Loans For Bad Credit Aussies Up To $10,000

Loans for bad credit history with Monzi. Apply today and you may be matched with a potential lender in no time. Apply for up to $10,000. All credit profiles welcome to apply. Approval always subject to assessment.

What are loans for bad credit?

Loans for bad credit are credit products potentially available to consumers with poor credit history. If you have one too many defaults or missed payments, bad credit personal loans may be an option.

A few credit mistakes in your past can leave your credit score in bad shape. Worst of all, this may hinder your ability to be approved for a loan.

Well, that’s how things used to be. These days, there are plenty of lenders who understand that your credit history doesn’t necessarily tell the whole story.

With this change in philosophy, many alternative lenders are now potentially willing to offer bad credit loans. As a result, you may get your cash today and can spread the costs over the coming months or years.

With Monzi, you can apply for personal loans for bad credit from $300 to $10,000. Apply and you might be matched with a great lender before you know it. Get started today!

24/7 instant cash loans for bad credit with Monzi

Monzi makes it simple to find great lenders offering loans online. Our lender-finder service is all about matching every day Aussies with a range of credit providers who can provide the finance they need. Best of all, our website is live 24/7.

All the lenders in our extensive network offer a variety of loan products, meaning we might be able to help you out no matter your cash need. From as little as $300 all the way up to $10,000, Monzi’s got you covered.

So, when you’re ready to get started, just scroll to the top of the page to apply for 24/7 bad credit instant cash loans. We’re ready and willing to try to help you out. Let’s go.

Examples of possible loans offered by our lenders can be seen below:

Loans for bad creditAmount (AUD)Approved
Unsecured bad credit loans$500
Short term loans for bad credit same day$1,000
Cash loans for bad credit$1,500
Loans for unemployed with bad credit fast$3,000

Disclaimer: you may not be eligible for the amounts or loan types presented above. Approval is always subject to assessment.

Payday loans for bad credit instant approval

Payday loans are about speed. You can borrow up to $2,000 and may be approved for loans fast. Moreover, the rapid repayment periods (sometimes as short as just a few weeks) mean you’re not locked into a long-term commitment.

In short, they’re one option to solve your urgent cash dilemmas. However, they’re not the only option. Personal loans are available too. While they are similar to payday loans, there are key differences.

With personal loans for people with bad credit, you may be able to borrow up to $10,000. Not only that, but with repayment periods that can range from 12 to 24 months, these loans might be more manageable for the borrower.

At Monzi, we aim to pair our users with lenders offering personal loans. As a result, if you are hunting payday loans in particular, you may need to do your own research.

Can I get cash loans for Centrelink customers with bad credit?

You may be able to get loans for Centrelink customers with bad credit Australia if you meet certain criteria. Lenders will assess your income and expenses before granting approval.

Within Monzi’s extensive network of lenders are a few credit providers who might be able to help. They may be understanding of your situation and willing to offer bad credit loans that some lenders may not.

One thing to keep in mind is that lenders do view Centrelink payments differently. While some consider these payments to be legitimate income, others may not. Moreover, it may also depend on the payment type that you receive.

As a result, approval may be contingent upon the policies of the lender that you are paired with.

Before applying for cash loans for people on Centrelink with bad credit, please consider all your options. After all, borrowing small amounts of money can be expensive and may not solve your financial issues. For more information, head to the MoneySmart website. Alternatively, you can call the National Debt Helpline directly on 1800 007 007.

Instant loans for bad credit: the fast finance you need

Cash emergencies usually strike at the worst possible time. While we all aim to manage our finances responsibly, having the cash-on-hand to cover every expense you encounter often isn’t possible.

If you’ve got a pressing expense that you can’t delay, instant loans could be the right choice for you. You get your cash ASAP while the costs are spread over the coming months. That means there’s no need to compromise your current budget.

When it comes to instant loans, one thing to keep in mind is that they aren’t truly instant. In Australia, lenders must assess all loan applications. As a result, there will always be some processing time involved.

Loans for the unemployed with bad credit

An a loan for unemployed Aussies? Monzi may know some lenders who might be able to consider your application.

In short, we work with a variety of lenders, some of who may be willing to take on a range of less-than-ideal circumstances.

There is, however, one important condition. If you are unemployed, you will need to provide evidence that you are earning a regular income in some form (e.g. Centrelink payments or rent received from an owned asset).

As we mentioned, however, borrowing small amounts of money can be expensive and may leave you in a worse financial position than before you took out the loan. Therefore, please consider all other options available to you. For example, micro loans for Centrelink customers may be available from certain community initiatives.

Small personal loans for bad credit

Got a little expense that you can’t quite cover?

Small loans bad credit could be an option for you. With unsecured cash amounts up to $2,000, you can borrow the money you need today and repay it over a fixed 12-month period. In other words, it could be a manageable short term loan option for borrowers with poor credit.

Can I borrow a little more?

Of course.

At Monzi, we work with lenders offering quick cash loans up to $10,000. As a result, if a small cash injection isn’t going to cut it, we may be able to put you in touch with a lender who can help.

Having said this, one thing to be aware of is that you must secure all loans over $2,000 with one of your assets (e.g. your car or boat). As a result, you cannot apply unless you own an eligible asset.

With this, it’s essential to understand the potential consequences before applying for a secured loan regardless of your credit history. As you are putting one of your assets on the line, you must be certain that you can afford the repayments.

Finally, note that if you do have bad credit, lenders may be hesitant to offer you large cash amounts. However, this may vary between lenders.

Where can I find loans for people with bad credit?

You may be able to find certain lenders willing to offer loans to people with bad credit through Monzi’s lender-finder. These lenders may be able to offer up to $10,000.

While your credit history reflects one part of your financial situation, it certainly doesn’t tell the full story. As a result, lenders have changed how they go about assessing your application.

While they may look at your credit history, they’ll also look at your income and expenses too. By getting an idea of your budget, lenders can determine if your loan repayments reasonably fit within your normal budget.

While approval ultimately remains in your lender’s hands, your bad credit history may not stop you from accessing the loans you need.

Are guaranteed approval loans for bad credit applications Centrelink available?


Due to Australia’s responsible lending regulations, lenders are unable to offer bad credit loans with guaranteed approval. In short, they must assess all applications to determine if the loan is suitable for the borrower’s needs and objectives. As a result, your outcome will be determined by your lender and a denied application is always possible.

With this, if you do come across lenders advertising loans no matter what, avoid them. Lenders offering guaranteed approval are breaching their responsible lending requirements. Moreover, loan assessments exist to protect you as a borrower to ensure that you can afford your loan. So, always ensure that you apply with a licenced lender who will do things by the book.

Easy loans for bad credit: convenient finance for you

Easy lenders simply refer to credit providers that cut through the rigmarole of traditional finance. Unlike certain credit providers, these easy lenders are more understanding of your circumstances.

Whether it’s bad credit, unemployment or low income, they may be able to help. Their requirements for approval may be more lenient, which allow them to offer loans to individuals previously considered to be high-risk.

In saying this, approval isn’t certain. Easy lenders may be more willing to work with you however, they will still assess your application like any other. Apply for an easy loan through Monzi today.

Quick loans for bad credit same day

Monzi and our network of lenders work fast. How fast?

Well, if you apply during business hours, then it’s possible to get a same day loan. Best of all, having bad credit won’t delay your application.

When you apply with Monzi, we aim to pair you with a lender in just 60 minutes. Your lender will then waste no time assessing your application to provide you with an outcome ASAP. At that point, access to your cash will be determined by your bank’s transfer times.

Unfortunately, however, bad credit loans on the same day are not always possible. Typically, it is wise to account for a wait time of up to 24 business hours.

Can you get car loans for bad credit?

Yes. If you need a new set of wheels, but your credit isn’t the best, then that’s okay. There may still be several lenders willing to offer car loans for bad credit history.

In further good news, car loans for Centrelink customers with bad credit may be available too! Obviously, however, you will still need to prove that you are earning a sufficient income to make the required payments.

So, are you ready to cruise the streets behind the wheel of your new car? Apply with Monzi. You can potentially borrow the cash you need to cover the cost of your vehicle.

However, keep in mind that we work with lenders who offer personal loans. Purchasing a new vehicle may just be one possible way to use your loan.

Loans for bad credit man sitting at desk sun shining through window

Am I eligible to apply with Monzi?

While at Monzi we aim to help as many Aussies as possible find great lenders, we do have a few boxes you must check before applying:

  • At least 18 years of age.
  • Australian citizen or permanent resident.
  • Have a current phone number and email address.
  • Earned a regular income for the three months prior to your application.

How do I apply?

Monzi’s application process is simple. You can have it completed in just a few minutes meaning you’ll be able to get on with your day sooner.

So, when you’re ready to apply, just follow these three steps:

Step one: apply

First, tell us how much you wish to borrow and your ideal repayment period. Then, enter the required personal details and hit submit.

Step two: search

This is where we take over. Once we receive your application, our automated system will scan our lender network to try and pair you with an available lender willing to assess your application. This may take as little as 60 minutes if you apply during business hours.

Step three: outcome

We’ll be in touch to let you know the outcome of our search. If you are successfully paired with a lender, then they will contact you to complete an assessment.

What are the best online cash loans for bad credit?

In short, Monzi cannot say.

We work with a host of licenced credit providers who may be able to offer online loans for bad credit. However, we cannot say which one is the best. After all, it will simply come down to your circumstances and needs. As a result, the right loan for you may not be the right loan for someone else.

In any case, if you apply with Monzi today, then we may be able to pair you with an available lender who can potentially offer the credit you need. Submit your application today and you may receive an outcome in just 60 minutes. Get the online personal loans for bad credit you need now.

Where can I get an instant unsecured loans for bad credit?

Apply with Monzi and you may be able to get unsecured bad credit loans. We work with several bad credit lenders, potentially able to offer secured and unsecured personal loans.

With so many lenders out there promising personal loans for people on Centrelink with bad credit and other such loans, it can be impossible to know what to look for.

That’s where a lender-finder like Monzi can help make your life a little bit easier. Rather than researching an endless number of lenders to find one that’s understanding of your subpar credit history, just submit a simple Monzi application.

From there, we’ll search our network of trusted lenders to find one that’s available to assess your claim; best of all, it’s fast. Apply during business hours and you might have an outcome in just one hour.

Is it possible to get a $5000 loan with bad credit?

Yes, it is possible to get a $5,000 loan with bad credit.

At Monzi, we work with lenders who offer personal loans from $300 up to $10,000.

One thing to keep in mind, however, is that if you are borrowing more than $2,000, then you will be applying for secured loans for bad credit. As a result, you must provide an asset to act as security on your loan (e.g. your car or boat).

Security is typically not required for loans under $2,000.

I need a $30,000 loan with bad credit

At Monzi, we only work with lenders who offer personal loans up to $10,000. However, we understand that this won’t always cover. In some cases, you’ll need to borrow even more.

Unfortunately, if you do, then we won’t be able to help. While some lenders and banks may offer long term loans for bad credit up to $30,000, you will need to do your own research. Compare lenders, rates and costs to find the right loan product for you.

In addition to this, keep in mind that if you are a borrower with bad credit, then accessing these large personal loans may be difficult. After all, lenders will typically only offer large cash sums to borrowers that are reliable and they can trust.

Where can I get a $200 loan with bad credit?

There may be lenders willing to offer micro loans under $200. Typically, these bad credit loans will only be used to cover a very minor expense, such as a utility bill, and may come with brief repayment terms (e.g. just a few weeks or months).

Unfortunately though, at Monzi, we will be unable to connect you with one of these lenders. After all, we only deal with lenders who offer cash loans fast from $300 to $10,000.

I’m a single mother: can I access loans for bad credit?

At Monzi, we happy to help Aussies from all walks of life. As long as you meet our eligibility criteria, you’re more than welcome to apply. And yes, that includes single mothers.

From there, we’ll do our best to pair you with an available lender from our network. While they may be accepting of applicants with bad credit, note that we cannot guarantee if you will be offered loans for single mothers on Centrelink with bad credit. All applications are subject to assessment meaning approval is not certain.

What about if I’m a pensioner?

Yes, potentially.

If you’re a pensioner (e.g. aged or disability) you are still eligible to apply with Monzi. From there, we may be able to pair you with a lender who offers loans for pensioners with bad credit.

However, approval is not guaranteed. Not all lenders are willing to offer loans to pensioners meaning it may come down to the lender that you are paired with. Moreover, you must prove that you are earning sufficient income.

Consolidation loans for bad credit

Managing multiple debts at one time is almost guaranteed to cause you stress. Monitoring the many interest rates, fees and repayments can quickly become impossible.

If you find yourself in this situation, debt consolidation loans may be an option worth considering.

In short, debt consolidation loans for bad credit roll all your debts into one, easy-to-manage loan. You’ll only have to worry about one interest rate, one lender and one regular repayment. Best of all, with its fixed term, you’ll know exactly when your debt will be repaid.

Before applying for a debt consolidation loan, ensure it is right for you. For more information about what debt consolidation involves, visit the relevant Moneysmart article. Alternatively, check out our guide to comparing consolidation loans.

What is the minimum credit score for a loan?

In short, there is no one answer. Lenders vary in their minimum credit score requirements meaning that it is difficult for us to provide a clear answer.

In any case, as a general rule, the higher your credit score, the better. However, your credit score alone won’t be enough for your credit application to be approved. Lenders will assess not only your credit history but your financial situation too in order to get an idea of you as a borrower.

As a result, it may be possible to access finance for bad credit regardless of your credit score, so long as you are in a secure financial position. However, requirements may vary between lenders.

How did I get bad credit?

Your credit history reflects your past credit behaviours. As a result, if you’ve got bad credit, then it likely means that you made a few credit-related mistakes. These are detailed in the form of listings on your credit report.

As a guide, the following credit listings may have a detrimental effect on your credit score and can cause you to have bad credit:

  • Missed payments
  • Credit defaults
  • Maxing out your credit limit
  • Bankruptcy
  • Applying for credit too regularly: multiple credit inquiries in a short time can lower your credit score.

Can I access my credit report?


Whether you’ve got good or bad credit, it’s never a bad idea to check your credit report. The good news is that you are entitled to one free copy each year. All you need to do is contact the relevant credit report bureau (e.g. Experian or Equifax) and it will be sent to you within approximately two weeks.

Once you receive it, inspect it thoroughly. Ensure that all the information is up to date and accurate. Incorrect listings may appear from time to time and they can impact your credit score. If you do spot an error, contact the relevant reporting agency to have it removed.

How long do listings remain on my credit report?

In short, it depends.

As a guide, listings and information will typically remain on your credit report for a period of between two and seven years. However, the exact length of time depends on the nature of the listing.

On the shorter end of the scale, your repayment history (e.g. loan repayments) will only be kept for two years.

On the longer end, listings such as hard credit inquiries, debt settlements and loan defaults can remain on your report for up to five years. Moreover, serious credit infringements and bankruptcies may not be cleared for seven years.

Given this, it’s crucial to implement and maintain good borrowing behaviours. While a slip up here or there might not seem like a big deal, bad credit can be difficult to overcome.

Loans for bad credit: improve your credit score today

Bad credit loans can be a lifesaver when you need cash and your credit score isn’t where it should be. However, they shouldn’t be relied upon.

Lenders may apply higher interest rates or fees to bad credit loans, meaning they can be an expensive short-term cash solution. That’s why you should start taking steps to improve your credit score today.

While there’s no instant fix, if you are disciplined and implement responsible borrowing habits over a long period, you can slowly but surely improve your credit score.

Key tips include:

  • Paying your bills on time
  • Rely on credit only when it’s absolutely necessary
  • Pay off your existing debts
  • Find the best deal before applying for credit (e.g. lowest interest rate)
  • Monitor your credit report for inaccurate listings.

What are the costs of loans for bad credit?

With any loan, bad credit or otherwise, you will always repay more than what you borrow. Typically, costs will come in two forms: interest and fees.

Firstly, all loans will come with personal loan rates. This is typically an annual percentage that will determine the amount you must repay on top of what you borrowed.

In addition to this, you may need to pay a number of fees and charges. They may be charged frequently (e.g. monthly account fees) or on a one-off basis (e.g. establishment fees).

Finally, be aware that the costs of your loan will be outlined for you in your contract. With this, before signing anything, read it thoroughly so you know what you’ll have to pay.

Before applying

While loans for bad credit Australia may be a handy option when you’re short on cash, they are not a perfect solution.

Borrowing more than you need or can afford is a recipe for disaster. Interest payment, fees and charges add up quickly and can soon become unmanageable.

That’s why it’s important to have a complete understanding of your financial situation before applying for loans for really bad credit. Know exactly how much you can afford to borrow and what repayment amount would work for your budget.

Other factors to consider include:

  • Your current expenses
  • Any major upcoming expenses
  • Your ideal repayment period
  • The interest rate applied
  • Any outstanding debts you currently have

What information do I need to provide when I apply?

Lenders will differ in the information they require to assess your claim. In saying that, there are a few things you should have on-hand before you apply for guaranteed loans for bad credit.

Providing all the required information when you apply ensures your application can be assessed without delay.

So, before you get started, make sure you have access to the following details:

  • Personal information (name, date of birth, etc.)
  • Contact details
  • Online banking information
  • Proof of income
  • An estimate of your current expenses
  • Any other relevant details (E.g. MyGov login).

Contact Monzi

Got questions about what Monzi’s quick and convenient lender-finder service entails?

Feel free to reach out. Just submit a contact form via our website here or email us at From there, one of our customer service team members will endeavour to provide you with a response ASAP.

Apply today

Ready to begin your Monzi journey? Scroll up and begin your application now!

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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.