Quick Money Loans For When You Need Fast Finance Today!

Quick money loans can be a great way to get cash into your account ASAP. If you have an unexpected expense pop up, these loans may be a helpful option. Monzi’s lender-finder might be a simple, stress-free way to match with a quick money lender!

Two cyclists riding towards quick money loans

What are quick money loans?

These loans are really quite simple! They are, in short, personal loans that are processed as quickly as possible. As a result, if you are approved, you may receive your loan the same day you apply.

How can I get an instant loan online?

You can apply for an instant loan online via Monzi’s lender-finder service. In short, we’ll aim to pair you with a lender that might be able to offer you a loan.

It is also important to note, instant loans do not actually happen instantly. After all, lenders will need to conduct an assessment of your application. Then, if you’re approved, access to your loan will be determined by inter-bank transfer times.

However, we aim to work with lenders that can make things happen quickly. Therefore, your loan may be processed so quickly it may feel almost instant.

Can I get quick money loans from the bank?

Some banks may be able to process your funds quickly after approval. However, this will depend on the individual bank and their policies.

Traditional lenders, like banks, may have more stringent approval criteria than online lenders. In other words, it may be more difficult to be approved for a loan from a bank. This is especially true if a consumer has poor credit or receives Centrelink.

Approval is, ultimately, up to the bank themselves. Therefore, you will need to get in contact with the bank directly to get more information.

Quick money loans – payday or personal?

Personal loans and payday loans differ in a few key areas. Therefore, consumers should make themselves aware of these differences before applying for cash loans online.

LoanAmount availableRepayment termsBad credit accepted?Centrelink accepted?
Payday loanUp to $2,0004 weeks
Personal loan$300 to $10,000Several months to years

The above table is just a guide. Individual lenders may differ from what is presented above.

Monzi’s lender-finder may be able to pair you with a lender offering personal loans. On the other hand, Monzi does not work with payday lenders.

Why does my credit matter?

Your credit score or rating helps lenders decide whether or not they should lend you money.

Your credit report contains information on your history as a borrower. Credit reporting agencies collect this information from credit providers, courts as well as other entities. In particular, your credit report includes information like how many credit cards you hold, as well as your repayment history.

Your credit score, on the other hand, is a numerical representation of the information found in your credit report. In short, it sums up all the information in your credit report. Credit reporting agencies will give you a number between zero and 1,000 or zero and 1,200. The higher your credit score, the more creditworthy you are seen to be.

Your credit matters because it can directly affect how much a lender is willing to offer you. It may also affect the terms of your loan and your interest rate.

In essence, a good credit score shows you are a responsible borrower. Lenders may be more willing to lend you money, as you are likely to make all your repayments in full and on time.

Can I get a personal loan with a credit score of 550?

As we are the lender-finder, Monzi cannot say whether or not you will be accepted by a certain lender.

A credit score of 550 is, however, towards the lower-end of credit scores. A credit score of 550 may suggest that it is likely an adverse event will be recorded on your credit report in the next 12 months.

An adverse event can mean a range of bad credit listings. A default, bankruptcy or court judgement can all be included as adverse events.

In short, if you are looking for quick money loans with a credit score of 550, you will need to get in contact with a lender directly. Otherwise, you could use Monzi’s lender-finder. After all, we work with a wide network of lenders that might be able to look past your credit score.

How can I get a personal loan instantly?

If you’re in the market for quick money loans, chances are you’re putting a lot of emphasis on quick. Well, Monzi’s lender-finder service may be a great tool for speeding up the process.

While we cannot promise anything happening instantly, we’ll do our best to work as quickly as possible. After all, we’ve designed our entire service with ease and convenience in mind.

Want to know how it all works? Read on!

Step one

Consumers can get started by scrolling up to the loan slider at the top of the page. Next, you’ll need to select the loan amount you’re thinking of borrowing as well as your ideal repayment terms. Once you have done this, the loan slider will give you a rough idea of what your weekly, fortnightly and monthly repayments would look like.

Please note that both the repayment terms and costs presented in the loan slider are just a guide. The actual repayment terms and cost of your loan may vary depending on the lender you’re paired with.

Once you’re happy with everything you see, click Apply Now.

Step two

Consumers will now be taken to the next step, the submission form. Here, we’ll just ask you to fill in the essential information that we need. This should only take a few minutes to complete.

Once you have submitted everything, our automated system will get to work. In short, our automated system scans through hundreds of different loan products in an attempt to match you with a potential lender. Finally, we’ll let you know of the outcome via text and email.

Step three

If we successfully pair you with a lender, they’ll be in touch! If we can’t match you with a lender, you simply didn’t meet the criteria this time. You can, however, apply again in the future.

From here, our work is done. You’ll now deal with your new lender directly.

Your new lender will conduct an assessment of your application. Finally, if you’re approved, they’ll send through your quick money loans digital contract. It is important you read through your contract carefully, and only approve if you are happy with everything.

Money loans quick – but how quick?

Quick money loans can be processed super fast. After you approve your contract, your lender will transfer your loan. You may even be able to access your loan the same day you approve your contract.

Access to funds is, however, can be affected by a few variables. Being aware of these variables may be a great way to increase your chances of accessing quick money loans the same day as applying.

  • Make sure you supply all relevant information when you first apply. Lenders may not be able to process your loan unless they have all the necessary information. Therefore, try and make sure your personal, banking and employment details are all provided when you apply for the first time.
  • Apply during normal business hours. Lenders will have their own regular business hours where they can process loans. As a result, you should try and apply during these hours.
  • Be mindful of banking rounds. Credit providers will have certain points throughout a business day where they can transfer funds. In addition, lenders cannot transfer funds over the weekend.

Keep in mind, being aware of the above variables does not guarantee you will be able to access your loan the same day you apply. Access to funds, after all, is dependent on inter-bank transfer times.

Where is the best place to get a quick loan?

Because every consumer’s situation is different, it is almost impossible to provide an objective best place to get a quick loan. After all, a lender may take only a few minutes to assess one application, but hours to assess another. However, there are certain lenders that may be unlikely to process your loan quickly.

Traditional lenders, like banks, may take days to process and approve your loan application. Additionally, you may have to spend time in a queue or listening to annoying hold music.

Online lenders, on the other hand, often have a 100% online application that could be completed in minutes. Moreover, using a lender-finder service like Monzi may speed things up even more.

Why do you ask for my banking details?

The short answer? To make your life easier.

After all, Monzi works with lenders who value convenience for their clients. Therefore, when you apply you’ll be asked to supply your internet banking details.

This is done so lenders can access a read-only copy of the last 90 days of your bank statements. As a result, borrowers don’t have to rummage around their house trying to find bank statements. In short, by doing this, applying for quick money loans is completely paperwork free!

In addition, lenders can get a better feel for you and your relationship with money. By accessing your bank statements, lenders are able to see your income and expenses, as well as how you’ve been handling any other repayments you may have.

Finally, if lenders can see your regular income will easily cover your normal expenses as well as your repayments, you may be considered for approval, even if you have poor credit or receive Centrelink!

Can you find quick money loans for unemployed?

In short, yes!

As we said before, we work with a wide network of lenders that may be more understanding of your situation than traditional lenders. In other words, you may be accepted even if you are unemployed.

You will, however, need to be earning some sort of income. Generally, this can be in the form of Centrelink payments as well as income-earning assets (like owning a rental property).

As a result, you will need to show your income will easily cover your regular expenses as well as the loan repayments. After all, you will need to show you will be able to repay your loan.

Does Monzi conduct credit checks?

As the lender-finder, Monzi will not conduct a credit check on your application. In fact, we won’t assess your application at all. Instead, we just gather your information and aim to pass it on to a potential lender.

If you’re successfully paired with a lender, they may conduct a credit check on your application. A credit check may indeed be part of their assessment process. However, this is up to the individual lender themselves. As a result, Monzi cannot guarantee whether or not the lender you’re paired with will conduct a credit check.

If you’re looking for quick money loans no credit check, you may be concerned that your credit is too poor to be accepted. Well, Monzi works with lenders that may be able to focus on more than just your credit.

Do I qualify for quick money loans with bad credit?

Yes!

The lender you’re paired with may consider you for approval, even if you have poor credit. After all, everybody has made mistakes in the past. However, if you make financial mistakes, they can hang around a little longer.

Can I get a $1,000 loan with bad credit?

It is absolutely possible to be approved for a $1,000 loan if you have bad credit. Keep in mind, however, approval is always at the discretion of the lender themselves.

$1,000 is a small, unsecured personal loan. Generally, these loans will have a repayment term of 12 months. Monzi is, additionally, able to find lenders that can offer two other categories of personal loans:

Loan typeAmount (AUD)Repayment 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

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

What are secured quick money loans?

A secured loan is a loan protected by one of the borrower’s assets. This asset then acts as security against the loan. Therefore, if a borrower defaults on their loan, the lender is able to repossess the asset. Then, the lender is able to sell the asset to recoup some of the losses incurred on the defaulted loan.

Attaching collateral against the loan reduces the level of risk for the lender. This is because borrowers have a real incentive to pay their loan back on time. As a result, lenders may be willing to offer a larger loan. In some situations, they may even reduce the interest rate.

Monzi works with a network of lenders that offer any loan over $2,000 as secured. More specifically, the medium personal loans ($2,100 to $4,600) and the large personal loans ($5,000 to $10,000) will require security.

What asset can I use as security?

Usually, lenders will be able to accept a car, motorbike, caravan or boat as security against the loan.

Keep in mind, however, you will need to be the registered owner of the vehicle in question. In addition, make sure you have all relevant details for your vehicle handy when you apply.

I can’t afford repayments on my quick money loan

Sometime’s life doesn’t always go to plan. Monzi works with lenders that understand this. As a result, if you feel like you will be unable to afford one of your repayments, it is important you get in contact with your lender. Moreover, get in touch with your lender at least 24 hours before your payment is due.

Generally, if you are upfront with your lender, you should be able to work something out.

Financial hardship

If you, however, have something drastic change in your life, you may need to file for financial hardship. Financial hardship is for when your circumstances change significantly. In particular, this could mean you losing your job, or being badly injured so you’re no longer able to work. Therefore, your ability to afford repayments changes.

If you are experiencing this, get in contact with your lender as soon as possible. Lenders will have a hardship department that deals with this type of thing. Therefore, you will need to lodge an application for financial hardship.

In addition, you will need to provide supporting documentation. This could include proof of termination of employment or documentation from a doctor. Finally, your lender will assess your claim of hardship. If you’re approved, your loan may be restructured.

Quick money loans online through Monzi

It seems everything these days is available online and on-demand. Finding finance online is no different.

But, just like scrolling through Netflix to find something to watch, this can often feel like a tedious process. This is where Monzi comes in.

We make your life easier – plain and simple. How? Well, our intelligent automated system can scan through hundreds of different loan products and, hopefully, match you with a lender.

Therefore, instead of staring at Google search results trying to make sense of the hundreds of lender options, simply turn to Monzi.

Changing the way Aussies access credit

More and more everyday Australians are accessing credit from non-traditional lenders, and it’s not hard to see why.

After all, many Australians are fed up with the traditional lending institutions, like the big banks. In addition, after the Royal Commission into Banking, public trust of the big banks seems to be lower than ever!

There are, however, a few other key reasons why instant loans online are becoming increasingly popular:

  • Convenience. All you need to apply for loans online is a computer or an internet-capable device. You may even be able to apply for credit online completely paperwork free!
  • Speedy outcome. Some lenders may be able to give you an outcome on your application the same day you apply (some even as quickly as 60 minutes). Therefore, whether you’re approved or declined, you can get on with your day pronto!
  • Fast turnaround. Many lenders are able to start transferring your money once you approve your contract. Depending on your bank, you may even receive your loan the same day.
  • Flexible eligibility criteria Bad credit? Receive Centrelink? Unemployed? No stress. There may be lenders willing to consider your application.
  • Options. Borrowers can choose between a small cash injection of a few hundred dollars, or something larger! Therefore, there may be money loans quick for any situation.

Past Monzi success

It’s no secret that we’re one of the best lender-finders out there. After all, we’ve already helped thousands of everyday Aussies match up with a lender that has been able to help. Just look at all the past Monzi customers that have managed to be successfully approved for the loan they were looking for.

LoanAmount (AUD)LocationApproved
Money loans quick$1,150Ballarat, VIC
Quick money loans online$2,100Logan, QLD
Money quick loans$3,800Adelaide, SA
Quick money loans bad credit$4,000Newcastle, NSW

The above table is for demonstrative purposes only. The figures and terms presented do not, in any way, reflect the type of loan you may be approved for.

Quick money loans Australia

We think using Monzi’s lender-finder service is a great way to match with a lender. However, before you get started looking for instant loans online, consider whether this product is for you.

Loan productQuick money loans
Amount available$300 to $10,000
Ideal for…Borrowers looking for fast access to credit.
Bad credit accepted?Yes
Centrelink accepted?Yes

What can I spend my loan on?

The great thing about personal loans is they can be used to cover almost any personal expense. Moreover, to give you a few examples, below are just a few of the ways past Monzi customers have used their loan.

  • Rental bond: Secure your new place sooner!
  • Travel loan: Extra cash to help hit the road.
  • Holiday loan: Help cover that well-deserved time off.
  • Car registration: Get your new set of wheels road legal.
  • Car repairs: Help get you back behind the wheel.
  • Bills: Keep your aircon or heating flowing.
  • Whitegoods: No washing machine? No problem.
  • Education: Looking to improve your GPA? A new laptop could help.

Quick and easy money loans

Monzi could be your ticket to getting quick and easy finance online.

Are you ready to get started? Scroll up to the loan slider and begin.

Looking for more information on personal loans? Consult ASIC’s Moneysmart website.

Factor In

Costs

Two credit cards
Two credit cards

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

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

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

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

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

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

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.