Instalment Loans Online – Apply From $300 To $10,000 Now

Instalment loans may help you manage a short-term cash shortfall. Borrow cash amounts up to $10,000 and divide your costs in even weekly, fortnightly or monthly repayments. Apply with Monzi today. With easy applications and lightning-fast outcomes, we could match you with a lender in no time. Get started now.

Can you please define instalment loans?

Of course. That’s the best place to start.

In short, an instalment loan refers to a credit product where you receive a lump-sum cash amount upfront and repay it via instalments over a fixed period. In most cases, these loans will take a standard principal and interest form. That simply means that you must repay any money that you borrow with interest.

Ultimately, instalment loans are popular because they allow you to cover your short term cash needs without overextending your budget. Instead, your costs are simply divided into even and manageable repayments over terms that may range from a few months to many years.

At Monzi, we work with lenders who may offer instalment personal loans from $300 to $10,000. However, lenders may offer many other types of instalment loans. It simply comes down to your needs and circumstances.

How many instalments will it take to repay my loan?

That depends on how much you borrow, your repayment frequency and the repayment term that you choose.

Beginning with the amount you borrow, you can usually repay a small loan much quicker than you can repay a large loan. As a result, fewer instalments will be required.

Next, if you apply with Monzi, then you may have the choice between weekly, fortnightly and monthly repayments. While the total costs will ultimately be almost identical, if you select weekly repayments, then there will be approximately four times as many instalments compared to monthly repayments.

Finally, your repayment term must be considered. At Monzi, we work with lenders who offer terms ranging from 12 to 24 months, depending on the amount you borrow. A long term will have more instalments than a shorter term.

So, to conclude, Monzi cannot say how many instalments it may take to repay your fast cash loan. There are many factors at play, meaning it will depend on the loan you are offered.

Will I get to choose my ideal instalment loan?

Yes, to an extent.

As we touched on, you have the choice to select weekly, fortnightly or monthly repayments. From a cost perspective, the difference will be minimal. In other words, your total loan costs won’t vary significantly based on the frequency you select. As a result, all you have to do is select the option that works for you.

Beyond this, if you apply for a secured loan of more than $2,000, then you may have the option to select a repayment term of between 13 and 24 months. While a shorter term means you’ll be debt-free sooner, your regular repayments will be higher. So, you must do what you can to strike the right balance.

Given this, you do have some freedom to choose your ideal instalment loan. However, it’s important to note that your lender may modify certain terms and amounts to better suit your budget before you are offered a loan.

What are some examples of instalment loans?

Instalment loans are arguably the most common form of credit. As a result, they come in many forms. To give you an idea, examples of instalment loans include:

Ultimately, instalment loans simply refer to credit products where you borrow money upfront and then repay it via a series of repayments.

What are the pros and cons?

If you need emergency cash ASAP, you may think an instalment loan is the answer. While they can help you out of a bind, there are factors that you must consider to determine if these loans are right for you.

From a positive perspective, you get cash upfront. With this, you can cover the pressing expense that’s bent your budget out of shape. Moreover, your lender will divide your costs into a series of manageable repayment amounts. Finally, lenders are often flexible and may allow you to pay off your loan early (if possible).

However, from a negative angle, lenders charge fees and apply interest on any money that you borrow. As a result, the costs can add up significantly over time. In addition to this, taking on debt is always risky. If you fail to repay your loan, then you may face repossession or your credit score may take a significant hit.

Given this, ensure you weigh up the pros and cons before applying for a fast loan with Monzi. For further information, it may be wise to check out Moneysmart’s personal loan guide or approach a qualified financial professional for advice.

How do you get approved for an instalment loan?

Australian regulations dictate that lenders must act in a responsible manner. With this, they will always conduct an assessment on your application to determine if an instant loan is suitable for your needs, objectives and means. As a guide, lenders usually assess a few key factors.

Firstly, they may examine your credit report via a credit check. In short, this allows them to determine your creditworthiness. While they prefer to work with good credit borrowers, given the apparent reliability, Monzi does know many lenders who may consider offering loans to Australians with bad credit.

In addition to this, lenders will consider your financial situation too. In other words, what’s your current income, what are your expenses and do you have any other current liabilities? To be approved, you typically must be in a secure financial position and demonstrate the ability to comfortably afford the associated loan repayments.

Given this, it’s important to note that guaranteed approval loans won’t be possible. If you are matched with a lender through Monzi, they will conduct an assessment and provide you with an outcome.

Instalment loans near me: try Monzi

When you’re on the hunt for easy cash loans near me, Monzi’s lender-finder may be the answer. We operate Australia-wide so it doesn’t matter what you’re near. You could be next door to the Opera House, staring up at Uluru or heading out to the Great Barrier Reef.

As a lender-finder, our goal is to connect you with an available lender from our extensive network who may offer personal loans from $300 to $10,000. Moreover, we aim to do this in a quick and hassle-free manner. If you apply during business hours, you may receive an outcome in just 60 minutes. From there, your lender will be in touch and you will deal with them directly.

If you are offered a loan, then it will always be an instalment loan. Monzi’s lenders may offer you the option to repay your loan via weekly, fortnightly or monthly instalments over terms of up to 24 months. Best of all, we’re 100% online, so you can apply and receive an outcome all from the comfort of your own home.

Ready to apply? We’d love to hear from you. Hit “Apply Now” or use Monzi’s loan slider at the top of the page.

Can I get an instalment loan with bad credit?

Yes, some lenders that Monzi knows may offer loans for bad credit that you may repay via instalments. However, if you opt to apply with a traditional lender such as a bank, then you may find it more difficult to secure approval.

In short, the lenders in Monzi’s network understand that a few mistakes in your past shouldn’t define you. As a result, they’re willing to do what they can to help you access the bad credit finance you need.

With this, they’ll usually look beyond your credit score. While it may be one consideration, your income and current budget will always be taken into account. If you are in a secure position financially, then your lender may consider approving your application in spite of your credit.

So, if you need an instalment loan, but think bad credit may hold you back, apply with Monzi. While we cannot guarantee if your application will be successful, we’ll do our best to match you with an understanding Aussie lender today.

Can I get an instalment loan that is not a payday loan?

Of course.

While payday loans are a form of instalment loan, if you would like an alternative, consider a personal loan instead. Typically, payday loans refer to unsecured cash loans of up to $2,000 that you may need to repay over a brief term. On the other hand, personal loans cover amounts up to $10,000 and come with repayment terms from 12 to 24 months. As a result, they may be more manageable for your budget and could help cover a wider range of cash needs.

So, when you need bad credit instalment loans that aren’t a payday loan, apply for a personal loan with Monzi. We could match you with a lender before you know it. However, if you would prefer to apply for a payday loan online, then you may need to do your own research.

I need instant approval! Can Monzi help?

Yes, to an extent.

If you’ve left it to the last minute and need online instalment loans instant approval right now, we’ll do our best to help you. If you apply during business hours, you may receive an outcome in just 60 minutes. From there, if successful, your lender will contact you.

At this point, it’s important to understand that loans with instant approval aren’t strictly possible. Instead, as we’ve outlined, Australia’s responsible lending laws mean that your lender must take the time to assess your suitability for credit. As a result, you must account for some processing time.

If everything goes to plan and you are approved, then you could receive your loan within an hour or on the same day. However, processing times vary, meaning Monzi cannot provide any guarantees. While Monzi and our lenders endeavour to work fast, delays may occur. To give yourself the best chance of receiving fast loan approval, apply during business hours and provide all the necessary details lenders require to assess your application.

Does Monzi offer loans as a direct lender?

No, we don’t.

As a lender-finder, we cannot offer loans of any kind. It doesn’t matter whether you need an online home loan or a small cash loan, this is not something that we can provide. As a result, if you’ve got your heart set on instalment loans online offered by direct lenders, you may need to look elsewhere.

However, the way we see it is that applying with Monzi is just as convenient as applying with a lender. Rather than having to scan endless search results, you can just submit one application. From there, we could put you in touch with an available Aussie credit provider. That way, you can avoid the hassle of doing it yourself. Best of all, you may receive an outcome within the hour.

So, while loans directly from a lender may cut out the middleman, try Monzi instead. It’s quick, easy and hassle-free. Let us do the heavy lifting to take the burden off you. We’ll always do our best to help you in any way we can.

Man with hands in the air after being approved for instalment loans online

Are there any long term loans available?

At Monzi, we only work with lenders who can offer large personal loans up to $10,000 with repayment terms of up to 24 months. As a result, for other long term credit options, you may need to look elsewhere.

Common examples of long term instalment loans include car loans and home loans. While car loan terms may range from three to ten years, you may have to repay a home loan over 25 to 30 years. After all, it’s likely that you will be borrowing a significant sum of money. In addition to this, banks and some lenders may offer large personal loans of up to $30,000 or $50,000 too.

Finally, note that long term instalment loans for bad credit may not be possible. In most cases, if you would like to purchase a car or home, then you are potentially borrowing tens, if not hundreds of thousands of dollars. As a result, lenders typically prefer borrowers with a strong repayment history and good credit score.

Instalment loans no credit check

At Monzi, we do not conduct credit checks. We are a lender-finder service only. However, if we match you with a lender, we cannot guarantee if you will be offered no credit check online loans. Instead, it will be at your lender’s discretion. Credit checks are typically part of a lender’s assessment policy, meaning they may be unavoidable.

In any case, credit checks aren’t the only assessment factor. Lenders consider your income and expenses too. As a result, even if a lender uncovers your lacklustre credit, you may still be considered for approval if you are earning a consistent income and have a stable budget.

Can I get an instalment loan for leisure?

Looking to book your next trip? A holiday instalment loan could make it one to remember. Whether you need to cover the cost of flights or accommodation, you could apply for a holiday loan with Monzi from just $300. If approved, you may receive the cash you need before you know it. From there, you can get away and see the sights or soak up the sun in your favourite tropical paradise.

However, when it comes to using cash loans for leisure, make sure you think about the consequences. As a general statement, you should only apply for a loan when you absolutely need it. For instance, they’re usually used to cover emergency expenses such as car repairs or new appliances.

So while we’d all love a holiday, taking on debt to do so likely isn’t a wise decision. Instead, you should aim to save the extra money or holiday somewhere local. Ultimately, though, it is your decision. Check out Monzi’s Costs page to get an idea of how much a loan may cost you.

Secured and unsecured instalment loans: explain the difference

If you’re new to the borrowing game, you may be struggling with the jargon. Everywhere you look you’ll be seeing terms such as ‘secured’, ‘unsecured’, ‘no credit check’, ‘instant approval’, ‘payday lenders’ and much more. In short, it’s enough to make your head spin.

With this, one key distinction that you must understand is the difference between secured and unsecured instalment loans. While it’s fairly simple, allow us to explain.

Firstly, a secured cash loan, or guaranteed instalment loan, is backed by a borrower’s asset. In other words, they sign over their car, bike, caravan or boat to guarantee the loan. That means that if they default on their loan, the lender can take steps to repossess this asset. Ultimately, security is a way of reducing the risk for your lender. As a result, these loans are often much larger than unsecured loans.

On the other hand, borrowers don’t need to provide security on an unsecured loan. Instead, they just need to make their repayments on time and in full. However, as there is no guarantee, lenders won’t offer unsecured loans over $2,000, given the risk.

At Monzi, we know lenders who offer both options. So, depending on your cash need, there may be a secured or unsecured personal loan that suits you.

Is a credit card an instalment loan?


A credit card provides you with immediate access to cash up to a pre-set limit. However, it’s not paid to you as a lump sum, you are simply able to borrow what you need. Moreover, if you pay off your outstanding balance each month, then you may avoid interest charges. As a result, it’s not an instalment loan.

Given this, finding the best credit card may be a useful alternative to an online personal loan. However, do your research to determine which option is most suitable for your financial needs. As a hint, personal loans may be more appropriate if you are only dealing with a one-off expense. On the other hand, credit cards may be better to help you manage on-going cash flow issues.

Does an instalment loan hurt your credit?

In short, it depends on how you manage your loan.

If you pay your instalments on time and in full until the balance of your loan is paid off, then you may develop a strong repayment history. As a result, it’s unlikely that your credit score will be negatively impacted.

On the other hand, if you default on your loan or are inconsistent with your repayments, then your credit score may take a hit. This may limit your ability to access cash loans and other credit products in the future. So, ensure you only borrow what you can afford to repay, otherwise, there may be consequences down the line.

Are there any monthly instalment loans?

You bet!

While we’ve already mentioned it, when you apply with Monzi, you may have the choice between weekly, fortnightly and monthly repayments. While the total costs are ultimately very similar, monthly repayments may be most suitable for you if you receive your income once a month.

Beyond this, whether you opt for a monthly instalment loan schedule or something different, it’s totally up to you. This may be something that you can negotiate with your lender if you are offered a loan.

What about weekly instalment loans?

Yes, of course.

Again, as we mentioned earlier, weekly repayment instalments are one option that lenders may offer. In most cases, you can establish a direct debit from your account, meaning your repayments are made automatically. All you need to do is ensure that you have sufficient funds in your bank account on the relevant date.

If you are unsure of whether a weekly instalment is best for you, consider your current financial situation. In other words, think about how often you receive your income and consider any other on-going repayments you are currently making. From there, you may determine which instalment frequency will be most appropriate. Ultimately, though, your total costs shouldn’t vary too significantly.

Are there any alternatives?


While instalment loans are a popular choice when you need cash today, they’re not the only option. For instance, a line of credit may be available. With this, you can borrow up to a predetermined limit whenever you need. From there, you will pay interest on whatever funds you use. In addition to this, you could consider applying for a credit card.

However, if you’re looking to avoid debt altogether, some options to help you access additional cash could include:

  • Centrelink Advance payment: if you are a benefit payment recipient, you may apply for an advance. In short, you will receive a portion of your future payments early. This amount is then deducted from your payments going forward.
  • Flipping your unwanted possessions: clear out your garage or de-clutter your home. Find some old items that may have value and post an on Facebook Marketplace or Gumtree. Make a sale and you could have the cash you need in no time.
  • Pick up some odd jobs: there’s always work that needs to be done. Apps like Airtasker may connect you with people in your local area willing to offer jobs for cash.
  • Pay on demand: you might be able to access a pay advance via one of the new pay on demand apps. In short, this involves borrowing a small amount today and repaying it once you receive your next wage.

Can I take out multiple personal loans?

Yes, potentially.

However, approval is at your lender’s discretion. As a result, if they see that you are already paying off an existing loan, then they may be hesitant to allow you to borrow more money. After all, they want to be sure that you will prioritise your loan repayments.

In any case, it’s unlikely that taking out multiple personal loans will be a good idea. The high costs mean that the repayments may put significant strain on your budget. As a result, it’s best to avoid applying for credit whenever possible. While one loan may be affordable, two loans or more could become a headache.

Am I eligible to use Monzi’s lender-finder?

Check these four boxes and you’re welcome to apply with Monzi:

  • Australian citizen or permanent resident.
  • At least 18 years of age.
  • Earned a consistent income for the past 90 days.
  • Can provide an active email address and mobile phone number for contact purposes.

Note that if you do not meet the criteria listed above, then your application will not progress. While we do aim to help as many Aussies as possible, these requirements are non-negotiable.

I need an instalment loan today: how do I apply?

Ready to get started? Here’s how you can apply with Monzi today:

  1. Use our loan slider to select your ideal loan amount and term. Note that loans under $2,000 come with fixed, 12-month terms.
  2. Complete your application by providing the necessary personal and financial details.
  3. Sit back and relax as Monzi takes over. Our automated system will now attempt to match you with an available lender from our network.
  4. Check your phone because we’ll provide your outcome via text or email. If we are successful, then your lender will contact you to begin the next stage of the process.

As you can see, there’s no stress when you apply with Monzi. We could find lenders offering you fast and easy cash loans from $300 to $10,000. Scroll up to Monzi’s loan slider to begin your application now.

Can I modify my instalments down the line?

You may. However, this will be at your lender’s discretion. As a result, Monzi cannot say with certainty whether this will be possible.

To learn more, it’s best to contact your lender directly. They may outline your options if you would like to modify your instant cash loan repayments. Typically, with sufficient warning, your lender may be willing to work with you to develop a plan that works. However, this isn’t guaranteed.

That said, if you do find yourself facing significant financial hardship and can no longer afford your repayments, then you can submit a hardship application. With this, if approved, your lender may institute modified terms that may be affordable for your new circumstances.

Get a loan today: divide your costs into instalments

Instalment loans may be an easy credit option when your budget is on the ropes. Apply today from $300 to $10,000. If approved, you’ll receive cash upfront. From there, just make your repayments via a series of weekly, fortnightly or monthly instalments.

With Monzi, it’s as easy as can be. Use the loan slider to select your ideal amount, then complete the online application form. Before you know it, your journey to finding a lender may be underway. Apply today.

Do you have a question for Monzi? You can contact us anytime at Our customer service team aims to get back to you ASAP. Just keep in mind that for a fast response, aim to contact us during business hours.

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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.