Fast Loans in AustraliaUpdated February 2019

Fast loans can be difficult to choose, luckily here at Mammoth Investor we’ve compiled all the information you need on one page.

Website Loan Amount Loan Duration Interest Cash Deposited In Visit Site

www.credit24.com.au
$500 - $2000 6 - 12 months 20% of loan amount + 4% of loan amount each month Same day – conditions apply Visit SiteView Larger Loans

www.nimble.com.au
$300 - $2000 62 days - 2 years 20% of loan amount + 4% of loan amount each month 1 hour - conditions apply Visit Site
View Larger Loans

www.ferratum.com.au
$500 - $1900 3 - 6 months 20% of loan amount + 4% of loan amount each month Same day - conditions apply Visit Site

www.walletwizard.com.au
$500 - $2000 Up to 2 years 47.8% Annually 3 hours - conditions apply Visit SiteView Larger Loans

sunshineloans.com.au
Up to $2000 9 - 15 weeks 20% of loan amount + 4% of loan amount each month 30 minutes - conditions apply Visit Site

www.fairgofinance.com.au
$500 - $2000 3 - 12 months 10% of loan amount + 2% of loan amount each month 1 Business day Visit SiteView Larger Loans

www.capfindirect.com.au
$500 - $2000 6 - 12 months 20% of loan amount + 4% of loan amount each month Overnight Visit SiteView Larger Loans

www.360cashloans.com.au
$150 - $5000 2 months - 2 years 47.83% Annual Repayment Rate (varies - check your specific loan amount) Same day upon approval Visit SiteView Larger Loans

The providers above are the most popular for fast loans, we hope our list provides some basic information that will help you. We’d always recommend to do as much research as you can on this topic as it’s quite a big decision and shouldn’t be taken lightly. Seeking help from a financial advisor might be the best course of action as loans can often get you in a more complex situation.


Melissa

Mammoth Investor
Founder

Choose Wisely

Make sure to research each provider and what they are offering. If you can't find any solid information and they aren't upfront about their charges and interest structure then they are likely much higher than competitors.

It's important to get a lay of the land and make sure you are choosing a loan amount that is reasonable and realistic to pay back on time. In our table, we've displayed the basic information about each provider but we urge you to do more research on their website, contact their support team and come to a final decision.

About Fast Loans

We all know what it’s like to get into a sticky financial situation when expenses come up that you’re weren’t expecting, and you have no way to pay for them out of your own pocket.

Whether it’s because your car broke down, you had a medical emergency or something urgent came up that you need to pay for, there are thankfully many ways to get the money you need when you need it.

One of the easiest ways to get this kind of funding is by applying for a fast loan on really short notice, which we’ll explain in detail below.

What Are Fast Loans?

Fast loans are upfront credit that you can apply for online and get into your bank account within a very short space of time, sometimes even within the hour and often on the same day.

This obviously depends on a few factors though, like what time of the day you submit your application and the bank processing times of your particular bank.

To understand this kind of credit it’s also helpful to consider other kinds of short-term financing options.

There are a number of different kinds of short-term financing options available, but these can sometimes require a bit of time and effort to apply for.

In the case of getting financing from a traditional bank, for example, you might be required to actually go and talk to someone in person and submit a whole lot of physical documents in order to be approved.

Fast loans, on the other hand, provide an easy way to get emergency funds without having to speak to anyone, all through a convenient online application process.

Why Would I Need To Apply For Fast Loans?

If you’re receiving a monthly income of any kind and need access to finance immediately before you get your monthly or weekly pay, fast loans could be the way to go, depending on whether you are eligible to apply for one or not.

Eligibility requirements include things like age, residency, employment and monthly income status, Centrelink income (if applicable) and sometimes your credit history.

Simply put, if you’re cash-strapped and are in dire need of some funds to help you out, they can help.

What Are The Benefits Of Fast Loans?

With fast loans, you receive the money you need in a short amount of time granted that you have the funds to pay it back when your money comes through (as per the lenders’ fee structure and list of terms and conditions).

You also don’t necessarily need to be employed, but you’ll need to prove that the money will be paid back from somewhere, whether this is through your paycheck or your monthly Centrelink income.

Fee structures are also regulated, which means that fees and interest rates are restricted so you won’t be paying exorbitant rates.

With flexible terms, you can also choose from a range of different sums and repayment options, because this kind of credit line is designed to be repaid when you get paid.

Basically, fast loans are more convenient and allow for greater variety and flexibility when it comes to loan amounts and terms, as opposed to overdrafts and other short-term financings. These can prove to be a lot more expensive in the long term, especially if you’re trying to get funding from a traditional bank.

How Much Can I Borrow And When Do I Need To Pay It Back?

How much credit you can get really depends on how much you earn, and can be sums of anything from $100 to $2000, and sometimes even more with some lenders offering up to $5000 and even $10 000.

The amount you borrow also directly relates to the repayment terms, and most repayment terms are anything from 16 days to 6 months.

So really, it all depends on your current financial situation.

What Does Getting a Fast Loan Actually Involve?

Essentially, fast loans are a transfer of money into your account after applying online and meeting the eligibility requirements. It’s that simple.

It’s helpful to understand the mechanics of getting upfront credit beforehand though, as having to take out a loan to pay another loan will quickly get you into a cycle of debt that can be tough to get out of.

What’s important to be aware of is that you will be paying for the money you borrowed over a certain period of time, depending on when you get paid. If you get paid weekly, the fee structure will be designed around weekly repayments, which could be via direct debit or even through manual payments.

You’ll also need to pay an upfront fee for borrowing the money, as well as a fee for every repayment (which differs according to the amount of money you’ve borrowed).

Note that if you don’t meet all your repayment terms in time, you will be charged additional fees depending on the contract you’ve signed and the terms you’ve agreed to.

Can You Take Out Additional Loans Once You Already Have One?

It’s advisable to not borrow more money than you need at any one time because as mentioned above, continuously borrowing money can complicate your life and your financial situation.

However, the number of times you can apply for financing all depends on your particular situation as there are different sets of rules and regulations for fast loans, depending on how much you would like to borrow.

With the flexibility of this kind of financing, there could also even be benefits to taking out more than one line of credit over the long term, for example, discounts on future financing. But this will only happen if you can prove that you can consistently and reliably pay back all of the funding you receive.

Are There Any Additional Fees I Should Be Aware Of?

It’s important to take note of all the fine print when borrowing money and to understand all the terms and conditions before applying for fast loans.

However, in an emergency situation, you don’t always have time to do that. Because of this, working with a trusted financial services provider is always advisable.

In essence, credit is actually money that you don’t have so it’s a resource that is there for you when you need it. However, it shouldn’t be seen as a form of income as you do pay more for the convenience of easily available credit over the payment period.

Can I Apply For Fast Loans If I Don’t Have A Good Credit Score?

Yes and no. Whether or not you are approved for funding all depends on meeting the eligibility requirements.

Some funding plans won’t require credit checks but some will. It all really depends on the kind of financing you’re applying for.

How Do I Actually Go About Getting Fast Loans?

As we’ve touched on above, it’s really quite easy to borrow money from an online lender. We know that you’ll be stressed and maybe not able to concentrate fully while you’re worrying about money.

This being said, it’s helpful to take just a bit of time to do some research on the kind of financing you need and to check whether you meet the minimum requirements for the specific kind of funding you require.

Once you’ve established that you do meet all the requirements, you then need to fill in the application and send/provide access to all the details that are necessary to complete your application. This can include sharing your personal banking details or submitting certain documents along with all of the forms you’ve just filled in.

Once you’ve submitted your application online, you then wait for feedback on whether you have been approved or not. This shouldn’t take long at all, and once you’ve been approved, you’ll be able to sign the contract digitally or via SMS.

Your money should then come through into your banking account (once again, depending on processing times and the time of day). After that, it’s then up to you to manage and budget for all of your repayments over the entire repayment period.

What else do I need to know about borrowing funds at short-notice?

The information above would have told you a lot of what you need to know about getting a monetary advance on short notice. Ultimately though, so much of it depends on you and how you manage your finances.

As long as you meet the eligibility requirements and understand how the fee structures work, you’ll be on your way to solving your temporary financial woes without the added worry of burdensome debt.

Devise a plan for the money you intend to borrow and make sure that you’re able to incorporate repayments into your monthly expenses. Thanks to all the loan options available, you should be set to go almost instantly.