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Club Money Loan

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Club Money Loan (Up to 5K)
Maximum loan amount
Turnaround time
1 Business Day
Term of loan
Up to 12 months
Do you really need a loan today? If you would like to speak to someone about your finances you can call the free National Debt Helpline on 1800 007 007.


Apply online and you can borrow up to $5,000. Turnaround times are fast, but this loan has high fees and charges.

Club Money offers same-day loan approval for loans from $250 up to $5,000. You can choose your repayment terms, ranging from 61 days up to 1 year. Applications are online and you can get your funds within 2 hours or the same day. Their loans charge an establishment fee of 20% the total loan amount, and a 4% principal per month. For a $5,000 loan with terms up to 365 days, the total cost of your loan will be $8,400, with fortnightly repayments of $323. This loan is expensive and is not a long-term financial solution. You should only borrow in case of an emergency and if all your other avenues have been exhausted.


  • Quick and easy applicationYour choice of repayment periodsOne month interest freeBad credit applications considered25% off monthly fees for applicants with a good borrowing history


  • 20% establishment fee
  • 4% monthly fee
  • $15 payment dishonour fee if agreed payments are not made on time

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Product Details

Product Name Club Money Loan (Up to 5K)
Minimum loan amount $250
Maximum loan amount $5,000
Arrears Fee $15
Loan term Up to 12 months
Turnaround time 1 Business Day
Costs 20% of the principal + 4% of the principal amount each month
  • Be at least 18 years old
  • Be an Australian citizen
  • Earn at least $250 per week
  • Have a bank account in your own name
  • Have received at least three consecutive payments from your employer into your nominated bank account
Available to Centrelink Borrowers? No

⚠️ 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.

How does a Club Money loan work?

Club Money offers loans up to $5,000 with repayment terms up to 12 months. Applicants may be eligible for a loan even if they have bad credit. If someone has no outstanding loans and stable employment, along with a few other criteria (see the features section below), they may be eligible for 25% off their monthly fees and one month interest-free.

When someone applies for a Club Money loan, they'll generally hear back within half an hour if it's a business day, and they can get cash in hand or in their bank account within two hours.

Club Money will check the recent income and transaction history of their applicants to help work out how much they can reasonably borrow and set up a repayment schedule to suit their situation. Successful applicants' nominated bank accounts will be direct debited their repayments on chosen dates. Each applicant needs to ensure that they have sufficient funds available.

If something comes up, or a borrower's situation changes and they can't make a repayment, they should inform Club Money at least 12 hours ahead of time. If informed in time, it may waive the usual $15 missed-payment fee and help sort out an alternative schedule to get things back on track.

Features of a loan from Club Money

  • Repayment and application help. Club Money will work out a repayment strategy that best suits each customer's financial situation to make it easier for them to repay their loan. On the pre-set repayment dates, the repayment amounts will be direct debited from the nominated bank account of each loan customer.
  • Straightforward application. Loan customers can apply online 24 hours a day seven days a week by completing a simple form. On business days, applicants can get cash in hand within two hours.
  • Every application considered individually. Credit history isn’t everything and Club Money is more interested in the real situation of their borrowers rather than their credit histories. Low doc, self-employed, bad credit and good credit applicants are all considered on their own merits.
  • Discounts. Customers may be eligible for one-month interest-free and 25% off their monthly fees by meeting certain criteria. They need to have no other small amount credit contracts, have 90 days of reversal-free banking, have been employed in the same job for three months, not be a gambler and meet the usual lending criteria outlined on our website for short term loans.

What are the risks of payday loans?

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

What are the Club Money fees and repayments?

There are no hidden fees and no fine print that might multiply someone's repayments to enormous amounts. The following costs are all loan customers will need to pay:

  • Loan establishment fee. This establishment fee is 20% of the principal loan amount borrowed.
  • Monthly loan fee. Repayments include a fee of 4% of the principal loan amount each month.
  • Payment dishonour fee. If a direct-debit payment doesn’t fully go through as scheduled, or someone requests a payment to be rescheduled, they may be charged $15 on each occasion. If they get in touch with Club Money ahead of time, they may be willing to waive this fee.
  • Arrears letter fee. A $15 fee may be charged if someone's loan goes into arrears and Club Money finds it necessary to write to them about the situation.
  • Default notice. A $25 fee is applicable if Club Money finds it necessary to issue a written default notice.

How to apply for a Club Money loan

The first thing every prospective applicant should do is to consider whether a loan is the right answer for their situation. If so, they can check the eligibility criteria to see whether Club Money can help them. When applying they should make sure that they have the necessary information ready.


Applicants must meet the following criteria:

  • 18 years old or older
  • An Australian resident
  • Earning more than $250 per week
  • Have at least three consecutive payslips from their employer
  • Have a bank account in their own name

Applicants won't be eligible for a loan if:

  • Their income is from Centrelink only
  • They have more than two other small amount loans currently active
  • Their take-home pay is less than $1,000 a month and they don't have three consecutive payslips from their employer
  • Their bank statements show multiple payment reversals, or dishonoured direct debits, to other lenders in the previous 90 days.
  • Their application shows that they will not be able to afford the loan


Applicants will need the following:

  • 100 points of identification. All applicants will need identification such as a driver’s license or Medicare card in addition to their bank details.
  • Bank details. They will also need to provide some bank details. If they have an Internet connection and their bank login details handy, they can find and provide info as needed.
  • Personal details. Their name, date of birth, phone number and address are required.
  • Loan information. Each applicant will need to decide how much they would like to borrow up to $5,000 and their preferred repayment schedule. If they prefer, Club Money can help work out an affordable repayment plan based on their income and expenses.


Prospective applicants who meet the conditions can click “Go To Site” to be securely redirected to the Club Money site. Here, they can choose how much to borrow, up to $5,000, and select their repayment terms.

Prior to submitting an application, it is always a good idea to compare options carefully to find the best deal possible.

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