Money Loans Explained By Monzi

Money loans are potentially available online from $300 to $10,000. Get the cash you need now and divide the cost evenly over the coming months or years. Keen to know more? Read on for Monzi’s comprehensive breakdown.

Please note, certain ideas and products presented in this article may not be offered by Monzi nor the lenders we work with. This article presents only general information. Consider seeking professional financial, taxation, legal or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Money loans explained

Money loans from $300 to $10,000 sound great, right? But what are they?

In short, these loans are standard, lump sum cash loans designed to get you the cash you need, when you need it. Whether your car’s broken down or it’s time for a new washing machine, these loans may be an option for you.

Best of all, there’s no need to compromise your current savings. With money loans, your repayments are divided into a series of even amounts, spread over the coming months or even years.

Through Monzi’s lender-finder service, we may be able to pair you with an available lender willing to offer the money you require. Just use our loan slider at the top of the page to begin your application.

Apply now.

Instant cash loans online

Online finance has never been more accessible than it is today. Do a quick search online and you will find that there is no shortage of lenders out there willing to offer instant cash loans.

Best of all, they’ve made it simple too. Applications can be completed in minutes and there’s no paperwork or meetings required. The 100% online process means you can apply, be approved and receive quick cash all from the comfort of your own home (or anywhere).

However, if you’re not sure where to begin, applying with Monzi could be a great first step. When you apply, we’ll aim to match you with a licenced, available lender in just 60 minutes. It may be the easy and convenient way to find a great lender online.

Money loans fast: what expenses can I cover

With money loans, you can cover almost any legitimate personal expense that you encounter. This is important because when you apply, you’ll need to provide a reason.

While the list of possible expenses is endless, some are more common than others. As a guide, frequent reasons for applying with Monzi include:

Who will give loans with bad credit?

While in the past finding lenders willing to consider bad credit applicants may have felt like a struggle, things may be different these days. Armed with a different approach, lenders are now much more willing to offer bad credit loans.

In short, rather than simply looking at your credit score, lenders will assess your budget (income and expenses) too. That way, they can get an idea of what might be affordable for you.

As a result, if you have worked your way into a secure financial situation then your poor credit history might not matter. You will still be able to access the cash loans you need.

In saying this, keep in mind that bad credit loans often come with higher interest rates due to the greater risk for lenders.

Fast cash loans no credit check

Credit checks are one tool lenders use to assess your suitability for credit. In short, they illustrate your history and reliability as a borrower. However, they aren’t always necessary.

In fact, some lenders may be willing to bypass credit checks entirely and offer no credit check loans. So, if you’re worried that your bad credit may be a problem, this probably sounds like the loan product you need.

In saying this, few lenders will offer these loans. As a result, their availability will depend on the lender that you are dealing with and their individual assessment policies.

In any case, as we’ve already mentioned, a credit check isn’t all there is to an assessment. Lenders will look at your complete financial situation meaning a credit check isn’t necessarily the be-all and end-all.

Easy cash loans

Are you currently in a less-than-ideal financial situation? Maybe you’ve got bad credit, earn a low-income or maybe you receive Centrelink benefit payments. Accessing credit is going to be difficult, right?

Luckily, that’s not necessarily the case. Some fast easy loan lenders may have requirements and criteria that aren’t quite as strict as other lenders. As a result, they may offer loans to individuals with circumstances that aren’t quite ideal.

However, approval is not certain. While these lenders may have more lenient criteria, your application will be assessed like any other to determine if you are suitable for credit.

Small money loans

Pesky, minor expenses have a habit of appearing at the worst possible moments. If you’ve haven’t quite got the required cash-on-hand, one option could be to apply for a small cash loan.

In short, small unsecured loans typically range from $300 to $2,000 and are repaid over just 12 months. They’re a short term commitment that gets you the cash you need now to cover those expenses that just can’t wait.

At Monzi, we work with a number of lenders who specialise in offering small loans. Submit an application today and we may be able to pair you with one such lender in just 60 minutes.

Money loans: something larger

Unfortunately, not all expenses are minor. As a result, small loans won’t always cut it. Luckily, lenders offering personal loans offer medium and large loans up to $10,000 too. That means we may have you covered no matter your cash need.

Small, medium and large loans do differ slightly in their features so it’s important to understand which you will be applying for before you begin. Check out the features of medium and large loans below:

Medium loans

  • $2,100 to $4,600
  • Secured
  • 13 to 24 month repayment term.

Large loans

  • $5,000 to $10,000
  • Secured
  • Repaid over 13 to 24 months.

Can I get money loans on Centrelink?


If you are a benefit payment recipient, then it’s still possible to access cash loans on Centrelink. However, it’s essential to understand that not all lenders will view Centrelink payments the same.

In short, while some will consider them a source of income, others may not. Moreover, certain payment categories may be viewed differently, too.

As a result, while it’s possible to access loans if benefit payments account for some or all of your income, approval is not certain. Lenders will assess your application to determine whether or not you meet the requirements and can afford to repay the loan. Moreover, the availability of these loans may depend on your lender’s policies.

What about fast money loans for unemployed?

Yes, just like loans on Centrelink, it may be possible to access credit if you are unemployed too. However, approval is often tricky. Moreover, there is an important condition attached to this.

In short, if you are unemployed and want a loan, then you must prove that you are earning some form of regular and consistent income. This may not be a wage or salary. However, it could include Centrelink payments or even rent payments you receive.

Without income, your application will be ineligible and you will not be approved. After all, if a lender is going to allow you to borrow money, then they must be sure that you can repay it.

Finally, keep in mind that even with a source of income, approval is not certain. You must still meet the lender’s necessary qualifying criteria for them to offer you a loan.

Instant approval loans need cash today

So, you need an instant loan? Before applying though, it’s important to understand exactly what that means.

In short, with an instant loan you won’t get your cash the second that you apply. This is because, in Australia, lenders are required to assess all applications in order to determine if the loan is suitable for the borrower’s needs and objectives.

As a result, there’s always going to be some processing time involved. Given this, an instant loan simply refers to a loan where you receive an outcome in what feels like no time. However, this time may range from minutes to hours depending on your application and lender.

Money loans hand putting coin into plastic piggy bank

Responsible lending

Given that we’ve mentioned assessments, it’s worth outlining what’s involved.

Based on the National Consumer Credit Protection Act 2009, lenders must not enter into a credit contract with a borrower that is unsuitable for the borrower’s needs and objectives.

This is determined through three responsible lending obligations that outline the steps lenders must take to determine this. These steps are:

  1. The lender must make reasonable inquiries into a borrower’s financial situation, needs and objectives.
  2. They must take reasonable steps to verify this information.
  3. Based on the information they’ve gathered, lenders must provide a final assessment as to whether the loan is suitable for the borrower.

Visit the ASIC website for further details on responsible lending. It may outline all the information you need to know.

Payday loans Australia: are they the right money loan for me?

Payday loans tend to get a lot of attention. However, if you’re new to the world of borrowing, then you may be unaware of precisely what they are.

In short, a payday loan simply refers to a small loan of up to $2,000, where lenders work fast to provide you with an outcome ASAP. Moreover, they’re often repaid over a maximum period of just 12 months, making them a short-term loan commitment. As a result, these loans exist to cover those pesky, minor expenses that you can’t quite manage today.

Unfortunately, at Monzi, we may not be able to pair you with lenders offer payday cash loans. That’s because we typically work with lenders who offer personal loans from $300 to $10,000. These loans may be a more suitable option when you need a cash loan today.

Cash loans Brisbane

Need cash loans in Brisbane?

Monzi can help.

Through our lender-finder service, Brisbane residents can apply for the money loans they need up to $10,000. Best of all, the lenders we work with may offer a range of repayments terms too. As a result, you can potentially borrow the money you need today and have the costs divided evenly over a fixed period of between 12 and 24 months.

Monzi doesn’t just work with Brisbane residents either. As long as you meet our eligibility criteria, you can apply from anywhere in Australia. North or south, east or west, it doesn’t matter to Monzi. We’re a lender-finder service run by Aussies, for Aussies.

Apply today.

Can I use a money loan to consolidate my debt?

Yes. One of the most common reasons Aussies give when applying for a personal loan is debt consolidation.

In short, debt consolidation loans involve borrowing money to repay your current outstanding debts. As a result, you’ll only need to make repayments on one loan. When done correctly, you can simplify your repayments and even save money on interest. It’s about taking the stress out of your debt.

If you would like to apply for a consolidation loan, then Monzi can help. Through our lender-finder service, we can potentially match you with a lender offering these loans from $300 to $10,000 with repayment terms of between 12 and 24 months. However, before applying, do your research and evaluate your circumstances to determine if this is the right choice for you.

How do I get emergency money?

Facing a cash emergency? Have an expense that just can’t wait? With emergency money loans, you may be able to access the quick cash you need.

In short, with emergency loans, you can apply at the time that suits you best. That might even be a weekend or a weeknight. From there, lenders will aim to provide you with an outcome ASAP so you can get your cash soon.

One thing to keep in mind is that applications received outside of business hours and on weekends may encounter delays. This is due to the fact that often lenders do not complete assessments during these times and banks may not process transfers either. As a result, you may need to wait until the following business day to access your cash.

Which loan is best?

In short, this will depend on your circumstances. Loans vary not only in their amount but in their repayment term too.

For instance, you can repay a small loan ($300-$2,000) over just 12 months. On the other hand, a larger loan may come with a repayment term of between 13 to 24 months.

As a result, Monzi is unable to say which loan is best. It will simply be up to you. As a guide, only borrow the amount you need. Moreover, try to repay your loan in an efficient manner while still ensuring your regular repayments are affordable and manageable.

Can I get a money loan with a 450 credit score?

Yes, potentially.

As discussed, lenders are now more willing than ever to assess bad credit applicants. In fact, a credit score of 450 is not a poor score for alternative lenders.

Lenders will consider your financial situation as a whole to determine what may be affordable for you. If you meet all the required criteria then your application may be approved.

However, lenders retain the right to offer loans for bad credit where they see fit. As a result, approval is not certain.

What credit score do I need to get money loans?

In short, it’s difficult to say.

While most lenders will impose a minimum credit score requirement, the exact number can vary significantly. After all, some lenders will be more prepared than others to consider bad credit applicants.

In any case, remember that even if you do meet the credit score requirements, that alone will not be sufficient to ensure that your application is approved. Lenders will put your budget (e.g. your income and expenses) under the microscope as well to determine if you can afford the associated loan repayments. As a result, two borrowers with identical credit score may receive different outcomes based on their financial circumstances.

Given this, Monzi cannot say what credit score you may need to get a money loan. However, generally speaking, having a higher credit score is usually better.

How can I get a $3,000 loan?

One simple way is to apply with Monzi. Through our lender-finder service, you can potentially be paired with an available lender willing to offer the money loans you need. Best of all, you’ll have the choice of repayment terms ranging from 13 to 24 months.

All it takes is one simple application. You’ll need to provide your preferred loan amount as well as a number of personal and financial details. At that point, our automated system takes over and seeks to find an available lender willing to assess your application.

From there, we’ll get out of the way and your lender will assess your application. So long as you meet all the required criteria, your application will be approved and you might have your cash before you know it.

How can I get money fast without a loan?

If you decide that applying for a fast cash loan through Monzi is not the right choice for you then that’s okay. There may still be several other ways that you could potentially access the cash you need.

As a guide, these may include:

  • Sell your old stuff: whether it’s through a garage sale or via Facebook Marketplace, discarding your unused things can potentially be a handy money earner.
  • Pick up odd jobs: apps like Airtasker allow you to complete tasks for people from your local area or online. So, if you’re a bit of a handyman or have skills that you can put to use, this can be an easy way to earn a little extra pocket money.
  • Complete online paid surveys: some market research companies will pay you to provide feedback on products and services. While the reward for completing one survey may seem small (i.e. just a few dollars), over time, it can add up.

Finally, some pay on demand apps in Australia may allow you to borrow up to $750 of your earned wages through a pay advance. While this does involve a loan, sometimes, the costs may be lower than those offered on standard cash loans.

How can I get a $200 money loan?

If you’re after a micro loan to cover a minor expense, then there may be a few lenders who can help. Unfortunately though, at Monzi, we only work with lenders who offer money loans from $300 to $10,000. As a result, if you’re hunting a $200 loan you must do your research.

Money loans repayments

When you apply, you’ll have to make a few decisions. Not only will you have to decide between repayments periods ranging from 12 to 24 months, but you’ll also need to choose between weekly, fortnightly or monthly repayments.

In short, select the one that works best for your circumstances. A great tip is to sync your repayments with your income. If you are paid monthly, make monthly repayments. However, it’s ultimately your decision.

Making repayments is easy too. Simply establish a direct debit from your account and they’ll be automatic. You won’t need to lift a finger. All you need to do is ensure you have the required funds in your account on the relevant dates.

Can you deny an approval money loan?


If you are approved for and offered a loan, you are not obligated to accept it. Just inform your lender that you do not wish to proceed and your loan application will be cancelled.

Note that this is only possible before you sign your contract. Once you have agreed to your loan, there may be no way for you to back out on the deal.

Finally, keep in mind that the loan you are offered may vary from the loan that you’ve applied for. While it’s understandable that this may be frustrating, lenders may modify the terms of your loan to make it more suitable for your circumstances. However, if you are unhappy with these terms, then again, you are free to decline the offer.

My application was unsuccessful: why?

Unfortunately, Monzi cannot say.

As we are a lender-finder service, we do not conduct your assessment. Moreover, once you’ve been paired with a lender, we are no longer involved in the process. As a result, we will be unable to say why your application was rejected.

Having said this, in most cases, if your application was unsuccessful, then it means that you failed to meet one of the necessary criteria. This could relate to your income, credit history or the terms of your preferred loan. However, for a clear answer, you must contact your lender directly.

Can you spend a personal loan on anything?

Yes, within reason.

Lenders offering money loans will typically allow you to use them to cover most personal expenses. However, when you apply, you must provide the exact reason. While some reasons are more common than others (e.g. car repairs), generally speaking, as long as it’s a legitimate expense, lenders will be willing to consider your application.

Having said this, keep in mind that applying for a personal loan should not be done frivolously. These loans exist to cover immediate and necessary expenses. As a result, if the item that you are looking to purchase is a luxury and not a necessity, then a personal loan may not be the right choice for you.

Do personal loans go into your bank account?


If you agree to a loan, then your lender will transfer the cash into your nominated bank account. While in some cases it may be possible to access your cash on the same day, keep in mind that it’s often wise to anticipate a waiting time of up to one business day.

Does being denied for a loan hurt your credit?

In short, it can.

If you apply for a loan and a lender conducts an assessment then a hard credit inquiry will be listed on your credit report. A number of these listings in a short period of time may hurt your credit.

Given this, before you apply, it’s vital to ensure that you are eligible and that your financial situation is in order. This will give you the best chance of being approved. However, remember that approval is never certain.

Is it better to apply for a money loan online or through a bank?

It’s totally up to you.

While banks have long been the primary source of personal loans, over the last few years, there has been a significant increase in the number of online money lenders.

In short, these lenders can make loans easy for you. As they’re 100% online, you can apply from the comfort of your own home. Moreover, they may be able to offer a range of cash amounts and repayment terms too.

Again though, it’s your decision. Evaluate your options and the costs associated (e.g. fees and rates) to determine which lender or bank may be able to offer a product that suits your needs.

Is it safe to apply for a loan online?


If you are dealing with a licenced credit provider, then there should be no reason for you to worry. After all, these lenders are bound by strict protocols and lending requirements that mean they must act responsibly.

If you are unsure whether or not your lender is licenced, then it’s easy to check. Head to their website and you should find it listed there. Alternatively, you could contact them directly and they should be able to provide it for you.

Money loans and Monzi

Keen to access loans online through Monzi’s lender-finder service? Borrow cash amounts from $300 to $10,000.

The below table shows examples of the loans past Monzi customers went on to be approved for:

Short term loans$800Blacktown, NSW
Easy loans$3,000Redcliffe, QLD
Quick cash loans$10,000Whyalla, SA

The above table is just a guide. The actual loan you may be offered may not reflect what we present above.

Am I eligible to apply with Monzi?

Monzi’s here to help everyday Aussie borrowers just like you find lenders offering personal loans online. However, before you apply, it’s important to note that we do have a few criteria that you must meet to be eligible.

No need to worry, though. They’re quite simple. Just make sure you tick these four boxes:

  • 18 years of age or older.
  • Australian citizen or permanent resident.
  • Have a current contact number and email address.
  • Possess an online bank account with at least three months of history.

Note that if you fail to meet any of these criteria, then your application may not progress.

How do I apply?

At Monzi, we aim to ensure that applying is as easy as can be. That’s why we’ve refined our process down into just a few quick steps. As a result, you can potentially apply in minutes and get on with your day sooner.

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

  1. Select your loan amount and repayment term using Monzi’s loan slider.
  2. Enter the necessary personal and financial details, then submit your application.
  3. Kick back while we attempt to pair you with an available lender from our network. If you apply during business hours, then we may have an outcome for you in just 60 minutes.
  4. We’ll be in touch to let you know the outcome of our search. If we successfully pair you with a lender, then they will contact you to begin the assessment process.

Why should I apply for money loans through Monzi?

Monzi’s lender-finder service can potentially make it quick and easy to find loans online offered by a range of high-quality lenders. However, that’s not all. If you decide to apply with Monzi, you’ll experience these other great benefits too:

Fast outcomes

If you apply during business hours, then we may be able to pair you with an available lender from our network in just 60 minutes. From there, they will be in touch and will aim to conduct your assessment promptly so that you receive an outcome ASAP. However, keep in mind that applications received outside of usual business hours often encounter delays.

Our system is safe and secure

Cyber-security giants McAfee and Comodo protect Monzi’s online system. As a result, your details are always safe with us. This is great for peace of mind given that sharing your information online can often seem daunting.

Lenders that you can trust

At Monzi, we’ve worked hard to develop an extensive network of lenders that you can trust. With this, if you apply through Monzi then you can be sure that you will only ever be paired with a licenced credit provider who will comply with their responsible lending obligations.

In addition to this, if a lender offers you a loan, then nothing will be hidden from you. All your costs, fees, rates and repayments will be clearly outlined for you in your loan contract. As a result, you must read it carefully so that you don’t encounter any surprises down the line.

Apply anywhere, anytime

The best thing about Monzi is that we’re a 100% online-based organisation. As a result, you can access our services from anywhere. It doesn’t matter whether you’re in a city or town, up north or down south, as long as you’re connected to the internet, Monzi’s lender-finder service is available to you.

In addition to this, you can apply whenever you like too. We’ve made sure that our website is live 24 hours per day, seven days a week. So, when you need to apply, we’re ready and waiting. Just remember that you may experience delays if you apply outside of standard hours.

We’re always willing to help

At Monzi, we’re always happy to help you in any way that we can. So, if you’ve got any questions, queries or concerns, feel free to get in touch.

Email us at or submit a contact form via our website, and one of our friendly customer service team members will aim to get back to you ASAP. Just keep in mind that we will only monitor this account during business hours. Not to worry, though. We’ll get back to you as soon as we return to the office.

Finally, note that we can only answer questions that relate to our organisation and service. As a result, you must contact your lender directly for matters that relate to loans that you’ve taken out.

Apply today

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Scroll up and use Monzi’s loan slider to begin your application now. Let’s go.

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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.