Loan Application – How To Apply Online

Submit a loan application with Monzi today. Access cash loans up to $10,000 through Monzi’s lender-finder service. Apply and we may be able to match you with a lender in just one hour.

What is a loan application?

Your application is simply a collection of information that you must provide in order to be assessed for a loan.

Typically, your application will include your loan amount and preferred repayment period, general personal information and some necessary financial details.

Lenders then use this information to determine if you should be offered credit. It’s that simple.

How do I submit a loan application online?

One easy way is to apply with Monzi. Our lender-finder service might be able to make it simple and convenient to be paired with a great lender today.

We’ve covered the information that you need to submit an application with Monzi today. From bad credit to assessments and everything in between. Let’s go.

What loans can I apply for?

At Monzi, we work with lenders who offer loans of all shapes and sizes. In short, you can borrow from as little as $300 all the way up to $10,000. That way, no matter your cash need, we might be able to help. With this, you will either apply for a secured or unsecured loan.

Firstly, unsecured loans cover amounts from $300 to $2,000. You may repay these loans over 12 months, meaning you can borrow cash today to account for a pressing expense and have it repaid before you know it. Moreover, as it’s unsecured, there’s no need for you to provide an asset to guarantee the loan.

On the other hand, if you’ve got a significant financial shortfall on your hands (e.g. major car repairs), then you may need to apply for a secured loan. In short, lenders may offer these loans for amounts up to $10,000. As they are secured, you must have an eligible asset, registered in your name, that you can use as security. Usually, this will be your car, boat or caravan. If you cannot provide this, then your only option may be to apply for a small, unsecured loan.

Before your loan application: are you eligible?

At Monzi, we have four boxes that you must tick before you begin your application. While they are relatively simple, they are also necessary. Check them out:

  • At least 18 years of age.
  • Australia citizen or permanent resident.
  • Have a current email address and phone number (so we can contact you).
  • Possess an online banking account with at least three months of history.

Loan application guide

Now that you’re eligible, it’s time to apply. Just follow our four-step process listed below. It’s as easy as can be.

Loan application step one

First things first, we need to know some key details. Using Monzi’s slider select your loan amount and repayment period (if applicable). At that point, you’ll get an estimate of what your repayments will be based on weekly, fortnightly or monthly repayments. However, these estimates are only a guide.

Step two

You’ll then be prompted to enter some personal and financial details. While this includes basic information such as your name, date of birth and the purpose of your loan, you’ll also need to provide your internet banking details. Our automated system uses this information to access your bank statement which is then passed onto any potential lenders.

Once that’s completed, submit your application.

Step three

Our automated system will then get to work and try to pair you with an available lender from our network. Apply during business hours and we might have a match for you in just 60 minutes.

Step four

We’ll be in touch via text with your outcome (good or bad). If you are paired successfully with one of our lenders, then they will contact you to begin the assessment process.

What information do I need to provide?

As we’ve mentioned, as part of your loan application you will need to provide some key personal and financial details. Lenders use this information to assess your claim. As a result, if you would like your application to be assessed without delay, ensure you provide all the required information when you apply.

This includes:

  • Personal details (name, date of birth, etc.)
  • Current income
  • Expenses
  • Loan purpose
  • Online banking details
  • MyGov details

Will I get accepted for a loan?

Not necessarily. Due to Australian lending law, lenders must assess all applications they receive to determine the suitability of the loan for the borrower. As a result, approval is never certain. Instead, lenders have to meet the following responsible lending obligations in order to reach a decision:

  • Make reasonable inquiries into a borrower’s financial situation and loan objectives
  • Take reasonable steps to verify this information.
  • Make a final assessment as to the suitability of the loan for the borrower.

How do I compare loans?

Loans can differ significantly based on a number of factors. If you’re looking to find the best deal, then comparing personal loans is crucial. If you’re lucky, you might even be able to save yourself money.

So, before agreeing to your loan, consider the following:

  • The interest rate: lower is usually better.
  • What is the interest rate and are there additional fees?/li>
  • What repayment terms are on offer and are these affordable?
  • How much can I borrow from this lender?
  • Is this a licenced and reputable lender?

Loan application two people holding phones while laughing

How can I get a loan immediately?

At Monzi, we work with some lenders that specialise in instant loans. In short, they’ll assess your application so quickly that it feels like you have an outcome in no time.

If you’re in the midst of a financial emergency, then this can be a game changer. You might have your cash before you know it.

However, remember that an instant approval online loan doesn’t mean you’ll get your cash the second you apply. After all, every loan application must be assessed. As a result, there will always be some processing time.

Can I get a loan same day?

Same day loans are potentially offered by some lenders, however, they may not always be possible.

If you apply during business hours, then Monzi may be able to pair you with an available lender in just 60 minutes. Subsequently, your lender may be able to assess your application and provide you with an outcome fast.

If everything goes to plan and your application is approved, then your cash will be transferred to you. At that point, inter-bank transfer times will determine when you can access your money

So, while it may be possible to get your cash on the same day, ultimately, it won’t always be possible. There are a number of factors outside of your control that may affect their availability. As a result, account for a waiting time of at least one business day.

Can I apply with bad credit?

Yes, if you’ve got bad credit, you’re still welcome to submit a loan application with Monzi. In fact, we may know a number of lenders that may be willing to help when you need a loan with bad credit.

In order to assess bad credit applications, lenders may place more importance on your current financial situation. While your credit history may give lenders an idea of your reliability as a borrower, your income and expenses may be just as instructive.

From that, lenders may be able to determine what repayments could be affordable for you.

While approval is not certain, your poor credit isn’t necessarily the end of your application. Lenders will consider your complete financial situation in order to assess your suitability for loans with bad credit.

Should I apply for a secured or unsecured loan?

In short, this will depend on your financial situation and the amount you are looking to borrow.

Typically, unsecured instant decision loans are only offered for smaller amounts up to $2,000. On the other hand, you may be able to apply for a secured loan of up to $10,000.

The difference between the two comes down to security. With a secured loan, you must sign over an asset as security. If you fail to make your repayments, then the lender may take steps to repossess the asset in order to cover their losses.

With an unsecured loan, there is no such requirement.

Given this, consider each type of loan and decide which is right for you before you begin your application.

Are online loan applications safe?


At Monzi, our system is secured by two of the world’s leading cyber-security services: Comodo and McAfee.

That means your personal details are safe with us. You can be sure that when you apply, your information will only be viewed by those who need to see it.

While it can be worrying to submit your personal information only, you can rest assured knowing that you’re safe with Monzi.

Can you withdraw a loan application?

You are able to withdraw your application at any point until you have signed the contract. After that, things may become very difficult.

As a result, make sure you read through your contract thoroughly before making a decision. In particular, pay attention to:

  • interest
  • fees and charges
  • loan term

Get in contact with your lender if you are unsure of anything in your contract. Moreover, if you feel that the repayments are unmanageable or the costs are too high, inform your lender that you do not wish to proceed. Don’t agree to a loan just because it was offered to you.

Why was my loan application denied?

Unfortunately, as Monzi does not conduct assessments, we are unable to say exactly why your application was denied. In short, it is likely that your application failed to meet one of the necessary requirements outlined in the lender’s assessment policy.

For further details, contact your lender directly. They may be able to provide you with the exact reason your application was unsuccessful.

However, note that an unsuccessful application today won’t stand in your way of applying with Monzi in the future. If your financial situation improves, then you are more than welcome to apply again.

I have questions about my loan application: can I contact you?

Yes. At Monzi, we’re always willing to answer your questions. So, if you’ve got any queries or concerns about the process we’ve outlined, email us at Do that and one of our customer service team members will get back to you as soon as they can.

However, keep in mind that communication received outside of business hours may encounter delays.

Furthermore, Monzi can only answer questions that relate to our service. As a result, if you have a question about a loan you’ve taken out, contact your lender directly. We cannot speak on behalf of other organisations and as a result will be unable to answer your questions.

How else can Monzi help me?

Over the time we’ve spent in the lender-finder game, we’ve picked up one or two things. Moreover, while we may not be able to find you all of these loans, we can still give you a lot of information on:

Apply now

Ready to submit an application with Monzi? Apply for a cash loan in minutes 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.