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$5,000
Maximum loan amount
Within 24 hours
Turnaround time
10-60 weeks
Term of loan
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Product Name | Speedy Finance Personal Loan |
---|---|
Minimum loan amount | $300 |
Maximum loan amount | $5,000 |
Loan term | 10-60 weeks |
Turnaround time | Within 24 hours |
Available to Centrelink Borrowers? | No |
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. Find out more here: https://www.finder.com.au/coronavirus-financial-help
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:
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.
The process of getting a Speedy Finance Personal Loan begins by an applicant submitting an online loan enquiry. They can expect a representative at Speedy Finance to get in contact with them shortly after. The next step is for the applicant to complete and submit a loan application. Speedy Finance will then review the application and will let applicants know of its decision soon after. Upon approval of the loan, funds will be disbursed into the successful applicant's nominated bank account.
Once a successful applicant receives the loan, they will have to start making repayments in accordance to the contract’s terms and conditions until they have repaid the loan completely with the additional interest payments and fees.
While we don't compare loans from Speedy Finance directly, use the tables below to see how they compare against other short term loans
Speedy Finance’s short-term loans come with a number of features that require attention:
Just how much a Speedy Money loan would end up costing depends on the amount that someone borrows, because what they repay includes interest, and the amount they borrow has a direct bearing on the total interest payable. They'll also have to pay various fees and charges associated with this short term loan.
Keep in mind that loan amounts over $2,000 do not fall under the Government cap of 24% (a 20% establishment fee and 4% monthly fees), so customers will likely pay different amounts for higher loan amounts. The cap for loans up to to $5,000 is a $400 establishment fee and 48% p.a. (including all other fees and charges).
Once Speedy Finance approves a loan application, it provides customers with a loan contract that they can refer to for the loan’s terms and conditions, as well as all associated fees and charges. Only after an applicant goes through this document carefully and understands everything that entering into the loan contract will ential, should they consider accepting the loan.
To apply for a Speedy Finance Personal Loan prospective borrowers have to submit an online enquiry through the Speedy Finance website. Before submitting an enquiry, prospective applicants should first establish whether or not they meet the required eligibility criteria, they must:
As part of the loan application process customers have to provide different types of information so that Speedy Finance can verify their credentials and their ability to repay. Documentation that will need to be provided to Speedy Finance includes the following:
A Speedy Finance Personal Loan may be an appealing option to some borrowers, however there are a number of similar loans on the market that may have more appropriate features for an individual borrower's circumstances, so it’s best that everyone compares a few before applying.