Quick Loans Up To $10,000 Straight Into Your Pocket

Quick loans assessed the same day you apply? You may even have access to your cash sooner than you think. Interested? Monzi’s lender-finder service may be able to match you with a quick money lender!

What are quick cash loans?

Quick loans can be applied for in minutes, processed and transferred straight into your account. Depending on the lender, consumers may even have access to their loan the same day they apply!

Being able to spend your cash the same day you applied for it? That’s quick!

Quick cash loans offered by Monzi’s network of lenders may range from $300 to a massive $10,000! Therefore, we can cater to any budget.

The repayment terms on your loan will vary depending on the lender, as well as the loan amount. Generally, you and your lender will agree on a repayment schedule and, from there, a direct debit will be set up from your account.

How do quick loans work?

If you’re matched with a quick cash lender, they’ll conduct an assessment of your application as quickly as they can. Generally, if you apply during business hours, you should receive an outcome within 60 minutes. Next, if you’re approved, they’ll send through a digital loan contract.

If you approve your contract, your lender will begin transferring your funds. As mentioned above, there are certain factors that may affect how quickly you’ll be able to see your cash. After you receive fast personal loans, you can use them to cover almost any personal expense.

Finally, a direct debit will be set up from your bank account. Then, your repayments will automatically be deducted on an agreed upon payment schedule.

Once you have fully repaid your loan, the direct debits will automatically cease.

What are the different quick loans in Australia?

If you’re looking for emergency cash loans ASAP, you may want to consider a short term loan. After all, loans from traditional lenders like banks and credit unions may take days to be processed. Additionally, if you have poor credit or receive Centrelink, it may prove to be difficult to get approval from a traditional lender.

There are, however, a few main types of short term loans Australia. These lenders may be able to transfer your loan the same day you apply.

Monzi is here to break these lenders down. Therefore, consumers can get an idea of the options available to them, and make a decision accordingly.

Payday lenders

Payday loans are unsecured short-term loans, usually available at $2,000 and under. In particular, these loans are intended to be used as a solution to a temporary cash shortfall. These loans are then repaid out of the borrower’s future paychecks (hence the name).

Certain payday lenders may offer no credit check loans. As a result, they may be an option for people with bad credit.

Payday loans, however, may have high fees and charges. In addition, the short repayment terms (sometimes as short as 4 weeks) may result in high and unmanageable regular repayments. Finally, if borrowers are unable to repay their payday loan on time, they may be charged additional fees!

Luckily, payday loans are not your only option.

Unsecured quick personal loans

Personal loans differ from no credit check payday loans in a few key areas. In particular, quick personal loans often have repayment terms of at least several months. As a result, the regular repayments may be much more manageable compared to a payday loan.

Unsecured personal loans are generally valued at $2,000 and under. As they are unsecured, borrowers will not have to attach any asset as collateral against the loan.

Finally, lenders are likely to perform a credit check when assessing your application.

Secured personal loans

Secured quick personal loans for bad credit can range anywhere from $2,100 to $10,000! Additionally, these loans will have repayment term ranging from several months to years!

These loans, however, are secured loans. As a result, borrowers will need to attach one of their assets as collateral against the loan. Usually, lenders are able to accept your car, motorbike, caravan or boat as security.

What are the best quick loans?

While we are the lender-finder experts, it is almost impossible to say which quick money loans are the best. After all, everybody’s situation and objectives are different!

As a result, the best loan product for one consumer, may not be the best for another.

Therefore, before you browse for loans online, you will need to weigh up what is important to you as a borrower. You may want to consider the following.

  • Do I own an asset I can use as security?
  • Do I want a larger loan or smaller loan?
  • How long do I want my repayment terms to be?
  • Do I want to be able to top-up my loan?

Moreover, as a general rule, a loan product is considered suitable for you if:

  • it fulfils your needs and objectives; and
  • you can reasonably afford the regular repayments.

Are there any risks involved with quick loans?

Yes, with any credit product there is always a degree of risk involved. Moreover, it is important you understand these risks before making a decision.

The risks involved with quick loans may include:

  • Unreputable lenders. Certain lenders may not be as reputable as others. Therefore, confirm the lender you are dealing with has a credit licence from ASIC, and is only charging the maximum legal amount.
  • Expensive repayments. Are you able to reasonably afford your contractual repayments? Will you be able to repay your loan within the loan term?
  • New credit applications. Each time you apply for a new loan, the application appears on your credit report. Having multiple new credit applications in a short space of time can negatively impact your credit rating. This may make it difficult to access credit in the future.
  • Rates and fees. ASIC caps establishment and monthly fees (more on this later), so avoid any lender quoting prices beyond the legal caps. Moreover, make sure you understand what the lender charges for late or missed payments.
  • Repercussions. Consumers are required to fulfil the obligations on any contract they sign. If you fail to repay your loan or negotiate a resolution with your lender, they may initiate legal action against you.

How much can leaders legally charge for quick loans?

The maximum cap on rates and fees depend on the size of the loan. You can access a full copy of the limits via ASIC’s website. However, we will delve into each of these below.

Loans of $2,000 or less

There are a number of restrictions posed on loans valued at $2,000 or less, also known as small loans. For example, lenders cannot offer loan terms of 15 days or less.

When it comes to the fees and charges, these small loans are capped. Specifically, your credit provider can legally only charge you the following:

  • one establishment fee, capped at 20% of the principal
  • monthly account keeping fees of no more than 4% of the loan value
  • any government fees or charges
  • penalty fees for late or missed payments (lenders cannot collect more than 200% of the total loan amount)
  • any enforcement expenses incurred by the lender when chasing up your debt.

Loans from $2,001 to $4,600

ASIC regulates what lenders can charge for loans valued between $2,001 and $5,000. More specifically, your lender can legally only charge you:

  • a one-off fee of $400
  • a maximum interest rate of 48%, taking into account all other fees and charges.

In addition, these loans have repayment terms ranging anywhere from 16 days to 2 years.

$5,000 loans and over

Australian Consumer Law prevents lenders from charging more than 48%, including the total amount of fees and charges. This applies to loans valued over this amount, with terms more than 2 years.

Who is Monzi?

Keen to find out what all the hype is about? Well, it’s us – Monzi Loans.

In short, we’re a lender-finder here to make your life easier – plain and simple. In particular, we’ve made it our mission to connect everyday Australian consumers with quality online lenders.

We realised Australia needed a service like ours. After all, the sheer number of available online lenders can be confusing and at times, overwhelming. It can be difficult for consumers to know where to turn.

Monzi has done the searching, so you don’t have to. Over time, we’ve built up a strong network of trusted lenders. Therefore, if you’re matched with a lender through our service, you can be sure they’re a reputable and trusted credit provider.

Easy access to quality lenders? Monzi may be able to point you in the right direction.

Why choose Monzi?

Why come to Monzi for your quick loans needs? The answer is pretty simple – we make life it simple to apply for easy loans.

You’d be joining thousands of Aussies who love the service Monzi provides. Don’t just take our word for it. Here’s what keeps Monzi customers coming back again and again:

Monzi works quicklyOur automated system may be able to start scanning through loan products within minutes of lodging your application.
Super speedy applicationMonzi only asks for the essential information. Therefore, you consumers can complete our no-nonsense application in minutes.
Intelligent automated systemWe scan through hundreds of different loan products to try and find a lender tailor made for your situation.
Cash in your pocket, pronto!We work with lenders that aim to get your loan to you ASAP!
Fresh take on financeWe’re a young company – run by Aussies, for Aussies.

What can Monzi find me?

As we’ve mentioned above, Monzi aims to match you with quality lenders. In particular, we have a network of lenders that offer both secured and unsecured personal loans ranging from $300 to $10,000.

LoanAmount (AUD $)Repayment Terms
Small unsecured personal loan$300 to $2,00012 months
Medium secured personal loan$2,100 to $4,60013 to 24 months
Large secured personal loan$5,000 to $10,00013 to 24 months

The actual repayment terms of your loan may vary depending on the lender you’re matched with.

Keep in mind, Monzi may not be able to pair you with payday lenders. Put simply, we do our best to match you with potential lenders offering personal loans.

How do I get quick loans online?

A lot of quick cash lenders will be available online. In other words, you can apply, have your application assessed, and your funds transferred without ever leaving your house!

  1. Select your ideal loan amount and repayment terms in loan slider.
  2. Click Apply Now.
  3. Fill in all relevant information in the submission form.
  4. Our smart system will scan through different loan products.
  5. If we successfully pair you with a lender, we’ll let you know.
  6. The lender will get in touch with you directly.

How can I increase my chances of getting a quick outcome?

In order to receive a quick outcome, be sure to apply during a lender’s normal business hours. After all, lenders generally have a team that physically assesses your application.

Obviously, applying while the assessment team is at work puts you in the best place to get a rapid answer. Apply outside of normal hours and you may only get an outcome the next business day.

Moreover, there are a few things you can do to get a rapid outcome:

  • Apply during business hours.
  • Provide all relevant information when you first apply. Otherwise, lenders may need to pause their assessment to chase up additional documentation.
  • Keep your phone close-by so you can quickly respond to any requests from the lender.

How long does it take to see the $$$?

Monzi works with lenders that have fast loans at the front of their mind. However, there are some variables that can affect when you’ll be able to access your cash. Therefore, if you’re looking for quick loans same day, understanding these variables may improve your chances.

  • Correct information. Aim to provide all relevant information the first time you apply. Otherwise, lenders may have to postpone the processing of your loan until they have everything they need.
  • Banking rounds. Be aware most lenders have rounds of banking throughout the day where they can transfer your funds. Therefore, if you miss the final round of banking, your loan may not be transferred until the next business day.
  • Weekends. Lenders may not be able to process applications or transfer funds over the weekend.
  • Inter-bank transfers. Certain banks handle transfers like these differently. As a result, your banking circumstances may affect how quickly you can see your loan.

Quick loans and flower crown worn by smiling woman against yellow background

What is a comparison rate?

You may notice comparison rates as you browse for credit online. Comparison rates are simply a tool that allows consumers to quickly work out the true cost of a loan and compare it against other loan products.

Comparison rates reduce down to a percentage figure a loan product’s interest rate as well as most of the fees and charges. Therefore, you can easily compare loan products from different lenders.

How is a comparison rate calculated?

Comparison rates are calculated by taking in the interest rate plus most of the fees and charges of a loan and reducing them down to a single percentage figure. It is important to note, however, that the comparison rate may not factor in a particular charge if it may not apply to all borrowers. Late payment fees are one example.

A very basic example of how comparison rates are calculated is shown below.

Interest rateFees & chargesComparison rate
Loan 19%0.5%9.5%
Loan 29.25%0.1%9.35%

As you can see, loan 2 will be cheaper than loan 1, despite loan 1 having a lower interest rate.

The above table is a simple demonstration. The figures presented do not, in any way, reflect the rates you may be charged on your actual loan.

Are there guaranteed approval quick loans?

There may be certain lenders advertising a guarantee on loans no matter what. Consumers should, however, be very cautious of any lender advertising guaranteed approval.

Why? After all, guaranteed approval could help so many people in tough situations? Why is it a bad thing?

Put simply, lenders are required by law to assess whether or not a loan product is suitable for the consumer. In particular, an unsuitable loan product would include if the consumer is unable to afford the repayments, or can only do so under serious financial pressure.

Therefore, if a lender approves your application for quick cash loans no matter what, and you are then unable to afford the repayments, they are going against ASIC’s responsible lending obligations.

This is why any lender Monzi pairs you with will conduct an assessment of your application.

How to handle dodgy lenders

Are you concerned you’re dealing with a less-than-reputable lender? If so, there are some steps you can take to protect yourself.

  1. Cease all contact with the lender. Do not provide them with any additional information or move further in the application process.
  2. Call your bank to report your suspicions.
  3. Consult ASIC’s list of companies you should not deal with.
  4. Check whether the credit provider is licensed by ASIC.
  5. Report the lender to the correct authority. You can find a list of agencies on the Moneysmart website.

Using Monzi’s lender-finder

Our lender-finding service may be a great way to get in contact with a quality lender. Depending on when you apply, our automated system might be able to start scanning through lenders within minutes of you submitting your application.

The best part? Using Monzi couldn’t be any more simple or straightforward. In short, we’ve designed our entire platform to be as streamlined as possible.


Before we can try to match you with a potential lender, you first need to confirm you meet our eligibility criteria. Don’t stress too much though, they’re really simple. To be eligible for Monzi’s lender-finder service, you must:

  • be at least 18 years of age
  • hold an Australian Citizenship or Permanent Residency
  • have a personal mobile contact number and email address
  • have a personal bank account with online banking activated.

Applicants must have at least 90 days (3 months) worth of recent banking history in their account in order to be assessed.

Finally, remember that qualifying for our service does not guarantee you approval. Instead, approval rests with the individual lenders in our network.

Submit an application

The first step is to submit a loan application. To do this, consumers just need to scroll up to the loan slider. Next, select the amount you’re thinking of borrowing, as well as your ideal repayment terms.

You’ll be given a rough guide to what your weekly, fortnightly and monthly repayments may look like. This, however, is just a guide. The actual cost of your loan may vary depending on the lender you’re paired with.

Finally, once you’ve clicked Apply Now, you’ll be taken to our submission form. We only ask for the essentials, so this may only take a few minutes to complete.

Put your feet up

Once you submit your application, we’ll be able to take it from here. Our automated system will begin scanning through hundreds of different loan products. In particular, we’ll aim to match you with a lender whose assessment criteria suits your application.

If we successfully pair you with a lender, we’ll let you know. Next, your new lender should be in contact with you directly.

If we can’t find you a lender today, we’ll also let you know as soon as possible. Therefore, you can get on with the rest of your day.

Meet your new lender

Your new lender should now be in touch. The next step is for your lender to assess your application. If you’re approved, you’ll be sent through a digital loan contract to read over and sign.

It is, however, very important you read through your loan contract closely. In particular, pay attention to the terms of your loan, as well as the payable fees and charges associated with your loan.

If you understand and are happy with everything in your contract, go ahead and approve your contract digitally. On the other hand, if you don’t understand something in your contract, get in contact with your lender. Generally, they should be able to walk you through all aspects of your loan.

Finally, remember you are under no obligation to approve your loan contract – financial or otherwise. If you are unhappy with anything in your contract, you are free to simply decline the offer and walk away.

How do I read my contract?

Lenders send through a digital loan agreement if they can make you an offer. It is essential you read through your contract carefully before making a decision. After all, you may find yourself in hot water if you approve a contract you later decide you’re unhappy with.

When reading through your agreement, pay particular attention to the following:

  • Amount. Lenders are not always able to offer the exact amount you apply for on our site. Therefore, confirm you are happy with the amount on offer before making a decision.
  • Interest. Interest is charged on top of the amount you borrow, expressed as a percentage of the principal. Your interest rate will have a major impact on the total cost of your loan.
  • Fees. Lenders charge upfront and ongoing fees, as well as penalty fees for late or missed payments. Confirm you understand what all of these are before approving your contract.
  • Term. The term is the length of time your lender gives you to repay your loan in total. If you select a shorter term, your regular repayments will be higher but you will pay less in overall interest. The reverse is true for longer repayment terms.

Quick small loans explained

If you just need a little extra cash to play with, you could consider applying for a small personal loan.

Quick small loans are valued at $2,000 and under. Generally, these unsecured small loans have a repayment period of 12 months. However, repayment terms may vary depending on the lender you’re paired with.

Secured quick loans explained

If you need something a little larger, consider applying for secured loans. Monzi works with lenders that offer both medium ($2,100 to $4,600) and large ($5,000 to $10,000) secured personal loans.

These bigger loans can do much more than cover a temporary cash shortfall. You could, instead, use your medium or large personal loan to help fund your small business, cover holiday expenses, or even use it to repair your car.

Why secured loans?

If a borrower simply cannot repay their loan, the lender is able to repossess and sell their asset to recoup some of their losses. As a result, attaching an asset as security reduces the risk posed to the lender.

Because of the reduced risk, lenders are often able to offer larger amounts of credit, as well as reduce the interest rate.

What can I use as security?

Generally, lenders are able to accept your car, motorbike, caravan or boat as security.

Keep in mind, you must be the registered owner of the vehicle you wish to use as security. If you are not the registered owner of a vehicle, you may be unable to apply for a secured loan.

What happens if I cannot repay my secured loan?

If you cannot afford the repayments on your secured loan, your asset may be repossessed by the lender. However, this is often the last resort for the lender.

Additionally, borrowers have certain rights when it comes to repossessed goods. For example, the repossession process can only start if:

  • the borrower is behind on their repayments; and
  • the lender has provided the borrower with a default notice, giving 30 days to pay the overdue amount; and
  • overdue amount is not paid, nor is a resolution negotiated or a request to postpone repossession lodged within the 30 period.

Again, it is important to stress lenders only take the repossession route if all other avenues have been exhausted.

If consumers are having difficulties affording their contractual repayments, they need to get in contact with their lender as soon as possible. They may be able to reach an agreement with their lender.

Will Monzi find loans with no credit check?

As the lender-finder, Monzi will not conduct a credit check on your application. Instead, we will simply aim to match your application with an appropriate lender.

Monzi cannot guarantee whether or not your lender with will perform a credit assessment. After all, it is completely at the discretion of the lender themselves, and their own assessment procedures.

People who search terms like quick cash loans no credit check or quick loans no credit check, may feel their poor credit will get between them and approval. This is, however, simply not the case.

With Monzi in particular, we aim to work with lenders that are understanding of less-than-perfect credit.

Can I get approval for quick loans while on benefits?

Again, as we are the lender-finder, we cannot speak to the individual approval criteria of the lenders themselves. What we can say, however, is receiving Centrelink benefits may not automatically disqualify you from approval.

Lenders will examine your income and expenses when assessing your application. Lenders may still consider you for approval if you receive regular Centrelink benefits (and have been for the last three months at least).

This is because some lenders may be able to regard regular Centrelink benefits as income.

And if I’m unemployed? Can Monzi help?

You can absolutely use Monzi’s lender-finder service if you are unemployed.

However, you will need to show you are receiving a regular and consistent income. Often, this can be in the form of regular Centrelink payments. However, this can also include owning income-earning assets, like a rental property.

In essence, borrowers will just need to show their regular income will comfortably cover both their usual expenses as well as their contractual repayments. If lenders are able to see this, they may consider your application for approval.

However, it is important to note Monzi cannot guarantee approval on your application. Approval is always at the discretion of the lender. Therefore, even if you think you meet the above criteria, it is up to your lender to approve or decline your application.

Can I get same day loans?

We understand if you’re looking for fast cash loans, you actually want them to be processed fast!

Indeed, it is possible you could receive same day cash loans after you approve your loan contract. However, if you approve your contract outside of your lender’s normal business hours, your lender may not be able to transfer your funds until the next business day.

1 hour cash loans very quick funds

Monzi works with certain lenders that may be able to transfer your funds within minutes of you approving your contract.

Keep in mind, however, that 1 hour access to cash is dependent on:

  • the lender you’re paired with;
  • the time of day you approve your contract; and
  • your own bank’s transfer policies.

Is it possible to borrow money with bad credit?


While traditional lending institutions like banks and credit unions may turn their nose up at less-than-perfect credit scores, Monzi works with lenders that do things a little differently.

Consumers will be asked to supply their internet banking credentials during the application. This is so lenders can get a better understanding of you and your relationship with money. In particular, lenders will look at your regular income, expenses, and how you’ve been handling whatever other repayments you may have.

Therefore, if lenders are able to see you’ve been earning a regular income, and have been responsible with your expenses and debts, you may be able to borrow money with bad credit.

Quick loans Australia

Being 100% online, we may be able to pair consumers all across Australia with the lender they need. Regardless of whether you live in Alice Springs, the Gold Coast, Perth or anywhere in-between, we can try help!

Consumers could use their personal loan to cover anything from car registration, car repairs, a rental bond, travel costs or even your next vacation!

I am struggling with debt – what can I do?

If you are struggling to keep up with your regular repayments and feel like you are drowning in debt, there are a few things you can do.

First, consumers get in contact with their lender to let them know you are struggling. You may be able to qualify for financial hardship. Here’s how you can apply for hardship:

  • Email or call your lender and let them know you’re struggling.
  • Provide evidence of hardship, like:
    • bank statements showing loss of income
    • payslips
    • separation certificate from employer
    • medical certificate
    • etc.
  • Lender assesses your claim and provides an outcome.

In addition, you can get in contact with the National Debt Helpline by visiting their website or by calling 1800 007 007 from anywhere in Australia between 9:30 am to 4:30 pm Monday to Friday.

The golden rule is to not suffer in silence. There are a number of online resources out there designed to help Aussies struggling with debt.

For more information, head to MoneySmart’s article on managing debt. You will find a bunch of great resources.

Quick easy loans

Happy with everything you’ve read through? Fantastic, that’s great news! We think our lender-finder service is pretty great, too. Why not scroll up and apply?

Alternatively, if you have any more questions about anything you’ve just read, consult our FAQ page. Otherwise, you can get in contact with our customer service team at hello@monzi.com.au.

There’s plenty more Monzi on Facebook, Instagram, Twitter and Pinterest.

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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.