Needy Money Loans
Needy Money offer loans to suit a variety of financial needs
- Needy Money have rebranded to nmoni. nmoni no longer offer short term loans. The information on this page has been kept for the benefit of those who are interested and historical records only.
The type of loans Needy Money provide
This loan type can be used for short-term financial emergencies or unexpected expenses. Loans from $100 to $5,000 are available in this category and repayment schedules can vary from 16 days to 1 year(s).
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.
These loans can be useful for those changing residence. During the time in which a person's current home is waiting for a settlement, a bridging loan can be obtained to secure the new property and "bridge" the gap. A possible advantage of a bridging loan from Needy Money is that customers are not restricted to using the cash for buying another property. Borrowers can use this money for any purpose they want.
These loans are available to buy new equipment or add resources or staff in a person's business. The repayment schedule is aligned with the cash flow of the business to make repayments more affordable.
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 on offer
Wide range of products
Needy Money's 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 a borrower 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. Customers can pay weekly, fortnightly or monthly depending on their pay cycle. The available term is from 16 days to 5 years.
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 might be useful.
Bad credit applicants consideredNeedy Money welcomes customers with all credit scores. They look at each applicants current financial situation and their ability to repay. This allows those with adverse credit histories to apply.
How much will it cost to borrow from Needy Money?
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.
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 MoneyNeedy 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.
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