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Rapid Loans Fast Cash Loan
Maximum loan amount
$10,000
Turnaround time
Next Business Day
Term of loan
-
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.

Summary

This loan is open to bad credit applicants, allowing you to borrow up to $10,000. Interest rates and fees are high.

If your credit history is less-than-perfect and you're looking for a personal loan, Rapid Finance offers personal loans up to $10,000, or more. The eligibility criteria for this loan is flexible and you can apply even if you have lower documentation or unpaid credit card debts and defaults. This loan is expensive, with interest rates ranging from 12% to 36% p.a. Loan terms range from 1 to 7 years, with a weekly, fortnightly or monthly payment frequency. As this loan is expensive, you should only borrow in case of an emergency. This is not a long-term financial solution and could lead to further debt.

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name Rapid Loans Fast Cash Loan
Minimum loan amount $2,000
Maximum loan amount $10,000
Loan term -
Turnaround time Next Business Day
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.

Compare other personal loans

Whilst we don't compare Rapid Loans Bad Credit Personal Loan directly, here are some other loans that are similar.

1 - 6 of 6
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
$3,000
12-20 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $3,000 that you repay over 12-20 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Fair Go Finance Small Loan
$2,000
3 to 12 months
24 to 48 hours
$35
Establishment Fee of $60 – $400
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
Nimble Small Loan
$2,000
62 days to 9 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$396
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Credit24 Short Term Loan
$2,000
4 to 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.
Credit24 Medium Term Loan (Good Credit)
$5,000
12 to 24 months
Same day
$10
$400 establishment fee + 48% p.a. interest
A small loan with long terms: Apply for up to $5,000 and have up to 2 years to repay.
Fair Go Finance Medium Personal Loan
$5,000
7 to 19 months
Within 24 hours
$35
Establishment fee of $437 to $771
A larger loan up to $5,000 you can apply for even with bad credit. Fast turnaround within 1 business day. Note: You must earn more than $500 per week.
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What should you consider about a loan from Rapid Loans?

Having negative marks on your credit file can make it difficult to access finance, but institutions like Rapid Finance can help you find a suitable loan if you have paid or unpaid defaults, discharged bankruptcies, or no financials, and you can also apply for one of its loans if you're self-employed.
You can use a loan from Rapid Finance loan for a range of personal needs, such as purchasing a new car or motorbike. Rapid Finance considers your loan application and works to offer you a tailored solution. Find out if its loan is right for you by reading more about it below.

Five important features of a bad credit loan from Rapid Loans

Rapid Finance’s bad credit personal loans come with a number of features, which comprise of the following:

  • Additional repayments. You can make extra repayments towards your Rapid Finance bad credit personal loan without worrying about paying any penalties. This allows you to pay your loan off sooner and save on interest.
  • Free assessment. You don’t pay any fees for the initial assessment, and you can expect to get a response in a matter of minutes.
  • One point of contact. If you choose to get a bad credit personal loan through Rapid Finance you won’t have to worry about discussing your situation with a new representative each time. This is because a single Rapid Finance specialist looks after your loan requirements from start to finish.
  • Multiple lender options. Rapid Finance works with a number of lenders across Australia and finds one for you after taking your requirements into account. Some of the lenders Rapid Finance works with include Latitude Financial Services, Macquarie, Bankwest, Suncorp, RACV, and Esanda.
  • Repayment flexibility. You can choose to make repayments in accordance with your pay cycle, which can be weekly, fortnightly, or monthly. You get to select this during the application process.

Are you eligible for this loan?

You can apply for a bad credit loan through Rapid Finance if you meet certain eligibility criteria. You should be over 18 years old, a permanent Australian resident and have a regular source of income. You can apply if you have poor credit history or if you don't have financial documentation. You can also apply if you’re self-employed.

How much does the loan cost?

After conducting its initial assessment, Rapid Finance will establish if it can provide financial assistance to you. Until this point, you don’t have to pay any fees. If you decide against proceeding after the approval of your loan, you might have to pay a fee for using Rapid Finance’s services depending on the kind of loan you choose. You get a comprehensive list of all associated fees and charges as part of the quote.

How to apply for a Rapid Loans Bad Credit Personal Loan

You can submit your application online, or speak to a Rapid Finance specialist over the phone. Establish that you meet the following eligibility criteria before you take the next step:

  • You’re at least 18 years old
  • You are a permanent resident of Australia
  • You have a regular source of income

As part of the application process, you have to provide different kinds of information, which includes the following:

  • Details of your Australian driver’s license
  • Residential details
  • Employment information
  • Copies of your last two payslips
  • Details of your monthly expenses
  • Details of all existing liabilities including loans, credit cards, and overdrafts

Individuals with poor credit can consider applying for a Rapid Finance bad credit personal loan, as there are other institutions that provide bad credit loans, compare a few before narrowing down on a suitable one.

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Elizabeth Finder

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james

November 19, 2018

Would need a loan for $2000 but am currently bankrupt any help please


Avatar

Nikki Angco

November 19, 2018

Hi James,


Thanks for reaching out to us about your situation. It’s definitely not the end of the road here and you can find options as some lenders consider applicants if they’ve been discharged from bankruptcy or are currently bankrupt. However, please note that the fees and rates will be considerably higher on bankrupt loans. Please refer to our list of bankrupt loans to compare lenders that consider you for a loan.


You can click the name of the lender to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. 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.


Hope this was helpful. Don’t hesitate to message us back if you have more questions.


Best,

Nikki


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Lorraine

October 08, 2018

Am I eligible to apply for a loan


Avatar

Joel Marcelo

October 09, 2018

Hi Lorraine,


Thanks for leaving a question on Finder.


You can apply for a bad credit loan through Rapid Finance if you meet their eligibility criteria. You should be over 18 years old, a permanent Australian resident and have a regular source of income. You can apply if you have poor credit history or if you don’t have financial documentation. You can also apply if you’re self-employed.


If you would like to weigh your options for short-term loans, you can use our comparison table to help you find the lender that suits 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.


Please send me a message if you need anything else. :)


Cheers,

Joel


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Joe

August 16, 2018

I’m currently bankrupt and need a small loan of $2000 ASAP for a family funeral, I’m employed full time and need help In were can I find the loan catered for my situation.


Avatar

Joel Marcelo

August 17, 2018

Hi Joe,


Thanks for leaving a question on Finder.


Sorry to hear about that. You can apply for a bad credit loan through Rapid Finance and may get $2000 if you meet certain eligibility criteria. You should be over 18 years old, a permanent Australian resident, and have a regular source of income. You can apply if you have a poor credit history or if you don’t have financial documentation. You can also apply if you’re self-employed.


If you would like to see a comparison of lenders who can help you even if you bad credit, please refer to our list of bad credit payday loans. You can click the “Go to site” button of your preferred lender when you are ready to apply. Good luck!


Cheers,

Joel


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minoli

June 06, 2016

HI,I’M A SINGLE MUM ON CENTRELINK ALSO JUST STARTED MORTGAGE BROKING BUT HAVEN’T STARTED GETTING A INCOME FROM THAT YET. I ALSO WORK AS A CLEANER FOR A AGENCY AND GET CASH IN HAND EVERY DAY FROM CLIENTS. I NEED A $10,000 LOAN BUT MY CREDIT IS NOT THAT GREAT. CAN YOU HELP?


Avatar

Elizabeth Barry Finder

June 07, 2016

Hi Minoli,


You’ve come through to finder.com.au, a financial comparison website and not Rapid Finance. To be eligible for a Rapid Finance loan you need to be eligible to be able to demonstrate you will be able to manage your repayments. As you haven’t earnt an income from your mortgage broking job you may only be able to use your cleaning job as your employment, but Rapid Finance will be able to provide more information.


You can get a free finance assessment by filling out a form on its website.


I hope this has helped,


Elizabeth


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Ann

March 10, 2016

Can you tell me if i apply for a loan with rapid finance will it go on my credit history


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Elizabeth Barry Finder

March 10, 2016

Hi Ann,


Every time you apply for credit the application will be listed on your credit file, so this includes Rapid Finance. If the loan is approved this will be listed as well.


I hope this has helped.


Thanks,


Elizabeth


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