Rapid Finance bad credit loans

Rapid Finance specialises in loans for customers with a bad credit history, and who are unable to get loans elsewhere. These loans include car loans, personal loans, bike loans, boat loans, equipment loans and more. While the cost will vary based on the applicant and the type of loan you apply for, loan terms are between 1 to 7 years. Repayments are flexible, allowing you to make weekly, fortnightly or monthly repayments. If you have security to offer, you may get better terms.

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Product	Maximum loan amount	Term of loan	Turnaround time	Arrears fee	Costs	Fortnightly repayment (for $1,500 loan)
Fundo Small Loan	$2,000	5 to 26 weeks	Same day - conditions apply	$20	20% of loan amount + 4% of loan amount each month	$396	Borrow up to $2,000 and pay it off over 20 weeks. Same day approval for eligible borrowers.	Go to siteMore info Compare product selection Compare	loading
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.	Go to siteMore info Compare product selection Compare	loading
Safe Financial Small Loan ($500 to $2000)	$2,000	13 to 50 weeks	Same day - conditions apply	$35	20% establishment fee + 4% monthly.	$396	Borrow from $500 to $2,000 with same-day funding and no early repayment fees.	Go to siteMore info Compare product selection Compare	loading
Payday Mate Payday Loans	$2,000	16 to 47 days	1 Business Day	$47	29.98		More info Compare product selection Compare	loading
Munibox Fast Loans	$2,000,000	3 to 12 months	24 hours		Varies upon the loan amount		A secured loan of $5,000 or more with no upfront fees or payments. Access to funds on the day you apply.	More info Compare product selection Compare	loading
City Finance Small Cash Loans	$2,000	12 weeks to 52 weeks	same day				More info Compare product selection Compare	loading
MoneySpot Small Loan	$2,000	63 to 90 days	1 hour - conditions apply	$35	20% of loan amount establishment fee + 4% of loan amount monthly.	$396	Borrow under $2,000 and benefit from a transparent fee structure and a simple application. Bad credit borrowers considered.	More info Compare product selection Compare	loading
Fair Go Finance Medium Personal Loan	$5,000	6 to 15 months	Within 24 hours	$35	Establishment fee of $400		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.	Go to siteMore info Compare product selection Compare	loading
Max Cash Loans	$10,000	6-12 months	Next Business Day		Fees and charges will be set out and based on your credit score and worthiness.		More info Compare product selection Compare	loading
OK Money Medium Term Loan	$4,600	24 Months		$30			More info Compare product selection Compare	loading
Needy Money Medium Loan	$5,000	1 to 2 year(s)	1 hour - conditions apply*		Based on your credit history, employment and residential stability.		Apply for up to $5,000 and have up to 2 years to repay.	More info Compare product selection Compare	loading
Swift Small Loans	$4,500	10 - 52 Weeks	Within 60 minutes	$15	20% of the loan amount & 4% monthly service fee.		More info Compare product selection Compare	loading
Nimble Medium Size Loan	$25,000	62 days to 48 months	1 hour - conditions apply*	$15	Application fee of $400 + 47.62% p.a. for $2,050 to $5,000		A larger loan up to $25,000 you can apply for even with bad credit. Your loan can be funded within 1 hour.	Go to siteMore info Compare product selection Compare	loading
SRG Finance Cash Advance	$1,200	62 days	2 hours		20% of borrowed amount + 4% of borrowed amount each month		Apply for a cash advance up to $1,200 and you can receive it on the same day. The loan is not offered to individuals who are on centrelink benefits.	More info Compare product selection Compare	loading
Payday 24/7	$1,000	16, 22 or 32 days	Same Day if approved	$38.50	20% of borrowed amount + 4% of borrowed amount each month		You could borrow up to $1,000 without a credit check from Payday 24/7	More info Compare product selection Compare	loading
Capfin Money Medium Amount Loan	$5,000	6 to 18 months	Overnight	$25	$400 establishment fee + 48% p.a.		A convenient loan up to $5,000. Receive approved funds the next business day.	More info Compare product selection Compare	loading
Payday Gold	$1,500	up to 15 days	24 Hours		29.98		Get up to $1,500, quick approval, 100% online and Confidential and secure.	More info Compare product selection Compare	loading
MyBond Rental Bond Loan		12 months	48 hours	$0	2.08% of the bond per month	$0	More info Compare product selection Compare	loading
CashnGo Loans	$2,000	2 - 6 months	30 mins - conditions apply	$6	20% of loan principal + 4% of principal amount p/m		More info Compare product selection Compare	loading
Easy Financing Personal Loan up to $5,000	$5,000	1 to 12 months	Same Day if approved	$35	$400 establishment fee + 4% of the principal amount monthly fee		If you earn $450 p/w you could borrow up to $5,000 online.	More info Compare product selection Compare	loading

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Types of Rapid Finance loans

GoRapid provides a wide variety of bad credit loans. Depending on what you're looking to finance, you might want to consider applying for their:

• Bad Credit Car Loans. If you're looking for finance for a vehicle but have bad credit, you can apply for one of these loans. Enjoy a free finance assessment and loan options such as chattel mortgages novated leases, consumer car loans and commercial hire purchases.
• Bad Credit Home Loans. Home loans for those with bad credit can be accessed through Rapid Finance. First home buyer, refinance, investment and commercial are available.
• Bad Credit Personal Loans. Aren't looking to purchase an asset with your loan? Personal loans for bad credit applicants are also on offer. There are no penalties for extra repayments with these loans, helping you to save on interest if you're able to repay your loan early.
• Bad Credit Leisure Loans. Finance for bikes, boats, jet skis and caravans can be found under the tailored 'leisure loan' umbrella. As with most Rapid Finance loans, bad credit borrowers are considered.
• Bad Credit Equipment Loans. Applicants, including those with less-than-perfect credit, can apply for finance for trucks, 'yellow goods' and other equipment, which can help your business get the tools it needs to keep going.
• Rapid Finance Bad Credit Personal Loan
• Rapid Finance Bad Credit Car Loan

The features you can expect when you borrow

• Bad credit considered. One of the biggest stumbling blocks in getting a loan is having a negative mark on your credit file. This can make it difficult to be approved for loans from a vast majority of lenders. However, Rapid Finance will look at your current financial circumstances while considering you for a loan, looking beyond any bad credit you might have run into.
• Wide variety of loans. They provide loans for different purposes, including to finance a boat or a vehicle, to buy a home, a caravan or even a bike. This essentially makes them a one stop shop for most bad credit financing requirements.
• Repayments. You'll have between one and seven years to repay your loan, and you'll be given a rate based on your application. You can make weekly, fortnightly or monthly repayments.
• Fee structure. The fees for loans is based on individual circumstances. This allows you to get loans for attractive terms if you can meet the requirements, such as if you have a property in your name or if you can provide any other security.
• Free assessment. The preliminary assessment is free of charge. A quote is provided after the assessment if it is found that financial assistance can be provided. The services up until this point are provided without any cost attached to them.

What you'll pay when you take out a loan

Fee and charges vary according to individual applications and the type of loan taken out. The initial assessment of the application is done free of charge. After a quote is provided, there might be certain fees charged depending on the loan. If a valuation of the secured property is required, the costs attached to it may be included in the fees.

How to apply for a loan from Rapid Finance

If you would like to apply for a loan, you can start filling the application form by clicking ‘Go To Site’ on this page. This will redirect you to an online application which needs to be filled. Keep in mind you need to be over the age of 18 to apply. Have the following details on hand to submit your application:

• Personal details. These include your name, date of birth, contact number and driver's licence number.
• Financial details. If you've been bankrupt or in a Part 9 Debt Agreement, you'll need to list your status. You also need to list any property you own outright or under a mortgage, as well as any defaults you have.
• Employment details. Your current work status, how long you've been at your current and previous job and your net pay after tax will need to be listed.

GoRapid can assist you in getting your dream car or finding the ideal loan if you have bad credit. They provide a quick and competitive service that can be very useful for customers looking for immediate financial assistance.

Frequently asked questions

I have been denied a loan by a couple of lenders. Will I be successful in getting a loan from Rapid Finance?

Every organisation has different credit criteria for various loans. Rapid Finance specialises in bad credit loans and instead of looking at prior results, they assess all applications on their individual merit. Whether or not you are approved will depend on your financial situation and your ability to meet your loan repayments.

Are there any charges for the services provided by Rapid Finance?

Rapid Finance provides their services free of charge until the point of providing a quote. The initial assessments for most of the loans do not require any cost or charges from the applicants. Only after a loan is accepted by you do the fees for that respective loan need to be paid.

What interest rate will apply to my loan?

Rapid Finance offers various rates. The actual interest rate that will apply to your loan will depend on your individual financial circumstances and the information you supply in your application.

Written by

Elizabeth Barry

Journalist

Elizabeth Barry is an experienced journalist with over 10 years of expertise in personal finance, contributing to outlets like the ABC, Sydney Morning Herald, and 7News. She holds a Master of Arts in Creative Writing and a Bachelor of Arts in Communication from the University of Technology Sydney, and has earned multiple award nominations, including a Highly Commended recognition at the 2017 Lizzies. Elizabeth began her career at Finder in 2013, progressing through roles to become Lead Editor, where she oversaw a wide range of personal finance coverage until 2024. See full bio

Elizabeth's expertise

Elizabeth has written 208 Finder guides across topics including:

• Banking
• Personal finance
• Investing