Rate dependent on risk profileGo to site
We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder.
Working irregular hours is common in Australia. Whether you're a uni student, a parent, a shift-worker or in a role where your hours change week to week, you can still be eligible for a loan. If you're a casual or part-time employee, it’s important to know that there are personal loan options out there for you to consider.
Both casual and part-time employees work across all industries, including office work, hospitality and even government work. For any industry, these employees:
|Part-time employees||Casual employees|
Getting a personal loan as a casual employee is generally more difficult than it is for full-time employees. This is because:
Your hours aren't stable
Casual employees do not have guaranteed working hours and therefore no fixed salary. While some weeks you may work 50+ hours, other weeks you may work no more than 10. This means that your weekly earnings fluctuate, which could potentially make meeting repayments difficult, at least in a lender's eyes.
You're not entitled to sick pay or annual leave
If you choose to take a holiday, or are forced to take time off for illness, you would not be entitled to any pay. For a lender, this can be viewed as risky as it could affect your ability to meet repayment obligations.
Some casual workers may find it easier to access loans than others, because they are deemed to be less of a risk by lenders. Here are some things casual workers can do to help them appear less risky:
If you're a casual worker, the best way to secure a loan is by doing your research and comparing what is out there before you start applying.
Getting approved for a personal loan if you are in part-time employment might not be as difficult as if you are a casual worker, because you have fixed hours and a fixed income.
However, you might still find it trickier than a full-time worker to be approved, or to qualify for the amount you want. This is because:
Your income doesn't meet the lender's requirements
Part-time employees, generally speaking, are paid less than full-time employees. Some lenders have minimum income requirements on their personal loans, and if your salary doesn't meet the requirement, you might not qualify for the loan.
If you're employed part-time, you will have more loan options. Here are some tips on getting your application across the line:
The majority of lenders require you to be in permanent/full-time employment in order to obtain finance. However, some lenders' minimum criteria just requires you to earn a regular income or requires that you meet a minimum annual income. For example, some personal loan terms and conditions state you must be "in regular paid employment" but there is flexibility within the criteria.
Take a look at some personal loan options for part-time and casual employees below:
|Brand||Criteria||Find out about products|
|ANZ||You need to earn at least $15,000 p.a. and have been employed at your current work for 6 months.|
|Bankwest||You need to work a minimum of 25 hours per week and receive consistent hours and pay.|
|Bank of Melbourne||You need to be over the age of 18 and a permanent Australian resident.|
|BankSA||You need to be over the age of 18 and a permanent Australian resident.|
|Bendigo Bank||You need to be in paid employment as subject to lending criteria.|
|Citibank||You need to earn over $35,000 p.a. and have good credit.|
|Commonwealth Bank||You need to be over the age of 18 and earn at least $14,000 p.a. after tax.|
|IMB||You need to have been in your current role for at least 12 months.|
|Latitude Finance||You need to earn at least $24,000 p.a.|
|loans.com.au||Your eligibility will depend on your individual circumstances and loan purpose.|
|ME Bank||You need to be an Australian permanent resident and at least 18 years old.|
|MoneyMe||You need to be employed and over the age of 18. Good credit history will be rewarded.|
|NAB||You need to have a good credit rating and earn a regular income or wage.|
|NRMA||You need to be able to provide evidence of a regular income or wage.|
|RACQ||You need to earn an income that's sufficient to manage your loan repayments.|
|Society One||You need to earn more than $25,000 and be able to afford the loan you apply for.|
|St.George||You need to be over the age of 18 and a permanent Australian resident.|
|Westpac||You need to have been in the role for 12 months or more.|
There are a couple of options available to you if you're a casual employee or self-employed, and are struggling to get approved for a personal loan.
If you are in need of a loan to cover a short term cash shortfall and you don't meet the criteria for a standard personal loan, a short term loan is another option you can consider. However, it's important to keep in mind that short term loans are much more expensive than personal loans from banks and have to be repaid over much shorter terms.
Short term loans are small loans that are used to cover unexpected expenses or if you need a smaller loan amount for less than one year. These loans require evidence of regular pay, but casual workers who are paid the same each week by working regular hours may still be eligible. These loans are for durations of 16 days to 1 year and are for amounts of $100 to $2,000, but higher amounts up to $5,000 are also available.
Getting a guarantor loan for your personal loan if you're a part-time or casual worker could also be an option. A guarantor is someone who is legally responsible for meeting your repayments should you default on the loan. Usually, guarantors are required to be homeowners with good or excellent credit scores.
So, if you have a friend or close family member who meets this eligibility and is willing to go guarantor on your behalf, it may improve your chances of having your personal loan application accepted. If you're a part-time employee, it may also help you to access a greater amount of funding than your salary would normally allow.
Personal loans for casual and part-time workers can be used for almost any legitimate purpose. Usually, this purpose will have to be disclosed to your finance provider during the application process. Legitimate reasons for taking out a personal loan include:
If you're unsure as to whether your loan purpose will be considered "legitimate" it's a good idea to speak to your provider prior to submitting an application.
If you're a casual employee or employed part-time, the following documentation will be required when applying for a personal loan:
Ease the transition after a staff absence with a Return to Work Policy.
How to set the bar when it comes to appropriate social media use in your workforce.
6 tips to start a successful home based business.
Looking to renovate your home? Find out more about Brighte's personal loan for home improvements and ways in which it may be able to benefit you.
What you should know about setting a leave policy for your employees.
The complete guide to how tax changes and new regulations will hit your wallet.
Write up a casual employment contract to your exact specifications using an online template.
Get rewarded for an excellent credit score with a Now Finance personalised rate secured personal loan. Rates vary between 5.95% p.a. and 15.45% p.a. Apply today.
Find the latest income tax rates set by the ATO
This Visa credit card offers a low interest rate, a $45 annual fee and mobile payments with Apple Pay, Google Pay and Samsung Pay.
You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.