Borrow Money Online – Up To $10,000. Here’s How

To borrow money online can often sound harder than it is. Well, if you’ve ever wondered how it’s all done, we may be able to help. Monzi, your friendly neighbourhood lender-finder is here to give you the rundown.

Monzi is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website about money lenders relate to your unique circumstances.

How much money can I borrow online?

The actual loan amount you may be approved for will vary from lender to lender. This is because lenders will assess your application based on a number of factors, many of which vary from lender to lender.

The lender should take into account your bills and costs of living, including food, transport, entertainment, and if you have any current loan repayments. Local living standards vary, so the terms of money lenders Gold Coast can be quite different from money lenders Cairns despite both places being in QLD.

Keep in mind, however, that individual lenders will use their own assessment criteria. Monzi works with lenders who may be able to offer personal loans from $300 to $10,000.

Who do Australians borrow money from?

There is a large variety of lenders in Australia. However, these can usually be broken up into three broad categories:

  • Banks: You are most likely the most familiar with more traditional lenders. Banks can offer the convenience of a large branch network, as well as internet banking options.
  • Mutuals, or member-owned lenders: Building societies, credit unions and member-owned banks are known as mutuals. These institutions are owned by members, not shareholders.
  • Non-bank lenders: These are privately owned institutions that are neither banks nor mutuals. These institutions must still, however, abide by the same laws and regulations that govern all credit transactions in Australia.

Depending on your situation, you may be more suited to some lenders than others. In short, it is best to evaluate your own situation, and what you are looking for in a lender.

How do money lenders work?

A money lender provides easy loans at a given interest rate. They either provide financing or disburse loans upfront, charging an interest rate on the amount borrowed. This is at a fixed or variable interest rate. Additionally, lenders may also charge annual fees, service fees, transaction fees, and other costs.

How do I choose a money lender?

When comparing money lenders, it is key to balance what you want out of a lender vs. your current circumstances. For example, if you are in need of fast loans, you may prefer to approach an online short-term lender, as opposed to a bank.

Additionally, aim to find a lender that can offer the amount you’re looking for and the loan terms that suit you. Also, be fully aware of the fees and rates, as well as understanding the difference between fixed and variable interest.

Depending on whether you’re applying for a long or short-term loan, the loan term can vary dramatically. Take care to make sure you can afford the instalments as agreed in the repayment schedule.

Is it possible to borrow money instantly?

Depending on your lender, your instant loan application speed will vary. For example, Monzi’s lender-finder service is so quick, it may feel almost instant. However, the time frames of application depend on who you are matched with. Therefore, it should only take you a few minutes to fill out our online application form. Next, our automated system will scan through hundreds of different loan products to try and find you a lender. We’ll be in touch with the outcome.

From there, you’ll deal with your lender directly. Processing times will, however, vary between lenders. Generally, though, lenders will begin the process as soon as you send back your signed loan contract. Keep in mind, access to your quick money loan will also depend on inter-bank transfer times.

So, when you need to borrow money now and can’t afford to wait, turn to Monzi. Apply during business hours and you may be paired with a lender in just 60 minutes. Borrow money online instantly from $300 to $10,000 today!

Borrow money against a vehicle

With some lenders, you may be able to get a loan against your car. By borrowing money against your car, you may be able to increase the amount you can be approved for, as well as potentially increasing your likelihood of being approved.

For example, Monzi is able to find lenders offering secured personal loans ranging from $2,100 to $10,000. On the other hand, Monzi finds lenders offering small unsecured loans, that range from $300 to $2,000.

Unsecured personal loans are riskier for lenders. With a secured loan, on the other hand, if a borrower is unable to repay their loan, the lender, as a last resort, may be able to repossess their vehicle. This is done in a bid for the lender to recoup some of their losses.

Ultimately, there are secured and unsecured loans for people with bad credit.

I need to borrow money fast

If you have an emergency expense and need a cash loan, some lenders may fit your situation better than others. Cash advance lenders, for example, may be able to process your loan much faster than a bank. Additionally, you should factor in the time it takes to search and apply for lenders. Finding lenders online can be tedious, especially if you are unfamiliar with the industry.

Monzi can, therefore, take a lot of the stress and guesswork out of finding a lender who may offer online loans with instant approval. So, if you’re looking for a lender, consider using Monzi’s lender-finder service. With one application, we’ll sort through hundreds of different loan products to find you an available lender. Therefore, if you’re looking for a lender offering personal loans between $300 and $10,000, get in contact today!

Can I borrow money fast if I’m unemployed?

If you are unemployed, there may still be options available to you. You could, for instance, apply for a payday loan Australia.

Payday loans are, usually, a small short term loan that is repaid over a number of weeks. Payday loans, however, often have high fees associated with their rates. Additionally, if you do not pay off your payday loan within the prescribed repayment period, you may be charged additional fees and finance charges.

On the other hand, you could apply for a personal loan. A personal loan will usually have a longer repayment period than a payday loan. Additionally, personal loan lenders may have higher eligibility criteria than a payday loan.

Monzi works with lenders who may regard regular Centrelink payments as a form of income.

Should I borrow money from a bank?

While banks may be a tried and tested option for borrowing money, they may not be the best choice for every situation. If you are looking to borrow a small amount of money, or needcash loans for bad credit, it may be a good idea to consider other options.

However, if you do want to borrow from a bank, you may need to meet some pretty stringent eligibility criteria. Additionally, banks may take longer to process your application and transfer your cash than some new-age mobile lenders. Obviously, this can be a major drawback if you need an instant cash loan.

Beyond this, if you’re still asking how to borrow money from a bank, it’s usually quite simple. In most cases, you can head to your local branch. However, these days, applying online is usually possible too.

How can I borrow money with bad credit?

There are lenders that may be willing to approve your loan application, despite your bad credit. Many bad credit loans are treated the same as personal loans. In other words, you borrow a set amount of money and repay it in fixed instalments, either weekly, fortnightly or monthly.

Monzi works with lenders who may be able to look past your bad credit record. See, when we ask for your banking details, we are in turn, able to provide lenders with a read-only copy of your bank statements. This allows them to focus on your current relationship with money, not just your bad credit.

Equifax is one of the country’s leading credit reporting bureaus. Your Equifax score is a common expression of your credit rating:

  • 0 – 509: Below average to average credit score
  • 510 – 621: Average credit score
  • 622 – 725: Good credit score
  • 726 – 832: Very good credit score
  • 833 – 1200: An Excellent credit score

Can I borrow money online with no credit check?

In short, yes – there may be lenders willing to provide you with an online instant loan with no credit check. Often, these no credit check lenders will charge high interest rates and may have a high level of fees and charges.

As the lender-finder, Monzi cannot guarantee whether or not the lender you’re paired with will conduct a credit check.

Monzi’s network of lenders, despite conducting credit checks, are not solely concerned with your credit record. Instead, if they are able to see you have been responsible with your current finances and debts, they may still consider you for approval.

Can I borrow money from Centrelink?

If you are currently receiving benefit payments from Centrelink, then there may be assistance available that is more appropriate for you than applying for a personal loan.

While Centrelink typically won’t offer loans per se, you may be eligible for an advance payment. In short, this will involve you receiving a portion of your future payment early. However, remember that this will result in your future payments being adjusted down.

Finally, keep in mind that this is general advice. You may need to contact Centrelink directly to determine your eligibility or the options available to you. Monzi cannot guarantee if this is an option for you.

Can I get money today?

It is possible to have your loan appear in your account on the same day you apply. Keep in mind that same day loans for bad credit will be dependent on a number of factors and every lender may have different processes in place when dispersing your funds. So, here’s what you need to be aware of:

  • When you approve your contract: Most lenders will only transfer your funds when they receive a signed loan contract. If you, however, send back your loan contract after a certain time, they may not be able to transfer your funds until the following day. So, get in contact with a lender directly to find out when they do their final round of banking each day.
  • Weekend transfers: Most lenders will be unable to transfer any funds over the weekend. It is best to get in contact with your lender directly, to find out more about their transfer policies.
  • Inter-bank transfer policies: Inter-bank transfer times will also affect how quickly you can access your loan.
  • Supply all information: Be sure to supply all relevant information correctly on your loan application. If you have missed certain pieces of information, the lender may not be able to transfer your funds until they have everything they need.

Ultimately, you might be able to borrow money online instantly today. Just note the various factors we’ve listed above.

Money lenders near me: things to consider

Before applying for a loan, be aware of the following risks:

Excessive debt

Any borrower is exposed to the risk of too much debt. Therefore, familiarise yourself with a lender’s associated costs and make sure you’re making enough money to cover them. Don’t apply for more money than you need, and assure yourself you can make instalment payments as agreed.

Building a reliance on credit

While borrowing a quick cash amount here or there can help you manage an immediate expense, you should never rely on personal loans to cover day to day costs. As a rule, you should not apply for a new loan until you’ve repaid your current debts.

Hurting your ability to borrow money in the future

If you manage your cash loans poorly (i.e. miss repayments), then it’s possible that your credit score may take a hit. As a result, you may find it significantly more difficult to access credit again down the line. Moreover, if you’re after a loan to purchase a car or a home, a good credit score is often a requirement. So, don’t squander your future opportunities by mismanaging a loan today.

Borrow money to buy shares

Borrowing money to buy shares can be a smart way to augment your income. You can make money as long as your investment grows at a rate that exceeds that of your loan costs. However, buying shares with cash is less risky than taking on debt.

Additionally, you can use the equity on your home to take out a loan. Equity loans enable you to utilise the capital gains of your house without needing to sell it. In short, your home equity is the current value of your property minus how much you owe on the mortgage. Ideally, you can use this loan to buy shares that will generate a profit on top of the cost of the loan. However, the disadvantage of this approach is that the borrower could be putting their residence at risk.

Margin buying

When you purchase on margin, you get a loan from your investment firm to cover part of your investments. This type of transaction, however, is very high-risk.

Can I borrow money for bond?

Some lenders offer the option to protect bonds with insurance. This can help tenants to manage other upfront rental costs better and recover the full bond at the end of the tenancy. On average, rental bond loans amount to $2,000 and are valid for tenancies of 6 months to one year. Borrowers repay bonds in fortnightly or monthly instalments. Find out more about loans for people on Centrelink and no credit check loans with Monzi.

Borrow money Australia: is Monzi for me?

Monzi has already helped thousands of Aussies find a lender who can help. Therefore, below are some popular search terms that have lead people to Monzi. So, if you have been searching for any of the following terms, you should consider letting Monzi help you find a lender:

SearchAmount $ (AUD)Approved
Borrow money against vehicle700
Borrow money online instantly1,650
Need to borrow money fast2,200
Borrow money no credit check2,600
I need to borrow money8,750

Disclaimer: The above table is for demonstrative purposes only. The figures and terms presented do not, in any way, reflect the amount of the loan you may be approved for, nor the terms and conditions of your loan.

Finally, you’re free to apply from anywhere in Australia; from cash loans Melbourne, to easy online loans in South Australia, you can even access cash loans in Perth! Wherever you are, Monzi can try to help.

woman in yellow jumper with two thumbs up wanting to borrow money

How to borrow money

Monzi makes finding online loans as easy and as quick as possible. Therefore, if you’re looking to match with lenders fast, trust in Monzi’s 100% online lender-finder service. Ready to find a lender? Well, here’s how we can help:

  1. Select your loan amount and repayment term (if applicable) using Monzi’s loan slider.
  2. Provide the necessary personal and financial details, then submit your application.
  3. Let us take over. We’ll scan through our network to try and pair you with an available lender willing to assess your application.
  4. If a match is found, then we’ll pass your information onto the lender. From there, they will be in contact to begin the assessment process.

Consult a borrow money calculator

A borrowing calculator is a tool that many credit providers supply to give you an estimate of your borrowing power. Generally, however, these calculators are geared towards borrowing a large amount – like a mortgage.

If you are how much money can I borrow for a home loan, you may want to consult a home loan calculator.

Where can I borrow money fast in Melbourne?

Just like the rest of us, Melbourne residents aren’t immune to financial troubles. Whether it’s an unexpected expense or a bill you can’t quite afford, borrowing money could be an option.

At Monzi, we know plenty of lenders who may help you borrow money in Melbourne. Best of all, they don’t operate from a physical location. Instead, you can apply online from the comfort of your own home. Or, from wherever you choose.

How much money can I borrow for a mortgage?

In short, Monzi cannot say. Moreover, we, nor the lenders that we associate with, can offer variable-rate mortgages or otherwise. Instead, we deal exclusively in the personal loan realm.

In any case, how much you can borrow for your home loan will vary based on your financial situation. As a guide, this may relate to your current income, credit history as well as any assets that you own.

Finally, keep in mind that lenders typically will not lend you more than 80% of the property’s value. However, some low deposit mortgages may be offered in certain situations.

I need to borrow money fast with bad credit: help!

As we’ve already mentioned, bad credit doesn’t need to be an obstacle with Monzi. We work with a range of lenders who might be offer loans for bad credit. Best of all our lenders can work fast.

If you apply during business hours, we may put you in touch with a lender in just 60 minutes. From there, they’ll assess your application so that you can receive an outcome ASAP. As part of this, lenders may not only check your credit, but will assess your current finances too.

So when you’re in a bind and need to borrow money today, apply with Monzi. We work fast so that you can avoid the wait.

Borrow money for your business

Juggling your cash flows as a small business owner is no easy feat. As a result, if you need some extra cash to help your business get by, a small business loan could be an option for you.

While Monzi, and the lenders we work with, are unable to offer these products. Many banks and online lenders will.

As a guide, you may use a loan for your small business to cover:

  • Payroll
  • Supplies, inventory and equipment
  • Marketing and advertising
  • Expansion costs

And plenty of other business-related expenses.

How much does it cost to borrow money quick?

Before borrowing money, you must understand the associated costs. In short, all personal loans must be repaid with interest. Moreover, a number of fees may be applied too. As a result, you will always pay more than you borrow.

Given this, it’s never a bad idea to shop around. Compare lenders and the loan products available to try and find the right deal for you. A small saving on your interest rate can translate into extra money in your pocket down the line.

Finally, before you agree to a loan, ensure you’ve read the contract thoroughly so that you won’t encounter any surprises down the line.

Where can I borrow money safely?

You may be asking ‘where can I find a loan agency near me?’ With Monzi, you don’t have to – we’re 100% online. We do understand that applying online can seem daunting. After all, you have to provide a range of personal details and trust that your lender will keep your information secure.

If you apply with Monzi though, there are no such concerns.

Firstly, we will only match you with a licenced Australian credit provider. In addition to this, our online system is secured by McAfee and Comodo meaning your details are safe with us.

So, if you’re looking for a safe way to access money loans online, consider Monzi. We may be able to match you with a safe and trusted lender today.

Money lenders in Australia: the best choices aren’t the most obvious

When it comes to credit, there is no shortage of options. Is a credit card right for you? Should you apply for a loan from a bank? Apparently, big lenders don’t always offer the best terms. The loan market is expanding, and small loan providers sometimes offer more attractive terms.

With so much choice though, it can be difficult to know where to begin. That’s where a lender-finder service like Monzi can help. In short, we make it simple to borrow money.

Apply today and you may be paired with a lender in just 60 minutes. As a result, you can cut out the hassle of looking around, trying to pick a lender from the endless results you find online.

However, ultimately, the lender or credit provider you choose is up to you.

What can I use Monzi for?

People borrow money for a plethora of reasons. In particular, people appreciate the flexibility of personal loans. In other words, you can use your personal loan to cover all sorts of expenses:

And the list goes on! So, if you have a reason to borrow, consider how Monzi could benefit you.

Ready to apply?

If you’re looking for a payday loans alternative, then Monzi is the lender-finder for you.

Think of us as your one-stop-shop for all things finance. While we may not offer loans ourselves, we know a thing or two about them.

For example, check out our guide to leasing vs. buying a car with a loan.

Let’s stay in touch

We’re sure you’re experiencing information overload by now, so if you have any questions about our service don’t hesitate to contact us at Also, visit our FAQ page and see if your answer is already waiting for you.

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You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Representative example based on a loan of $1000 over 6 months a borrower can expect to pay a total of $1440.

Disclaimer: Under the current legislation, all Small Amount Credit Contract loan providers don’t charge an annual interest rate. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The comparison rate on loans between $300 and $2000 could be up to 199.43%. The minimum loan term is 16 days and maximum loan term is 12 months. Representative example based on a loan of $1000 over 6 months a borrower can expect to pay a total of $1440. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan.

Loan amount

$2,100 - $4,600


13 months (minimum)

24 months (maximum)


47.8% Annual Percentage Rate (APR)

65.85% Comparison Rate p.a.


Representative example based on a loan of $2500 over 24 months a borrower can expect to pay a total of $4,556.88.

The maximum interest rate for a Medium Amount Credit Contract is 47.8%. Comparison Rate 65.85% p.a. The maximum loan term is 24 months. Representative example based on a loan of $2500 over 24 months a borrower can expect to pay a total of $4,556.88. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Credit criteria and terms and conditions apply.

Loan amount

$5,000 - $15,000


13 months (minimum)

24 months (maximum)


17% Annual Percentage Rate (APR)

36% Comparison Rate p.a.


Representative example based on a loan of $10,000 over 36 months a borrower can expect to pay a total of $16,489.

The starting interest rate for a Personal Loan is 17%. Comparison Rate 36% p.a. The maximum loan term is 24 months. Representative example based on a loan of $10,000 over 36 months a borrower can expect to pay a total of $16,489. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Credit criteria and terms and conditions apply.