No Credit Check Loans Guaranteed Australia Centrelink
How to get an instant approval loan to get the cash you need today.
If you’re on a modest Centrelink income, getting a loan might not seem like the easiest option, especially with bad credit. Is possible to get a guaranteed loan without any credit check? Find out about your possibilities for a small loan when you’re unemployed with a low credit score.
If I'm on Centrelink, can I get guaranteed approval for a loan with no credit check?
No –regardless of Centrelink benefits, there’s no such thing as “guaranteed approval” for a loan application in Australia, nor can you avoid a credit check to get around a bad score. There are very lenient lenders out there, but none that are going to offer automatic approval with no questions asked. Credit checks are a key part of confirming someone’s details for a loan application, and no legitimate lender is going to skip that step.
There are still loan options out there even if you’re a Centrelink customer and don’t have the best credit, however. Many online lenders are willing to help customers in tough times, including those with lower credit scores, or who depend on Centrelink for support.
When you’re on the hunt for a small loan, Savvy can be a handy place to start. We can connect you one of our lenders and, for loans up to $5,000, you can get instant approval within 60 seconds of clicking submit on your application.
Will being a Centrelink customer make it more difficult to get a loan?
It can narrow your options, but it doesn’t rule you out. Larger financial institutions like banks are less open to helping someone with a lower credit score, especially if they’re depending on government benefits, but smaller financial operators and online lenders are more willing to help. They’re more interested in the current state of your finances than your past credit history and accept more income types, such as Centrelink payments in some cases.
Savvy can quickly and easily connect you with lenders willing to work with your situation and budget. Being on Centrelink doesn’t mean you can’t get help when you need it.
Why apply for a small loan with Savvy?
How to maximise your chances of getting a small loan approved
Outstanding debts will show up on your credit report and can negatively impact your loan application chances. It’s best to clear your existing debts before trying to borrow again.
Working on your credit score can go a long way towards helping your approval chances. Get in to the habit of paying bills on time and using your credit card sparingly.
Read through any conditions and make sure you meet all the criteria for a loan before applying. Otherwise, you’ll probably be rejected and it’ll count against your credit rating (loan applications put a small dent in your credit whether you get approved or not).
Having your budget in order will allow you to be confident of making your repayments, accurately report your expenses on a loan application and help you keep your finances in order and let you build up your credit rating.
A lender is going to want to see paperwork from you, verifying your situation. Keeping good records makes that process a lot easier. Make sure financial records (like payslips for casual work, details of regular expenses or recent debts, and invoices for any freelance jobs you’ve done) are kept safe and easy to find.
Common questions about getting a loan on Centrelink benefits
Helpful small loan guides
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.