Is it harder to get a personal loan if you're a casual employee?
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.
Hi I’m looking to get a loan of 10,000. I have been working for my current employer full time for over a year. My only problem is they pay me cash. Is there anyway that I could get the loan with payslips and a letter from my boss confirming my employment?
Hi Jack,
Thank you for your inquiry.
Yes, there is. It’s good to note that each lender will set out their criteria separately and it’s always important to make sure you meet the eligibility before apply. For this reason, I suggest that you check personal loans, compare them and directly get in touch with your chosen lender to confirm with them if you are eligible for their loan or not.
I hope this information has helped.
Cheers,
Harold
My son works part time. Has been there for a few years now. He lives at home with me. Needs a car loan of $5000. He has no credit history. What are his options?
Hi Karen,
Thanks for reaching out to us.
You’re actually already on the correct page to compare your options.
You may click on your preferred loan on this page to see more details and click on ‘Go to Site’ button to submit an online application
Before applying for any loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.
Cheers,
Rench
I’m a casual shift that is working a minimum of 15hrs – 25hrs+. So i’m wondering if it’s possible to get a $36,000 loan. Been working at this place for almost 10months now.
Hi Tai,
Thanks for your question.
If you are a casual employee, some of the lenders above may consider you for a loan, subject to other eligibility criteria. To learn more about the eligibility criteria and requirements to apply for a particular loan product, feel free to visit its review page. If you are ready to apply, just click the ‘go to site’ button.
Cheers,
Anndy
I work at a small gas station as part time working 24 hours a week. Could I take out a small loan ?
Hi Dixie,
Thanks for your question.
You can review the criteria and requirements and discuss your loan options with a lender listed above. There are also lenders that offer short-term loans that you can compare.
Hope this helps.
Cheers,
May
Hi i want to apply for a loan of 60 000 please and iam a temporary on year contract which sure next week i will be permanent
Hi Tshego,
You can find lenders that consider casual and part-time applicants on the page above, but as you’re on a temporary contract you will need to get in touch with the lender to confirm your eligibility. Whether or not you’re approved for a loan as high as $60,000 will depend on your ability to manage the repayments.
I hope this helped,
Elizabeth