To keep things simple, most of the lenders on our panel offer loan amounts of $150 to $2,000

To keep things simple, most of the lenders on our panel offer loan amounts of $150 to $2,000

With the above list in mind, it’s safe to say that we have the best payday loans in Australia and work with some of the best lenders.

Loan Amount

In some cases, online lenders offer easy cash of up to $5,000, with some even offering as much as $10,000. Keep affordability at the forefront of your mind when ounts mean higher monthly instalments. Only borrow what you need.

Loan Terms

Online loans typically offer terms ranging from 60 days to 12 months. That said, most lenders in Australia deal with applications on a case by case basis, which means that easy money payday loan Circleville your loan amount and term will depend on the affordability of the loan to you and, of course, your personal choice. By selecting a smaller loan amount, you’re more likely to pay it off with no complications, and of course, you get a lower interest charge on the loan. Interest is charged monthly, which means the longer your loan term, the more interest you’ll end up paying.

Repayment Schedule

When applying for a loan at , you will be able to select the loan term and repayment format that best suits your finances. Most loans are set to deduct from your bank account on your payday automatically, but you can set customised repayment schedules in place directly with the lender. Lenders on our panel usually offer weekly, fortnightly, and monthly repayment schedules depending on the size of the loan and the term set in place.

Fees & Possible Hidden Charges

Before signing a loan agreement, it is of the utmost importance to read through it to ascertain what the loan cost is to you and, of course, if any other charges may crop up unexpectedly. We’re pleased to announce that our panel of lenders pride themselves on transparency, so you will be made well aware of the fact if there are any additional charges.

Loans of $2,000 and smaller come with 0% interest but incur a 20% establishment fee once-off and a 4% monthly fee. These are the maximum allowable charges by law on loans up to $2,000 in Australia. Of course, some of our lenders make their packages more alluring by reducing their establishment and monthly fees.

If you happen to apply for a personal loan of $2,001 and above, your fee structure is going to look a little different. First and foremost, you will most likely pay an establishment fee of $400 and then an APR (Annual Percentage Rate) interest of up to 48%.

  1. Early settlement penalty
  2. Late payment penalty
  3. Collection fees if the lender has to hire a debt collector to recover funds

Lender Reputation

Of course, all of the lenders on our panel have a reputation for good service and transparency in Australia. That said, before signing a loan agreement, we do encourage all customers to do their due diligence to see if the lender has a good reputation and offers the promised transparency.

For instance, a reputable lender has a valid credit license in Australia and makes its contact details readily available. There should be a way to call the lender and chat directly with them. Also, online reviews can be a great way to determine if the lender is reputable or not. Visit their social media pages and read feedback on review websites to know who you are getting into a financial agreement.

Same-Day Payout

Most online loans come in a 1-hour loan format. Once you have applied for the loan, it takes just a few minutes to receive an outcome. If your loan application is approved, the lender disburses the money within the hour. In most instances, this means that the cash arrives in the borrower’s bank account on the very same day. However, there are instances where the payment can take up to 24 hours. Either way, that’s fast cash! If you need cash in a hurry, online loans provide just that.

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