Payday Loans No Credit Check No Employment Verification

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Last updated on August 19th, 2022 at 09:54 am by Kurtis Eichler

Get payday loan approval with no employment verification

Are you chasing loans with no credit or employment checks required? If you need some fast cash, Savvy can connect you to a flexible lender who can have you approved and funded as soon as the same day you apply.

Our 100% online application process is streamlined to make applying for a loan easy and hassle-free. Whether your car needs some repairs or you need a new washing machine, you can get a payday loan with Savvy today and cover the costs today.

Can I get a payday loan with no credit check or employment verification?

You can be approved for a payday loan without the need for employment verification, as long as you’re earning a steady income. However, responsible direct lenders won’t approve your application without running a credit check.

There’s no need for a direct lender to verify your employment if you can prove you’ll be able to comfortably afford the proposed repayments on your loan. Most lenders allow you to factor in a mixture of income streams, not just wages, when you apply for a loan. These can include fixed Centrelink benefits, investment revenue and superannuation withdrawals.

While employment verifications usually aren’t generally conducted, there are times when Australian short-term lenders will still request proof of your employment. If your income is a little inconsistent because you work casually or you’re self-employed, your lender may need to verify your employment.

Around the same time your lender runs a check of your finances, they’ll also do a credit check. Lenders concentrate on your broader borrowing history and your ability to repay your loan, rather than your score, when running a credit check. This will involve checking factors such as:

  • Any credit products you have outstanding
  • Your repayment history
  • Credit enquiries you’ve made
  • Court judgements, bankruptcies and debt agreements
  • Defaults

If you’re searching for an instant cash loan with no credit checks or paperwork because you have bad credit, the good news is that you can stop looking. Even a very bad score is unlikely to stop you from getting approved if you can show you’re able to afford your repayments. In line with responsible lending obligations, responsible lenders don’t offer ‘no credit check loans‘, as they want to be 100% sure you can afford the loan you want.

What details and documentation do I need to provide?

If you need cash today, you’ll be required to provide some details and documents. These will be used to prove your identity and also show a lender you can afford your proposed repayments.

  1. After you’ve chosen a loan amount between $300 and $5,000 and selected why you need it, you can take the plunge and start your loan application. You’ll be asked to share some details with your lender, including:
  2. Personal details such as your name, date of birth and contact details.
  3. Employment information such as who you work for, your tenure, job title and industry you work in.
  4. How much you pay in rent/board/mortgage, your residential status and address
  5. Income details such as how much you earn after tax, the frequency of your pay and the date of your next pay.
  6. Whether Centrelink benefits make up half or more of your income

As part of your online payday loan application, you’ll be requested to upload digital copies of your personal ID to your lender’s secure portal so they can verify your identity. Your lender will generally ask you to upload any of the following:

  1. Australian driver’s licence
  2. Australian passport
  3. Medicare card
  4. Proof of age card

If you don’t have some of these forms of ID, you may be able to supply a mix of the following:

  1. Birth or citizenship certificate
  2. Foreign driver’s licence or passport
  3. Pensioner concession card
  4. Utility bill or council rates notice or a copy of a recent tax office assessment notice

Once these details are provided, you should be able to receive an instant decision on your loan. If your application passes your lender’s automatic requirements, they’ll conduct some further credit and financial checks when considering you for formal approval.

How are fees calculated on an online loan?

Payday loans come with an establishment fee and monthly fees which are calculated based on the size of your loan amount. The way these are calculated as followed:

Loans between $300 and $2,000:

  • An establishment fee is calculated at 20% of your borrowing amount. For example, if you took out a loan of $1,500, this fee would be $300.
  • Monthly fees are calculated at 4% of your loan amount. For instance, on a loan of $1,000, you would pay $40 every month on top of your regular repayments.

Loans between $2,001 and $5,000

  • The establishment fee is charged as a flat fee of $400.
  • Monthly fees are capped at 48% for the year.

You can save money on monthly fees by choosing a shorter loan term, which in turn will help you repay your loan faster. However, it’s important to note that this could substantially increase your repayments. For example, if you took out a $2,500 over 12 months instead of 18, your repayments would rise by $80 per month but you’d save about $600 overall on monthly charges.

Frequently asked questions about payday loans

Can I include cash in hand wages on my payday loan application?

No – you can’t factor cash in hand wages towards your loan. Lenders will only assess income deposited directly into your bank account when you apply for a loan.

Can I apply if I have unpaid defaults on my credit file?

It’ll be harder to get approved for a loan if you have outstanding defaults on your credit file, as most lenders are unlikely to consider you for a loan if you have unresolved debt. Nevertheless, there may be some lenders on the market willing to work with you.

How fast can I receive my payday loan cash?

Usually, you’ll receive your funds on the same day you’re approved. However, this will depend on the timing of your application and how fast your bank processes payments. Lenders don’t approve and fund applications day and night, so submitting your application earlier in the day or week improves the odds of you getting a same-day payout. Banks also have varying payment transfer speeds and operating hours outside of which transfers may not be processed, so getting approved earlier in the day will improve the chance of getting your money that day.

Can I top up my same-day loan during my loan term?

You won’t be able to top up your loan or take out another loan while you’re already repaying a similar loan. However, there are no early repayments fees on payday loans, which will allow you to clear your existing debt and take on a new loan.

Can I apply if I have no job and collect Centrelink benefits?

Yes – don’t turn to pawn shop loans. You can apply for a loan if you have no job and earn ongoing government benefits. Eligible Centrelink benefits include:

  • Age, disability and veterans’ pensions
  • Carers payment
  • Child care subsidy
  • Family Tax Benefit Part A or B
  • Single parent payment

A temporary payment such as JobSeeker can’t be used as assessable income if it’s your only form of income.