Payday loans | 0% to 20% establishment fees | Borrow $150 to $5,000

Payday loans

Payday loans can be helpful when you need cash fast but can be expensive when compared to other loans.

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Short term cash loans, also known as payday loans, are a type of personal finance generally borrowed on terms of between 16 days and 1 year. They are a high cost form of loan, and should therefore only generally be used in the case of financial emergencies.

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

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.

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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

Short term loans you can compare today

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
$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.
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. Centrelink borrowers are considered as long as Centrelink payments are not more than 50% of income.
Nimble Short Term Loan
$2,000
62 days to 9 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$372
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
$5,000
22 - 52 weeks
Same day - conditions apply
$35
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
$396
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
$2,000
3-12 months
24 to 48 hours
$35
0% Establishment Fee + monthly fee 4%
$354
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.
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.
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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. To compare lenders you can click on the column headings to sort the table according to what you want and need.
  • Click through to the review page. You can read a detailed review of the loan before you apply by clicking on the name of the loan. There you'll find out the fees, features and restrictions that are included, plus other important details.
  • Find the necessary information. If you are looking for specific information on loans, we might already have a guide for your needs on Finder. You 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 you can navigate to help you find what you need faster. You can find loan types such as Centrelink loans, loans for unemployed people or instant cash loans.

What are you looking for?

A fast payday loan might be helpful when you're in need of quick cash to pay for unexpected bills or expenses. But they can be 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. Interest rates, late payment and default 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 that it has 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 rating, 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

Compare payday loans and product features below.

Short term lenderMaximum loan amountLoan termFind out more
Fair Go Finance Small Loan$2,0003-12 months
Sunshine Short Term Loans$2,0009-14 weeks
Nimble Short Term Loan$2,00062 days to 9 months
Ferratum Cash Loans$1,9003 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?

Payday loan rates and fees explained

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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?
The amount you borrow from the lender is referred to as the "principal amount". Before deciding on a principal amount, you should ensure you 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 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.

What if I can't repay the loan?

If you don't make repayments on time you will be charged a fee. Any defaults on the loan will also be listed as a negative mark on your 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, contact the lender to discuss what your options are.

When comparing loans you should only apply for as much as you can repay and ensure your 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.

Payday loans aren't your only option. Make sure to compare payday loan alternatives before applying.

Short term loans to suit your situation

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

You 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 you will need to meet may include:

Eligibility criteria

  • Be 18 years of age or older
  • Earn a regular 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 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.

Am I eligible for a payday loan if...

Our guide on how lenders assess your payday loan application

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Learn more about payday loans

100-dollars
What is the difference between a payday loan and a credit card cash advance?

Find out more

high-interest
What is the interest rate on my payday loan?

Find my rate

your credit score
How does a payday loan affect my credit file?

Find out how

Our guide to repaying your payday loan on time

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 application 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 you should compare your 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 that 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 your bank statements. Bank details and login information aren't stored.

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.

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

    Default Gravatar
    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?

      Avatarfinder 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

    Default Gravatar
    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

      Default Gravatar
      NikkiMarch 20, 2019

      Hi Vida,

      Thanks for getting in touch! For loan options while on Centrelink, you may refer to our comparison table. 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

    Default Gravatar
    VickyMarch 4, 2019

    Just wondering if I can get loan

      Avatarfinder 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

    Default Gravatar
    MaryFebruary 20, 2019

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

      Default Gravatar
      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

    Default Gravatar
    PalamoSeptember 17, 2018

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

      Avatarfinder 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

    Default Gravatar
    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?

      Avatarfinder Customer Care
      HaroldSeptember 12, 2017Staff

      Hi Karen,

      Thank you for your inquiry.

      Our No Credit Check Personal Loans has a list of small loans that don’t require a credit check. On the page, is a comparison table you can use to see which lenders suit you. 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 information has helped.

      Cheers,
      Harold

    Default Gravatar
    joshJuly 26, 2017

    Do you have a business loan?

      Avatarfinder Customer Care
      HaroldJuly 26, 2017Staff

      Hi Josh,

      Thank you for your inquiry.

      Please feel free to check our list of business loans and find the right one for you.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    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

      Default Gravatar
      DanielleJuly 23, 2017

      Hi Gaertner,

      Please check our list of car loans and see which loan may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by selecting the “Go to Site” button.

      I hope this helps.

      Cheers,
      Danielle

    Default Gravatar
    RhysNovember 18, 2016

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

      Avatarfinder 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 security? If so, you may check the list of secured personal loans featured on our website. You can then check your eligibility and compare your options for a loan and discuss your chances of approval and options with a lender.

      Hope this has helped.

      Cheers,
      May

    Default Gravatar
    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

      Avatarfinder Customer Care
      DeeNovember 15, 2016Staff

      Hi Jack,

      Thanks for reaching out.

      If you’re getting paid in cash, we have payday loans for cash pay featured on our website. This should help you find lenders who can help with your borrowing needs.

      Cheers,
      Anndy

Go to site
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