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Quickle Small Loans
Borrow between $300 to $2,000, with repayment terms up to 62 days. The turnaround is quick, but high fees and charges apply.
Quickle is payday lender offering short-term, small loans. Their applications are online, and they can provide loan funds in one business day. The establishment fee is 20% of the loan amount and 4% for monthly fees. Their small loans are tailored to each applicant, with a repayment system linked to their bank account. Customers are able to schedule repayments for a fee. The application process generally requires only basic information and customers can also apply for a loan through text message, phone or via email.
$2,000
Maximum loan amount
Next business day
Turnaround time
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Details
| Product Name | Quickle Small Loans |
|---|---|
| Minimum loan amount | $300 |
| Maximum loan amount | $2,000 |
| Turnaround time | Next business day |
| Available to Centrelink Borrowers? | No |
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.
⚠️ Warning about Borrowing
Do 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.
How does a Quickle small loan work?
Loan applicants are able to apply for up to $2,000 with this loan and the maximum term is 62 days. Successful applicants could have the funds in their account the same day or, if they opt for the cheaper option, by 11am the next business day. The first repayment of the loan must be within 20 days of the money arriving in the applicant's bank account. Customers can also delay a repayment for a fee if they are unable to make it on time.
Be aware of the fees and charges associated with this loan, some of which are outlined in the section below. Payday loans are an expensive way to borrow money and should only be used in financial emergencies. Keep in mind the full fee schedule is only available to those who have been approved for the loan, and may include additional charges depending on the circumstances of the applicant.
Features of a short term small loan from Quickle
Some of the features associated with this payday loan are:
- Quick online process. The application can be completed within minutes with all of the required information on hand. For customers who opt for the fast option, the money can be in their account that same day but this does come at an extra cost. For the less expensive, slower option, the funds will be in their account by 11am on the next business day.
- Small loan amounts. Customers are able to apply for a maximum of $2,000 through Quickle.
- Flexible repayment options available. Customers can tailor their repayments to their cash flow, which makes it easier to ensure that they never miss a repayment.
- Straightforward fee structure. Successful applicants will be charged 20% of the amount they wish to borrow as an establishment fee and pay 4% of the principal amount as a monthly fee.
- Short loan terms. The longest loan term that is available is 62 days. This is because the cash loan products on offer are designed to be short-term solutions, and are not suitable for long-term financial goals.
- Re-application service available. Once Quickle has someone's details in their system, applying for another loan is simpler, so long as their circumstances have stayed the same.
Fees and charges
For short term loans up to $2,000 with Quickle customers will pay:
- An establishment fee of 20% of the principal amount
- A monthly account-keeping fee of 4%
There are also late repayment fees and charges associated with this loan if someone misses a payment. If someone decides to reschedule a repayment, this can also result in additional fees and charges.
Quickle loan eligibility
In order to be eligible for this loan, applicants must:
- Be over the age of 18
- Be able to provide all the information required in the online application
How to apply
The online application process is simple and will take about ten minutes, provided the applicant has all of the information handy. They will need to:
- Provide their name and preferred method of contact
- Show a bank statement that proves their regular income and ability to afford the repayments and fees
- Provide personal identification, such as a driver’s licence, passport number, proof of age card or birth certificate
- Have a bank account in their name into which funds can be deposited – this cannot be an online savings account or online-only account
Once someone has been approved, the funds can be in their account within one business day.
