Payday Loans No Credit Check? $300 To $10,000 Through Monzi

Payday loans no credit check may seem like a good option if you’re in a financial pinch. Monzi, however, does not offer loans ourselves. We are, instead, a lender-finder that may be able to pair you with a lender who could offer a bad credit loans for Aussie consumers.

Disclaimer: Monzi cannot guarantee whether or not the lender you are paired with will conduct a credit check. A credit check may or may not be part of a lender’s assessment policy. Monzi has no control over the assessment of applications.

Payday loans no credit check written on three surfboards at dawn

What are payday loans?

Unsecured small loans provided by a payday lender.

Payday loans no credit check are sometimes known as cash loans. Additionally, these loans often have short repayment terms; sometimes as little as a few weeks.

Payday loans no credit check are usually repaid by:

  • a direct debit from your bank account; or
  • a deduction from your pay.

Keep in mind, not all lenders will offer funds without checking your credit report.

Moreover, you are not gauranted to receive loans the same day you apply. Access to funds is usually dependent on inter-bank transfer times.

Payday loans no credit check Australia – a love story

Australia fell in love with small-amount loans in the late ’90s and has, since then, never looked back. In particular, around the turn of the century, banks and credit unions began to cut back on their short-term lending. This opened up a market for borrowers looking for fast and easy access to loans.

The demand for short-term, small-amount loans increased twentyfold in the decade leading up to 2014. In addition, it was estimated more than one million Australians took out this type of loan, which generated fees and interest rate charges of up to $1 billion.

Despite this, payday lenders are not your only option. Moreover, you could consider a personal loan instead.

No credit check guaranteed approval loans

Payday loans no credit check guaranteed approval may, initially, seem like a saviour for people looking for quick cash loans with a poor credit score. However, borrowers should be very, very wary of any lenders offering guaranteed approval.

If you’re looking for loans and receive Centrelink, these lenders may be tempting.

Offering guaranteed approval is in direct contradiction of the responsible lending obligations as outlined by the Australian Securities and Investments Commission (ASIC). ASIC is an independent government body that acts as Australia’s corporate regulator. In particular, ASIC’s role is to enforce and regulate company and financial services laws.

In particular, to meet their responsible lending obligations, credit providers must undergo the following steps.

  1. Make reasonable inquiries about the consumer’s financial situation, as well as their requirements and objectives.
  2. Take reasonable steps to verify the consumer’s financial situation.
  3. Make a preliminary assessment, or final assessment, about whether the credit contract is not suitable for the consumer.

Therefore, any lender that offers guaranteed approval on your application, is not fulfilling their obligations. In short, the lender has not made reasonable inquiries into whether or not a loan product is for you. Moreover, they haven’t made any inquiries at all!

You are able to access a full copy of the regulatory guide via ASIC’s website.

Instant approval no credit check loans

An instant approval loan is a loan product that is processed quickly.

In particular, these lenders target consumers who are in an urgent need for cash. However, as we’ve established, cash advance lenders may also have short and inflexible repayment terms. In addition, if you fail to meet these repayment terms, you may be charged very high fees that can quickly snowball into debt.

If you are one of these consumers, there are other options available to you outside of cash advance lenders. Although, we will touch on these in a moment.

What are no credit check loans Australia?

A no credit check loan is, as the name suggests, a type of loan where the lender does not access your credit report during assessment. Instead, the lender will base their assessment on your income and bank statements. These loans are, in particular, popular with payday lenders.

Bad credit loans explored

Many people with a poor credit record may feel that a cash advance loan for poor credit is their only option. This is often because traditional lenders like banks may not be willing to lend money to a borrower with poor credit.

Your credit report, in short, is a summary of your credit history as well as other certain information. Therefore, your credit score helps a lender determine your creditworthiness.

Experian and Equifax are the two largest credit reporting bureaus in Australia. You are, additionally, able to get a free copy of your credit score from the following websites:

So, while a lender like a bank may be unwilling to lend to you, there are more options available to you outside of payday loans no credit check.

Payday loans no credit check – what are my other options?

There are other credit options available to borrowers with bad credit.

If you have bad credit, and need to cover an unexpected or emergency expense, you could consider applying for a personal loan. Personal loans generally have longer repayment terms than cash advance loans and may have more reasonable fees.

Finding a lender offering a bad credit personal loan may, however, be difficult. This is due to the sheer number of online Australian lender options available. There’s no need to worry though, Monzi is here.

Monzi Loans

Monzi is a 100% online lender-finder, run by Aussies for Aussies. What do we do? Well, we make finding a personal loan lender the easiest thing you’ll do all week.

All you need to do is fill out our online form, and then our automated system will get to work scanning through hundreds of different loan products. If successful, we’ll pair you with a lender who fits your individual circumstances.

The best part? Not only can we do this all super quickly, but we may be able to pair you with a lender who can look past your bad credit.

Forget searching online for multiple lenders. Instead, let Monzi take care of it for you.

Payday loans vs. personal loans

We’ve all been there before; an unexpected expense pops up and your bank account is in no state to cover it. Next, the panic starts to set in. If you have bad credit, especially, you know there is no way a bank is going to lend a hand.

What, then, are your options? You may start searching online for payday loans no credit check. After all, online payday lenders seem to offer instant approval and cash in your account within 60 minutes.

While these lenders may seem initially attractive, they may not be your only option.

In short, many payday lenders are only able to offer small unsecured loans of $2,000 or less. Furthermore, repayment terms are often short.

On the other hand, Monzi may be able to pair you with a lender personal loan for lacklustre credit. Now, while this lender may conduct a credit check on your application, they may be willing to look past your previous mistakes.

Moreover, personal loans may give you the option of choosing between secured or unsecured loans, potentially up to $10,000.

Monzi finds alternatives to payday loans no credit check

At Monzi, we’ve made it our mission to provide instant access to quality cash lenders for as many Australians as possible. Therefore, to maximise our reach, we work with lenders who can offer a wide range of loan options.

In particular, Monzi can find you a lender who may be able to offer three broad categories of bad credit personal loans:

Loan TypeAmount ($) AUDRepayment TermSecured
Small personal loan$300 to $2,00012-months
Medium personal loan$2,100 to $4,60013 to 24-months
Large personal loan$5,000 to $10,00013 to 24-months

Depending on the lender you’re paired with, repayment terms may vary.

Keep in mind, small personal loans are normally unsecured. Therefore, you will not need to use one of your assets as security.

Medium and large personal loans, however, are secured. In short, you will need to attach your car, motorbike, caravan or boat as security against the loan. It should be noted, you must be the registered owner of a vehicle to attach it as security.

How do I apply?

Interested in getting started with Monzi’s lender-finder service? After all, it may just be one of the easiest ways to find a lender offering bad credit loans.

First – apply online

To get started, scroll up to the loan slider at the top of the page. Next, select the amount you’re thinking of borrowing, as well as your ideal repayment terms. Finally, once you’re happy, click Apply Now.

You’ll be given a rough estimate of what your weekly, fortnightly and monthly repayments may look like as you enter in your ideal terms. This is, however, just a guide. Your actual repayments may vary between lenders.

Secondly – kick back

Once you have filled out all the information we need from you, our automated system will get to work. Depending on when you apply, we could even have an outcome for you within minutes. We will, usually, let you know via text and email, so keep an eye on your notifications.

Finally – meet your new lender

If we’re successful, your new lender should be in touch. Generally, you’ll deal with them directly from here on in. Finally, they’ll conduct an assessment of your application, and if you’re approved, send through a digital loan contract. Once you have read through and signed your loan contract, your lender will get to work transferring your loan.

Is it possible to borrow money with bad credit?


Monzi can absolutely try and pair you with a lender who might be willing to lend you a personal loan, despite your bad credit.

How does this work? Well, Monzi uses some of the latest in safe-banking technology to access a read-only copy of your bank statements. We are then, in turn, able to pass this on to your potential lender. By providing a read-only copy of your bank statements, lenders are able to get a better understanding of your current relationship with money.

Therefore, if a lender is able to see you’ve been receiving a regular income for the last 90-days, and have been keeping up with whatever other repayments you may have, you stand every chance of being considered for approval.

Oh, and by accessing your bank statements electronically, you don’t have to submit any physical documents or paperwork. Not bad, right?

Find cash loans with fast approval

We realise our customers want their experience with Monzi to be as fast and stress-free as possible.

In addition, we’ve teamed up with lenders who can approve your cash loan application fast.

Monzi’s automated system will aim to quickly pair you with a lender. If we’re successful, you’ll deal with your new lender directly.

Approval times will vary between lenders. There are, however, certain factors that may affect the time it takes to be approved. In short, these include:

  • whether or not you applied during normal business hours;
  • the policies of the individual lender themselves; and
  • whether or not your lender needs additional information from you.

To conclude, there is a number of factors that may affect your access to money.

I need my cash in 1 hour – is this possible?

As the lender-finder, it is impossible for Monzi to give an estimate on when you’ll be able to access funds.

This is due to different lenders varying in processing times. Not to mention your own banking circumstances affecting when you can access your loan.

In general, however, most lenders will aim to transfer your funds after you approve your loan contract. If you approve your contract during normal business hours, you may be able to receive your loan the same day, or the next business day.

Want to get a better idea of when you’ll be able to access your loan? You may want to get in contact with your lender directly.

Can Monzi find me a loan without a credit check?

Monzi, as the lender-finder, does not perform a credit assessment on your application. However, we cannot guarantee whether or not the lender we pair you with will conduct one.

Despite this, Monzi works with lenders who may be willing to offer you a bad credit personal loan.

Looking for a personal loan between $300 and $10,000? If you have bad credit, consider using Monzi’s lender-finder service.

So, what’s the easiest loan to get with a bad credit record?

Some borrowers may feel they should be googling cash loans no credit check when they are in need of some easy, stress-free cash. Admittedly, while these lenders may be very easy to qualify for, they may not be your best option in the long run.

Therefore, consider Monzi’s lender-finder service. We may be able to pair you with a lender who could offer a bad credit loan of up to $10,000.

Can I use Monzi even if I’m unemployed?

Yes, you can use Monzi’s service if you are unemployed and looking for cash.

Monzi works with lenders who may be able to regard regular Centrelink benefits as a form of income. As a result, you will need to have received regular Centrelink income for the last 90 days.

It is important to note, however, approval is always at the discretion of the lenders themselves. They will always conduct their own assessment of your application. In short, Monzi can never guarantee whether or not you will be approved for a loan.

What can my loan cover?

Below are some of the more popular reasons Monzi customers take out a personal loan.

Ready to apply?

Start by scrolling to the loan slider.

On the other hand, if you have any further questions, jump on over to our FAQs.

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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


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%. 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

24 months


48% annual percantage rate

67.41% comparison rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. 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

24 months


21.24% annual percantage rate

48% comparison rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. 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.