The Internet gatekeeper's attempt at global protection has driven up the cost of short-term loans in Australia. Read more..
Short term loans you can compare today
Compare your credit options and apply for a loan in minutes.
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.
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.
What are you looking for?
The finder.com.au payday loan comparison
Compare the features of the payday loans below.
| Payday Loan | Maximum Loan Amount | Loan Term |
|---|---|---|
| $2,000 | 10 weeks or 3 months | |
| $2,000 | 9 weeks | |
| $2,000 | 62-365 days | |
| $1,000 | 16, 22 or 32 days |
Jump to a section of this guide...
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 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.
Looking for a specific amount?
Back to top
Google’s ban on payday loan ads has made the loans more expensive
Google bans payday loan ads
Treasury releases final recommendations on Small Amount Credit Contract laws
The first insights into payday loan laws and what might be ahead
Latest news in payday loans
In a bid to protect its users from "deceptive" and "harmful" products, Google bans advertising for payday loans. Read more..
How the Government is looking to better regulate payday loans, and what it means for consumers. Read more..
From consumer leases to lenders to the small amount credit contracts themselves, we've gathered interesting data and put it into an infographic that takes you through the key insights from the government's interim report into SACC laws. Read more..
Some of the lenders we compare
What to know before you apply
A payday 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 short term loans, cash advance loans or 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% – these 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 payday loan calculator above to get an idea of your repayments (principal + fees).
A payday loan is on unsecured terms – meaning that if you can't pay it back, the lender can start legal proceedings against you.
Are payday loans actually a good idea?
Payday loans 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.
Loans designed for you
Remember it's important to compare your options and other financial avenues before applying.
What features are you looking for?
Payday loans go by a range of names in Australia – from cash advance, to short term payday loan, to emergency cash. Before you apply, compare a range of loans that might fit your needs.
How to apply for a payday loan
Payday loans differ from institutions and other lenders in their application processing and criteria. You will usually be able to apply for a payday loan 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?
Payday 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 payday 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 a 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.
Our guide on how lenders assess your payday loan application
Back to top"Payday loans near me" – Which lenders are mobile-friendly?
When it comes to applying for a payday 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.
| Lender | Mobile-friendly site? | Mobile app? | Other features? |
|---|---|---|---|
| Cash Converters |  |  | Five-minute online loan application |
| Cash Train | | | Member's area for online repeat borrowing |
| DollarsDirect | | | Live chat |
| Ferratum | | | Apply by text |
| Loan Ranger Cash | | | Upload documents by email, fax or SMS |
| Nimble | | | Receive repeat loans through a free prepaid debit card |
| Payday 24/7 | | | Easy uploading of statements with Credit Sense |
| Perfect Payday | | | Get matched with a one or many lenders |
| Sunshine Loans | | | Sign contract electronically on mobile and tablet |
Help! I don't understand this about my payday loan
What is the difference between a payday loan and a credit card cash advance?
What is the interest rate on my payday loan?
How does a payday loan affect my credit file?
Our guide to repaying your payday loan on time
Questions you've always had about payday loans, 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.
You need: | Could a payday loan help? |
| $350 for a romantic weekend |
|
| $250 for mechanical car repairs |
|
| $220 for an overdue phone bill |
|
| $575 for Christmas presents |
|
| $6300 for a second hand car |
|
| $4000 for a family holiday |
|
| $2000 for a rental bond |
|
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.
Can I pay out my payday loan early?
Many payday loan companies allow you to pay out your loan early without any extra fees associated. You will still have to pay the full amount associated with your 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?
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 payday 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 payday loan?
Before the new payday loan 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
Related reading: Learn more about unsecured business loans
If you have done your due diligence and still wish to apply for a Payday Loan, and understand the risks of borrowing, start a comparison of payday loans
Back to topAsk a Question
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
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
Hi I am looking to borrow about $800 for my partners birthday I am employed permanent casual with about 30 hours a week my problem is my boss is old school so I get a pay packet a week instead of my wage going in the bank so I don’t have a record of my wage in my bank statements can I still get a small loan ?
Thank you for your time
Mel
Hi Mel,
Thanks for your question.
Not all lenders verify your income using your bank account. Some lenders can verify this using payslips or other documents. When you click through to our reviews pages you’ll be able to see what’s required for you to be approved, when you find a lender that just requires you to earn a certain amount and to have a bank account, and not to earn that money into a bank account, you can submit your application.
I hope this has helped.
Thanks,
Elizabeth
I am an aged pensioner and need a short term loan to travel to my brothers funeral in a few days time is this possible please
Hi Frances,
Thanks for your question.
You can use this page to compare your short-term loan options. To see the eligibility criteria just click through to the review page by clicking on the name of the loan. Once you’re ready to apply, just click ‘Go to Site’.
I hope this has helped.
Thanks,
Elizabeth
hi, i need some money for a 21st birthday party, but have bad credit, do you think there is someone out there willing to lend me a short term loan?
Hi Jo,
Thanks for your enquiry.
Please note that lenders have different eligibility when reviewing applicants with bad credit. However, on this page you can compare a range of lenders that offer personal loans for individuals that have a bad credit score.
Just be wary of the higher interest rates that are generally charged with these short-term personal loans.
Thanks,
Belinda
Hi i need a loan as soon as possible for bond of $600, and my drivers license is expired. but every loan i apply for is asking for drivers license. i dont know what to do, i just need the money fast for bond. can someone please help.
Are your esteemed services available in India too?
Hi Kael,
Unfortunately we only offer a comparison of Australian lenders currently. You might want to try lenders in India for short-term loans.
Sorry I couldn’t be of more help.
Thanks,
Elizabeth
Hi Kiah,
Thanks for your question.
Lenders need to be able to verify your identity with a valid form of ID, whether this be a drivers licence, passport or proof of age card. You can click through to the review pages by clicking on the title of the loans in the table above and see what documents are required.
I hope this has helped.
Thanks,
Elizabeth
I need to borrow 5400
Hi Lane,
Thanks for your question.
Please note finder.com.au is a financial comparison service and as such we don’t actually offer the loans ourselves. Not many lenders offer such a large loan amount, but you can find out more of your options on this page. Another lender you can consider that isn’t offered on that page can be found here.
When you find a loan you want to apply for, just click ‘Go to Site’.
I hope this will help.
Thanks,
Elizabeth