Compare short term cash loans

Make an informed decision when comparing and applying for a short term payday loan.

Use this guide to compare payday loans, also known as short term cash loans, and learn about the rates and fees to decide if it's the right choice for you.

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: https://www.finder.com.au/coronavirus-financial-help

⚠️ Warning about Borrowing

Do 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.

Loan types that might suit your needs
Loan application guide
How much does the loan cost?
Frequently asked questions

Promoted

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
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Bad credit applicants considered
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Borrow up to $2,000

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Short term loans you can compare today

Name	Maximum loan amount	Term of Loan	Turnaround time	Arrears Fee	Costs	Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans	$2,000	9-14 weeks	30 minutes - conditions apply	$35	20% of loan amount + 4% of loan amount each month	$396	A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.	Go to site More Info	Compare	loading Fetching your data...
Safe Financial Small Loan	$5,000	22 - 52 weeks	Same day - conditions apply	$35	Up to $2,000 - 20% establishment fee + 4% monthly. Above $2,000 - $400 + from 8.7% to 48% APR	$396	Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.	Go to site More Info	Compare	loading Fetching your data...
Credit24 Short Term Loan	$2,000	6-12 months	Same day - conditions apply	$10	20% of loan amount establishment fee + 4% of loan amount monthly.	$396	Credit24 offers this loan up to $2,000 and gives you 12 months to repay.	Go to site More Info	Compare	loading Fetching your data...
Fair Go Finance Small Loan	$2,000	3-12 months	1 business day	$35	Establishment fee from 20% of loan amount + monthly fee from 4%	$354	A small loan between $500 and $2,000 that can be funded in 24 hours.	Go to site More Info	Compare	loading Fetching your data...
Ferratum Cash Loans	$1,900	3 to 12 months	Same day - conditions apply	$55	20% of borrowed amount + 4% of borrowed amount each month	$396	Borrow what you need with loans starting from $500 and approval in minutes.	Go to site More Info	Compare	loading Fetching your data...
Speckle Small Loan	$2,000	3 to 12 months	1 business day	$5	10% of loan amount + 2% of loan amount each month	$348	A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.	Go to site More Info	Compare	loading Fetching your data...

Compare up to 4 providers

Compare lenders and loans in the table above. Consider the loan amounts on offer, the length of the repayment term, how much will need to be repaid fortnightly and any fees that will apply. It's important to check the eligibility requirements and turnaround time to receive the loan as well. If you've compared your options and confirmed that you meet the eligibility criteria, you can begin your application by clicking "Go to site".

4 quick tips for making comparisons

Sort the table. Prospective loan customers can click on the column headings to sort the table according to what they want and need.
Click through to the review page. By clicking on the name of the loan, people looking for payday loans can read a detailed review of the loan before they apply. There they can find out the fees, features and restrictions that are included, plus other important details.
Find the necessary information. If someone is looking for specific information on loans, we might already have a guide for their needs on finder.com.au. Loan customers can look through the guides section in the left-hand navigation, or use the search function at the top of the page.
Browse the loan types. There are a number of loan types at the top of this page on the left-hand side that customers can navigate to help them find what they need faster. They can find loan types such as Centrelink loans, loans for unemployed people or instant cash loans.

What are you looking for?

Payday loans are expensive forms of credit and shouldn't be used to fix long-term financial issues. They should also not be used to cover day-to-day expenses (unless absolutely necessary) or buy a big-ticket item such as a car. People should avoid payday loans if it will put their budget under strain, as late fees for payday loans can build up quickly and result in debt.

What are the risks of payday loans?

Unaffordable repayments. Payday loans are an expensive way to borrow money. Check the size of each repayment and ensure you will be able to pay on time. If you can't afford the repayments then you will end up paying late fees that will only make your financial situation worse.
High rates and fees. Rates and fees on payday loans are high. Make sure your lender is not charging you more than ASIC allows and check what you would be charged if you are late on a payment or if you can't pay back the loan altogether.
Be careful who you borrow from. All the companies listed on our tables are accredited by ASIC. If you are thinking about taking a loan from a company not on our tables, 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 some lenders might not consider credit history, applying for lots of loans in a short period can have a negative impact on your credit score. Building up a good credit score is important as it will help you to get better deals on financial products in the future.

Compare short term loans in Australia

Lender	Max loan amount	Loan term
Fair Go Finance Small Loan	$2,000	3-12 months
Sunshine Short Term Loans	$2,000	3-12 months
Nimble Short Term Loan	$2,000	62 days to 3 months
Ferratum Cash Loans	$1,900	3 to 12 months

The Finder short term loan comparison

Compare payday loans and product features below.

Short term lender	Maximum loan amount	Loan term
Fair Go Finance Small Loan	$2,000	3-12 months
Sunshine Short Term Loans	$2,000	9-14 weeks
Nimble Short Term Loan	$2,000	62 days to 3 months
Ferratum Cash Loans	$1,900	3 to 12 months

How much do you want to borrow?

^{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 on 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 on the following assumptions: fees do not change for the life of the loan, 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.}

Looking for a specific loan amount?

Up to $1,000

A $1,000 loan may be suitable for your short-term needs. Compare a range of loans here.

Up to $5,000

Even with bad credit history, you could still borrow up to $5,000 if you meet the specific criteria.

Up to $10,000

If you need a larger loan amount, there are lenders offering up to $10,000, even if you have bad credit.

Payday loan rates and fees explained

Hi I'm Elizabeth, personal loans editor at finder.com.au. If you're thinking about applying for a short term loan one of your main concerns is going to be the cost. We're going to break down those costs so you can decide if these loans will work with your budget. Short term loans are one of the most strictly regulated loans available and because of this lenders are restricted as to how much they can charge. The credit regulator ASIC has made it so that lenders offering loans of less than $2,000 with terms of between 16 days and 1 year can only charge fees and not interest rates. That's right, these loans actually come with no interest. The reason people think that interest is charged on short term loans is that the fees are expressed as percentages. So let's look at these fees. The first fee that you need to consider is the establishment fee. Lenders cannot charge you more than 20% of what you borrow for this fee. The second main fee you need to consider is the monthly fee. Lenders cannot charge you more than 4% for this fee. Remember that these restrictions only apply to loans of less than $2,000 with terms of between 16 days and 1 year. If you're borrowing more, different restrictions will apply. Now you know how much you can be charged, let's look at an example. Let's say I take out a loan of $500 with terms of 62 days, which is a pretty standard loan term offered by short-term lenders. In total I will repay $660. This includes my original loan amount of $500, my establishment fee which equals $100 and 3 monthly fees of $20 each. So now you know how much short-term lenders are able to charge and how to work out how much you will pay when you take out one of these loans. Remember though that not every lender will charge you the maximum allowable fees, so compare your options before you apply. To find out more about short term loans and how to compare them head on over to finder.com.au

What is a short term loan?

A short term loan or "payday loan" is a form of credit that must be repaid in less than 12 months. The term of the loan will vary, but can sometimes be as short as 62 days or as long as 12 months. Customers are usually required to make repayments in line with when they're paid (such as fortnightly), hence the term "payday loan".

People can apply for loan amounts up to $2,000, which come with fixed fees that are regulated by the government body ASIC. Fees consist of a 20% loan establishment fee and a monthly loan fee of 4%, which are calculated based on your principal. Most payday loan lenders will charge the maximum possible capped fees. However, some lenders may have more affordable options, so it's important to compare payday loans prior to submitting an application.

What is loan principal?
How much an applicant can borrow from the lender is referred to as the "principal amount". Before deciding on a principal amount, people should ensure they have the available funds to pay back the loan on the due date including any fees and charges. Use the calculator above to get an idea of the repayments (principal + fees). A short term loan is unsecured, so if a customer 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.

What if I can't repay the loan?

If a customer doesn't make repayments on time they will be charged a fee. Any defaults on the loan will also be listed as a negative mark on the customer's credit report and can remain there for as long as seven years. If you already have a loan and you don't think you can make a repayment, see Finder's guide for tips on what to do next.

People who are comparing loans should only apply for as much as they can repay and ensure their budget aligns with the repayments. If you have any doubts about your ability to meet repayments, consider other options and don't apply for the loan.

Short term loans to suit your situation

Single parents

Just because you receive Family Tax Benefit or Centrelink payments, it shouldn't stop you from getting a loan. Find out here.

Students

Need new textbooks but you haven't been paid yet? Compare your options here for a short term loan.

Self-employed

If you can prove that you have a steady income and can service the repayments, you could be eligible.

Short term loans

Cash advances or short term loans are loans for a short-term solution to a cash flow problem.

Bad credit loans

If you need a larger amount for a short term loan, you could apply for a bad credit personal loan.

Internet loans

Time poor? Consider an online loan. No paperwork is required and you can have funds in 24 hours.

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.

How to apply for a short term loan

People can apply for a payday loan online and will need to meet the eligibility requirements to be approved. The applications can usually be completed online. The exact eligibility criteria will depend on the loan and lender, but the requirements and documents an applicant will need to meet may include:

Eligibility criteria

Be 18 years of age or older
Earn a minimum income, usually around $350 a week
Be employed, receive an income or government benefits
Receive less than half of your income from benefits
Get paid frequently into your bank account (not in cash) either daily, weekly or monthly
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

Driver's licence (or proof of ID card)
Medicare number
Three recent payslips
Your Internet banking details
Utility bill such as council rates, electricity, gas, Foxtel/Austar, mobile phone or Internet

How much will a payday loan cost?

Lenders who try to charge you more than these fees are breaking the law.

- - 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're charged for the loan and comprises the monthly account fee and establishment fee.
- - 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.
Along with establishment and monthly fees, a customer may be charged fees in the following situations:
- - Late payment. Customers will be charged a late payment fee if they fail to make a repayment on time and don't inform the lender beforehand.
    Arrears. A fee will apply if the account goes into arrears.
    Collection. Any loans which are referred to collections or are defaulted on may incur additional fees.
    Collection letter send-out. A lender may charge a fee if they have to send a collection letter because the customer has made a late repayment.
    Statement fee. Some lenders may charge a fee for issuing a paper statement.
Since 2012, payday loans have had tighter restrictions and regulations under government reforms that capped fees and charges – no interest is charged. If you're borrowing 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. 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 payday loans, you could read our frequently asked questions guide. By law, payday companies are not allowed to include any reference to 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.

Am I eligible for a payday loan if...

Our guide on how lenders assess your payday loan application

Learn more about payday loans

Frequently asked questions about payday loans

What can I use payday loans for?

Payday loans can be used for a wide range of purposes, but are generally for unexpected expenses. Common uses for payday loans include forgotten bills, car repairs or medical expenses.

How much can I borrow?

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.

I've never taken out a payday loan before. What do I do?

If this is your first time taking out a payday loan, it's important to understand the process before you apply. The entire application will take place online, so make sure you have all your personal documents and financial details handy. You'll need to compare things like minimum income, employment terms, Centrelink eligibility and whether the lender does a credit check. You can also get an idea of the repayments using the tables above.

Each lender is different so ensure you read each step before continuing. Make a note of the terms and the repayment amounts (and dates) and ensure you will have enough to repay your loan.

If you need any assistance, once you've clicked "Go to site" the lender will be able to answer questions you may have, or you can start an application.

Are payday loans a bad idea?

Payday loans are an expensive form of credit and people should compare their options as well as research any rates, fees and conditions before applying. While payday loans are heavily regulated by ASIC, it's important to remember they are costly and you shouldn't apply if there are alternatives available to you. Before you apply, 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.

Can I pay out my payday loan early?

Many payday lenders allow customers to pay their loan early without any extra fees associated. However, customers will still need to pay the full amount associated with the credit contract. Contact your payday loan credit provider if you need to organise an early payment.

Can I get my loan deducted from my pay?

The majority of lenders will direct debit your account on the day you get paid but will not deduct the repayment amount directly from your pay.

How quickly will I get my cash advance money transferred?

Most payday lenders will assess an application and give a response within 60 seconds. However, it may take longer if the lender requires further supporting evidence including proof of income or employment via bank statements or payslips. If approved, customers can usually expect the funds in the nominated account within one to two business days.

Under government law, all small amount credit providers must check 90 days' worth of your bank statements. This is to 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 the customer's bank statements. Bank details and login information aren't stored.

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.

I am struggling with repayments. Can I renew my payday loan?

In line with Australian government regulations, you can not renew or roll over your loan. If you want to take out 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 bad idea to keep taking out payday loans?

If you make all of your repayments on time then a lender may approve you for another loan. Some lenders have benefits for repeat borrowers such as increased borrowing amounts and quicker funding. However, these loans are not a long-term solution and if you need to borrow money frequently, you may want to reassess your expenses or consider a more stable line of credit.

How do I know if 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 loan applications are generally carried out on a secure online application form to help protect the applicant's privacy. These systems use a 128-bit secure server and SSL encryption to ensure personal information cannot be stolen. To verify the applicant's income, payday lenders will need a snapshot of your account for the past 90 days. These services are secure and they only provide a "read-only" view of your account.

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've recently changed bank accounts, you can contact your old bank to request the bank statements that you require.

Where in Australia can I get a payday loan?

Use the map below to find a lender based on your location.

Related reading: Learn more about unsecured business loans

If you've done the research and ensured you're eligible to apply for a short term loan, you can start comparing payday loans.

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89 Responses

DaveApril 27, 2019

I have bad credit. I only need a $500 loan fast approval 100% guaranteed. Where can I go? Who will lend to me first application?

Reply
- finder Customer Care
  
  JoshuaApril 28, 2019Staff
  
  Hi Dave,
  
  Thanks for getting in touch with Finder. I hope all is well with you.
  
  If you want to make sure that you get a loan fast, you would need to make sure as well that you meet the eligibility requirements of the specific loan you are applying for. As of now, there’s no 100% guaranteed loan that you can get because the approval would depend on your ability to provide needed documents.
  
  As of now, what I can suggest is for you to check your options above. Use our table to compare your options based on maximum loan amount, turnaround time, and others. You can then click on the “Go to site” green button of your chosen lender to learn more. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.
  
  I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
  
  Have a wonderful day!
  
  Cheers,
  Joshua
  
  Reply
VidaMarch 19, 2019

Hi
Im looking for small fast loan for one months
Im not working at the moment and i get centerlink income
I dont know what can i do.?
Thanks

Reply
- NikkiMarch 20, 2019
  
  Hi Vida,
  
  Thanks for getting in touch! For loan options while on Centrelink – you can review this page. It shows a list of short term credit options and banks that may accept your application while unemployed. You can also use the calculator on the page to calculate your borrowing ability. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
  
  Hope this was helpful. Don’t hesitate to message us back if you have more questions.
  
  Best,
  Nikki
  
  Reply
VickyMarch 4, 2019

Just wondering if I can get loan

Reply
- finder Customer Care
  
  ValMarch 5, 2019Staff
  
  Hi Vicky,
  
  Thank you for leaving a question. If this is your first time taking out a payday loan, it’s important to understand the process before you apply. The entire application will take place online, so make sure you have all your personal documents and financial details handy. You’ll need to compare things like minimum income, employment terms, Centrelink eligibility and whether the lender does a credit check. You can also get an idea of the repayments using the tables given on the page.
  
  Once you’ve compared your options you can click “Go to Site” to head to the lender to start your application.
  
  Each lender is different so ensure you read each step before continuing. Make a note of the terms and the repayment amounts (and dates) and ensure you will have enough to repay your loan.
  
  If you need any assistance, once you’ve clicked “Go to Site” the lender will be able to answer questions you may have.
  
  Hope this helps!
  
  Cheers,
  Val
  
  Reply
MaryFebruary 20, 2019

I would like to get a loan for today to payoff my debt

Reply
- NikkiFebruary 21, 2019
  
  Hi Mary,
  
  Thanks for getting in touch! It’s helpful to know that our page doesn’t facilitate any online loan applications. To apply for a loan today, check out the calculator to start to find out your repayments for the loan. Choose the provider as listed on the page and click the GO TO SITE to be redirected to their page to get started on the application. As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy. Hope this helps!
  
  Best,
  Nikki
  
  Reply
PalamoSeptember 17, 2018

Just wondering if there any chance I can get a loan, please?

Reply
- finder Customer Care
  
  JhezSeptember 17, 2018Staff
  
  Hello Palamo,
  
  Thank you for your comment.
  
  As long as you meet the eligibility requirements and has the capacity to repay a loan, you may be eligible to get a loan. Please contact the lender and see your eligibility before submitting an application.
  
  Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
  
  Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
  
  Regards,
  Jhezelyn
  
  Reply
KazSeptember 12, 2017

Hi there, just enquiring about which lender for a small cash loan, (no credit checks) & either 6 or 12 months to pay?

Reply
- finder Customer Care
  
  HaroldSeptember 12, 2017Staff
  
  Hi Karen,
  
  Thank you for your inquiry.
  
  We don’t currently compare any low-doc personal loans. If you’re self-employed and considering a personal loan, compare your options here.
  
  I hope this information has helped.
  
  Cheers,
  Harold
  
  Reply
joshJuly 26, 2017

Do you have a business loan?

Reply
- finder Customer Care
  
  HaroldJuly 26, 2017Staff
  
  Hi Josh,
  
  Thank you for your inquiry.
  
  Should you need a list of lenders that offers a business loan you may consider the available options here.
  
  I hope this information has helped.
  
  Cheers,
  Harold
  
  Reply
MrJuly 23, 2017

Hello I am just wondering what would be the best loan for me to try and get to purchase a car for $3500 but is worth $8000 but I am a single father of A 8 month old baby so I am on single parent payment and I am also a ex bankrupt from 2011

Reply
- DanielleJuly 23, 2017
  
  Hi Gaertner,
  
  Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
  
  You may refer to this page for options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.
  
  I hope this helps.
  
  Cheers,
  Danielle
  
  Reply
RhysNovember 18, 2016

How can I get a loan against my car I own?

Reply
- finder Customer Care
  
  MayNovember 18, 2016Staff
  
  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
  
  Reply
JackNovember 15, 2016

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

Reply
- finder Customer Care
  
  DeeNovember 15, 2016Staff
  
  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
  
  Reply

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