Rapid Finance Bad Credit Personal Loan

Get a flexible personal loan even if you have bad credit.

If your credit history is less-than-perfect and you're looking for a personal loan, consider the bad credit personal loans Rapid Finance has to offer. The eligibility criteria for these loans is flexible and you can apply even if you have lower documentation or unpaid credit card debts and defaults.

You can get a personal loan to purchase a new car or motorbike or to consolidate other liabilities like credit card debts, car loans, and personal loans under a single umbrella. You can even get a cash loan that you can use for just about any legitimate purpose. Find out more about the flexible features below.

Compare other personal loans

Whilst we don't compare Rapid Finance Bad Credit Personal Loan directly, here are some other loans that are similar.

Updated February 23rd, 2019
Name Product Maximum Loan Amount Term of Loan Cash Deposited In Costs Fortnightly Repayment (for $1500 Loan)
9-15 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-15 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Up to 2 years
3 hours - conditions apply
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
62 days to 1 year
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 1 year. Centrelink cannot be your primary source of income.
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
3-12 months
1 business day
Establishment fee from 10% of loan amount + monthly fee from 2%
A small loan between $500 and $2,000 that can be funded in 24 hours.
6 to 12 months
20% of loan amount + 4% of loan amount each month
A short-term loan from $500 that you can have up to 12 months to repay. All credit histories considered.
up to 12 months
Within 48 hours
20% establishment fee + 4% monthly fee
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.

Compare up to 4 providers

What should you consider about a loan from Rapid Finance?

Having negative marks on your credit file can make it difficult to access finance, but institutions like Rapid Finance can help you find a suitable loan if you have paid or unpaid defaults, discharged bankruptcies, or no financials, and you can also apply for one of its loans if you're self-employed.
You can use a loan from Rapid Finance loan for a range of personal needs, such as purchasing a new car or motorbike. Rapid Finance considers your loan application and works to offer you a tailored solution. Find out if its loan is right for you by reading more about it below.

Five important features of a bad credit loan from Rapid Finance

Rapid Finance’s bad credit personal loans come with a number of features, which comprise of the following:

  • Additional repayments. You can make extra repayments towards your Rapid Finance bad credit personal loan without worrying about paying any penalties. This allows you to pay your loan off sooner and save on interest.
  • Free assessment. You don’t pay any fees for the initial assessment, and you can expect to get a response in a matter of minutes.
  • One point of contact. If you choose to get a bad credit personal loan through Rapid Finance you won’t have to worry about discussing your situation with a new representative each time. This is because a single Rapid Finance specialist looks after your loan requirements from start to finish.
  • Multiple lender options. Rapid Finance works with a number of lenders across Australia and finds one for you after taking your requirements into account. Some of the lenders Rapid Finance works with include Latitude Financial Services, Macquarie, Bankwest, Suncorp, RACV, and Esanda.
  • Repayment flexibility. You can choose to make repayments in accordance with your pay cycle, which can be weekly, fortnightly, or monthly. You get to select this during the application process.

Are you eligible for this loan?

You can apply for a bad credit loan through Rapid Finance if you meet certain eligibility criteria. You should be over 18 years old, a permanent Australian resident and have a regular source of income. You can apply if you have poor credit history or if you don't have financial documentation. You can also apply if you’re self-employed.

How much does the loan cost?

After conducting its initial assessment, Rapid Finance will establish if it can provide financial assistance to you. Until this point, you don’t have to pay any fees. If you decide against proceeding after the approval of your loan, you might have to pay a fee for using Rapid Finance’s services depending on the kind of loan you choose. You get a comprehensive list of all associated fees and charges as part of the quote.

How to apply for a Rapid Finance Bad Credit Personal Loan

You can submit your application online, or speak to a Rapid Finance specialist over the phone. Establish that you meet the following eligibility criteria before you take the next step:

  • You’re at least 18 years old
  • You are a permanent resident of Australia
  • You have a regular source of income

As part of the application process, you have to provide different kinds of information, which includes the following:

  • Details of your Australian driver’s license
  • Residential details
  • Employment information
  • Copies of your last two payslips
  • Details of your monthly expenses
  • Details of all existing liabilities including loans, credit cards, and overdrafts

Individuals with poor credit can consider applying for a Rapid Finance bad credit personal loan, as there are other institutions that provide bad credit loans, compare a few before narrowing down on a suitable one.

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20 Responses

  1. Default Gravatar
    November 19, 2018

    Would need a loan for $2000 but am currently bankrupt any help please

    • finder Customer Care
      NikkiNovember 19, 2018Staff

      Hi James,

      Thanks for reaching out to us about your situation. It’s definitely not the end of the road here and you can find options on our page here. You may also read a quick guide on this page.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


  2. Default Gravatar
    LorraineOctober 9, 2018

    Am I eligible to apply for a loan

    • Default Gravatar
      JoelOctober 9, 2018

      Hi Lorraine,

      Thanks for leaving a question on finder.

      You can apply for a bad credit loan through Rapid Finance if you meet their eligibility criteria. You should be over 18 years old, a permanent Australian resident and have a regular source of income. You can apply if you have poor credit history or if you don’t have financial documentation. You can also apply if you’re self-employed.

      If you would like to weigh your options for short term loans, please click HERE.

      Please send me a message if you need anything else. :)


  3. Default Gravatar
    JoeAugust 17, 2018

    I’m currently bankrupt and need a small loan of $2000 ASAP for a family funeral, I’m employed full time and need help In were can I find the loan catered for my situation.

    • Default Gravatar
      JoelAugust 17, 2018

      Hi Joe,

      Thanks for leaving a question on finder.

      Sorry to hear about that. You can apply for a bad credit loan through Rapid Finance and may get $2000 if you meet certain eligibility criteria. You should be over 18 years old, a permanent Australian resident and have a regular source of income. You can apply if you have poor credit history or if you don’t have financial documentation. You can also apply if you’re self-employed.

      If you would like to see a comparison of lenders who can help you even if you bad credit, please click HERE. Good luck!


  4. Default Gravatar
    minoliJune 6, 2016


    • finder Customer Care
      ElizabethJune 7, 2016Staff

      Hi Minoli,

      You’ve come through to finder.com.au, a financial comparison website and not Rapid Finance. To be eligible for a Rapid Finance loan you need to be eligible to be able to demonstrate you will be able to manage your repayments. As you haven’t earnt an income from your mortgage broking job you may only be able to use your cleaning job as your employment, but Rapid Finance will be able to provide more information.

      You can get a free finance assessment by filling out a form on its website.

      I hope this has helped,


  5. Default Gravatar
    AnnMarch 10, 2016

    Can you tell me if i apply for a loan with rapid finance will it go on my credit history

    • finder Customer Care
      ElizabethMarch 11, 2016Staff

      Hi Ann,

      Every time you apply for credit the application will be listed on your credit file, so this includes Rapid Finance. If the loan is approved this will be listed as well.

      I hope this has helped.



  6. Default Gravatar
    DianaFebruary 24, 2016

    Hi there, We would like to ask if we can apply for a car loan. We have 2 old cars for trade in. We have had a few defaults before and probably we have a bad credit rating. We owned a property but still paying a mortgage. We do not have a credit card or personal loans but just paying our debts. Can we apply for a car loan?

    Thank you.


    • finder Customer Care
      ElizabethFebruary 25, 2016Staff

      Hi Diana,

      Rapid Finance do offer loans for those with bad credit ratings and offer a free initial assessment. If you wish to apply for a loan, head over to their website directly.

      Hope this helps,


  7. Default Gravatar
    JaimieFebruary 1, 2016

    I have I have been out of bankruptcy for a couple of years. I have full time employment and have even paid off a small loan with what I believe is probably a non credit reporting company. I am now looking to get a personal loan. I have had no late payments in the past12 months. Is it possible to get a loan or am I just kidding myself?

    • finder Customer Care
      ElizabethFebruary 2, 2016Staff

      Hi Jamie,

      If you’ve held any credit account, even if it was only a small loan, the details will be listed on your credit file. Rapid Finance does consider discharged bankrupt applicants for loans but each application is on a case-by-case basis.

      I hope this has helped.



  8. Default Gravatar
    TommyJanuary 13, 2016


    I was wondering before I apply, even If I have 1 or mayyyyybe 2 defaults will I get still get approved, as I’m in a great paying Job which means I can service the loan, Cause the last thing I would like is to apply and then I get rejected then an enquiry is then placed on my file. So is this 100%??? I don’t mind paying higher fees I really need to be approved.


    • finder Customer Care
      MattJanuary 13, 2016Staff

      Hi Tommy,

      Thanks for getting in touch. Whilst I can’t comment on the exact criteria and processes that go on behind the scenes of a lender, it might be a good idea to get a copy of your credit file.

      You can order it here for free. This will arm you with more information when it comes to what is on your credit file.

      When you’re ready to apply, please remember to compare a range of loans to make an informed decision.

      I hope this has helped.


  9. Default Gravatar
    lucyOctober 22, 2015

    Hi i wondering if I’m able for a loan I’m on centerlink and work with toy’s r us as well i get $533.00 on centerlink one week and toys r us $500.00 the other week ??

    • finder Customer Care
      ElizabethOctober 22, 2015Staff

      Hi Lucy,

      Thanks for your question.

      Rapid Finance requires that you earn a regular income, so your income from two different sources and for different amounts may not qualify. You will need to get in touch with Rapid Finance to confirm your eligibility.



  10. Default Gravatar
    nitaJune 4, 2015

    do u do finance for people on a pension or disability pension

    • finder Customer Care
      ElizabethJune 4, 2015Staff

      Hi Nita,

      Thanks for your question.

      You’ve come through to finder.com.au, not Rapid Finance, so we don’t actually offer the loans ourselves. Rapid Finance considers applicants earning income via Centrelink, and considers your eligibility for a loan on a case-by-case basis. You can get in touch with Rapid Finance directly or visit their website to submit an application.

      I hope this has helped.



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