Low Doc Personal Loans

self-employed borrower

If you're self-employed or earn an irregular income you may still be eligible for a loan – find out about your low doc options.

If you're in need of a personal loan you may feel limited by some of the eligibility requirements. Income and assets can be difficult to prove if you are self-employed or your wealth is tied up in investments. If this is the case, opting for a low doc personal loan may be an option for you to consider.

We don't currently compare any low-doc personal loans. If you're self-employed and considering a personal loan, compare your options by following the link below.
Compare self-employed personal loans

How do low doc personal loans work?

Low doc personal loans are sought by people who may not have the documentation required to apply for more traditional personal loans. They can be an option if you can't prove a regular income, for example if you're self-employed, or if your income comes from investments. As these loans are risky for lenders, they may come with higher rates and fees.

What features come with these loans?

Low doc personal loans generally come with the same features as other personal loans as well as flexible eligibility features which can make them an option for people who do not qualify for other forms of credit. Some of the features include:

  • Standard application. These loans require less documentation than others, but the application process is usually the same as a regular personal loan. The lender will still need evidence that you're able to repay the loan, whether it be through tax statements or bank statements.
  • Fees and rates. As these loans require less proof of financial stability, lenders may charge higher fees and rates to offset the risk of lending the money.
  • Variable or fixed. Depending on the loan you opt for you may be able to select a fixed or variable rate option to suit your financial needs.
  • Flexible loan purposes. Low doc personal loans may allow you to borrow money to finance personal or business needs, making them a suitable option to consider for various types of loan requirements.

How self-employed applicants can be approved for loans

There's no one way to make sure you're approved for a loan, but here are a few options to keep in mind if you're looking for financing while receiving an irregular income:

  • Consider a guarantor. By applying with a guarantor you can give a lender a guarantee that the loan will be repaid.
  • Apply with another person. A joint application is different to a guarantor – you and the person you're applying with are equally responsible for the loan. You both need to meet the criteria but it can also help to bolster your application.
  • Have at least two years of tax returns. This is a standard requirement for lenders, so ensure you have this when you are comparing.

Weigh up the benefits and drawbacks before applying

  • These personal loans are an option for people who may not be able to apply for traditional personal loans
  • Less documentation is required to apply for these loans, which makes for a quick and easy application process
  • Low doc loans tend to have higher rates and fees
  • You might find fewer features and less flexibility than other personal loans

Is there anything to consider before you apply?

Before you apply for a low doc personal loan, consider the following:

  • Do you need the loan? The low doc features of these loans may attract borrowers for the wrong reasons. If you do not have a reliable income or stable assets to show as evidence to a lender then you may want to consider your ability to make the repayments. Decide if your financial situation is stable and if any changes could occur that may affect your ability to repay the loan.
  • Have you planned your repayments? Not planning for a loan and how you're going to repay it is a common mistake, but one that can cost you if you miss any payments. Calculate your repayments and work out whether they will be manageable on your budget. This is even more important for low doc loans if you earn an irregular income or have unstable assets.
  • Why are you applying? The purpose of the loan should also be considered. For instance, if you are looking at financing a car then you can consider a secured personal loan as you may be able to get a lower rate. If you want to make improvements to your home you can consider a home equity loan/line of credit.

Here's how you can apply

To apply for a low doc personal loan you can click on the "Go to Site" button for any of the brands you see on the page above. From there you will need to provide proof of your identity and also certain financial details. Eligibility requirements differ for each loan, and you can check these by clicking on the name of the loan and reading the review page before applying.

To apply, you will generally need to be over the age of 18 and be a permanent Australian resident. Lenders will differ on their requirements regarding your credit history.

If you are looking for a low doc home loan, you can compare those here.

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Important Information*
SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan. Apply before 31 March 2018 to earn 2 Velocity Points for every $1 you borrow.

Pepper Money Unsecured Fixed Rate Personal Loan

Apply for up to $50,000 and receive conditional approval within minutes. Interest rates range from 9.99% p.a. to 21.74% p.a. The rate you are approved for depends on individual circumstances.

NAB Personal Loan Unsecured Fixed

An unsecured personal loan with a competitive fixed rate that you can make additional repayments to without penalty. Note: You must have held a NAB credit card or transaction account for at least 6 months before applying.

Westpac Unsecured Personal Loan

Borrow up to $50,000 for a term of up to 7 years with this unsecured loan.

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42 Responses

  1. Default Gravatar
    DilipJanuary 7, 2018

    I want personal loan.can you give

    • Staff
      ArnoldJanuary 9, 2018Staff

      Hi Dilip,

      Thanks for your inquiry

      There are a number of loan options available for you. Please compare your loan options by clicking on this link. Please note that lenders have eligibility requirements you may have to meet to be considered for a loan.

      Hope this information helps


  2. Default Gravatar
    BrianDecember 27, 2017

    I have a car already but want to use it as security on a personal loan.I have never had defaults but have a low credit score due to a high number of home refinance applications over 12 months ago.I ended up selling the house.I now have regular income and can show pay slips and bank statements and am seeking $25K.Is there a lender that will not give a heavy weight to my Credit File?

    • Staff
      RenchDecember 27, 2017Staff

      Hi Brian,

      Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      Negative marks on your credit file can seriously impact your ability to access credit. If something unexpected comes up and you need quick access to cash, you may feel you have limited options for loans if you have bad credit. If you’re in this position, you can consider a no credit check loan. Lenders who offer these loans have more flexible lending criteria than with other loans, making it possible for people with bad credit to apply. You can know more on this page and compare your options.

      Best regards,

  3. Default Gravatar
    NapoleonDecember 24, 2017

    I am looking for a loan $20,000-$30,000. I am self employed for one year. Slight inconsistency with tax returns. Small pay lots of bills. Can someone help me get across the line with the best possible outcome STAT.

    • Staff
      ArnoldDecember 28, 2017Staff

      Hi Napoleon,

      Thanks for your inquiry

      Actually, you are already on the right page to view your options. Please do understand that we can’t assure that you’ll be approved for a loan but there a few things you’ll need to keep in mind when applying for a loan on irregular income.

      Guarantor Loans.
      – By applying with a guarantor you can give a lender a guarantee that the loan will be repaid.

      Apply with another person.
      – A joint application is different to a guarantor – you and the person you’re applying with are equally responsible for the loan. You both need to meet the criteria but it can also help to bolster your application.

      Have at least two years of tax returns.
      – This is a standard requirement for lenders, so ensure you have this when you are comparing.

      Hope this information helps


  4. Default Gravatar
    MarieSeptember 13, 2017

    If you have regular work but have only been working for 2 months how do you get a loan?

    • Staff
      MariaSeptember 14, 2017Staff

      Hey Marie,

      Thank you for reaching out to us.

      You may check out the lenders featured on this page on New Employee Personal Loans.

      Before applying, please ensure that you meet the eligibility criteria and requirements and to read the details, as well as the relevant Product Disclosure Statements/ Terms and Conditions of the option before making a decision and consider whether the product is right for you.

      I hope this helps.


  5. Default Gravatar
    RupeshNovember 18, 2016

    I need a personal loans required

    • Staff
      LouNovember 18, 2016Staff

      Hi Rupesh,

      Thanks for reaching out.

      Please note that finder.com.au is a financial comparison and information website that helps users make better decisions.

      Unfortunately, the loan products that we feature on our website are only available to Australian residents. You may want to check out some of the local lenders in your country for your borrowing needs.


  6. Default Gravatar
    JustinOctober 29, 2016

    Hi I would like a personal loan of $50k, I am a casual worker but earn around 60k per year, would a low doc loan be the easiest way?

    • Staff
      MayNovember 1, 2016Staff

      Hi Justin,

      Thank you for getting in touch.

      At the moment, we do have any lenders available to compare that offer low doc loans, but you can review the criteria/requirements and discuss your eligibility or options for a loan with a lender featured on this page, some of them offer loans up to $50K.


  7. Default Gravatar
    FinnOctober 7, 2016

    I am self-emplyed with an income of about $60K pa, and I am after a personal loan of about $30K. For various reasons, I am having trouble securing a loan from the bank, so I am looking for a low doc personal loan. On your site on this page, it says ‘To apply for a low doc personal loan you can click on the “Go to Site” button for any of the brands you see on the page above.’ but I cannot see any GTS options above? Can you please confirm that I am not being silly and it isnt right under my nose? Or do you not have any low doc personal loan providers to recommend?

    • Staff
      ElizabethOctober 7, 2016Staff

      Hi Finn,

      Unfortunately we don’t have any lenders currently available to compare. You can find a range of alternative finance providers offering larger loans on this page, but the maximum loan amounts are usually up to $15,000. You might find some other providers by searching on Google.

      Sorry I couldn’t be of more assistance.


  8. Default Gravatar
    GregOctober 5, 2016

    I am a disabled pensioner and I need to borrow $2000 for legal fees. I’m in the middle of a messy divorce, the soon to be ex has emptied all the bank accounts. I’ve now found she had a delinquent credit card debt of $3000 in my name. I can’t sell the house and she is denying me access to my car, boat, van, all my tools and personal effects. How can I get a loan ?

    • Staff
      LouOctober 5, 2016Staff

      Hi Greg,

      Thanks for your question.

      If you are a pensioner, some of the lenders and banks on this page may consider you for a loan. Once you have selected a lender or bank, please do click on its name to see your loan options as well as the eligibility criteria to apply.


  9. Default Gravatar
    KaraOctober 1, 2016

    I’m in need of a personal loan to get on top of finances and get a new car as mine is broken down I have four children and on my own what are my options I currently receive government payments can I get a loan

    • Staff
      ElizabethOctober 4, 2016Staff

      Hi Kara,

      You can find lenders that may consider you for a loan on this page.

      Hope this helps,


  10. Default Gravatar
    NikkiSeptember 19, 2016

    Hi I’m looking for a low doc loan, I get paid cash so I have no bank statements. I obviously have payslips showing car allowance.. Also PAYG. I would like to buy a car used for work purposes..
    Are there any low doc loans or am I better off deposing the cash weekly then after 90 days apply for a loan.

    • Staff
      ElizabethSeptember 19, 2016Staff

      Hi Nikki,

      Low doc personal loans allow you to apply for a loan using tax returns or PAYG statements, as you mentioned. However, you may get more options if you decide to apply for a standard car loan as low doc loans tend to be for self-employed people. For car loans from banks you usually don’t need to provide bank statements, just your pay slips. You can click on the name of car loans on this page to read the review and see what documents are required. Once you find a loan you can apply for and are interested in, you can click “Go to Site” to submit your application.

      I hope this has helped,


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