Personal Loans Online – Monzi’s Lender-Finder

Personal loans online could be the convenient access to credit you’re looking for. Do you need a personal loan from $300 to $10,000? Apply with Monzi and we may be able to match you with a potential lender in no time. Keen to know how our lender-finder service works? Read on!

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.

What are personal loans online?

In short, personal loans online are lump sum cash loans ranging from $300 to $10,000. However, unlike certain traditional loans, they’re 100% online.

That means you can apply whenever and from wherever you like. All you need is an internet connection. You can apply and be approved all from the comfort of your own home. There’s no paperwork to fill out or meetings with lenders required.

Have an expense that just can’t wait? Need a cash injection to cover a cost that your savings can’t quite manage? Personal loans could be an option for you.

Apply with Monzi’s lender-finder service today. We may be able to match you with a potential lender in under an hour if you apply during normal business hours.

How can Monzi help with online personal loans?

Hi, we’re Monzi and we’re one of Australia’s leading lender-finder services. In short, we aim to match everyday Aussie borrowers with a great online lender from within our panel of credit providers.

Put simply, we aim to take the hassle out of finding lenders. All you need to do is submit one simple application and our clever system will attempt to pair you with a potential lender who might be able to offer the loans you need.

Through Monzi’s lender-finder, you can apply for cash amounts from $300 to $10,000. Get the cash you need now and spread the cost over the coming months or years.

When you’re ready to begin, just use Monzi’s loan slider at the top of the page. It’s as easy as can be.

Personal loans online instant approval

Need cash in a hurry? At Monzi, we work with a host of lenders offering fast loans online.

In short, if you apply during business hours, they won’t waste any time in assessing your application. In other words, if you supply all the required details, you can potentially get an instant loan. Moreover, if everything goes to plan, it may even be possible to receive same day cash loans.

Having said this, it’s usually smart to account for a waiting time of up to 24 hours. While lenders will do all they can to get you the cash you need, there are other factors that at play (e.g. interbank transfer times). As a result, it’s not possible to say exactly when you will get your cash.

Is it possible to get personal loans for bad credit?

Think your bad credit loans aren’t available? Think again.

While in the past, most lenders were hesitant to consider bad credit applicants. Things are a little different these days. Now more than ever, online lenders are willing to consider offeringreally bad credit loans.

In short, it’s about a change in philosophy. Rather than basing their assessment solely on your credit history, lenders consider your complete financial situation. As a result, your credit history is simply one consideration.

So, if you’ve made some mistakes in the past but have worked yourself into a secured financial situation, then you can potentially be approved for a loan even with lacklustre credit.

In saying this, approval is not certain. Lenders retain the right to offer personal loans for bad credit online approval and other such products at their discretion.

What are no credit check personal loans online?

When it comes to assessing your loan applications, one tool that lenders can use is a credit check. In short, a credit check involves lenders looking at your credit report to get an idea of your reliability and trustworthiness as a borrower. For most lenders, credit checks are a useful step to determine your suitability for credit.

However, these checks may not always be necessary. In fact, some lenders may be prepared to offer online personal loans without conducting credit check.

To do this, rather than looking at your credit report, they’ll focus their assessment on your budget (i.e. income and expense) to get an idea of the repayments you could potentially afford. If the loan repayments would fit comfortably with your budget then you can be approved for a loan without a credit check.

Having said this, no credit check loans may not be available. Many lenders will conduct a credit check in assessing your application. As a result, the availability of these loans may depend on the lender you are dealing with and their individual policies.

Get in contact with an individual lender to confirm their assessment policies.

Can I get small personal loans online?

Not every expense will be a significant one. More often than not, you’ll find yourself needing just a small loan to cover a minor, unexpected expense.

Luckily, that’s where small personal loans may be able to help. Typically, these loans are offered for amounts ranging from $300 to $2,000 with 12 month repayment terms making them a short-term commitment.

At Monzi, we work with a range of lenders who deal in small loans. Apply today and we may be able to pair you with an available lender who can help. Cover that pressing expense now and spread the cost of the coming months.

Online personal loans Australia: something larger

If a small cash loan won’t quite cover it, that’s okay too. As we’ve mentioned, at Monzi, we work with lenders who offer personal loans ranging from $300 to $10,000.

If you need to borrow more than $2,000 then you will be applying from either a medium or large personal loan. These loans can help when you encounter a more serious expense.

Medium and large loans do differ slightly in their features. As a result, it’s important to understand which one you will be applying for. See the table below for more details:

Loan typeFeatures
Medium loan
  • $2,100 to $4,600
  • Secured
  • 13 to 24 month repayment period
Large loan
  • $5,000 to $10,000
  • Secured loans
  • Repaid of 13 to 24 months

Monzi’s eligibility criteria

Before you apply with Monzi, there are four criteria that you must meet in order to be eligible. Check them out:

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

If you are confident that you are eligible then it’s time to apply. Read on and we’ll run through the steps that you’ll need to take.

How do I apply?

At Monzi, we’ve made sure that applying is easy. Our simple loan application process can be completed in minutes you can get on with your day sooner. All you need to do is:

  1. Use the loan slider to select your ideal loan amount and repayment term (where applicable).
  2. Enter the necessary personal details and financial information. Submit your application.
  3. From there, our automated system will try to match you with an available lender from our network who is willing to assess your application. Apply during business hours and we may have a match for you in just 60 minutes.
  4. We’ll contact you via text with an outcome. At that point, if our search is successful, your lender will reach out to begin the assessment process.

That’s all there is to it. Keen to apply? Just scroll up and begin your application today.

Personal loans online woman wearing blue hat smiling

What information do I need to provide?

In order to assess your personal loans online application, lenders will require a number of important personal and financial details. Providing this information when you apply is crucial to ensure that your application can be completed without delay so you can have an outcome ASAP.

As a result, before you begin your application, ensure you can provide the following:

  • Personal details (e.g. name, phone number, email address)
  • Online banking information
  • Your income
  • Current expenses
  • Any outstanding debts
  • Your preferred loan amount and reason for applying
  • Any other relevant information (e.g. Benefit payments)

Assessments and responsible lending

Under Australian lending law, lenders must assess all loan applications they receive. As a result, while you may see products such as online personal loans bad credit with instant approval offered, they’re not quite as they seem.

In short, all loans applications will involve some processing time. As a result, terms such as instant approval loans simply refer to situations in which you receive an outcome so quickly it feels like no time has passed.

In reality, lenders must take the time to assess your application to ensure that any loan that you are offered is suitable for your circumstances and purposes.

To do this, lenders must take three steps:

  1. The lender must make reasonable inquiries into your financial situation.
  2. They must take steps to verify this information.
  3. Based on the information they’ve gathered, the lender must make a final assessment as to whether the credit you’ve applied for is suitable.

For further details, ASIC has provided a more comprehensive breakdown.

Can I get bad credit secured personal loans online?

Yes! With bad credit secured personal loans, you must provide an asset as security. Usually, secured loans will be any loan over $2,000.

In order to secure the loan you may use your car, caravan, boat or any other asset that you own and that has value. In short, the list could go on.

The asset essentially guarantees the loan. In the event that you are unable to meet your repayments, then your lender may take steps to repossess the asset in order to recover their losses.

With an unsecured loan, there’s no requirement. As a result, these loans are typically only offered for amounts up to $2,000.

Personal loans online comparison

While you could just accept the first loan that you are offered, it often pays to shop around. Comparing loans to find more favourable terms may not only save you money, but can potentially allow you to get more out of your loan.

As a guide, aim to compare loans on the following points:

  • Interest rates and fees: these additional charges will be applied on top of your principal amount. Where possible, try to find the lowest rate and fewest fees.
  • Comparison rate: the comparison rate makes it simple to compare loans side-by-side. It combines your interest rate and fees to give you one single figure that represents your total loan cost.
  • Secured or unsecured?
  • The repayment terms on offer: do you have a range of terms to select from?
  • How much can you borrow: some lenders will only offer small loans while others may offer amounts ranging from $300 to $10,000.
  • Who is the lender: are they licenced and do they have a track-record of treating their borrowers well? Check their user reviews to make sure.

Head to our page on comparison rates for more information.

What is the best way to get small personal loans online approval?

While we cannot guarantee you being offered the best loan for your situation, you could consider applying with Monzi. In short, our lender-finder service can potentially make it simple and convenient to access a range of lenders online.

Just submit a simple Monzi application in minutes and you can potentially be paired with a lender in just 60 minutes. Best of all, our process is 100% online from start to finish. That means there’s no paperwork required.

How do I make repayments?

Making repayments has never been easier. Moreover, they can be tailored to suit your situation too.

When you apply, depending on your loan amount, you may have a choice of repayment terms ranging from 12 to 24 months. In addition to this, you’ll get to select either weekly, fortnightly or monthly. As a result, you can potentially select the combination that works best for you.

In order to make your repayments, simply establish a direct-debit from your online bank account. With this, your repayments will be automatic. The repayment amount will simply be taken from your account on the relevant dates. Just make sure you always have enough cash in your account to cover your repayment.

Why was my online personal loans instant approval application denied?

Unfortunately, Monzi is unable to say. After all, we are simply here to pair you with an available lender. Moreover, we do not conduct an assessment on your application. As a result, we will be unable to provide you with an answer.

In saying this, in most cases, your application will be denied if you fail to meet the lender’s qualifying criteria. For example, you may earn an insufficient income to cover the cost of your repayments comfortably.

For clarification, contact your lender directly. They may be able to inform you of exactly where you went from.

In any case, if your application is denied today, you are more than welcome to apply again with Monzi in the future. If you are able to work yourself into a more secure financial situation then your past application won’t necessarily be held against you.

Apply today

Monzi can make it easy and convenient to find lenders online. Does that sound like a service you need?

Scroll up and use Monzi’s loan slider at the top of the page to begin your application now.

Finally, get in contact with if you have any further questions.

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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.