Short Term Loans Australia $300 To $10,000 – Apply Fast With Monzi

Short term loans Australia – convenient credit for everyday Australians. Loans from $300 to $10,000 available. Repayment terms potentially ranging from 12 to 24 months.

What is a short term personal loan?

A short term personal loan is a type of easy loan with a shorter repayment period than traditional lenders. Often, consumers have several months to repay these loans.

Generally, it is easy to apply with these lenders online. Moreover, short term lenders may be more willing to offer bad credit loans than traditional lenders.

Why do people get short term loans Australia?

A short term loan usually helps people cover an urgent or unexpected expense, and then spread the repayments over a few months. Some people consider getting these loans for emergencies, while others may use their money for the trip of a lifetime. Depending on your situation, getting a cash loan may be a convenient option.

Put simply, you can use your short term loan to cover almost any legal expense. To give you a better idea, we’ve included some of the more common reasons in the table below.

Short term loanAmount in AUDReasonLocation
Easy short term loans$900Car repairsPort Macquarie, NSW
Same day short term loans bad credit$2,200TravelTannum Sands, QLD
Quick short term loans$5,000Kitchen renovationSwan Hill, VIC

Unfortunately, we cannot guarantee you will be offered a loan from a lender within our network. After all, approval is at the discretion of individual lenders.

Where do I find the best short term loans Australia?

It is impossible to provide an answer to the best short term lender in Australia. After all, how does one define best? In other words, some consumers may want fast loan approval, while others may prefer being able to apply for cash on their mobile.

To answer this question for yourself, consider the following.

  • How long does it take to apply with the lender and receive an outcome?
  • What loan amounts are available?
  • What rates and fees are offered?
  • Do I need to put up any collateral?

Moreover, it may be worth doing a Google search for best short term loans reviews Australia. Consumer reviews are often a handy way of gauging the user experience.

Will I be charged for missing a payment?

Yes! You will be charged fees for any missed or late payments.

Keep in mind, the loan contract will detail any fees and charges associated with your loan. Therefore, find out what happens if you miss a repayment before signing the contract.

For example, a small loans contract should include the following:

  • Interest and other charges
  • Any late or penalty fees
  • Repayment terms.

Can I get short term loans Australia over the weekend?

You may not be able to secure a loan with a weekend payout. This is because most lenders are unable to process loans over the weekend.

Ultimately, your access to cash is at the mercy of inter-bank transfer speeds.

In general, banks do not process transfers over the weekend or public holidays. Moreover, most lenders will have rounds of baking throughout the day where they transfer funds. As a result, aim to approve your contract well before the final round of banking for the week.

How does Monzi work?

We don’t provide loans ourselves. Instead, apply with us and we’ll try to match you with a potential credit provider.

With Monzi, you can forget spending half your day applying with different lenders only to be declined. You can, alternatively, apply once with Monzi and the lenders come to you!

While we can’t guarantee approval, we can guarantee we’ll do our best to pair you with a possible lender offering quick cash loans!

What short term loans does Monzi find?

Technically, we do not offer loans. Instead, we aim to find you a lender that might be able to help.

More specifically, our network of lenders is potentially able to offer three categories of personal loan.

Firstly, small loans may be offered from $300 to $2,000. These loans are unsecured and may be repaid over just 12 months. As a result, you may borrow the cash you need today and have it repaid before you know it.

Next, you can apply for medium loans from $2,100 to $4,600. These loans exceed $2,000, meaning you must guarantee your loan with an asset. As a guide, you may use your car, boat or caravan. Moreover, you may have the choice of repayment terms ranging from 13 to 24 months.

Finally, if you’re dealing with a major cash emergency, then you could apply for a large personal loan from $5,000 to $10,000. As with a medium loan, these are secured credit products that you may repay over terms from 13 to 24 months.

Payday vs personal loans

If you’re hunting short term loans, you’ll probably find plenty of lenders offering payday loans or alternatives. While they are one potential short term loan option, they’re not the only one. Personal loans are available too.

A payday loan in Australia typically covers amounts up to $2,000. Lenders are rapid in assessing claims and provide you with an outcome in no time. In addition to this, repayment periods are short. Loans may be repaid in just a couple of weeks.

On the other hand, easy approval personal loans tend to be more flexible. You can borrow up to $10,000 and repay it over 12 to 24 months. With this, repayments tend to be more manageable and better suited to your budget.

At Monzi, we aim to pair you with an available lender offering personal loans. As a result, we may be unable to match you with a lender offering no credit check payday loans. If you are specifically seeking payday loans, you may need to apply with lenders directly.

Monzi’s short term loans Australia criteria

At Monzi, we’re keen to help all Aussies find a great lender. Before you get started though, we do have four criteria that you must meet in order to be eligible. See below:

  • Be at least 18 years of age
  • An Australian citizen or permanent resident
  • Have a current phone number and email address
  • Earned a regular income, for the three months preceding your application, deposited into an online bank account.

Apply with Monzi

Monzi’s application process is streamlined and simple. Just follow these steps to apply for a so easy loan today.

  1. Apply: select your loan amount and preferred repayment period. Then, fill in the required personal details and hit submit.
  2. Wait: Once we have your application we begin trying to pair you with an available lender. Our automated system works fast. In fact, if you apply during regular hours you may be paired with a lender in just one hour.
  3. Contact: we’ll let you know how our search goes. If an available lender is found, they’ll contact you to assess your application.

Short term loans Australia on phone with woman in grey shirt laughing in front of yellow background

What about short term loans with no credit check?

We simply cannot guarantee whether or not you will be offered a no credit check loan. After all, there are so many lenders in our network that all vary. Monzi cannot speak on behalf of any individual company.

Keep in mind, many people search for these loans because they feel they have very poor credit. So poor, in fact, they often feel there is no other way to secure approval. This may not always be true.

Monzi works with plenty of lenders that have their feet placed firmly in the real world. In other words, they understand that poor credit is not the be-all and end-all. Moreover, these lenders will consider your current financial situation, including:

  • your normal income
  • what you usually spend each week
  • your normal spending and saving habits
  • your repayment history.

If you are earning a steady income, some lenders may consider offering bad credit personal loans today.

Cash on benefits – short term loans Australia for Centrelink

If you are unemployed or need to apply for loans on Centrelink, always consider your options before applying for short term credit. After all, short term loans may be expensive and might not solve your financial issues.

For example, get in contact with your provider if you are considering a loan to help you cover utility bills. Often, phone, gas, water and electricity providers will have hardship departments in place. If you qualify for hardship, you may be offered a payment plan.

In addition, there may be community initiatives able to offer micro loans to people on benefits.

If, however, you do decide to apply for a loan, there is good news; receiving Centrelink does not automatically disbar you from approval.

You may be able to apply for instant decision unsecured loans up to $2,000 and secured loans up to $10,000 with Monzi.

When will I see my cash?

Processing times vary between all lenders and consumers. There is, as a result, no guarantee of when you will see your money.

Keep in mind, lenders only transfer funds after you approve your contract. Moreover, if you approve your contract outside of normal business hours, you may only see your cash the next business day.

Generally, however, consumers may receive same day loans or at the latest, the next business day.

What is short term lending?

A short term loan is quick and easy finance to cover a temporary cash shortfall. Short term loans then allow consumers to repay their loan over a convenient period of time.

These loans are, in general, easier to qualify for than traditional forms of finance. As such, they may not be suited for a long-term purchase like a house. They may, however, be a helpful option for those Australians needsmall loans for bad credit.

Contact us

Have any questions? Don’t hesitate to reach out.

Email us at and our customer service team will be in touch to answer any questions you have. Email during business hours for the quickest response!

If you have a question that relates to your loan specifically, contact your lender directly. Monzi doesn’t have the authority to speak on behalf of other organisations. Moreover, we are not made aware of your loan details. As a result, we will not be able to answer any such questions.

What to consider before applying

Nobody understands your personal situation better than yourself. As a result, it is important you consider a few things before applying.

  • Financial situation. Do you have a rough idea of what the repayments will cost? If so, will you be able to comfortably afford your normal expenses plus repayments?
  • Cost. Do you understand all the fees and rates associated with your contract?
  • Information. While applying is easy, you will still need to provide certain pieces of information. Remember to include things like relevant bank statements or information on the asset you’re using as security.
  • Reason. It doesn’t take long to spend your cash loan. Then, you’re just left with repayments to make. Therefore, make sure your reason is important and you won’t regret taking out the loan.
  • Loan features. Does your loan come with a fixed or variable rate? Moreover, are there any penalties for paying your loan out early?

How much can I expect to pay?

Unfortunately, we cannot answer this question for you. This is different because lenders may vary in what they charge for short term loans.

It is, as a result, important you read through your contract carefully before agreeing to anything. In particular, pay close attention to the:

  • rates
  • fees (establishment, ongoing etc.)
  • penalty fees
  • repayment terms.

Please note, you are under no obligation to approve the contract offered to you. Moreover, get in contact with your lender directly if you don’t understand something in your contract. In short, the lender will be able to walk you through any and all questions you may have.

How do I read short term loans Australia contracts?

As we mentioned above, it is imperative you read through your contract carefully. After all, agreeing to a credit contract you’re unhappy with is never a good idea.

Consider the following when you read through your contract:

  • Amount offered. Lenders may not be able to offer the exact amount you apply for on our site. This is because all credit providers have guidelines they must follow when offering contracts. Therefore, confirm you’re happy with the amount offered.
  • Repayment terms. Make sure you understand how long you have to repay your loan, as well as the repayment frequency. In addition, make sure you know what happens if your direct debit falls on a public holiday.
  • Rates and fees. Understand how establishment and monthly fees are calculated. Obviously, this will have a significant impact on the total cost of your loan.
  • Penalty fees. Nobody wants to miss payments, but it does happen. Therefore, make sure you know what financial penalty you incur for missing a payment.

Get in contact with your lender directly if you do not understand anything listed above.

The benefits of using Monzi

Monzi can make finding a lender simple and convenient. Not only that, there are a host of other benefits that come with enlisting Monzi’s service.

  • 100% online: apply anywhere, any time, whenever is best for you. The Monzi website is live 24/7 and all you need to access it is an internet connection. However, applications received outside of business hours may encounter delays.
  • Quick and easy: we’ve refined our application so we only need the key details. You can apply in minutes. Best of all, Monzi and our lenders work fast to supply you with quick outcomes.
  • Trusted lenders: our lender network is made up of some of the best lenders Australia has to offer. They’re all licenced and subscribe to responsible lending practices.
  • Repayments that work for you: our lenders may be able to offer a range of repayment options. You’ll have the option to make repayments weekly, fortnightly or months while repayment periods may range from 12 to 24 months.

Find a full copy of the responsible lending practises here.

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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.