Online loan apply so you can access credit from the comfort of your own home. Apply with Monzi and you may be paired with a great lender today.
Online loan apply with Monzi
Hi, we’re Monzi, one of Australia’s foremost lender-finder services. We might be able to make it simple and convenient to find lenders offering loans online.
In short, we match everyday Aussie borrowers with a range of top-notch credit providers.
Through Monzi, you may be matched with a lender offering cash loans from $300 to $10,000. Not only that, but the repayment period may range from 12 to 24 months.
Apply during business hours and you might be paired with a lender in just 60 minutes.
Ready to begin? Use the loan slider at the top of the page to apply for a cash loan in minutes.
Apply online for loans with bad credit
While in the past, traditional lenders like banks were reluctant to offer bad credit loans, consumers have a few more options now. Today’s online lenders may be willing to consider your application, despite your blotched record.
It’s all about a change in perspective. Rather than zeroing in on your credit history, lenders go further. They look at your current financial situation to determine your capacity to make the required repayments.
In short, your credit history won’t be the only factor.
As a guide, lenders may also take the following into consideration:
- Credit history
- Saving habits
- Repayment history or any outstanding debts with other lenders.
Ultimately, cash loans for bad credit may be available. However, you must meet the lender’s necessary qualifying criteria.
Personal loans online with instant approval
Need cash now? Online loan apply
Monzi works with some lenders who may offer a very fast outcome on your bad credit application. Once your application is received, they’ll waste no time conducting an assessment so you can have an outcome ASAP.
One thing to remember is that instant approval shouldn’t be taken literally. Due to Australia’s responsible lending legislation, all applications must be assessed to determine their suitability for your situation. As a result, some processing time will always be involved.
For a more in-depth breakdown of responsible lending requirements, the Australian Securities and Investments Commission website may be useful.
Quick loans online same day
While never guaranteed, same day loans may be possible through Monzi. Ultimately, processing speeds are at the mercy of the individual lenders within our network.
There are two things you can do to potentially put yourself in the best position for a quick outcome:
- apply during normal business hours; and
- provide all relevant information when you first apply.
If you do this, Monzi can potentially match you with a lender who may be able to provide you with an outcome ASAP. So long as you are approved, access to your cash will then be determined by the interbank transfer times.
While same day loans may be possible, a good rule of thumb is to account for a wait time of up to 24 business hours.
Online loan apply for Centrelink customers
If you’re receiving benefits, you might think that lenders will be unwilling to offer you a loan.
Luckily, that’s not the case. There are a number of lenders who might be understanding of your situation. They’ll assess your application like any other and, if you meet the requirements, you could be considered for approval.
After all, just because you receive benefit payments doesn’t mean you should be ineligible.
Keep in mind, however, that not all lenders will consider Centrelink payments as a form of income. Moreover, some may be unwilling to offer loans to Centrelink recipients at all.
As a result, approval may come down to the lender that you are paired with.
Online loan apply with Monzi
So, how do you apply?
Well, first things first, make sure you’re eligible. Tick these four boxes and you’re ready to begin:
- 18 years of age or older
- Australian citizen or permanent resident
- Have an online bank account with at least three months of transaction history
- Have a current email address and contact number.
Once you’re confident that you’re eligible, it’s time to move onto applying. Just follow these steps:
- Select the amount you wish to borrow and your preferred repayment period.
- Provide the required personal information.
- Wait while we try to pair you with an available lender.
- If we find you a match, the lender will contact you to begin the assessment process.
What is the best online loan?
The best loan for you will depend on your financial situation. As a result, Monzi is unable to provide any guidance.
Personal loans come in many forms and the terms of these loans can influence their suitability for your circumstances.
For instance, a loan with a 24 month repayment period may not work for someone looking for a short-term loan commitment.
Given this, make sure you do your research. In short, compare loans and lenders to try and find the terms that work best for you.
Can I get a loan without a bank account?
Unfortunately, you cannot.
If you online loan apply with Monzi, our eligibility criteria state that you must have an online bank account with at least three months of history.
This information is crucial for lenders to get an idea of your financial situation when they assess your application. It is, as a result, necessary.
If you do not have an online banking account then, unfortunately, you are not eligible to apply with Monzi.
Personal loans comparison
Struggling to decide which personal loan is right for you? That’s ok. In short, there is a number of factors you should consider.
While it may be easy to just accept the first loan you are offered, it pays to take your time. In fact, finding the right loan can potentially save you a stack of cash.
Consider the following when comparing loans:
- How much can you borrow?
- The interest rate
- Any fees or charges applied (e.g. late or account fees)
- Unsecured or secured loan?
- Who is the lender: check their reviews online to ensure they have a good track record of treating borrowers well.
Online loan apply – let’s go!
Monzi’s network of lenders may be able to offer the following personal loans.
|Loan type||Amount (AUD)||Term||Security|
|Small loan||$300 to $2,000||12 months||No|
|Medium loans||$2,100 to $4,600||13 to 24 months||Yes|
|Large loans||$5,000 to $10,000||13 to 24 months||Yes|
Keep in mind, the above table is just a guide. Moreover, the actual repayment terms of your loan may vary to what is presented above.
Scroll up and begin your application now.