Instant Loans For Bad Credit – Why Not Apply With Monzi Today?

Instant loans for bad credit available online. Fast outcomes on loans from $300 to $10,000. Is your credit score not where it should be? Monzi may match you with an understanding lender today. Bad credit may not be the end of the world. Our Aussie lender-finder service makes it easy. No paperwork. Simple applications. Apply now and start your journey with Monzi.

Instant loans for bad credit

Do you need to borrow money today? Maybe you think that your past credit mistakes will result in lenders ruling a line through your application. Luckily, that doesn’t have to be true. With instant loans for bad credit, you may be able to access the cash you need fast.

Through Monzi, you can apply from $300 to $10,000. From there, we’ll do our best to match you with an understanding lender that knows your credit score isn’t the be-all and end-all. With this, they’ll consider your current financial situation (i.e. income vs expenses) to get an idea of how you’re managing your money today.

If you are displaying effective financial habits and have your expenses under control, then some lenders may be able to forgive your past issues and offer loans for bad credit. Best of all, they work fast, so that you may receive what feels like an instant outcome.

Ready to begin? Apply with Monzi now. Just note that approval isn’t guaranteed.

Instant loan approval: is it possible?

If you need cash now, you want a fast outcome. In fact, you probably want an instant outcome. When you’ve got no time to waste, you don’t want to have to sit around and wait for a lender to get back to you. Instead, you want your instant loan approval right now.

While this is understandable, instant approval deserves some clarification. At Monzi, we work with lenders who may offer instant cash loans from $300 to $10,000. However, instant does not mean that you will receive your cash within minutes of applying. Instead, lenders must assess your application.

Ultimately, the goal of a loan assessment is to determine whether the loan you’ve applied for is suitable for you. Moreover, lenders want to ascertain the risk associated with lending you money. As a result, they’ll usually investigate your credit history and current budget.

Given this, there will always be some processing time between applying and, hopefully, receiving your loan as lenders follow their assessment procedures. As a result, instant loans for bad credit may refer to loans that are processed so fast it feels like very little time has passed at all.

What can Monzi do for me?

Monzi is not a lender. However, that doesn’t mean we can’t help you. We’re an Aussie lender-finder who has helped thousands of Australians just like you.

As a lender-finder, our simple aim is to act as the bridge between you and one of the many understanding lenders in our network. If you apply today, we may match you with a credit provider in just 60 minutes. Best of all, if you’ve got bad credit or receive Centrelink benefit payments, you’re welcome to apply.

Ultimately, enlisting the services of Monzi may eliminate some stress when you’re in dire need of fast cash. You don’t have to scroll through an endless list of lenders, we’ll do the work for you. Submit one easy application and then put your feet up. We may contact you with an outcome before you know it.

As a guide, see the table below for examples of loans that may be offered by the lenders in our network:

Instant loans for bad creditAmount ($) AUDApproved
Instant unsecured loans for bad credit$500
Cash loans for Centrelink customers with bad credit$1,000
Instant approval bad credit loans$1,200
Bad credit secured personal loans$5,000

Keep in mind that this table is for demonstrative purposes only.

Can I apply at any time?

At Monzi, we welcome you to apply for 24/7 instant cash loans for bad credit. Our website is always online and available, meaning we’re here to receive your application on any day, at any time. That said, while you can get started with Monzi, if you do apply outside of business hours (i.e. on weekends), then your application may experience delays.

In short, lenders will have a team that is responsible for assessing your loan application. Just like you, these teams will only work during set hours. While weekend loans may be possible in some cases, usually, if you want a fast outcome on your application, it’s best to apply during the week.

Ultimately, at Monzi, we understand that cash emergencies don’t wait until a time that is convenient for you. As a result, you can apply at any time and we’ll do our best to match you with a lender. Just note that you may need to wait until the next business day for an assessment to be conducted.

Secured loans for bad credit instant decision

Personal loans for bad credit come in two forms: secured and unsecured.

Instant unsecured bad credit personal loans require no security. Instead, you just need to make your repayments until you’ve paid off your loan. However, as there is no guarantee, lenders may charge higher rates and fees to account for the additional risk.

By comparison, with secured loans for bad credit, you must provide one of your assets as security. With this, you can potentially get a loan against your car, motorcycle, caravan or boat. However, you must be the registered owner of the vehicle.

Providing security means that if you default on your loan, the lender can potentially explore repossession to recover their losses. For bad credit borrowers, applying for a secured loan may be favoured by lenders, given that this may offset some of the default risk associated with lending you money.

Through Monzi, you can apply for secured loans up to $10,000. Hit ‘Apply Now’ to get started today.

100% online from application to outcome

Monzi works with new-age online lenders who employ innovative technology to provide you with an outcome fast. As a result, from beginning to end, your loan application will be conducted totally online. There’s no need to make your way down to your nearest branch location. You could apply from your home, the bus, the train, the beach or anywhere else that you choose.

Ultimately, the new wave of lending makes things as convenient as possible for borrowers. So, when you’re in need of instant online loans for bad credit, Monzi can point you in the right direction. Best of all, as our lenders look at the bigger picture, we welcome applicants with bad credit or other similar circumstances. While we can never guarantee if your application will be successful, we’ll always do our best to help you in any way we can.

Payday loans for bad credit instant approval

Payday loans vs personal loans is a common debate that arises when Aussies are looking to borrow money. While they are similar in many aspects, when you need loans for bad credit with instant approval, you may need to choose between one or the other.

To begin with, payday loans Australia are usually small loans offered by payday lenders with rapid outcomes. Moreover, these lenders may offer short-term repayment period, while also considering applicants with bad credit or those who receive Centrelink payments.

Personal loans, on the other hand, tend to cover a wider range of cash amounts. For instance, you may borrow between $300 and $10,000. Best of all, lenders work fast and may be understanding of your circumstances. At Monzi, we may pair you with a lender offering personal loans for bad credit today.

Are there any auto loans for bad credit?

It’s almost impossible to live without your car. From picking up your groceries to dropping off the kids, not having a safe and reliable vehicle can cause significant headaches. As a result, you may be on the hunt for instant auto loans for bad credit.

With this, it’s important to note that Monzi cannot offer car loans. Moreover, we only work with lenders who offer personal loans from $300 to $10,000. As a result, for all your auto loan needs, you may need to look elsewhere.

In any case, if you do apply for a car loan, then the vehicle you purchase will usually become the security on your loan. While that guarantee may decrease the risk for your lender, if you have bad credit, you may find it challenging to receive approval. That’s not to say it will be impossible. It will simply be at the discretion of the lender you are dealing with.

I’m unemployed and have bad credit: can I get a loan?

Fast loans for unemployed Aussies are often hard to come by. Add in the fact that you have bad credit and there’s a good chance that it will be difficult to find a lender willing to consider your application.

For all lenders, consistent income is a requirement. While some lenders may consider Centrelink payments as a source of income, often, it must not be your primary income source. If you are unemployed, then you will not be earning a regular wage. Without a regular inflow of cash, your application won’t be approved as lenders may question your ability to afford your loan repayments.

Ultimately, this comes from the fact that credit providers must lend responsibly. While an unemployed loan could solve an issue today, you must repay whatever money you borrow with interest. If you cannot do this, then you shouldn’t be offered a loan. As a result, if you are unemployed and need money fast, it may be best to find an alternative.

Instant loans for bad credit no credit check

Avoiding a credit check may be high on your priority list if you feel that your credit score is too low to be approved for a cash loan. While this may be an understandable thought process, no credit checks loans aren’t all that common.

For most lenders, credit checks make up a key piece of the assessment puzzle. By examining your credit report, lenders can understand who you are as a borrower. In other words, are you reliable and trustworthy?

If you have bad credit, then a credit check will uncover this. However, all is not lost. In today’s day and age, credit checks are simply one step in the process. At Monzi, we ask for your online bank details to access the past 90 days of bank statements. That way, lenders can assess your current financial situation and spending habits too. By taking into account all the information you provide, lenders can then determine your outcome.

How did I get bad credit in the first place?

Bad credit usually refers to a low credit score. In short, your credit score is a numerical representation of the information listed on your credit report. Credit reporting agencies input all the information listed on your credit report into a unqiue formula to determine what your credit score is.

If you have bad credit, then it’s likely that you have several negative listings on your credit report. Usually, these listings will be past mistakes you made when borrowing money. Unfortunately, listings may remain on your credit report for up to seven years. As a result, you may have turned to instant loans for bad credit to solve your current cash shortfall.

In any case, as a guide, common mistakes that lead to bad credit include:

  • Multiple credit inquiries within a short period
  • Missed repayments
  • Late repayments
  • Defaults
  • Bankruptcy
  • Debt agreements
  • Court orders

While traditionally, banks and other credit providers were unwilling to consider applicants with these listings on their credit report, times are changing. Monzi knows some lenders who may look beyond your credit report. If you meet the necessary qualifying criteria, they may offer you bad credit loans from $300 to $10,000. Apply today.

Is there any sure-fire credit repair solution?

Unfortunately, there is no quick and guaranteed way to repair your credit score. Instead, it will take time. After all, your credit report may contain information that’s up to seven years old. As a result, it will take time for these listings to be replaced.

In any case, the best way to begin rebuilding your credit score is to employ effective borrowing habits and remain disciplined over time. While you may not see results overnight, as time passes, you may see progress. If everything goes to plan, you could leave behind your days of applying for bad credit loans online.

To get the ball rolling, good credit behaviours include:

  • Making your loan repayments on time.
  • Paying off your existing debt (e.g. credit card debt).
  • Only relying on credit when absolutely necessary.
  • Finding the best deal (e.g. lowest rates) before opening a new credit account.
  • Limiting your applications for credit to avoid multiple credit inquiries.
  • Monitoring your credit report regularly to ensure there are no errors.

Can I get a loan with a really bad credit score?

In short, Monzi cannot say.

Lenders vary in their qualifying criteria. While some lenders may impose minimum requirements on your credit score, other lenders may not and will instead offer bad credit loans as long as you’re in a secure financial situation. Given this, your outcome may depend on the lender you are matched with, your credit score and your current financial situation.

If you believe that your application won’t be approved because of your low credit score, you may consider applying for a bad credit secured personal loan. In short, these loans are guaranteed by one of your assets and may range from $2,100 to $10,000. While lenders prefer to offer these loans, given the lower risk they face, make sure you consider any costs or consequences before applying.

Woman wearing rings using laptop to search instant loans for bad credit

Does Monzi consider applicants with bad credit?

At Monzi, we welcome applicants from a range of different backgrounds. As a result, if you have bad credit, don’t hesitate to apply.

That said, note that Monzi is not a lender. While we’ll do our best to match you with an understanding lender from our extensive network, we cannot guarantee if you will be offered instant loans for bad credit.

In any case, if you need cash for bad credit today, why not roll the dice with Monzi? To be eligible, you just need to check the following boxes:

  • Australian citizen or permanent resident.
  • At least 18 years old.
  • Have a current email address and mobile phone number.
  • Can provide details of an online bank account where your income is deposited.

I am eligible, how do I apply?

So, you like the sound of Monzi’s lender-finder? That’s great. Applying is easy. All you need to do is follow these quick steps to begin your journey with Monzi:

  1. Drag Monzi’s loan slider across to your desired amount and select your preferred repayment term.
  2. Complete our easy application form by providing the necessary personal and financial details. Then, hit ‘submit.’
  3. Your work is done. We will take it from here and will do our best to match you with an available lender.
  4. We’ll contact you via text or email with an outcome. If everything goes to plan, your lender will be in touch to begin the next stage of the process.

Ultimately, Monzi aims to make your life a little bit easier. As a result, if you need emergency cash today and want to avoid the hassle of finding a lender, allow Monzi to do it for you. Ideally, we could match you with a lender in just 60 minutes. Give it a try today.

Guaranteed instant loans for bad credit

At Monzi, we endeavour to work with lenders who understand that your credit score shouldn’t define you. However, while they may be willing to consider your application, that does not mean that you will be offered guaranteed approval loans no matter what, regardless of your credit history.

In short, guaranteed approval is not something that Australian lenders can promise or offer. Instead, Australia’s responsible lending regulations dictate that they must conduct a loan assessment to determine your suitability for credit.

As a guide, lenders must meet the following obligations before they can offer you a loan:

  1. Made reasonable inquiries into a borrower’s needs, objectives and financial steps.
  2. Taken reasonable steps to verify this information.
  3. Made a final determination as to whether the loan is suitable for the borrower.

So, if you come across a lender attempting to lure you in with the promise of guaranteed approval instant loans for bad credit, steer clear. Instead, apply with Monzi. We may be able to match you with a licenced and trusted lender offering the instant online finance you need.

I’m on Centrelink and have bad credit: what are my options?

If you’re seeking cash loans for Centrelink customers with bad credit, you may find that few lenders will consider your application. After all, lending to a borrower with bad credit is a risk. Moreover, if Centrelink payments account for a significant portion of your income, then you may find it challenging to afford the associated loan repayments.

While this is a familiar scenario, all is not lost. Monzi knows some lenders who may view Centrelink payments as income. As a result, in certain situations, they may be willing to offer loans to borrowers on Centrelink. However, for this to be possible, you must show that you are earning a consistent income and could cover your loan repayments without too much difficulty.

That said, approval is not certain and Monzi cannot guarantee if you will be offered such a loan. Instead, if we match you with a lender, they will conduct an assessment and determine your outcome. At the end of the day, if you are a Centrelink recipient with bad credit, securing approval may be tricky.

How do I repay my instant cash loan?

The lenders in Monzi’s network offer instant instalment loans for bad credit. In short, this means that if you are offered a loan, you will receive the cash amount upfront as a lump sum. From there, your costs are divided into a series of weekly, fortnightly or monthly repayment instalments over a fixed term. With this, note that you must repay any money you borrow with interest.

To make your repayments, your lender will typically help you to set-up a direct debit from your account. That way, you can make your repayments automatically and don’t have to worry about forgetting. Just ensure you keep enough cash in your bank account on the relevant dates. Once you’ve paid off the entire balance of your loan, the direct debit will cease.

Are there any no fee loans for people with bad credit?

Unfortunately, there are no loans without fees. Lenders may apply several fees and charges that will be added to your repayments. However, Australian regulations do cap some fees, meaning lenders can only charge up to a certain amount.

As a guide, lenders may apply the following fees on your loan:

  • Establishment fee
  • Dishonour fee
  • Administrative fees
  • Account fees
  • Late repayment fee
  • Early exit fee

Given this, ensure you read your loan contract carefully and note any fees or charges. That way, you will know exactly how much you must repay. Moreover, you won’t encounter any nasty surprises down the line.

What should I look for in a loan?

Not all loans are the same. Lenders may differ in the amounts they offer, the rates they apply and the fees they charge. As a result, before you agree to a loan, there some factors that you must consider:

  • Costs: take note of the interest rate as well as any additional charges that may be applied. Use the comparison rate to compare the loan you are offered to other similar loan products. In short, your comparison rate reflects your annual loan costs and is listed as a percentage of the amount you borrow.
  • Terms: how long do you have to repay your loan? Are lenders flexible if you want to repay your loan early or make changes down the line?
  • Credit provider: can you trust this lender? Do they have a current Australian Credit Licence? At Monzi, we will only match you with licenced Australian lenders.

For a more complete explanation, check out Moneysmart’s guide to personal loans now. It will further outline the points you may need to consider when offered a loan.

How can I manage my loan effectively?

The first step to managing your instant loan effectively comes before you apply. In short, you must have a clear understanding of how much you can afford to borrow and what repayments would suit your budget.

From there, it’s important to only submit a limited number of applications. Ideally, only one. While you may think that submitting multiple applications with different lenders will give you a better chance of finding one you can trust, this will hurt your credit score. As a result, the bad credit that’s been causing you issues will continue to follow you.

Finally, if you are approved for and agree to a cash loan, then you must make your repayments on time and in full. That way, you can begin to develop a strong repayment history. With this, if you have any issues, contact your lender ASAP and they may work with you to manage the situation.

Ultimately, the best way to manage an instant online cash loan 24/7 effectively is to borrow what you can afford to repay. Otherwise, you may find yourself in a bind with a budget that’s bent out of shape.

Are the rates on bad credit loans higher?

Unfortunately, as Monzi is not a lender, we cannot say with certainty if you will be offered a higher rate on a personal loan for bad credit. That said, to get an idea of how much you may repay, you can check out our Costs page now.

Beyond this, it’s worth noting that lenders prefer to offer loans to borrowers with good credit. After all, a high credit score reflects trustworthiness and reliability. As a result, in some cases, they may offer better rates to these borrowers. However, this is at the lender’s discretion.

In addition to this, secured loans for bad credit will usually come with lower rates than unsecured bad credit personal loans. Moreover, applying for a secured loan may improve your chances of receiving approval. However, secured loans are larger than unsecured loans, meaning you may have to borrow more.

Can Monzi help me from anywhere in Australia?

You bet.

We’re an Aussie lender-finder service that is accessible all over this vast land. It doesn’t matter whether you’re in the isolated oasis of Perth or the tropical heat of Cairns, our 100% online service right there in the palm of your hand. As long as you’re eligible, you can log onto our website at any time to submit your application.

In addition to this, as we’re online, it doesn’t matter whether you are at home or on the go. You won’t have to deal with numerous phone calls or line up at a branch location. Apply from the comfort of your lounge room or on the train as you head to work. Just ensure you have the necessary details required when you apply.

Ultimately, this is the Monzi difference. Our lender-finder service is quick, easy, accessible and could connect you with a lender in the blink of an eye. Apply today.

Instant cash loans for bad credit: apply today

Monzi knows that life doesn’t always go to plan. Moreover, the lenders we work with do as well. As a result, if bad credit has got you down, we could be there to pick you up. Apply today and we’ll do our best to find an understanding and available lender willing to consider your application. If you’re managing your money effectively today, then you may be approved for the cash you need today.

To get started, Monzi’s loan slider makes it easy. Just select your ideal loan amount and term. From there, your journey to finding fast cash is underway. Let’s go.

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Factor In


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


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.