Personal Loans for Temporary Residents in Australia

Temporary residents can get personal loans. You'll need to be on an eligible visa, earn a regular income and be at least 18 years old.

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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
1 to 7 years
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
1 to 7 years
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
1 to 7 years
You'll receive a fixed rate of 8.99% p.a. ( comparison rate 9.88% p.a. )
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
ANZ Variable Rate Personal Loan
10.50% (variable)
1 to 7 years
You'll receive a variable rate of 10.50% p.a. ( comparison rate 11.38% p.a. )
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.

Compare up to 4 providers

Personal loan eligibility criteria for temporary residents in Australia

So you can have all the tools at your disposal, these are the eligibility requirements for most Australian brands that offer personal loans to temporary residents. Keep in mind lenders will still consider applications on a case-by-case basis.

LenderEligibility requirementsVisa requirementsReview personal loans
  • At least 18 years old
  • Reside in Australia
  • An acceptable temporary residency visa
  • Visitor visa (except a special category visa - NZ Citizen), working holiday, bridging, transit/short stay/seasonal, exchange/gap year and student visas not accepted
NAB Personal Loans
  • 18 years old
  • Earn $15,000 p.a.
  • Temporary subclass work visas e.g. skilled and business visas accepted
  • Working holiday visas not accepted
ANZ Personal Loans
Commonwealth Bank
  • 18 years old
  • Earn $14,000 p.a.
  • Reside in Australia
  • 457 working visas are accepted
CommBank Personal Loans
Fair Go Finance
  • Earn $500 per week
  • Can be from a combination of wage/eligible Centrelink payments
  • Be a permanent resident or on a working or sponsorship visa
Fair Go Finance Personal Loans
  • 18 years old
  • Be an Australian permanent resident or have an approved visa
  • Have confirmed employment
  • Hold one of the following accepted visas
Westpac Personal Loans

How does a personal loan for a temporary resident work?

Personal loans for temporary residents work in the exact same way as a personal loan for a permanent resident. The only thing that will be different is the eligibility criteria. For a temporary resident, such as an individual on a work visa, extra criteria need to be met in order to qualify.

Most lenders will need the details of your visa before you are approved to ensure that the terms of the personal loan do not exceed the amount of time left on your visa. You may also need to meet higher minimum income criteria or show extra credentials. One advantage of applying for a loan in Australia is that your overseas credit history is not a factor.

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How to compare your personal loan options?

When comparing your options, be sure that you consider the following points:

  • Interest rates. Interest rates can vary greatly between lenders. Make sure that you study this carefully and understand how much your monthly repayments will be as well as how much over the loan amount you will be paying in interest. Using a personal loan calculator can help you determine these numbers.
  • Fees. Compare the fees between various lenders. Some may charge for processing the application while others could have a monthly charge.
  • Eligibility requirements. Not all temporary visas are widely accepted. While a Temporary Work (skilled) Visa or Subclass 457 is considered by most banks, other types of visas may not be. Some banks will also require that you have a certain amount of time left on the visa. Investigate this thoroughly before filling out an application.
  • Secured. In some instances, you can qualify for a secured personal loan. This is where an item of worth, such as a car, is used to guarantee the loan.

What are the benefits and drawbacks to consider?

  • Overseas credit history is not a factor. Any bad credit you hold overseas is not a determining factor when applying for a personal loan in Australia.
  • Competitive rates. You can find competitive rates if you compare your options before applying.
  • Flexibility. You can choose to pay the loan off over a term of between one and seven years, depending on what works best and when your visa ends.
  • Higher rates. In comparison to a home loan or refinance, the rates for a personal loan are generally higher.
  • Less choice. As not all personal loans are available to temporary residents, you have less to choose from.
  • Documents that are required. As a temporary resident, you may have to show more documentation than a permanent Australian resident or citizen. A copy of your passport and visa will be required, along with details of your work history in Australia.

What should you avoid with a temporary resident personal loan?

  • Applying for more than you need
    Only apply for the amount of money you need to make your purchase or fund a trip. You want to make sure that you are not paying interest for something you could have paid for out of pocket.
  • Making too many applications
    Compare your options first and only apply with one that you find meets your individual needs and offers you the best rates. If you apply for too many in a short space of time, your credit history can be negatively impacted.

How can you make sure you're approved?

There's no way to make sure you're approved for a personal loan, but a way to give yourself the best chance is to ensure you meet all of the minimum eligibility criteria.

Minimum criteria for personal loans usually stipulates:

  • Age
    You'll need to be over the age of 18.
  • Visa
    Check if any specific Visa types are excluded from the lender's criteria, or if any other criteria are mentioned.
  • Employment
    You will generally need to be in permanent employment earning an income of $50,000 p.a.
  • Financials
    You will need an Australian bank account that is in good standing.

The right loan will depend on your needs and situation, so starting a comparison using the table above can help you narrow down your choices.

How to apply for a temporary resident personal loan

  1. Choose what kind of loan you want – secured, unsecured, etc.
  2. Compare your loan options to make sure you get the best personal loan deal.
  3. Use our personal loan repayment calculator to work out if you can afford to pay back the loan.
  4. Click "Go to Site" when you find a product on that you'd like to apply for.
  5. Fill out the lender's online application form and submit it (see above for the criteria you'll need to meet).

The turnaround time for personal loans will differ between lenders. Some loans will be approved within 60 seconds, while some may take a few days or weeks.

The lender will get in touch with you and tell you whether you have been approved and how much they are willing to lend you.

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here:

⚠️ 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 short term loans for temporary residents in Australia

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Fair Go Finance Small Loan
3-12 months
24 to 48 hours
0% Establishment Fee + monthly fee 4%
A small loan between $500 and $2,000 that can be funded in 24 hours. Note: Save up to $400 when you apply for a small loan from $500 to $2,000 and are approved for a 0% establishment fee. T&Cs apply.
Fair Go Finance Personal Loan
3-36 months
Within 24 hours
from 17.9% p.a. + establishment fee of between $360 - $771 + $9 monthly fee
A larger loan up to $10,000 you can apply for even with bad credit. Fast turnaround within 1 business day. Note: You must earn more than $500 per week.
Fair Go Finance Personal Loan (Above 5K)
Up to 3 years
Within 24 hours
from 17.90% p.a. + establishment fee of between $595 - $771
Apply for a loan up to $10,000 and have up to 3 years to repay. Bad credit and casually employed borrowers considered. Note: You must earn more than $500 per week.

Compare up to 4 providers

More guides on Finder

  • Great Southern Bank Variable Rate Personal Loan

    With a Variable Rate Personal Loan from Great Southern Bank you get simplicity matched with the opportunity to save yourself hundreds of dollars in interest fees. The flexibility in repayments that this loan gives you makes it easy to keep up with and pay it off without incurring extra fees.

  • Great Southern Bank Fixed Rate Personal Loan

    When you have a large expense that your savings can’t cover, a personal loan at a fixed rate from Great Southern Bank is an option worth considering. With no fees and a competitive fixed interest rate, this could be the right loan for you.

  • Emergency Loans For Single Mothers

    Emergency loans for single mothers are personal loans that are processed quicker than usual loans to give fast access to funds. Our guide explains the pros and cons of emergency short term loans.

  • Coles No Annual Fee Mastercard – Exclusive Offer

    Enjoy 10,000 bonus points and 12 months interest-free on balance transfers and purchases. Plus, an ongoing $0 annual fee.

  • Citi Rewards Card – Bonus Points Offer

    Earn flexible rewards points as you spend and enjoy a big 100,000 bonus points offer with the Citi Rewards Credit Card.

  • HSBC Platinum Credit Card

    This card offers 0% interest on balance transfers for 36 months, a discounted $29 first year annual fee and platinum benefits including airport lounge passes and complimentary insurance covers.

  • Citi Rewards Card – Points & Gift Card Offer

    Enjoy an introductory 90,000 bonus Citi reward Points, a $100 Coles eGift card, plus a reduced first-year annual fee with this Citi Rewards Card offer.

  • Westpac Altitude Platinum Credit Card – Existing Customer Offer

    Earn Altitude rewards with Westpac’s Altitude Platinum credit card, while enjoying the benefits and privileges of platinum status.

  • Pepper Money

    Pepper Money is an Aussie non-bank lender that offers a vast range of personal loans and home loans to customers Australia-wide. Find out more here.

  • Handypay Personal Loan

    Find out more about Handypay's personal loans for home improvements. Personalised rates start from 6.75% p.a. on terms from 1 to 7 years.

    Personal Loan Offers

    Important Information*
    Logo for Harmoney Unsecured Personal Loan
    Harmoney Unsecured Personal Loan

    You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
    Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

    Logo for ANZ Fixed Rate Personal Loan
    ANZ Fixed Rate Personal Loan

    You'll receive a fixed rate of 8.99% p.a.
    Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

    Logo for NAB Personal Loan Unsecured Fixed
    NAB Personal Loan Unsecured Fixed

    You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% 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.

    Logo for SocietyOne Unsecured Personal Loan
    SocietyOne Unsecured Personal Loan

    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.

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    38 Responses

      Default Gravatar
      KatieOctober 22, 2018

      Are there any banks that will lend to a person on VISA 461?

        Avatarfinder Customer Care
        JhezOctober 23, 2018Staff

        Hello Katie,

        Thank you for your comment.

        The banks and lenders listed above are those who consider people on a VISA 461. As long as you meet the eligibility criteria and you have a proof that you are capable for the repayment, you can then apply. Just click the Go to Site button to apply.

        Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


      Default Gravatar
      KatrinaSeptember 29, 2017

      My partner is currently on bridging visa( no current end date on visa). Has a great income coming in, need to buy a car loan no more than $10,000. Who can help us?

        Default Gravatar
        ArnoldSeptember 30, 2017

        Hi Katrina,

        Thanks for your inquiry

        Actually, the page above shows your best options in landing a personal loan for a car. Please check out the temporary resident personal loan options portion of the page. Please do take note that these banks have different eligibility requirements that you must know before applying for a loan.

        Hope this information helps


      Default Gravatar
      NoelSeptember 13, 2017

      Hi Good Morning. Just want to ask if i could get a car loan i am 457 visa holder but will apply my pr this month. Can i apply for a car loan while i am on a bridging visa (class wa). I have a loan right now while im on a 457 visa but my loan will be fully paid next month. Im just wondering if i could get another loan while on a bridging visa while waiting for my p.r. Thank you

        Avatarfinder Customer Care
        RenchSeptember 13, 2017Staff

        Hi Noel,

        Thanks for reaching out to us.

        Yes, a select number of lenders will allow student and bridging visa holders with stable incomes to borrow, however, there may be stricter eligibility rules involved in these cases.

        Although car loans are usually restricted to permanent residents and citizens, migrants on a 457 may have a better chance of being approved for car loans so long as they meet certain financial conditions.

        You may compare your options from our list of car loans for temporary residents in Australia. Please click on the name of your preferred lender to check its eligibility criteria and to get more information. When you are ready, you may click on the ‘Go to site’ button to submit an online application.

        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 information helped.


      Default Gravatar
      JenAugust 23, 2017


      I am on bridging visa at the moment while waiting for my Temporary Visa (I am on a Partner (Provisional and Migrant) Visa application). I just learned that the immigration just extended the processing time for partner’s visa which means it will take me longer (probably a year) to get the result of the temporary visa. My partner and I are planning to apply for a loan (for property investment). We both have permanent jobs. Am I eligible?


        Avatarfinder Customer Care
        HaroldAugust 23, 2017Staff

        Hi Jen,

        Thank you for your inquiry.

        If you’re a non-resident foreigner and you want to buy any residential property in Australia, you will first need to obtain approval from FIRB. You can apply for approval online and, while there is no limit to the number of new dwellings you can purchase, you will usually need to apply for approval before each purchase.

        I hope this information has helped.


      Default Gravatar
      MelissaAugust 9, 2017


      This is a long shot but I am currently on 417 working holiday visa and I am in the process of going for my 187 , i am in full time work with company who is sponsoring me, I have over a month left on my current visa, could I take a loan out to help pay for 187 ? Thanks.

        Default Gravatar
        ArnoldAugust 9, 2017

        Hi Melissa,

        Thanks for your inquiry.

        Your options might be limited given that you only have a month left on your visa. However, you may still want to give it a try. Check the lenders featured on this website. Get in touch with them and see if they can still accommodate your application.
        Hope this information helped.


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