Need Money? There's a lender for that.
It can be easy to get overwhelmed by our financial circumstance, and during this time it's good to have an alternative where you can seek financial assistance. Needy Money is a lender that offers a range of loans, from short-term loans to commercial borrowing. These loans are provided with flexible repayment schedules and terms, giving you the means to manage your loan. Needy Money provides loans for those with good and bad credit histories and offer quick turnaround. After approval of your loan, cash is transferred through electronic transfer or cheque or it can be collected personally over the counter.
The type of loans Needy Money provide
- Unsecured loans. This loan type can be used for short-term financial emergencoes or unsexpected expenses. Loans from $100 to $5,000 are available in this category and repayment schedules can vary from 16 days to 1 year(s).
- Personal loans. Customers can access loans from $5,001 to $100,000. This loan can be used for any expense, from a new car to home renovation or an overseas holiday. Repayment can be made weekly, fortnightly or monthly according to your pay cycle. The total repayment time varies from 1 year to 5 years.
- Bridging loans. These loans are very useful if you're is changing residence. During the time in which your current home is waiting for a settlement, a bridge loan can be obtained. An added advantage of a bridge loan from Needy Money is that you're not restricted to using the cash for buying another property. Borrowers can use this money for any purpose they want.
- Commercial loans. These loans are available to get new equipment or add resources or staff in your business. The repayment schedule is aligned with the cash flow of the business to make repayments affordable.
- Cheque cashing. This facility provides instant cash for cheques and eliminates the extra three days of waiting time normally required for a cheque to clear. Customers need to bring requisite ID. Cheques accepted by Needy Money are government cheques, tax refund, bank cheque, wage cheque, insurance cheque and more.
Needy Money and the benefits on offer
- Wide range of products. The loans are available from a small sum of $100 up to higher loans up to $100,000. This wide range can provide cover for almost every expense that you might come across. Customers can take a loan to tide over small financial shortfalls, for emergency medical expenses, car expenses, home repairs, or even holidays.
- Flexible repayment schedule. The repayment schedule has been tailored according to the needs of the borrowers. You can pay weekly, fortnightly or monthly depending on your pay cycle. The available term is from 16 days to 5 year(s).
- Quick processing. The processing time for these loans is less than one hour, which allows for fast cash availability. For customers who are hard pressed for cash this can be very useful.
- Bad credit considered. Needy Money welcomes customers with all credit scores. They look at your current repayment ability, allowing those with adverse credit histories to apply.
How much will it cost you to borrow?
The overall cost for the loan varies according to customer’s assets and repayment ability. However all lenders, including Needy Money, have to abide by total interest cap. Lenders can charge a maximum of 4% monthly fees and a 20% establishment fee on loans under $2,000. When you submit your application for Needy Money you can submit a repayment amount that you'll be able to afford.
Are Needy Money loans safe?
Needy Money is registered with an Australian Credit Licence Number and display their contact details on their website. The interest cap and fee cap which are stated by the government limits the overall cost of the loans from Needy Money. However customers should still evaluate their financial situation prudently and only apply for that are absolutely essential.
How to apply for a payday loan from Needy Money
Needy Money has a quick application processing system. If this loan suits your requirement you can apply conveniently online, but make sure you meet the eligibility criteria:
- Age. You must be at least 18 years of age.
- Citizen. You need to be an Australian citizen or be a permanent resident of Australia.
- Income. Your primary source of income cannot be from Centrelink.
- If you are bankrupt or under a Part 9 Debt Agreement, you cannot have entered into this in the previous 12 months.
When you apply, you'll have to submit certain details regarding your finances and personal information. Have the following handy if you're looking to apply:
- Personal details like your name, contact information, how many dependants you have and your residential status
- Your address, the length of time you've resided there and how much your rent/mortgage repayments are
- Your banking details
- Financial details including your income, loan repayments, expenses and assets
Frequently asked questions
How long will it take me to receive my loan?
After the online application is made, Needy Money will assess the application and applicants will be contacted within 60 minutes about the outcome. If approved, a contract is sent to the borrower via email. Once the contract is accepted Needy Money can provide the loans quickly through electronic transfer or cheque. Customers can also use the option of getting cash over the counter.
How long will my repayment schedule be?
Needy Money provides a flexible schedule whereby customers can choose a shorter duration for small loans and a longer term repayment, up to two years, for larger loans.
Will my application be refused if I have bad credit score?
No, customers are not refused loans solely on the basis of their credit score. Needy Money accepts applicants with good and bad credit scores and loans according to the repayment ability of the applicant.