Same Day Personal Loans

CommBank and Westpac offer same day personal loans even if you're not an existing customer.

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To boost your chances of getting a same day personal loan, apply as early as possible. The sooner you submit your application the sooner you can get approved so you can receive the funds on the same day. Make sure you have all the necessary documents for your loan application before applying. These documents can include bank statements, payslips, 100 points of identification as well as utility bills or statements.

Different ways to apply for a same-day personal loan

Different lenders offer various types of same-day loans. Understanding the differences between the assorted same-day personal loans available will help you to choose the best lender to suit your circumstances – and give you the best chance of a successful application.

  • Same-day funding for new and existing customers.
    Some lenders will process loan applications quickly for all applicants, regardless of whether or not they are existing customers.
    Suitable for: People who do not have a relationship or history with a particular lender.
    Lenders offering this type of loan include: Commonwealth Bank and Westpac.
  • Same-day loans for existing customers.
    Some lenders will only offer same-day personal loans to their existing customers, and will not consider applications from new customers. Banks and other lenders use the data that they already hold on their existing customers to make a decision about their suitability for a same-day loan.
    Suitable for: People who have a good history with a participating lender.
    Lenders that offer this type of loan include: Bankwest and NAB. Short-term lenders such as Nimble, Wallet Wizard and MoneyMe also have "Member's areas" that can guide existing customers through a quicker application process.
  • Short-term lenders.
    Lenders that offer small, short-term loans can usually have funds to you on the same day. Loan amounts are usually between $100 and $2,000, although some lenders offer up to $5,000. Loan terms are usually between 16 days and one year but typically are around three months.
    Suitable for: People who do not have a relationship with a lender and who would prefer not to apply through a major bank. People who are looking to borrow less than $2,000 with a loan term of less than a year.
    Lenders that offer this type of loan include: Nimble, MoneyMe, Sunshine Loans and Ferratum. Compare them in the table below.
  • Line of credit or overdraft
    A personal overdraft or line of credit is a small funding option that banks usually offer to their existing customers. Overdraft is attached to your transaction account and allow you to overdraw up to a limit, which you repay at a variable rate. A line of credit works in the same way but sits in a separate account.
    Your bank can usually organise a line of credit within the hour.
    Suitable for: People with a good relationship with a participating bank.
    Lenders that offer this type of loan include: Westpac, which offers a Flexi Loan that allows you to access your credit 24/7. Interest is paid on the outstanding balance and is charged at a variable rate.
  • In-branch applications
    Some lenders offer automatic approval and provide same-day funding to customers who apply in a branch. You will generally need to provide a form of identification, bank statements and details of your finances including your income, assets, credit accounts and debts. The bank can then verify your documents in person.
    Suitable for: People who are willing and able to appear in-person at a branch and bring hard-copy financial and identification documents.
    Lenders that offer this type of loan include: MyState offers instant decisions and same-day loan facilities for people who drop into a MyState branch. This includes secured personal loans, unsecured personal loans and overdrafts.
  • A secured same-day personal loan
    This is quite a unique type of personal loan, with lenders allowing you to use a valuable asset as security. Types of assets can include jewellery, gold, watches, antiques, luxury boats, luxury cars and fine wine collections. The lender usually requires a valuation of the product and then offers a loan sum based on the asset value.
    These types of loans usually have a quick turnaround time, with some lenders offering the loan amount on the same day.
    Suitable for: Someone with a valuable asset they are willing to use as security against a same-day loan.
    Lenders that offer this type of loan include: Assetline specialises in these types of loans and offers same-day funding following an ID check and the appraisal of your valuable asset. Assetline offers loans of varying amounts with loan terms of up to three months.

Which banks offer same-day personal loans?

LenderHow much you can borrowConditionsAvailable to new customers?Find out more
CommBank$4,000 to $50,000Apply before 12pm Mon-Fri, not available for secured loans.yesCompare
NAB$5,000 to $55,000Be approved in-store by 2pm and have had an active NAB account for 6 months.NoCompare
Bankwest$3,000 to $100,000Apply and be approved before 4pm WST and have at least 3 months salary deposited in a Bankwest account.NoCompare
Westpac$4,000 to $50,000Once your loan application is approved you can have access to the funds within 15 minutes of accepting the contract.yesCompare

Same-day personal loans comparison

If you have weighed up your options and are considering a same-day personal loan, but lack perfect credit history, a short term loan might be an option. Compare loans below.

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
$2,000
9-14 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
$2,000
62 days to 9 months
1 hour - conditions apply
$15
20% of loan amount + 4% of loan amount each month
$372
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Fair Go Finance Small Loan
$2,000
3-12 months
24 to 48 hours
$35
0% Establishment Fee + monthly fee 4%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours. Note: Save up to $400 when you apply for a small loan from $500 to $2,000 and are approved for a 0% establishment fee. T&Cs apply.
Jacaranda Finance Personal Loan
$10,000
9-24 months
Under 1 hour - conditions apply
$35
$0 - $1,000 depending on credit
Borrow up to $10,000 and get access to your funds in as little as 1 hour.
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Alternative types of same-day loans to consider

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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What should you consider before applying for a same-day personal loan?

While same-day personal loans can seem like a quick and convenient option to access money, their fast turnaround time does not mean that you should give these loans any different consideration than you would other loans.

Consider the following before applying for a same-day personal loan:

  • Your personal financial situation. Do you know what the loan repayments are likely to be? Can you afford to make the repayments?
  • Fees and costs. Are all fees and costs transparent? Do you know exactly how much the loan is going to cost you overall? Government regulations state that lenders offering loans of less than $2,000 can charge a maximum of 20% as an establish fee and 4% per month for the life of the loan. Lenders are not permitted to charge direct debits fees for new loans taken out after 1 February 2017.
  • Interest rates vs fee-based. Some lenders change interest on short term personal loans, which others – such as Moneyspot – are entirely fee-based. These differences can make it more difficult to compare loans from different lenders.
  • Information required to apply. Even lenders who are solely based online and who offer instant approval will generally require you to upload financial information during the application process. Understand the information and paperwork you’ll need beforehand, as ordering bank statements or finding payslips could increase the amount of time taken to submit your application.
  • The loan’s purpose. Same-day loans have a sense of urgency about them. Once the loan funds have been spent and the repayments fall due, will you regret taking out the loan? Consider the difference between using same-day loans for emergency medical expenses or to fund a weekend away.
  • The loan’s features. Does the loan have a fixed or variable rate? How does the interest rate compare to other similar lenders? Are there incentives or penalties for early repayments?
  • Alternative forms of credit. Would it be cheaper to put this expense on a credit card or to take out a personal loan?

What documents will you need in order to apply for a same-day personal loan?

Australian law requires lenders to satisfy themselves about your financial circumstances before giving you a loan.

You may be asked to provide the following documents:

  • Bank statements for the past 90 days
  • Payslips and/or Centrelink statements, or your last tax return to verify your income
  • Mortgage or rental property statements
  • Utility bills or statements
  • 100 points of identification if you are a new customer

Looking for more options?

A loan for the weekend

Check out your weekend loan options.

Consolidate debt

Look at debt consolidation options.

How to apply for a same-day loan

To apply for any of the same-day personal loans offered on this page, simply click "Go to Site" to apply. The eligibility conditions will differ between lenders, but generally you will need to be over the age of 18, an Australian citizen or permanent resident and have a good credit rating.

Related reading: Credit Cards vs Personal loans

Picture: Shutterstock

More guides on Finder

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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13 Responses

    Default Gravatar
    SamuelJuly 18, 2017

    I need a 10,000 dollar loan to pay off debt collectors For a bank loan can I get any help?

      Default Gravatar
      LiezlJuly 18, 2017

      Hi Samuel,

      You may be eligible to apply for a loan if you meet the eligibility requirements set by the lenders. Generally, you will need to be over the age of 18, a permanent resident, and have a good credit rating. Please select the “More” or “Go to Site” button to get more information about the loan and the eligibility criteria. Moreover, check our list of lenders who offer up to $10,000 for people who have a good or bad credit rating.

      Just a reminder, please make sure you confirm that you meet the eligibility criteria before you submit your application, as rejected credit applications can have a negative impact on your credit score.

      Cheers,
      Liezl

    Default Gravatar
    DebraJanuary 3, 2017

    Need to speak to someone about refinancing

      Avatarfinder Customer Care
      MayJanuary 3, 2017Staff

      Hi Debra,

      Thank you for your inquiry.

      You may want to check our refinancing personal loan page if you would like to discuss your eligibility or options with a lender. You can select the ‘Go to site’ button if you wish to apply, but make sure you review the criteria and eligibility requirements before doing so.

      Hope this helps.

      Cheers,
      May

    Default Gravatar
    DollyJuly 7, 2016

    Can i get a loan of rs.10000/- on my account on the same day when i apply

      Avatarfinder Customer Care
      ElizabethJuly 7, 2016Staff

      Hi ammulu,

      Unfortunately the lenders on this page can only lend in Australian dollars and you’ll only be eligible if you’re currently residing in Australia.

      Sorry I couldn’t be of more assistance,

      Elizabeth

      Default Gravatar
      DollyJuly 7, 2016

      that’s ok … and thanks…

    Default Gravatar
    bennoOctober 12, 2015

    Hello Iis there any other I’d I can use I haven’t got any of them

      Avatarfinder Customer Care
      ElizabethOctober 13, 2015Staff

      Hi Benno,

      Thanks for your question.

      You can find a full list of payday loans that you can compare and check your eligibility. If you’re looking to apply with any of them you can submit an application on your chosen lender’s website. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      I hope this has helped.

      Thanks,
      Elizabeth

    Default Gravatar
    AnthonyAugust 28, 2015

    Can i get a loan im on centerlink currently bankrupt family friend willing to go garontor owns his house currently employed

      Avatarfinder Customer Care
      ElizabethAugust 28, 2015Staff

      Hi Anthony,

      Thanks for your question.

      There are some lenders who may be able to approve you for a loan. You can find out more about borrowing on Centrelink and compare your options. You can also compare a range of loans for discharged bankrupts and the eligibility criteria they have. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      I hope this has helped.

      Thanks,
      Elizabeth

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