Purple Payday Loan Review

Information verified correct on December 4th, 2016

Let Purple Payday sort through your options to secure you a cash advance online.

If you’re in need of financing up to $2,000, you can submit an application through Purple Payday to be matched with an online lender. It is a loan matching service that works by searching through its panel to match your application with a lender who can approve your for the loan you need. You won’t be charged for using the service and you can apply if you have bad credit.

Product NamePurple Payday Loan
Min Loan Amount$100
Max. Loan Amount$2,000
Loan Term14 - 60 days
Turnaround TimeSame day - conditions apply
Total Cost of Borrowing $10020% of borrowed amount + 4% of borrowed amount each month
RequirementsYou must be over 18 and have a regular source of income (minimum $800).

I want to apply for a loan – how does it work?

Find out if you meet the eligibility criteria and then submit your application online. Purple Payday will search through its panel of lenders to find a suitable option and one that can offer you a loan. This only takes a couple of minutes. You will then be redirected to the lender’s page where you can review the loan and the repayments. If you’re happy with the terms, you can agree to the loan.

What features does Purple Payday offer?

Applying for a payday loan with Purple Payday offers several benefits, including:

  • Easy application. Apply online and complete your application within minutes. If Purple Payday finds a lender to approve you, you’ll be directed to its site quickly to review the loan terms.
  • Access to various lenders. Applying with Purple Payday gives you access to a panel of lenders and hence more of a chance of being approved than if you’d applied with just one.
  • Bad credit accepted. If you have bad credit you’re still able to apply. Some lenders on the panel have flexible eligibility criteria regarding credit history and can still approve you.
  • No obligation application. You can submit your application to review the terms offered by the lender and be under no obligation to accept them.

How much will a loan cost?

This depends on the lender you are matched with. For loans under $2,000 with terms of 14 - 60 days, lenders cannot charge you more than the following:

  • An establishment fee that is 20% of your principal loan amount
  • A monthly fee that is 4% of your principal loan amount
  • A government fee or charge
  • Default fees and charges
  • Enforcement expenses

How you can submit your Purple Payday application

If you’re interested in applying for a loan through Purple Payday you can start your application online. You’ll need to meet the following eligibility criteria:

  • You’re an Australian citizen
  • You’re 18 or older
  • You have an active bank account
  • You have a regular source of income
  • You will have more success of getting a loan if you are in full-time employment

To apply, you need the following information:

  • Loan details. Loan amount, term and purpose.
  • Personal details. Your name, gender, birth date, phone number and email address.
  • Address. Where you live and how long you’ve been there – you may also need to provide a previous address.
  • Employment. Where you work, your position, how long you’ve worked there, how much you earn, how often you get paid and your next pay date.
  • Bank details. Account type, bank account number, BSB and name of the account holder.
  • Finance details. The amount you pay in rent/mortgage payments, credit and loan payments, your monthly expenses and whether you’ve experience hardship or defaulted on loan repayments in the last six months.

Purple Payday offers an alternative payday solution by matching you with a lender from its panel. Make sure you compare your options and consider if this is the right service for you before you apply.

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9 Responses to Purple Payday Loan Review

  1. Default Gravatar
    Anthony | September 16, 2016

    can you please call me i cannot find a number to call on website i have tried to submit a application but it will not accept my email my name is Anthony

    • Staff
      Elizabeth | September 19, 2016

      Hi Anthony,

      We’re unable to assist with your actual application as it’s handled by Purple Payday directly. They don’t have a customer service number but you can email them on compliance@pingtree.com or try their social media channels.

      Thanks,

      Elizabeth

  2. Staff
    Elizabeth | August 12, 2016

    Hi Paul,

    You’ve come through to finder.com.au, a financial comparison site and not Purple Payday. As Purple Payday is not a direct lender you may be contacted by a lender on its panel if you’re approved for a loan. You can also head to its website or social pages to get in contact.

    Hope this helps,

    Elizabeth

  3. Default Gravatar
    Michelle | April 22, 2016

    I have applied and was excepted and have not heard anything back please notify me on what happened.

    • Staff
      Elizabeth | April 26, 2016

      Hi Michelle,

      If you’ve been accepted by Purple Payday, the lender you have been matched with is responsible for funding your loan. You’ll need to get in contact with Purple Payday so you can find out the status of your application and when you can expect to receive your funds. However, it will usually only be within banking hours.

      Hope this has helped,

      Elizabeth

  4. Default Gravatar
    nicole | January 22, 2016

    If i borrow 1000 how much are the weekly payments

    • Staff
      Elizabeth | January 22, 2016

      Hi Nicole,

      This depends on how long your repayment terms are. You will be charged an establishment fee of 20% and a monthly fee of 4% – we’ve got a calculator you can use to get an idea of your repayments. You can use it here.

      I hope this will help.

      Thanks,

      Elizabeth

  5. Default Gravatar
    faasolo | October 21, 2015

    what about if im not working

    • Staff
      Elizabeth | October 21, 2015

      Hi Faasolo,

      Thanks for your question.

      The minimum requirements for a Purple Payday loan are that you are receiving a regular source of income. If you find that you aren’t eligible, you can find more unemployed loan options on this page.

      I hope this will help.

      Thanks,

      Elizabeth

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