Direct Money Loans – Online Cash Guide

Direct money loans let you access cash directly from lenders. You can apply and receive an outcome with no additional steps or third-party involvement. It could be the simple way to access personal loans online. Read on for Monzi’s comprehensive direct money loan guide. Let’s go.

What are direct money loans?

With direct money loans, it’s only you and your money lender. There’s no third-party involvement.

All you need to do is submit an application through the lender’s online platform and you’ll receive an outcome before you know it. There’s no additional steps or hassles to worry about. Realistically, it’s one of the easier ways to access loans online.

Best of all, these loans come in a range of sizes. As a result, whether you’re looking for a small loan, or something a little larger, there might be an option for you. You get the cash you need today while the costs are spread over terms that often range from 12 to 24 months.

Please note, Monzi is a lender-finder service, and therefore does not offer direct money loans.

Weekend loans direct lender

Sure, it would be convenient if your expenses only occurred during the week. Unfortunately, that’s just not reality. All too often, major expenses appear on the weekend too. Maybe your car breaks down or your dog needs emergency surgery?

If you find yourself needing weekend cash loans, you might think you’ve got no options. Luckily, that’s not quite the case. In fact, some lenders may process loan applications outside of standard business hours. That means weekends too. As a result, you can potentially access the cash you need to cover the expenses that just can’t wait.

However, keep in mind that weekend direct finance loans won’t always be possible. Your application may not be assessed and interbank transfers may not be processed during these times. As a result you may need to wait until the following business day to access your cash.

What are payday loans?

Payday loans typically cover smaller amounts up to $2,000. In short, they’re a quick fix, cash option that provides you with the cash you need in a hurry. Payday lenders will waste no time in assessing your application so you can have an instant loan outcome before you know it.

In addition to this, they’re only a short-term commitment. While some loans will look you into repayment terms of up to 24 months, certain payday loans Australia may have short term loan repayments from as little as four weeks.

So, do you have a minor expense but lack the cash right now to cover it? A payday loan could be an option for you. However, as always, consider whether the product is right for you before applying.

Payday lender no credit check direct money loans

When you apply with a direct lender, your application will be assessed. In short, the purpose of this assessment is to determine if the loan that you’ve applied for is suitable for your circumstances.

Typically, this assessment will include a credit check. A credit check usually involves lenders analysing your credit report to get an idea of your history as a borrower (i.e. are you reliable).

However, a credit check isn’t always necessary. In fact, some lenders may bypass this step entirely. With this, rather than focusing on your credit, they’ll look at your income and expenses instead. That way, they can get an idea of what repayments might be affordable for you.

Having said this, few lenders will offer no credit check loans. As a result, their availability may depend on the lender you are dealing with.

Can I get bad credit payday loans no credit check?

Have you made a few credit mistakes in your past? Not to worry. Now more than ever, many direct lenders are potentially willing to offer bad credit loans.

In short, your past won’t necessarily define you. While lenders may take a look at your credit history, they’ll focus on your current financial situation too. By getting an idea of your income and expenses, they can potentially get an idea of how your loan repayments would fit with your current budget.

As a result, if you’re in a secure financial position then you could be approved for a loan, even with a few hiccups in your past.

However, keep in mind that approval is not certain. You will receive an outcome based on the findings of your assessment.

Unsecured personal loans bad credit direct lenders

With an unsecured loan, you’re not required to provide an asset as security. As a result, your lender is trusting that you will make your scheduled repayments on-time and in-full.

However, with this, these loans are considered riskier for lenders. As a result, they’re typically only offered for amounts up to $2,000. In addition to this, they may come with higher interest rates in order to compensate with the added risk.

If you wish to apply for a loan over $2,000 then you will need to secure it with an asset. This could be your car, boat, caravan or another other asset that you own and that has value. In the event that you fail to make your repayments, the lender can take steps to repossess the asset to cover their losses.

Bad credit payday loans guaranteed approval direct lenders

While guaranteed approval loans no matter what sound great in theory, in reality, it’s not quite all it’s cracked up to be.

Due to Australian lending legislation, all loan applications, including bad credit payday loans, must be assessed in order to determine the borrower’s suitability for credit. In order words, is the loan right for their needs and objectives?

As a result of this, there’s no such thing as guaranteed approval. Your application will be placed under the microscope with rejection always being a possibility.

This might seem frustrating but the process exists to protect you, the borrower. If lenders comply with these requirements then you should not be offered a loan that is unsuitable or unaffordable for you.

If you do encounter a lender offering guaranteed approval, steer clear. They are failing to meet their legal requirements and are potentially putting you at risk.

Short term no credit check direct money loans

With short term loans, you can get out of debt sooner. Typically, for loans under $2,000, you can have them repaid in just 12 months. Sounds convenient, right?

While it may be, try to ensure that your repayments always fit comfortably with your budget. Trying to get out of debt ASAP may seem like a great strategy, however, you still need to be able to afford your day to day expenses. Your repayments should not take priority over that.

Ultimately, it’s about finding the right balance. Aim pay off your loan as soon as you can through even, regular repayments that suit your budget.

Direct money loans woman standing tree-lined street pointing upwards

Direct cash loans: what can they cover?

You can use direct cash loans to cover almost any legitimate personal expense. As a result, the list of possible uses is endless. In any case, some reasons are a lot more common than others.

As a guide, some of the most frequent reasons for applying include:

  • Car repairs or servicing
  • Household maintenance, re-decorating or renovations
  • Medical, vet or utility bills
  • Debt consolidation
  • Rental bond
  • Holiday or travel loans
  • New appliances or technology (e.g. a new iPhone)

What is the minimum credit score for direct money loans?

In short, Monzi cannot say. Lenders all have their own qualifying criteria meaning the minimum credit score that is required will vary from lender to lender.

In addition to this, keep in mind that simply having an eligible credit score is not enough to ensure approval. Your financial situation, loan objectives and credit history will all be assessed in order to determine if you are suitable for credit. Meeting the minimum credit score requirement is simply one hurdle that you must clear.

How can I get loan money fast?

If you’re looking to get fast cash loans, then there are a few things you can do that may speed up the process.

Firstly, you must apply during business hours. Most lenders will only assess applications during these times. If you do this, you can potentially receive an outcome before you know it. If you apply outside of business hours then you may encounter delays.

In addition to this, you must supply all the required details when you apply. This includes your personal information (name, date of birth, etc.) as well as various financial details. Nothing causes delays like your lender having to chase up missing information. So, if you want your application to go off without a hitch, ensure you supply all the information that’s required.

Which cash loan is best?

In short, it’s up to you. Cash loans aren’t one size fits all. They vary in their amounts, terms and a range of other factors. Given this, the right loan for you won’t necessarily be the right loan for another person.

For instance, you may simply have a small expense that must be covered. With this, you may only need to apply for a $2000 loan with a 12 month term. On the other hand, another person may need a much larger loan to cover a more sizable expense.

As a result, Monzi is unable to say what the best loan may be. However, what we can say is that it may be possible to find the right loan for you. To do this, you’ll need to compare the products on offer.

Not sure what to compare? No worries. Monzi’s here to help. Read on for our direct loan comparison guide below.

Comparing direct money loans

Comparing loans doesn’t have to be difficult. There are just a few simple criteria that you should look at to determine which loan is the right choice for you. Check them out:

  • Interest rates and fees: these will determine what you pay on top of the principal amount that you borrowed. Lower rates and fewer fees are usually better.
  • Comparison rate: rolls your interest rate and fees into one easy to understand figure that represents your total loan costs. It’s the easiest way to compare loans and their costs.
  • Secured or unsecured?
  • How much can you borrow?
  • What repayment terms are on offer?
  • Are you dealing with a licenced and reputable lender?

While it may not seem like a necessary step, don’t underestimate the benefits of shopping around. Not only can you save money, you can potentially secure great terms that work for your situation too. So, put in the time and effort.

Finally, if you’re after further details, MoneySmart has provided an informative breakdown.

What are the repayments on a $10,000 loan?

In short, we cannot say. Your exact repayments will depend on your loan term as well as your interest rate (plus any additional fees).

As you’d probably expect, the longer your loan term (e.g. 24 months), the smaller your regular repayments will be. Similarly, the shorter your term (e.g. 13 months), the larger your repayments will be.

As a result of this, when you apply, you’ll have a decision to make. While getting out of debt quick is a great goal, it’s not always possible. As a rule, aim to balance comfortable and manageable repayments with an efficient loan term. In other words, get out of debt when you can, without breaking your budget.

Direct money loans and Monzi

At Monzi, we don’t deal in direct money loans. In fact, we don’t offer loans of any kind. That’s because we’re a lender-finder service. In short, that means we pair everyday Aussie borrowers just like you with a host of great online lenders.

So, while you won’t be able to access direct loans through Monzi, you can still apply for personal loans from $300 to $10,000. All it takes is one super simple application. Complete that and you might be paired with a lender in no time. From there, your application will be assessed to determine if you are eligible.

The table below shows the loans potentially available from Monzi’s network of lenders.

Small loan$300 to $2,000Repayment term up to 12 months.
Medium loan$2,100 to $4,60013 to 24 month repayment term.
Large loan$5,000 to $10,00013 to 24 month repayment term.

At the end of the day, Monzi can make it simple and convenient to find lenders online. Does that sound like something you need? Scroll up and use Monzi’s loan slider to begin your application today.

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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


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true 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.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true 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. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true 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. Click here to see a worked example.