Instant Loan Up To $10,000! Find Fast Finance Online!

Instant loan up to $10,000 found through Monzi’s lender-finder service. If you need to find instant lenders fast, Monzi is your new best friend. Get started today.

Monzi – Instant loans Australia

We’re Monzi loans, a 100% online lender-finder, run by Aussies for Aussies. In a nutshell, we could very quickly pair you with a quality lender.

How do we do this? Well, over time, we’ve built up a strong network of trusted lenders that offer loans for bad credit. So, when you apply with Monzi, we can pass your application on to this network. If you apply during normal business hours, we may even have an outcome for you within minutes.

What does this mean for you? Put simply, you can forget wasting time filling out multiple applications with different lenders. You can, also, forget having to trawl through the internet finding the right lender. Monzi makes applying for loans easy.

When you use Monzi, you submit one application, and we scan through hundreds of different loan products. Fast finance online, made simple.

What is an instant loan?

It is a type of cash loan with a quick application. Generally, these loans will have more open eligibility criteria than traditional loan products. In addition, these loans will be repaid by setting up a direct debit from your account.

Monzi, in particular, works with lenders that may be able to offer an instant personal loan. Also, Monzi’s lender partners may be able to offer a wide scope of loan products, from $300 to $10,000.

How do instant loans work?

With an instant loan, you apply online and receive an outcome so quickly, it feels almost instant. Moreover, in Australia, these fast loans generally refer to unsecured loans of $2,000 or less; however, certain lenders may be able to offer up to $10,000.

The thing to remember with instant loans in Australia is that instant does not mean approval is guaranteed. Approval is always subject to assessment.

Depending on the lender, you may be able to apply online in minutes and receive an outcome within the hour. If you’re approved, certain lenders may be able to process your funds in 60 seconds.

Due to their quick turnaround times and relatively open criteria, these loans may be popular among Aussies looking to cover an emergency or unexpected expense.

Where can I get an instant loan?

With Monzi, you may be able to be paired with a cash loans lender so fast it will feel almost instant. Here at Monzi, we’ve designed our entire process to be as streamlined and as simple as possible. In other words, speed and convenience are at the forefront of our minds.

Furthermore, Monzi works with lenders who may be able to approve your loan within minutes. In addition, you may even be able to access loans the same day you apply. This is, however, dependent on the lender we pair you with, as well as your bank.

Assessment criteria vary between lenders, so loans with no credit check might not be possible.

Finally, when we say 100% online, we mean it. In other words, you’ll never have to queue for Monzi, or need to fill out paperwork. You could find a lender offering up to $10,000 within minutes, all online.

You can find out more about applying for payday loans here.

How should I compare instant loans?

Not all lenders were created equal. Moreover, not all consumers are the same. Therefore, you should always compare your options before making a decision.

Don’t stress if you aren’t sure how to compare lending options; we’ll give you a quick rundown. Take the following into account when comparing your lender options.

  • Amount. While instant cash loans generally refer to loans of $2,000 or less, certain lenders may be able to offer secured loans up to $10,000.
  • Term. Depending on the lender, your repayment terms may be anywhere from 16 days to several months or years. Keep in mind that while a longer term reduces the regular repayment amount, you pay more in overall interest and ongoing fees.
  • Interest. Interest expressed as a percentage of the principal amount you borrow. Your rate will have a big impact on the total cost of your loan.
  • Fees. Lenders generally charge upfront and ongoing fees. In addition, there are penalty fees for missed or late payments. Confirm you understand all the fees and charges associated with your loan before applying.
  • Speed. While a number of variables affect your access to funds, certain lenders may be able to process your funds quicker than others. For example, certain lenders may offer 60-second transfers of your funds.

Are there any risks associated with these loans?

Yes! While these loans may be quick, convenient and easy to qualify for, they come with certain risks that all consumers should be aware of. Therefore, it may be a good idea to make note of the following before you apply:

  • Dodgy lenders. Confirm your lender is licenced by ASIC before you apply. Also, make sure they’re easily contactable and display information openly. In addition, it may be a good idea to check their reviews online.
  • Expensive repayments. Always crunch some numbers and make sure the amount you’re applying for is affordable. If you fail to repay your loan according to your contract, you may be slapped with additional fees and charges that quickly snowball.
  • Credit applications. Each time you apply for a loan, the application shows up on your credit report. While your credit history may not be an issue for many instant lenders, several applications can negatively impact your credit score.
  • Rates and fees. Make sure you understand what you’re signing up to. In particular, make sure you understand the implications of missing a repayment.
  • Long-term effects. You are legally-bound to any loan contract you approve. Moreover, serious breaches of this contract can result in legal proceedings against you.

Pros and cons of an instant loan

There are certain benefits and drawbacks associated with an instant loan. Moreover, it is important you weigh these up against your own needs and objectives.

Pros

  • Fast turnaround. If you are approved, you will likely receive your funds the same day you approve your contract. Certain lenders may even be able to transfer your funds within 60 seconds.
  • Easy online application. Applying for these loans is generally 100% online and paperwork free. In short, you may be able to apply in minutes on your smartphone.
  • Open criteria. You don’t need perfect credit history in order to be approved. There are plenty of lenders willing to consider applicants with poor credit.

Cons

  • Fees. The short term nature and open criteria of these loans mean they are a risk to lenders. Therefore, the rates and fees for these loans are typically high, in order to compensate for this risk.
  • Potential debt. It may be tempting to apply with these lenders due to their easy approval criteria. However, these loans may not be ideal for every situation and you may find yourself struggling with repayments. In a worst-case scenario, you may find yourself in a debt spiral.
  • Short term solution. Instant loans should really only be used to cover an emergency or unexpected expense. Moreover, these loans should not be used as a solution to long term financial problems.

Instant cash loans 24/7

One of the best things about Monzi? We’re 100% online.

This means you can apply to find lenders at any time, anywhere. Furthermore, you can apply from any smart device with internet capabilities.

You should note, however, that the lenders themselves may be not able to process your application until the next business day. In other words, although you can use Monzi at any time, your lender may not be able to assess your application until the next business day. Although, this is, generally, when you use Monzi outside of normal business hours.

Monzi’s network of lenders may also be able to offer Centrelink loans.

Can Monzi find me a payday loan no credit check?

No. If you have been searching online for a payday loans no credit check quick approval, Monzi is unable to help. Well, help you find a payday loan in Australia, that is.

Monzi, in short, avoids pairing our customers with payday lenders. This is because payday lenders have been known to charge high interest rates over a short loans repayment term. In addition, payday lenders have been characterised by high fees that can quickly snowball into debt.

Monzi will not pair you with a payday or cash advance lender. We may, instead, be able to pair you with a lender offering an instant personal loan of up to $10,000.

Instant personal loan

Many borrowers prefer personal loans over payday loans for a few key reasons:

  • Personal expenses: Personal loans can be used to cover nearly all personal expenses. From car repairs, travel costs to covering a rental bond, personal loans can do it all.
  • Manageable repayments: Because personal loans often have a longer repayment period than payday loans, the regular repayments are often much more manageable.
  • Fast access: Personal loans can often be processed and available in your account the same day you apply. This is, however, dependent on inter-bank transfer times.
  • Easy repayments: Generally, a direct debit will be set up from your bank account. Repayments will, therefore, automatically be taken out. Once your repayments are complete, the direct debit will automatically cease.

So, forget searching online for a payday loan no credit check instant approval. Instead, find a lender offering a personal loan, with Monzi.

Can Monzi help me find a $100 instant loan?

Sometimes when an unexpected or emergency expense pops up, we only need a little extra to see us through. In these situations, small loans may be a great option.

Unfortunately, however, Monzi only works with lenders who offer a minimum loan amount of $300.

So, while Monzi may not be able to help find a $100 loan, we could still help with a larger amount.

Monzi loan no credit check instant decision

Monzi acts as the lender-finder, and therefore will not conduct a credit check on your application. In addition, our automated system works so fast, you may get an outcome within minutes of applying.

Generally, when you complete our online form, we’ll get to work scanning through hundreds of different loan products. From here, we may even have an outcome for you within minutes. Feels almost instant, right?

It should be noted, however, that the lender we pair you with may conduct a credit check on your application. In addition, using Monzi’s lender-finder service does not guarantee an instant decision nor approval.

Do you offer a personal loan guaranteed approval?

Unfortunately, no – and for good reason!

Neither Monzi nor the lender we pair you with will promise guaranteed approval on your loan application. This is because offering guaranteed approval would be in violation of the responsible lending obligations as laid out by ASIC.

In a nutshell, responsible lending obligations are in place to prevent predatory lending. In other words, to stop lenders from offering contracts or advice on loan products that are unsuitable for a consumer.

Therefore, to meet their responsible lending obligations, lenders are required to take the following three steps:

  1. Make reasonable inquiries about the consumer’s financial situation, and their requirements and objectives.
  2. Take reasonable steps to verify the consumer’s financial situation.
  3. Make a preliminary assessment or final assessment about whether the credit contract is not unsuitable for the consumer (based on the information obtained in the first two steps).

Conversely, any lender offering guaranteed approval is clearly not conducting any sort of assessment on your application. These lenders, in particular, should not be trusted. You, however, can be assured Monzi will only pair you with a reputable lender.

Consumers are able to get a full copy of the regulatory guide via The Australian Securities And Investments Commission.

How do I get an instant loan?

Monzi makes finding a lender offering a loan easy. Put simply, you should be able to finish our application process in no time. Then, from there we could even have an outcome for you within minutes.

Here’s how you can get started.

Apply

Select the amount you’re thinking of borrowing, as well as your ideal loan terms. Next, you’ll be given an idea of what the weekly, fortnightly or monthly repayments may look like. Finally, if you’re happy, click Apply Now.

Keep in mind the values and terms presented in the loan slider are just a guide. The actual costs and terms of your loan may change depending on the lender you’re paired with.

We’ll ask you to supply some important information. This, usually, shouldn’t take long to complete.

Relax

You can, now, kick back and wait for us to work our magic.

At this stage, our intelligent automated system will scan through hundreds of different loan products. We will, generally, let you know the outcome via text and email, so keep an eye on your devices.

Meet your lender

If we’re successful, your new lender should be in touch. You will, generally, deal with them directly from here on in. Your lender, if your application is approved, should usually send through an electronic loan contract for you to read over and confirm. Finally, once you’ve approved your contract, your lender will get to work transferring your funds.

Both the lender you’re paired with and your bank will determine when you can access your loan. In addition, keep in mind that your lender will have their own business hours. Therefore, if you approve your contract outside of these hours, they may only transfer your funds the next business day.

Instant loan woman standing in front of pink wall

What kind of loans can I get?

As we mentioned above, Monzi works with a trusted network of lenders who specialise in personal finance.

Within this, however, are three broad categories of personal loans. It is important, then, to consider what loan you should apply for.

TypeAmount $ (AUD)TermSecured
Small$300 to $2,00012 months
Medium$2,100 to $4,60013 to 24 months
Large$5,000 – $10,00013 to 24 months

Keep in mind, the repayment terms of your instant loan may vary depending on the lender you’re paired with.

How much do instant loans cost?

We cannot guarantee the total cost of your loan. This is because we cannot speak on behalf of other companies. Moreover, lenders may vary in terms of the rates and fees they charge.

Despite this, the Australian Securities and Investments Commission (ASIC) regulates what lenders can legally charge for cash loans. This is done so lenders do not offer you credit you’re unable to pay back.

For example, for loans valued at $2,000 or less, lenders can legally only charge:

  • establishment fee of no more than 20% of the principal amount
  • monthly account keeping fees of no more than 4% of the principal amount
  • government fees or charges
  • penalty fees for missed or late payments (the lender cannot collect more than 200% of the loan value).

Keep in mind, ASIC limits the maximum lenders can charge you. You may be able to get a lower rate and better fees if you have good credit history or apply for a secured loan.

How can I get a quick outcome?

Lenders assess applications on a case-by-case basis. As a result, there is no way to guarantee when you will receive an outcome. In general, however, you may be able to expect an outcome within 60 minutes of applying. This is, however, only possible during business hours.

Here are a few things to be aware of that can affect how quickly you receive an outcome.

  • Business hours. Like any business, lenders have normal operating hours throughout the week. Obviously, lenders are only able to process your loan if they are actually in the office. Therefore, aim to apply during normal business hours.
  • Information. Aim to provide all relevant information when you first apply. Otherwise, lenders may need to stall their assessment of your application to chase up pieces of information.
  • Notifications. Keep your email and phone notifications close by during the application process. Lenders may get in contact to request information. The faster you can respond to requests, the quicker you will receive an outcome.

What can I use as security?

Generally, lenders can accept either your car, motorbike, caravan or boat as security. You will, however, need to be the registered owner of the vehicle to use it as collateral.

If you, alternatively, do not have a vehicle registered in your name, you may need to consider small personal loans instead. Small personal loans will never require collateral, and therefore may be a better option.

Attaching collateral to a loan greatly reduces the financial risk for the lender. In the event of a default, the lender is then able to sell the collateral and recoup some of their losses. In addition, because the risk is reduced for a lender, they may offer you larger loan amounts and reduce the interest on a secured loan.

If you do repeatedly miss repayments, and fail to get in contact with your lender, they may start the repossession process.

The repossession process begins if:

  • you are behind on your repayments;
  • they have provided you with a default notice, giving you 30 days to pay the overdue amount; and
  • you have not paid the overdue amount, negotiated a resolution or lodged a request to postpone repossession within the 30 day period.

This is, however, usually the last resort. Moreover, if you are experiencing financial hardship, you should get in contact with your lender directly. You should generally be able to reach an alternative repayment plan with your lender.

Can Monzi find me a lender if I have bad credit?

Yes, we can!

If you’re looking personal loans with lacklustre credit history, then look no further. Monzi, in short, may be able to find you a lender, despite your bad credit.

After all, a few financial mistakes in your past don’t dictate who you are today. Both Monzi and the lenders we work with understand this.

In addition, Monzi uses some of the latest in safe-banking technology, to give your application the sparkle it deserves. In other words, when you apply with Monzi, we access a read-only copy of your bank statements. We can, then, pass this on to a potential lender.

If you are, therefore, looking for personal loans bad credit of up to $10,000, Monzi could be your one-stop-shop.

And what if I’m receiving Centrelink? Am I still eligible?

Absolutely, yes!

Many of the lenders Monzi works with may be able to consider regular Centrelink payments as a form of income. In short, if your repayments will fit comfortably within your regular Centrelink income, you may be considered for approval.

It is important to note, final approval always rests with the lender themselves.

Unemployed and looking for personal loans Centrelink? Monzi might be able to pair you with a lender.

Can I get an Get An Instant Loan No Credit Check?

As lender-finder, Monzi cannot guarantee whether or not a lender will conduct a credit check.

What we can say, however, is that lenders will look at more than just your credit score. In other words, the lender may be willing to look past your bad credit. They may, instead, prefer to focus on your current relationship with money.

If you’re worried your bad credit will prevent you from being approved – consider Monzi! When you use our lender-finder service, we’ll compile your information into an application, that we can then pass on to potential lenders.

We’ll always do our best to paint your application in the best light. Therefore, even if a lender performs a credit check, you may still be considered for approval.

Keep in mind, however, that we are only the lender-finder. After all, approval criteria may differ from lender to lender and the final decision is always at the discretion of the lender themselves.

What Are The Odds Of Getting An Instant Cash Loan In 1 Hour?

As the lender-finder, Monzi cannot guarantee how quickly your loan may be processed. After all, once you have found your new lender, you will deal with them directly.

Monzi, however, is able to scan through hundreds of different loan products very quickly. Generally, if we’re successful, your new lender should be in contact.

You will have to inquire with your new lender directly to find out more about a cash loan in 1 hour.

In short, same day loans for bad credit are possible.

Does Monzi have an instant loan app?

Unfortunately, Monzi does not have its own app.

We are, however, accessible 100% online. Therefore you can use Monzi’s lender-finder service on any smartphone or device.

Therefore, if you need a personal loan of $300 to $10,000, just visit www.monzi.com.au and follow the prompts.

What if I’m struffling to repay my loan?

If you are struggling to afford the repayments on your personal loan, you need to get in contact with your lender directly.

If you are experiencing a temporary cash shortfall, give your lender notice 24 hours before the payment is due. They should be able to reschedule or waive your payment for a small fee.

If you are, alternatively, experiencing prolonged financial hardship, get in contact as soon as you can. Your lender will assess your claim of financial hardship. You may be able to restructure your repayment if you are approved.

I’m struggling with debt – where can I get help?

If you feel like your drowning in debt and not sure where to get started, the best thing to do is seek help. A great place to start is the National Debt Helpline. Moreover, by calling 1800 007 007 at any time between Monday to Friday, 9:30 am to 4:30 pm, you can get free advice on:

  • How to manage mounting bills and where you can seek help.
  • Dealing with debt collectors and knowing your rights.
  • Understanding the risks of entering into bankruptcy or other debt agreements.
  • How to keep track of your credit score and fix any incorrect listings on your report.

How do I complain?

If you are unhappy with the service you receive from your lender, or you feel them to be misleading, you are well within your rights to complain. As with anything, there is a right and wrong way to complain.

If you are thinking about complaining, here are some steps you can follow:

1. Let the lender know

The first step is to get in contact with the lender themselves. Moreover, simply explain the grievance you have and what you would like the lender to do to resolve it.

The easiest way to get in contact is often via email or call. Therefore, check the lender’s website to find their contact information.

2. Write a formal complaint

If you are unsatisfied with the lender’s response, you can escalate proceedings by sending in a formal written complaint. These days, this is generally done via email but you may also be able to send in a letter.

In your written complaining, be sure to include the following:

  • ‘complaint’ in the heading
  • personal information, including your name and contact details
  • the date
  • a detailed description of why you’re complaining
  • documentation including receipts, contracts or invoices.

Be sure to keep originals of all the documents you send as well as a copy of your letter.

3. Contact an independent body

An External Dispute Resolution (EDR) scheme is an independent body that listens to your complaints. EDR schemes are free to use and may be able to help you if:

  • are unhappy with how the business dealt with your complaint
  • you feel the lender did not reply to you within a reasonable time frame
  • you are unhappy with an offer made by the lender.

The EDR for loans and other financial products and services is the Australian Financial Complaints Authority (AFCA). You can get in contact with AFCA by calling 1800 931 678 or by visiting their website.

Ready to apply?

Happy with everything you’ve read? If so, why not get started by scrolling up to the loan calculator? After all, Monzi may be able to pair you with a lender in the time it takes to make a cup of tea.

If you have any further questions, head over to our FAQs. Alternatively, consumers can email us at hello@monzi.com.au

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Factor In

Costs

Two credit cards
Two credit cards

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

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

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%. 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

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

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

The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. 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

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

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

The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. 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.