Loans with No Credit Checks Australia

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Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on September 12th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

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$500
$50,000


Paid in 60 mins if approved*
Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on September 12th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Worried about bad credit standing between you and loan approval? If you’re searching for no credit check loans because you think bad credit may hold you back, you don’t need to worry. Savvy is partnered with credible Australian lenders to help you get another shot at loan approval.

Our flexible partners focus on your present, rather than your past, when considering you for approval. Enjoy a fast application process and a quick outcome and apply right here to get a second chance at a loan today.

Can I get a loan with no credit check in Australia?

The short answer is no – responsible lenders don’t offer ‘no credit check’ cash loans or guaranteed approvals on loans, no matter what. Licensed lenders in Australia have responsible lending obligations, so they’ll always make sure a loan is manageable and won't just approve you for a loan with no questions asked.

If you're searching for guaranteed approval or ‘no credit check’ loans because you have bad credit, though, the good news is that a poor credit score won't be a major issue standing in the way of approval with this type of loan. Direct money lenders prefer to review your wider borrowing history, rather than focus solely on your score, when you apply for a payday loan. They’ll do this when considering your application for formal approval after you receive an instant outcome.

To be considered for instant approval, you’ll also need to satisfy several eligibility criteria. These are generally the same from lender to lender and include:

  • Over 18 years old
  • Earning a steady wage
  • A permanent Australian resident or citizen
  • Working mobile number and email address
  • Easy access to 90 days’ worth of online bank statements
  • No active payday loans or similar debts

How much can I borrow with a small loan?

If you need some emergency cash, you can borrow between $2,050 and $5,000 depending on how much you can afford to repay.

The core reason credible lenders don’t offer ‘no credit check’ loans is that they want to know you can easily manage your repayments. As such, they’ll review your borrowing power to make sure you can comfortably afford the loan you want. Your borrowing power is what your lender deems you able to afford. It’s made up of a variety of factors, including:

  • What you earn and spend
  • Any outstanding loans or other liabilities
  • How much money you have saved
  • Any dependents you have
  • Your wider borrowing history

Along with a credit check, your lender will request read-only access to your online bank statements to verify your income and expenses. If this runs smoothly, you should be able to receive formal loan approval soon after.

How long can I take to repay my small loan?

You can take up to two years to repay your fast payday loan, with terms as short as 16 days available. The value of your regular repayments will vary depending on the term you choose. For example, if you choose to repay your $3,000 loan over 15 months instead of 12, your repayments would drop by $57 each month.

On the flip side, while choosing a shorter term will increase your small loan repayments, it’ll save you money on monthly fees. Loans come with monthly charges calculated at no more than 48% of your loan amount over 12 months. The table below shows how much you can save on your repayments by taking out a $3,000 loan over a shorter term (with monthly repayments).

Term length Establishment fee Monthly fee Repayments Total cost Total overall saving
18 months
$400
18 x $120
$308.89
$5,560
N/A
15 months
$400
15 x $120
$346.67
$5,200
$360
12 months
$400
12 x $120
$403.33
$4,840
$720

Why apply for a small loan with Savvy?

Frequently asked small loan questions

How quickly can I get my loan funds?

You should receive your loan on the same day you apply, in most cases. Once you’re formally approved, your loan funds will be released into your bank account and they should hit your account that day. This will depend on when you apply and your bank’s transfer times. Most Australian banks have cut-off times at about 6pm, while lenders are unable to offer 24/7 formal approvals, so by applying earlier in the day or week, there’s less chance of your payment being held up.

Can I be approved on the weekend?

Yes – if you find yourself in need of some emergency cash, some Australian lenders can approve and fund loans on a weekend. While there are lenders who are open on both Saturdays and Sundays, the majority of lenders will only be able to approve applications and release funds during the week as per their business hours. You can still receive an instant outcome outside of business hours, however.

Can I apply if I have unpaid defaults?

Most lenders are unlikely to give your application the tick of approval if you have unpaid defaults, although there may be some who can help you in certain cases.

Can I apply if I’ve been knocked back by other lenders?

Yes – you can still be approved if you’ve been rejected by other lenders, so long as you’re earning enough to support your repayments. However, applying for multiple loans over a short period can damage your credit rating and make it harder to get loan approval.

Can I apply if I’m unemployed?

Yes – you can apply if you’re currently unemployed and receiving some form of steady income. This can be made up of investment income, superannuation withdrawals or Centrelink benefits. If you’re claiming Centrelink benefits as income towards your loan repayments, they need to be fixed and ongoing (such as an aged or disability pension). You won’t be able to factor temporary payments such as JobSeeker towards your loan if they’re your only form of income.

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Disclaimer:

The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.

For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.

Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.