek advice from a financial professional before signing up to a loan.
New study suggests that lending reforms that restrict access to financial services could deprive low-income earners of basic necessities. Read more…
Some of the lenders we compare
What is a short term loan?
A short term loan is a form of credit that is advanced to you when you fall short of funds. It is generally paid back in line with when you are paid, hence the term "payday loan". They also can go by the terms cash advance loans and bad credit loans. Loans up to $2,000 come with fixed fees, regulated by the government at 24%. This is comprised of a 20% loan establishment fee and a monthly loan fee of 4%, which are calculated based on your principal.
What is my loan principal?
How much you borrow from the lender will always be referred to as the "principal amount". It is your duty to ensure that you have the available funds to pay back your loan on the due date including any fees and charges applicable.
Use the calculator above to get an idea of your repayments (principal + fees).
A short term loan is unsecured, so if you can't pay it back, the lender can report the debt to a credit reporting body such as Equifax and use the services of a debt collector.
Are these types of loans actually a good idea?
Short term cash advances can be a convenient way for you to access credit, but you can also be penalised for not sticking to the repayment requirements. If you default on the loan or the loan goes into collection you will receive a negative mark on your credit file that can stay there for as long as seven years. It’s important to only borrow as much as you will be able to repay and to budget your repayments accordingly. If you have any doubts about your ability to meet your repayments then you may want to consider other credit options.
Remember it's important to compare your options and other financial avenues before applying.
What features are you looking for?
These loans go by a range of names in Australia including cash advances, payday loans and short term loans. Before you apply, compare a range of loans that might fit your needs.
Lenders offering short term loans differ from institutions and other lenders in their application processing and criteria. You will usually be able to apply for a these types of loans online and get a response quite quickly. To be approved for a payday loan you have to meet eligibility criteria and provide documentation:
Eligibility criteria
Be 18 years of age or older
Earn a minimum income, usually around $350 a week
Have a job with steady income (or benefits)
Get paid frequently into your bank account (not in cash) either daily, weekly or monthly
Receive less than half of your income from benefits
Not be self-employed (some lenders may make an exception)
If you have bad credit, you need to prove that your current financial situation is stable and reliable
It's important to note that meeting the eligibility requirements does not guarantee your approval of your loan.
Required documents
Drivers licence (or proof of ID card)
Medicare Number
Three recent payslips
Your Internet banking details
Utility bill - e.g. council rates, electricity bill, gas bill, Foxtel/Austar bill, mobile phone bills, broadband internet
How much will the loan cost?
Fees for loans under $2,000
Establishment fees. This fee is to cover the set-up of the loan and is capped at 20% of the principal.
Monthly account fees. Monthly fees are capped at 4% of the principal.
Interest fees. This is a percentage amount you are charged for the loan and comprises the monthly account fee and establishment fee.
Fees and interest for loans between $2,001 and $5,000
Establishment fees. This fee is to cover the set-up of the loan. This is capped at $400.
Interest. Interest is capped at 48% p.a of the principal.
What other fees are associated with payday loans?
Along with establishment and monthly fees, if you are late or miss a repayment, you may be charged other fees, which can include:
Late payment fees. If you are late with a repayment and don't notify your lender beforehand then you will likely be charged.
Arrears fees. You will be charged a fee if your account goes into arrears.
Collection fees. Any loans which are referred to collections or are defaulted on may incur additional fees.
Collection letter send out. If you receive a collection letter because you have failed to make a repayment and the lender cannot contact you then you may be charged a fee.
Statement fee. If you request an account statement from the lender you may be charged a fee.
Why don't you pay interest on a payday loan?
Since 2012, payday loans have had tighter restrictions and regulations under government reforms that capped fees and charges – no interest is charged. If you are borrowig under $2,000, fees are capped at 20% of the loan amount as an establishment fee and a 4% monthly account-keeping fee. If you borrow $100 for a month and pay back the loan on the required date, the amount debited will be $124. Keep in mind the less time you have the payday loan the higher the annualised rate will be. When comparing payday loans, it is important to keep the repayment schedule and many other factors in mind. To help you compare, you could read our frequently asked questions guide.By law, payday companies are not allowed to include any reference interest rates on the contract of credit. They can make references to the effective comparison rates and APR, but it's important to remember that payday loan interest rates are based on a shorter loan term than the standard APR calculation of 365 days.
Questions you might have about your eligibility
Can I apply if I receive the pension?
If you have retired or are physically unfit to work, you can still access a line of credit or a small personal loan. Some lenders consider your pension as income, so you may still be eligible depending on your financial situation and what you need the loan for. You can read the guide for pensioners who need a loan. It's full of tips and advice on how you could maximise your chances of success when applying.
Can I still get a loan if I receive other Centrelink payments?
Some lenders and institutions do consider Centrelink payments as income, so you may be eligible for a loan. It generally depends on how much you earn, what kind of financial situation you're in and what kind of payments you receive. To find out if you are eligible, read our comprehensive guide to getting a loan on Centrelink payments.
What do I do if I have bad credit?
Short term lenders offer flexible eligibility criteria and generally accept those with less-than-perfect credit, but did you know there are lenders who don't check your credit file?
You can consider a payday loan with no credit check. Having bad credit shouldn't stop you from getting a loan. Find our which companies will lend you up to $1,000.
Find a personal loan lender that doesn't check your credit. Why should what you earn now be affected by what you did in the past? Find a lender who will assess you on your financial situation as it stands today.
How can I improve my short term loan application?
It's important to arm yourself with enough knowledge to make an informed decision. When you are comparing payday loans and the repayments, some of the things that might be weighing on your mind are:
What is the purpose of your loan?
How quickly do you need access to your funds, and how much do you need to borrow? If you need immediate access you may want to consider a payday provider who guarantees funds within the hour. Some providers only offer payday loans up to $1,000 or less for first-time borrowers so if you need more than that then you should consider another lender.
The fees, charges and interest associated with a loan
The fees and costs will determine whether or not you can afford the repayments, so is important to take into account. Payday loans usually offer set fees and interest rates which make their value easier to compare. You should also check the fees you will be charged if you miss or are late with a repayment before deciding on a loan.
What lender are you applying with?
When choosing an instant payday loan you should also think about the lender. Check the lender's website and make sure they are a reputable company. You should see how transparent they are with their information on fees and interest rates, as well as how easy it is to contact them.
"Payday loans near me" – Which lenders are mobile-friendly?
When it comes to applying for a loan, a lot of it is about convenience. Can you apply for the loan from your phone? Does the lender have a mobile app? We've got the information you want if you're looking to apply for a payday loan wherever you are.
Questions you've always had, but were too scared to ask.
Payday loans are called so because they are all about your payday. Your repayments are structured around when you get paid, they're based off how much income you earn, and you are taking one out because your payday is too far away. Payday loans give you a way of bringing your payday closer – maybe you have a wedding on the weekend and you've forgotten to buy a gift, maybe your car has broken down and you need it to drive to work. Whatever has happened you can apply and bring your payday closer with a short-term loan. Have more questions? We have the answers below.
What can I use my payday loan for?
Payday loans can be used for a wide range fo of purposes, but are generally for unexpected expenses. Common uses for payday loans include forgotten bills, car repairs, to cover medical expenses or any other suddent events. You shouldn't use payday loans to fix long term issues in affording your credit, for day-to-day expenses or for a big ticket item such as a car or house.
Lenders will have a maximum loan amount and some will have a lower maximum amount for first-time borrowers. The amount you're able to borrow depends on how much you get paid and your financial situation – in short, your ability to repay your loan. You can use the payday loan calculator above to help see what your repayments will be on different loan amounts.
Are payday loans actually a good idea?
Payday loans are an expensive form of credit and should only be applied for if you have no other options. High-profile lenders such as Cash Converters have been fined by ASIC for overcharging customers and others have been criticised for predatory behaviour and approving loans to people who can't afford it. While these loans are heavily regulated by ASIC, it's important to remember they are expensive and you should only apply if you have no other alternatives.
Before you apply, consider your alternatives to see if you may be eligible and if the other credit types suit your needs. It's also a good idea to calculate costs to see if any of the alternatives are cheaper than a payday loan. For example, a credit card cash advance is also a convenient way to get cash but can carry a 20% interest rate. There are also no and low interest loans you can consider if you receive Centrelink or are on a low income and need money to purchase essentials. If you have no other alternatives and have determined you can afford the loan, then a payday loan is a viable option for you to consider.
Some lenders offer the ability for your employer to repay your loan directly when the payroll is processed. You can confirm this with your lender before you apply. This process can make sure that your loan gets paid on time and no penalties are applied to your account.
How quickly will I get my cash advance money transferred?
Most payday lenders will provide you with a decision on the spot or within 60 seconds. They may need supporting evidence of your wage and employment via bank statements and pay slips. Depending on who you bank with, the funds will be in your account within 24 – 48 hours. This will also depend on whether this is your first loan and if it is a weekend or public holiday. Many payday loan providers claim to offer same day funding. This can be true if you've taken out a loan with that institution before, or are a holder of a prepaid payday loan Visa card. If you are stuck for cash on a Saturday or Sunday, and you already have a relationship with a lender, it could be worth considering comparing its offerings.
Under government law all small amount credit providers must check 90 days worth of your bank statements. This is to genuinely check that you can service the loan and the repayments. Instead of faxing or emailing these statements to the bank, some lenders use online verification through Credit Sense. Credit Sense uses 128-bit security encryption to safely provide you bank statements. You're bank details are never stored and neither will your logins.Read More:Why lenders need your details.
I already have a payday loan. Can I get another one?
Payday loans are regulated by government law and designed to be a "stop-gap" solution to financial problems. There are various restrictions around borrowing more than one loan at once – find out if you might be eligible here.
Can I renew my payday loan?
In line with Australian government regulations, you can not renew or roll over your payday loan. You'll never be charged a renewal fee for any payday loan you take. If you want to take another loan, you'll first have to pay off your current loan and then re-apply (after assessing your current financial situation).
Is it a good idea to repeatedly take out payday loans?
If you make all of your repayments on time then generally a lender will approve another loan. Lenders such as Cash Train have a designated members area designed for repeat borrowers. Loan Ranger Cash limit the amount you can borrow on your first few loans, but this limitation is offset by discounts on your fees for subsequent loans. Keep in mind these loans are not a long term solution, and if you frequently need to borrow money then you may need to consider a longer term borrowing option or a more stable line of credit. It may help to lower your expenditure each month to overcome your cash shortfall.
How do I know my details and account are secure?
Australian payday loan companies use a secure online system, such as Verisign, McAfee or Norton to secure data. Payday loans applications are generally carried out on a secure online application form to help protect your privacy. These system uses a 128-bit secure server and SSL encryption to ensure your personal information cannot be stolen. To verify your income, payday lenders will need a snapshot of your account for the past 90 days. These services involved are 100% safe and secure and they only provider a "read-only" view of your account. There are no personal details transmitted and no access to any other information besides your financial history is needed.
I just changed bank accounts, can I still apply for a loan?
As per the government regulations, payday lenders require at least 90 days of bank statements. If you have recently changed bank accounts then your income may be hard to prove. If you have access to your previous bank account, you should attempt to obtain statements for the last three months to prove your income. If not, your previous institution should be able to give you access. The more information you can provide, the better your chances are of getting approved.
Where in Australia can I get a loan?
Before the new payday loan(SACC) regulations came in effect, there were different lending requirements and criteria for each state in Australia. However, with the current government regulations, Australian's can have access to extra cash if, and when they need it if they meet the criteria. Use the map below, and click on the state where you need your loan
If you have done your due diligence and still wish to apply for a credit Loan, and understand the risks of borrowing, start a comparison of payday loans
Just to confirm, are you looking for a personal loan where you can use your car as a security? If so, you may check your eligibility and compare your options for a loan and discuss your chances of approval and options with a lender featured on this page.
I work have worked full time at my new job for about 6 months now but my boss pays me cash but I’m still on the books, like I pay tax stuff. Is there I way of getting a loan for around $1000 ?
I take home over $1000 every week
There are actually ways on how you can improve your credit rating one of which to avoid enquiries on your file. An enquiry happens if each time you apply for any form of credit. Another is by avoiding payment defaults as it is difficult to remove from your file. For more information on how you can improve your credit score, please click this link.
Goodevening,am so glad to fine u,pls i need a loan of $200 to claim and transfer a money of behalf of my beloved friend into my bank a/c.And am ready to pay it back when everything succeed please.or can even forward the evident document to u through ur email.pls try hard to save me and my beloved.Am in Ghana and my beloved is in Dakar.hope to hear from u soon
Unfortunately the lenders on this page are only available to current Australian residents. You’ll need to contact a lender in Ghana if you need a loan.
If you are aware of the lenders that this person is applying to you should contact them immediately to make them aware that the person is not you. You also can get in contact with Veda, the credit reporting agency, to put a hold on your credit report. This means if a creditor tries to access your report to verify information in regards to a loan application they won’t be able to. Ordering a copy of your credit file to identify further fraudulent transactions may also be a good idea. Informing your bank of what is happening may also be a good idea.
You can also get in touch with IDCare, the national identity support service, that can help you come up with a response plan. You can call them on 1300 432 273.
hi im wanting to know if I’ve been in my job for 2 months on the mark. Can I still be eligible for a cash loan online? if not what would my options be. I get $570week after tax
When you apply for a short-term loan, lenders will need to see the last three months of your bank statements to verify your income and financial situation. So, if you’ve only held your job for two months this may not be sufficient. However, if your statements show you to be a stable financial situation you may be eligible.
It would be best to verify with the lender you’re looking to apply with to confirm.
I been trying to apply for loans about a month now ad no help. I wouldn’t ask fr it if I can’t pay it back.I need help ad everyone is terminate me please I need help to get a loan I have a bank account open with bad credit. Please help I will pay back all the money
Unfortunately I can’t recommend a lender to you as it depends on your individual financial situation. You can compare lenders on the page above, but if you are in need of some personal financial advice you can call 1800 007 007 to get in contact with a free financial counsellor.
Unfortunately as an Australian financial comparison website we only offer comparisons of loans available to current residents of Australia – you’ll need to find a lender in West Africa to apply for a loan.
Can I get a payday loan without photo ID. I lost my license and only have Medicare, bank card and birth certificate as id. I was approved but asked to provide photo id. What can I do.
Lenders just need a way to verify your identity so will have different requirements for this. Your birth certificate may be sufficient for some lenders along with your Medicare card, etc. However, it’s best to confirm this before you apply.
You might want to ask the lender you applied with if you can provide another form of ID, or consider replacing your licence, because if you don’t take on this one and apply for another loan the first application will appear on your credit file and may affect your approval chances for the second loan.
Am i able to lend 800 for my medical appointment and of food for kids and having the CEO and doctor from the epilepsy foundation and getting the money for the appointments is hard right now and won’t to get food be for school goes back and get some warm cloths for kids
You can compare your short-term cash options using the table above and click through to the lender’s page to find out if you’re eligible. Eligibility criteria such as age, income and criteria relating to employment or Centrelink benefits (if that relates to you) will apply. Make sure you check you meet all of this criteria before submitting your application. If you don’t believe you will be able to afford the repayments, there are alternative loan options available you can consider. You can also call the free financial counselling service hotline on 1800 007 007.
All I want to no is can you lend me a $1000 because I’m getting behind on a lot of bills and I can’t get a loan of Centrelink till nex month a $1200 from Centrelink and my car is up for rego on the 30/1/2016 and I haven’t got the money I got rego inshorence and the phone bill and foxtell
You can find a list of lenders who may consider you for a loan on this page. You may also want to consider some of the community financial assistance programs listed, including the no and low interest loans that may be able to be accessed by Good Shepherd Microfinance.
To apply for a loan please compare your options using the table above, once you’ve found the loan you want to apply for click “Go to Site” to submit your application.
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Please read our website terms of use for more information about our services and our approach to privacy.
Do you really need a loan today?*
Payday loans are called so because they are all about your payday. Your repayments are structured around when you get paid, they're based off how much income you earn, and you are taking one out because your payday is too far away. Payday loans give you a way of bringing your payday closer – maybe you have a wedding on the weekend and you've forgotten to buy a gift, maybe your car has broken down and you need it to drive to work. Whatever has happened you can apply and bring your payday closer with a short-term loan. Have more questions? We have the answers below.
How can I get a loan against my car I own?
Hi Rhys,
Thanks for your question.
Just to confirm, are you looking for a personal loan where you can use your car as a security? If so, you may check your eligibility and compare your options for a loan and discuss your chances of approval and options with a lender featured on this page.
Hope this has helped.
Cheers,
May
I work have worked full time at my new job for about 6 months now but my boss pays me cash but I’m still on the books, like I pay tax stuff. Is there I way of getting a loan for around $1000 ?
I take home over $1000 every week
Hi Jack,
Thanks for reaching out.
If you’re getting paid in cash, we have a guide on this page that will help you find lenders who can help with your borrowing needs.
Cheers,
Anndy
Hi,
Can using one of these fast money loans improve your credit score when paid accordingly?
Thank you
Hi Jess,
Thank you for your inquiry.
There are actually ways on how you can improve your credit rating one of which to avoid enquiries on your file. An enquiry happens if each time you apply for any form of credit. Another is by avoiding payment defaults as it is difficult to remove from your file. For more information on how you can improve your credit score, please click this link.
Cheers,
May
hello would like to know how much oweing on my short term payday loan is left please.thank you
Hi Rosa,
We don’t have any access to your account information so you’ll need to get in touch with the lender that you applied with.
Sorry I couldn’t be of more assistance.
Elizabeth
Goodevening,am so glad to fine u,pls i need a loan of $200 to claim and transfer a money of behalf of my beloved friend into my bank a/c.And am ready to pay it back when everything succeed please.or can even forward the evident document to u through ur email.pls try hard to save me and my beloved.Am in Ghana and my beloved is in Dakar.hope to hear from u soon
Hi,
Unfortunately the lenders on this page are only available to current Australian residents. You’ll need to contact a lender in Ghana if you need a loan.
Sorry I couldn’t be of more assistance,
Elizabeth
my id was stolen someone is using it to get personal loans what can I do
Hi Peter,
If you are aware of the lenders that this person is applying to you should contact them immediately to make them aware that the person is not you. You also can get in contact with Veda, the credit reporting agency, to put a hold on your credit report. This means if a creditor tries to access your report to verify information in regards to a loan application they won’t be able to. Ordering a copy of your credit file to identify further fraudulent transactions may also be a good idea. Informing your bank of what is happening may also be a good idea.
You can also get in touch with IDCare, the national identity support service, that can help you come up with a response plan. You can call them on 1300 432 273.
I hope this helps,
Elizabeth
hi im wanting to know if I’ve been in my job for 2 months on the mark. Can I still be eligible for a cash loan online? if not what would my options be. I get $570week after tax
Hi Adam,
When you apply for a short-term loan, lenders will need to see the last three months of your bank statements to verify your income and financial situation. So, if you’ve only held your job for two months this may not be sufficient. However, if your statements show you to be a stable financial situation you may be eligible.
It would be best to verify with the lender you’re looking to apply with to confirm.
I hope this helps,
Elizabeth
I been trying to apply for loans about a month now ad no help. I wouldn’t ask fr it if I can’t pay it back.I need help ad everyone is terminate me please I need help to get a loan I have a bank account open with bad credit. Please help I will pay back all the money
Hi Carmilea,
Unfortunately I can’t recommend a lender to you as it depends on your individual financial situation. You can compare lenders on the page above, but if you are in need of some personal financial advice you can call 1800 007 007 to get in contact with a free financial counsellor.
Hope this helps,
Elizabeth
All I need to know is how I can get a loan as a foreigner. I need it to fund my transport business here in West Africa
Hi Isaac,
Unfortunately as an Australian financial comparison website we only offer comparisons of loans available to current residents of Australia – you’ll need to find a lender in West Africa to apply for a loan.
Sorry I couldn’t be of more assistance,
Elizabeth
Can I get a payday loan without photo ID. I lost my license and only have Medicare, bank card and birth certificate as id. I was approved but asked to provide photo id. What can I do.
Hi Lewy,
Lenders just need a way to verify your identity so will have different requirements for this. Your birth certificate may be sufficient for some lenders along with your Medicare card, etc. However, it’s best to confirm this before you apply.
You might want to ask the lender you applied with if you can provide another form of ID, or consider replacing your licence, because if you don’t take on this one and apply for another loan the first application will appear on your credit file and may affect your approval chances for the second loan.
Hope this helps,
Elizabeth
Can I get a loan for monies?
Am i able to lend 800 for my medical appointment and of food for kids and having the CEO and doctor from the epilepsy foundation and getting the money for the appointments is hard right now and won’t to get food be for school goes back and get some warm cloths for kids
Hi Shannon,
You can compare your short-term cash options using the table above and click through to the lender’s page to find out if you’re eligible. Eligibility criteria such as age, income and criteria relating to employment or Centrelink benefits (if that relates to you) will apply. Make sure you check you meet all of this criteria before submitting your application. If you don’t believe you will be able to afford the repayments, there are alternative loan options available you can consider. You can also call the free financial counselling service hotline on 1800 007 007.
Hope this has helped,
Elizabeth
All I want to no is can you lend me a $1000 because I’m getting behind on a lot of bills and I can’t get a loan of Centrelink till nex month a $1200 from Centrelink and my car is up for rego on the 30/1/2016 and I haven’t got the money I got rego inshorence and the phone bill and foxtell
Hi Tracey,
You can find a list of lenders who may consider you for a loan on this page. You may also want to consider some of the community financial assistance programs listed, including the no and low interest loans that may be able to be accessed by Good Shepherd Microfinance.
I hope this has helped.
Thanks,
Elizabeth
Hi,
Thanks for your question.
To apply for a loan please compare your options using the table above, once you’ve found the loan you want to apply for click “Go to Site” to submit your application.
Thanks,
Elizabeth