Compare unsecured bad credit loans

Find out everything you need to know about unsecured loans for applicants with less than perfect credit histories.


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While personal loan and credit card lenders often won't approve someone with bad credit, payday loans are a type of unsecured loan that could be available to someone with a low credit score. However, borrowers with bad credit are still required to meet the other eligibility criteria to prove that they can afford to repay a loan before they are able to get approved. While payday loans may seem convenient for people in need of finance with less than perfect credit histories, they are also an expensive form of credit. Therefore, it's important to compare your options and understand the risks involved before applying.

Use this guide to compare payday loans that are available to people with bad credit, to learn more about the fees and features as well as the eligibility criteria that must be met.

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. Find out more here:

⚠️ Warning about Borrowing

payday-warningDo 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.


Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-14 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Go to site More info

Compare loans for people with bad credit

Data indicated here is updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-14 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 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Nimble Short Term Loan
62 days to 9 months
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 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + loan management fee of up to $399 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
3-12 months
1 business day
Establishment fee 20% of loan amount + monthly fee 4%
A small loan between $500 and $2,000 that can be funded in 24 hours.

Compare up to 4 providers

What is an unsecured bad credit loan?

A payday loan is a small, short term loan that doesn't require borrowers to use an asset (such as a car or property) as collateral. Some payday lenders consider people with bad credit but due to the higher risk for them, the loan may have a higher interest rate.

What types of unsecured bad credit loans are available?

There are a few different types of unsecured bad credit loans that you may want to consider:

  • Payday loans. These short term loans usually vary between amounts of $100 and $2,000. Borrowers must usually repay the amount in fixed repayments that line up with their pay schedule (such as fortnightly) over a loan term of 16 days up to 12 months. Some payday lenders don't conduct credit checks, but will still consider your ability to repay the loan. All applications for loans (whether approved or denied) are also listed on your credit report.
  • Debt consolidation loans. If you're struggling with multiple debts, you could consider combining them under one new account with a debt consolidation loan. This could help reduce interest costs and the stress that comes with managing multiple accounts. Although some lenders may consider applicants with bad credit, it's important to check the eligibility requirements before applying.

What to compare before applying for a short term loan

Before applying for one of these loans, consider the following features, fees and repayment conditions that apply:

  • Fees. Loans up to $2,000 can charge up to 20% for an establishment fee and a 4% monthly fee. For loans between $2,001 and $5,000 lenders can charge a one-off fee of $400 and a maximum annual interest rate of 48%. For loans over $5,000 lenders cannot charge more than 48% which includes all interest and fees.
  • The lender. It's also important to check the lender's reputation before you borrow from them. Before applying, read through the terms and conditions, ensure the fees and features are clearly listed, check customer reviews and try to contact the lender's customer service team to see if they're transparent and easy to get in touch with.
  • Repayments. Payday lenders usually require borrowers to make regular repayments in accordance with the frequency of their income. For example, if a customer is paid fortnightly, they will be required to make repayments every two weeks around the time that they receive their pay. It's important to check if you can afford the regular repayments before applying because lenders will charge a late payment fee if you can't pay it on time.
  • Loan term. Short term borrowers usually must repay their loan within a loan term of 16 days up to 24 months. Although a longer loan term will give you more time to repay the loan, it means you'll have to pay more in monthly fees for the duration of the loan. Some lenders allow customers to repay their loan in full without paying any penalty fees, though.

How to apply

If you've compared your options and confirmed that you can afford to make the repayments, you can apply for a loan online or in a branch. Before you do, check if you meet the eligibility requirements and that you have the necessary information to complete the application.

Eligibility criteria

  • Age. Applicants must be over 18 years old.
  • Income. You'll need to confirm your employment status, your employer's name and their contact details. Some lenders will accept applicants who receive Centrelink payments but it usually can't make up more than 50% of the borrower's total earnings.
  • Residency. Some lenders require applicants to be permanent Australian residents.

Information to provide

  • Personal details. This includes full name, date of birth, residential address and contact information.
  • Loan information. Request the loan amount and confirm the purpose of the loan.
  • Finances. You'll be required to confirm your income, expenses and liabilities (such as other loans or credit card repayments) by providing recent payslips and bank statements.

If you have the necessary information, the application shouldn't take longer than a few minutes to complete and you should receive a response shortly after submitting it. If approved, you may receive the funds within an hour or one business day.

A payday loan is an unsecured form of credit. Although some lenders consider applicants with bad credit, it's important to weigh up the fees and features as well as the eligibility requirements to ensure this is the right option for you.

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58 Responses

    Default Gravatar
    MaryNovember 10, 2017

    I’m in need of a loan please, I have a bad credit file and I always get decline when I apply for a loan I really need a short-term loan please if there’s any help or good lender out there. I’m unemployed and on Centrelink benefits.

      Avatarfinder Customer Care
      RenchNovember 10, 2017Staff

      Hi Mary,

      Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      If you make several credit enquiries in a short space of time, for example if you file multiple personal loan applications in the space of a couple of months, it indicates to lenders that you may be under financial stress. This can in turn affect your credit rating. Applications for credit, including loans, credit cards and more, are listed on your credit file for five years. These listings are included regardless of whether or not your application was approved.

      It’s quite difficult to qualify for a credit card in Australia if you have bad credit, so your only option may be to use a debit card instead. Debit cards allow the same convenience as credit cards but with the key difference that you spend your own money rather than funds from a credit provider. You can also access prepaid debit cards with some short-term loans.

      You can get this info from this page.

      You can also have a look at these pages to compare other options:

      Hope this information helped.

      Best regards,

    Default Gravatar
    ValmaAugust 11, 2017

    I was wondering if I am able to get a bad credit personal loan for $5,000. I did a credit check and on it was stating that there was a court case for my rates which was a lie as it never went to court and this was over 2years ago. I had made an agreement with the council for paying my rates and I have proof that I am up to date. I DO NOT WANT to be refinanced for my home loan just for $5,000 as I am very happy with my lender. I built a granny flat at my son’s where I will be moving into soon after my house is fixed and ready for rental but there were a few extra costs for the build and am now low on funds for the rest of the fixing and the big expense of the plumber connecting the granny flat to the house’s septic tank and water. Please could you give me an answer if you can help. Thank you

    Default Gravatar
    ColinApril 20, 2017

    Hi ..I want to borrow $3000 for jet ski repairs . I have a few defaults on my history . And I’m on a centerlink disability pension .but I have a 2006 Mitsubishi triton worth $15.000 that I am willing to use as security .. can you help ?

      Avatarfinder Customer Care
      DeeApril 20, 2017Staff

      Hi Colin,

      Thanks for your question.

      If you are receiving Centrelink, the lenders on this page may consider you for a loan.

      Kindly check the eligibility criteria and terms and conditions of the loan product you are interested in before submitting your application.


    Default Gravatar
    MarcJuly 29, 2016

    Hi would really like to get a loan..would like to know how

      Default Gravatar
      SamDecember 30, 2016

      I would like to apply for a personal loan for the amount of $3000,00

      Avatarfinder Customer Care
      DeeDecember 30, 2016Staff

      Hi Sam,

      Thanks for reaching out.

      The maximum amount that you can borrow with any of the lenders listed above is $2,000.

      You can check for lenders that may allow you to borrow $3,000 on this page. Kindly note that certain eligibility criteria apply, so please check them out before submitting your application.


      Avatarfinder Customer Care
      ElizabethAugust 1, 2016Staff

      Hi Marc,

      You can compare your unsecured bad credit loan options on the page above. If you’d like to know any more information on lenders or the specific loan options, click on the name of the loan to read the review. Once you find a loan you’re eligible for and that you want to apply for, click “Go to Site” to submit your application.

      I hope this helps,


    Default Gravatar
    DanielJune 2, 2016

    My family’s 7 seatet territory was crashed into 2 weeks ago insurance is offering to pay $9;500 for damages I can’t receive all the funds because we still owe on the car. This money will go to ANZ. We still have $5000 savings and need to purchase another safe reliable 7-8 seater for the family. Currently I have a couple of defaults and don’t know who to ask for a car loan

      Avatarfinder Customer Care
      ElizabethJune 3, 2016Staff

      Hi Daniel,

      I can’t recommend a specific lender to you, but you can find some of your larger bad credit personal loan options on this page and this page, and there is also a bad credit car lender you can add into your comparison on this page.

      I hope this information will help.



    Default Gravatar
    DesperateApril 10, 2016


    I need a bad credit unsecured personal loan or possibly a no credit check personal loan for urgent car repairs of up to $5000.00 over as long a repayment period as possible to make repayments more manageable. Ideally over a 36 month period would be ideal. As mentioned my credit rating has not moved over a number of years and has always been a hindrance in applying for standard bank loans. I work full time and have been in the same job for 8 years. Any thoughts on my present situation? Many thanks.

      Avatarfinder Customer Care
      ElizabethApril 11, 2016Staff


      You can find a list of options for bad credit personal loans up to $5,000 here. I can’t recommend any specific lender to you but you can click through to any lender’s review page to find out more about their offerings, as well as the eligibility criteria, by clicking on the name of the loan. You can also click “Go to Site” to head to their website directly and apply.

      I hope this will be of use.



    Default Gravatar
    WorriedMarch 13, 2016

    Wondering if you might be able to help me as I’m currently building a new house with the inheritance from my father as my grandma passed away we have paid 90%, of it with cash but now when it comes to finish we be $15,000 short and I wondered if we be able to get a loan only issue I have a stat 9 against my name which I’m currently paying off and two paid debts on my credit file will I be able to get a loan to get the last 15,000 to get the keys for the house plus pay out the stat 9 which would mean I need $20,000

    I’m currently working and getting Centrelink due to looking after my sister and she owns the land and house with me I believe her credit file is clear and she’s on disability pension

    Could we get a loan together

      Avatarfinder Customer Care
      ElizabethMarch 14, 2016Staff

      Hi Worried,

      Thanks for your enquiry.

      As you’re purchasing a property you may want to consider your secured bad credit options. These are the only brands we have available for comparison offering these types of loans but there are others available that you can search for online if neither of these is suitable.

      We have pages with information on joint personal loans on this page that you can also consider. Again, as the loan will be secured to a home you may be eligible despite your bad credit, but get in contact with the lender directly before applying.

      I can’t offer personal advice but I hope these pages have some information that can help.



    Default Gravatar
    DesperateDecember 4, 2015

    Hi, I’m currently on unpaid maternity leave from a full-time job. I do receive centrelink(It isn’t much). Wondering if I am eligible for a loan for Christmas and which company would be best?


      Avatarfinder Customer Care
      ElizabethDecember 7, 2015Staff

      Hi Desperate,

      Thanks for your question.

      I’m unable to recommend a specific lender to you, but you do have a few lenders who will consider you for a loan with Centrelink as your sole income. You can find a guide on borrowing while unemployed on this page and a list of lenders who you may be eligible with.

      I hope this will help.



    Default Gravatar
    samanthaOctober 28, 2015

    I am in a need of a payday personal loan in a very bad way can you please send me an email please and thank you.

      Avatarfinder Customer Care
      ElizabethOctober 28, 2015Staff


      Thanks for your question.

      You’ve come through to, as a financial comparison service we don’t actually offer any loans ourselves. To apply with any of the lenders in the table above please click ‘Go to Site’ after you have reviewed the eligibility criteria, which you can see by clicking through to the review page.

      I hope this has helped.



    Default Gravatar
    rosa sansoneJune 19, 2015

    i am legiable for a payday loan please need for emergency matters.thank you for i am very desparate ineed of a loan please.

      Avatarfinder Customer Care
      MattJune 19, 2015Staff

      Hi Rosa,

      You’ve come through to – an online comparison service, not a lender.

      Each review page of the loans show the requirements and eligibility criteria needed to apply. If you’d like to read more about loans for emergencies, please read our guide here.

      I hope you find what you need


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