Urgent cash loan couple

Urgent cash loans

Get fast access to the cash you need to overcome a short-term financial hurdle.

Sometimes life throws you a curveball and you don’t have the financial capacity to cope. It could be an illness or injury, expensive car repairs or just a short-term cash flow problem when several unexpected bills drop into your inbox at the same time.

When this happens, you might need to find an urgent loan to help pay your bills and get your finances back on track. Compare short-term loan options below to find out what finance options are available when you need money in a hurry.

How does an urgent loan work?

An urgent loan is a short-term loan designed to provide the funds you need in an emergency. The money can be used for just about any purpose, from urgent car repairs to paying essential bills, and must be repaid during a term ranging from 16 days up to one year. Although a good credit history makes it easier to gain loan approval, some lenders are also willing to offer urgent loans to borrowers with bad credit.

There are three types of urgent loans available to Australian borrowers:

  • Short term loans. Also known as ‘Payday loans’ are loans of between $100 and $2,000, and they are usually paid back in line with when you receive your regular income. These loans come with fixed fees that are regulated by the Australian government, consisting of an establishment fee of no more than 20% of the loan amount and a monthly fee worth 4% of the loan amount.
  • Unsecured short-term loans. These types of personal loans do not require you to offer any asset as collateral for the loan. Usually available with a minimum loan term of one year, unsecured short-term loans require you to meet strict lending criteria and come with higher interest rates and fees than secured loans.
  • Secured short-term loans. Secured personal loans allow you to borrow up to $10,000 when you offer an asset, for example your car, as security. Because there is less risk for the lender, you can typically access lower interest rates and fees.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
Security Logo

100% confidential application

Sunshine Short Term Offer

A short term loan with a fast and easy application available to those with good or bad credit. You can apply today and get approved for up to $2,000.

  • Loan amount: $2,000
  • Loan term: 9-15 weeks
  • Turnaround time: 30 minutes (conditions apply)
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Income requirement: 50%+ of income cannot be from Centrelink
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks
Go to site

Loans you can compare today

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 urgent loans

Urgent loans usually include the following features:

  • Short loan terms. You will typically have between 16 days and 1 or 2 years to pay back the money you borrow.
  • Loans from $100. If you choose a loan from a payday lender, loan amounts range from $100 up to $2,000. Depending on your financial circumstances and the lender you choose, it may be possible to borrow more through a secured or unsecured short-term loans, with amounts of up to $10,000 available.
  • High fees. Short-term loans also tend to attract higher fees than traditional personal loans. Look for establishment fees and ongoing monthly fees when comparing loans.
  • Fast application and approval. As these loans usually involve borrowing a small amount for a short period, many lenders offer fast and easy online applications. Some lenders can also offer instant loan approval and transfer the funds into your bank account within one business day.
  • Missed repayment penalties. One final feature you should be aware of with urgent loans is that lenders usually impose strict penalties if you miss a repayment. Missed repayment fees can be substantial and could lead you further into debt.

Pros and cons of urgent loans

Before deciding whether an urgent loan is the right solution for your financial problems, consider the benefits and drawbacks of this finance option.


  • Easy to apply. Urgent loans are quick and easy to apply for, with many lenders even offering a simple online application process.
  • Quick turnaround time. Urgent loans can be approved urgently, often giving you access to the funds you need within one business day. This guarantees fast access to money when you need it most.
  • Bad-credit borrowers accepted. A bad credit history won’t necessarily stop you from getting an urgent loan, as some payday and personal loan lenders are willing to offer finance to bad-credit borrowers.
  • Cap on fees and rates. Restrictions apply to the amount lenders are able to charge in fees.


  • Expensive. Short-term loans, especially payday loans, have high fees and high interest rates. Even if you’re only borrowing a small amount, the total cost to repay your debt in full could be much larger.
  • Can be risky. The high cost of an urgent loan can actually end up leading you deeper into financial difficulty. The payday lending sector is also notorious for attracting unscrupulous lenders, so you need to carefully read the terms and conditions before applying for a loan.

Things to avoid about urgent loans

Urgent loans can help you get out of a tight spot and provide the money you need to get your finances back on track. However, they also come with a few risks attached, and it’s important to be aware of these dangers before signing up for a loan.

Problems to be wary of include:

  • Taking on too much debt. If you’re already in debt, borrowing even more money may not be the best solution to your financial problems. Make sure you’re aware of all the risks associated with taking on additional debt and that you can afford to repay whatever you borrow.
  • Applying for too many credit products. Applying for multiple credit products in a short space of time can have an adverse affect on your credit file. Keep applications to a minimum and only apply for loans that offer a good chance of approval.
  • High fees. Despite the fact that fees on payday loans are capped by the Australian Government at 24% of the loan value (20% establishment fee and 4% monthly fee), they’re still quite high. Make sure you can afford the total cost of a loan before you apply.
  • Short repayment terms. Urgent loans have short repayment terms – sometimes only 16 days. Before applying for a loan, you need to be certain that you will be able to repay the full loan amount plus any interest and fees within the specified time frame.

How to apply for an urgent loan

Many urgent loan lenders offer online applications to make it as quick and easy as possible to apply for a loan. You’ll need to check that you meet a few simple criteria before applying, such as:

  • You must be at least 18 years of age
  • You must be a permanent Australian resident
  • You must be in paid employment and earn a minimum income

If you meet these criteria you can then apply online by supplying:

  • Your name, date of birth and contact details
  • Proof of ID
  • Recent payslips and bank account statements
  • Information about your income, employment, assets and liabilities

Loan applications are typically assessed quickly, with some lenders transferring the loan funds into your account within 24 hours.

Frequently asked questions about urgent loans

There are several viable options to choose from if you need money in an emergency. However, make sure you closely consider each potential urgent loan option to make sure the loan you choose is a good fit for your financial situation.

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
Ask a question
Go to site