Spot Loans Personal Loan Review

If you're in a spot of financial bother, get a Personal Loan to see you through.

Important information

Spot Loans has rebranded to CapfinDirect. You can read the review of the CapfinDirect cash loan here.

Spot Loans provides different types of loans, and through its personal loans you can borrow between $500 and $3,000. Loan terms vary from 16 weeks to 1 year. You can apply for one of these loans for different reasons, which include, but are not limited to, medical and dental expenses, vehicular expenses, relocation expenses, travelling, and buying merchandise. Spot Loans does not charge anything if your application is unsuccessful, and upon approval it discloses all associated fees and charges upfront. The application process in quick and easy and you can expect access to approved funds overnight.

What to expect when you borrow

The first step is applying online where you have to provide different types of details. The next step is verification, where Spot Loans verifies details of your identity, employment, income, expenses, and also the residency-related documents you provide. As part of the process, you have to provide bank statements for at least 90 days, and you can obtain these online. Upon approval, you can digitally sign the required documents online, but make sure you go through all the terms and conditions before you accept the contract. Once you accept the contract, you can expect the approved funds to transfer to the nominated bank account overnight.

Comparison of Payday Loans

Whilst we don't compare loans from Spot Loans directly, use the table below to see how they compare against other short term loans

Updated November 18th, 2018
Name Product Maximum Loan Amount Term of Loan Cash Deposited In Costs Fornightly 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.

Compare up to 4 providers

Features of a Personal Loan from Spot Loans

Personal loans that Spot Loans offers come with various features, and here’s what borrowers can expect:

  • No security. The Personal Loan that you can apply for through Spot Loans is unsecured, so you don’t have to worry about providing any kind of assets as a guarantee.
  • Low minimum amount. You can borrow as little as $500 through a Spot Loans Personal Loans. The maximum you can borrow is $3,000.
  • Loan term flexibility. Loan term can vary between 16 weeks to 1 year, which gives you the ability to select a term as per your ability to make repayments. A longer loan term, for instance, would result in lower ongoing payments.
  • Cooling-off period. If, for any reason, you are not happy with the loan, you get a 48 hours cooling-off period to contact Spot Loans and refunds the borrowed funds, and this cooling-off period comes into effect after you accept the contract. If you refund the funds within 48 hours, you have no further obligations towards the loan.

What the loan will cost

Once Spot Loan approves your loan application, it presents you with a contract that carries all the terms and conditions relating to the loan. This document gives you a clear picture of what you might end up paying in the form of fees and charges. It is important that you go through these at the very onset so as to avoid surprises down the line. In case you don’t find the list of fees and charges acceptable you have the option of not accepting the contract, and in such an instance, you’re not obligated to Spot Loans in any manner.

Want to apply with Spot Loans? Here's how

Applying for a Spot Loans Personal Loans is easy, and requires little time. Before you submit an application, make sure you meet the eligibility criteria required:

  • You’re at least 18 years of age
  • You’re a permanent resident of Australia
  • You get more than $450 in your bank account in the form of pay, every week
  • You’re not involved in a Part 9 Debt Agreement or bankruptcy

The application requires that you part with different types of information, which includes the following.

  • Personal details like your name, residential address, and number of dependants
  • Your employment status, length of current employment, income frequency, and weekly income
  • Details surrounding your rent, mortgage, debt repayments, and living expenses

While a Personal Loan from Spot Loans can get you money in a hurry, you can also expect the same from a number of other personal loan providers, so take some time to compare a few.

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12 Responses

  1. Default Gravatar
    kalaNovember 16, 2016

    sir i am a poor girl
    i am done by one job but they are not giving salary but now i am in critical position plz help at money and i repay next month plz plz

    • finder Customer Care
      LouNovember 17, 2016Staff

      Hi Kala,

      Thanks for your question.

      I’m sorry to hear about your current situation. At, we strive to help customers like you make better financial decisions.

      If you are looking for a personal loan, you can compare your options here. By clicking on the name of the loan, you’ll be able to know the requirements and eligibility criteria to apply.


  2. Default Gravatar
    RobinJune 30, 2016

    I would like to borrow money to help pay bills

    • finder Customer Care
      ElizabethJuly 1, 2016Staff

      Hi Robin,

      Spot Loans has rebranded to CapfinDirect, which you can read a review of here. If you’d like to apply for a loan with them you can do so directly on their website. You can also compare some of your other loan options on this page.



  3. Default Gravatar
    SallayFebruary 8, 2016

    Am I am existing customer? An can u pls send me ur num

    • finder Customer Care
      ElizabethFebruary 9, 2016Staff

      Hi Sallay,

      You’ve come through to, a comparison website. If you wish to get in contact with Spot Loans, head over to their website for contact details.



  4. Default Gravatar
    YvonneDecember 30, 2015

    I have only just moved into a new job after being in my previous employment for four years. How would I reflect that in my application? I need to apply for a small loan to help us with bond on the next property we are looking to move into.

    • Default Gravatar
      JodieDecember 31, 2015

      Hi Yvonne,

      Thank you for reaching out to a financial comparison website and general information service.

      There is nowhere on the application for Spot Loans to add a previous employer they only ask for the details of your current employer and a contact they can speak to as a reference so to speak, you can contact Spot loans directly if you are concerned. You can also compare other lenders on this page and see if there is another one that may suit your needs better.


  5. Default Gravatar
    December 15, 2015

    My solely income is disability pension fortnightly payments gross is 867.00 and my net disability income is 773.00 fortnightly and I get family tax a&b gross income fortnightly is 713.85 and my family tax a&b net income is 629.70 fortnightly I have 2 small loans rapid loans is 69.20 fortnightly and cash converters is 58.15 fortnightly and I have credit default with cash stop for 360.00 and have no assetts and I want low interest rates and low repayments and long term for 2 or years and the amount I want to borrow is about 3.000 to 4.000 who will give me a loan

    • finder Customer Care
      ElizabethDecember 15, 2015Staff

      Hi Tracy,

      I can’t recommend any lenders to you.

      If you’d like to apply with Spot Loans you can submit an application on its website. You can also find other lenders who might consider you for a loan on this page.



  6. Default Gravatar
    priscillaNovember 3, 2015

    Hello there everyone I really need a loan and please and thank you so much

    • finder Customer Care
      ElizabethNovember 4, 2015Staff

      Hi Priscilla,

      You’ve come through to, as a financial comparison site we don’t actually offer any loans ourselves. If you’d like to apply with Spot Loans you can submit your application on its website.

      I hope this has helped.



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