Cash in Hand Loans

Lenders will only factor wages deposited into your account by an employer or other consistent income source. If you’re a worker earning cash-in-hand wages and needing a loan, this income won’t count towards a same-day loan.

Your lender will have a series of eligibility requirements you’ll need to meet to qualify for a loan. These include:

• Over 18 years old
• An Australian resident
• Earning a stable income
• No active payday loans
• Active phone number and email
• Access to your 90 days of bank statements via internet banking

In most cases, you should receive your money on the same day you apply; however, this will ultimately depend on several factors, including when you apply and your bank’s cut-off times and payment transfer speeds. Applying earlier in the day or week will increase your chance of same-day approval as lenders only process applications during standard business hours, meaning late-night processing isn’t available. Many banks have payment cut-off times, such as 6pm or on weekends, so the earlier you apply, the better your chances of a payment being made before the cut-off.

Yes – so long as your government benefits aren’t temporary (like JobSeeker). Fixed Centrelink benefits such as the aged pension and single parent payments are generally accepted as sole forms of income by most lenders. Other accepted payments include:

• Carer’s payment
• Child care subsidy
• Disability pension
• Family Tax Benefit Part A and B
• Veteran’s pension

A range of factors can impact your ability to keep on top of your loan payments, including a divorce, a death or a job loss. It’s best to contact your lender as soon as your circumstances change. They can take steps to help you get back on track, including temporarily reducing or restructuring your repayments. Entering into a short-term arrangement is better for your credit score than defaulting on your loan entirely.