Short Term Loans Up To $10,000? Monzi Is Here!

Short term loans from $300 to $10,000? Monzi can find you the lenders who may be able to help. With one, easy application, you could be put in touch with a lender within minutes. Apply today!

Short term loans and Monzi

Here at Monzi Loans, we understand that sometimes you need small loans for extra cash. After all, we’ve all been there at one point or another. That moment when you find yourself looking for loans to tie you over. It may even be tempting to apply with lenders offering loans with no credit check.

At Monzi Loans, we’re passionate about making it easier for Aussies to find lenders that can offer loans with a short repayment term. A short term solution to unexpected expenses, cash loans processed quick. Whether you need a few hundred for a few weeks or a few thousand for a few months, Monzi may be able to match you with a lender.

We will always try to help, even if you’re searching for Centrelink loans.

In short, our job is to pair you up with a lender who might be able to approve your cash loans application. Luckily, we have many lenders in Australia to put you in touch with. As a result, our in-depth knowledge of short term lending might help pair you with a lender offering loans to bad credit Aussies.

What are short term loans?

Put simply, these loans are a form of credit, usually provided by a lender other than a bank. Generally, these loans will have a repayment term of several months. In addition, the process of applying for a short term loan is often much quicker than traditional forms of credit. Your loan outcome may feel instant.

Monzi may be able to pair you with an available short term lender. Therefore, with one application, you could avoid all the hassle of finding lenders providing same day loans.

How do short term loans work?

Generally, consumers can apply directly with the lender online. From there, the lender assesses your application, taking into account your:

  • income
  • expenses
  • credit history
  • repayment history
  • etc.

Lenders offer you a loan contract if they can make you an offer. Your funds are transferred after you approve your contract.

Finally, a direct debit is set up from your account so your repayments are automatically deducted until the loan settles.

What are the benefits of short term loans?

Short term cash loans may be a helpful option in certain situations. Moreover, they can give you the cash boost you need to see you through a financial emergency.

You may wish to consider these loans because:

  • Fast. You can often apply for these loans 100% online. This means a fast, paperwork-free application. Moreover, lenders quickly gather all your information and may be able to provide an outcome within the hour.
  • Criteria. Short term loans usually have relatively open criteria when compared to traditional lenders. If you have poor credit history or are on a low income, you may still be considered for approval.
  • Capped fees. The Government heavily regulates the short term loans industry and places caps on fees and rates.

What are the drawbacks of short term loans?

As with any credit product, there are a number of risks associated with short term loans. Therefore, be aware of the following before applying:

  • Fees. While the Government caps fees and charges on cash loans, they may still be relatively high when compared to other lenders. This is to compensate for the added risk of applicants with poor credit, as well as the short repayment terms.
  • Term. Depending on the lender, your repayment terms may be as short as 16 days. While shorter terms do mean less paid in overall interes, your regular repayments may also be unmanageable. This could result in missed payments and eventually, poor credit.

Do Banks Do Short Term Loans?

Generally, the personal loans that banks could offer will differ from personal loans from online lenders, as the banking industry is heavily regulated. In particular, loans from banks are characterised by a more stringent application process and longer processing times. As a result, it may take days to be approved and to see your funds.

Monzi, however, might be able to pair you with a lender who may be able to offer you a loan. In addition, we may find you lenders that could transfer your loan within 24 hours of signing your loan contract. Put simply, Monzi makes accessing loans online easy.

How Can I Get A Small Loan Fast?

Instead of applying for payday loans immediately, why not consider a service like Monzi. Here’s how:

  • Enter in the amount you’re wanting to borrow and your ideal repayment terms.
  • We’ll try to find you an available lender.
  • If successful, your new lender will get in touch.
  • And that’s it! Easy, fast loans, without the stress of finding a lender.

Do Short Term Loans Affect Your Credit Score?

Just like any other form of credit, these loans affect your credit rating. If you borrow money and make repayments according to the loan terms, your credit rating will improve. In other words, consistently making your repayments on time could improve your credit score.

On the other hand, if you consistently miss your repayments, your credit score could be negatively affected. Therefore, the way a loan affects your credit score is really up to you.

What Are Short Term Payday Loans?

A payday loan in Australia is characterised by having a short repayment period, sometimes as few as four weeks. In addition, payday loans may come with no credit check.

Monzi may not be able to find you a payday loan. Instead, we try to match you with short term personal loan lenders. In short, these lenders may offer loans at larger amounts with repayment periods of several months to years.

Do Payday Loans Affect You Getting A Mortgage?

When you apply for a mortgage, banks will have a look at your credit history. As with any form of credit, payday loans could affect your credit score either negatively, depending on how you handle your repayments.

Monzi, however, may not always be able to find you payday loans. Instead, we are able to find you available lenders that offer quality, short term personal loans.

How Much Can I Borrow?

That’s the first question most Monzi customers ask. First things first, it doesn’t matter if you need short term business loans or personal loans. You have the option to borrow money from $300 to $10,000. We can find you lenders who may be willing to offer you the specific amount you’re after.

Where do I find the best short term loans in Australia

Looking for the best short term lenders in Australia? It’s a little tricky to provide an answer.

This is because consumers often vary in what they look for in a lender. In other words, one borrower may value an easy application process, while others may want a loan with flexible repayment terms.

You should, as a result, consider the following when looking for a loan online.

  • Amount on offer. Confirm the lender offers the loan amount you’re looking for.
  • Loan terms. Consider how long you will need to repay your loan. A longer repayment term may mean lower regular repayments. Shorter repayment terms may mean fewer fees.
  • Repayment flexibility. Some lenders may offer weekly, fortnightly or monthly repayments. Moreover, consider whether you want the option of paying your loan out early.
  • Fees. Government regulations limit what lenders can charge on certain loans. Despite this, lenders may still vary in terms of the fees they charge.

In addition, it may be a good idea to check the best short term loans reviews to check what other Aussie consumers have to say.

How Long Does It Take To Pay Short Term Loans Back?

On choosing one of the easy loans offered to you, you might wonder how long you will have to pay the amount back? Well, that depends on how much you have opted to borrow.

For example, you will need to pay back small loans ($300 – $2,000) within 12 months. While medium loans (i.e. from $2,001 – $4,600) will generally be paid back between 13 months and 24 months. For larger loans ($5,000 and up) it’s a little different and will vary depending on the lender.

Oh yes, and there’s also the option to make your repayments once a month, every fortnight, or even on a weekly basis. Therefore, it all depends on what works for you. Just scroll up and you’ll find our loans calculator, where you can design your proposed loan terms. Just remember that all costs displayed are just an example. The actual cost of your loan may differ depending on the lender you’re paired with.

Finally, keep in mind your repayment terms may vary depending on the lender you’re paired with.

Secured vs. Unsecured Loans

Monzi Loans can help you to find both secured and unsecured loans. Not sure what this means? Don’t fret.

So, a secured loan is a loan that requires you to provide security upon acceptance. You can usually use your car, motorbike, boat or caravan as security. Put simply, this is pretty much your way of promising the lender that you will pay the loan back within the stipulated time.

On the other hand, an unsecured loan is a personal loan that does not require security. Unsecured loans, however, are usually small loans. We can assist you in finding unsecured loans up to the
value of $2,000.

How It Works

When you’re stressed out and strapped for cash, the last thing you need is to face the daunting world of online lenders. After all, you don’t need to feel even more frustrated than your situation has already made you. Therefore, the application process for Monzi’s lender-finder service is simple and streamlined. In short, we act as the middleman between you and your next lender. We go the extra mile to ensure that our process is 100% user-friendly. It’s also ultra-convenient. Plus, it’s all done online – so feel free to stay in your PJs!

The first step is to fill in our quick online form. This shouldn’t take you more than a few minutes, tops. After all, you’ll only have to share your basic details with us at this stage. We will also ask for the reason for your loan. The best part? We don’t ask you for any paperwork to kick-start the process!

Click here for more information on applying.

Short Term Loans Australia

Simply complete your forms online, then send them off to us by clicking submit. As soon as we receive them we’ll get cracking to ensure a fast outcome for you. Next, our automated system will try to pair you with a lender from within our network.

If we successfully match you with a lender, they’ll be in touch. From there, they’ll conduct their own assessment of your application. If you’re approved, your new lender will send through a digital loan contract. Approve your contract if you’re happy with all the terms and conditions of your loan. Finally, once you approve your contract, your lender should begin transferring your funds.

Finally, it doesn’t matter where you are in Australia, Monzi will try to help. If you’re living in New South Wales and need quick cash, we can try to help. Looking for cash loans in Victoria? No worries, Monzi is here.

In short, you can count on Monzi no matter where you are. You can even apply if you’re lost in the wilderness of Tasmania; Monzi does it all.

Who Can Use Monzi

As mentioned, we welcome almost anyone to apply for a loan via our website. We are proud of the fact that we only have a few rules in place when it comes to limiting our applicants. So, before you apply to use Monzi’s lender-finder service, just make sure that you:

  1. Are 18 years or older.
  2. Have a valid contact number and email address.
  3. Are an Australian citizen or permanent resident.
  4. Have proof you have been receiving a regular income for at least three months.

If you are unemployed, make sure you are earning some sort of regular income.

Therefore, if you meet all these requirements, you can apply for our lender-finding service, and we’ll get to work.

What Are Short Term Loans Interest Rates Like?

Ahhh. The big question.

When taking out credit, you will need to pay a certain amount of interest and or fees on top of what you originally borrowed. Put simply, there’s no getting away from it.

As each lender may have different interest rates, we can’t give you an exact quote on what the interest rates will be on your loan. Therefore, you will need to get in contact with your lender directly for more information.

However, as you may know, ASIC caps what lenders can legally charge you. These limits depend on the size of the loan. We’ll explore these below:

Loans under $2,000

ASIC caps what lenders can charge and how they can structure loans valued at $2,000 or less. For example, lenders cannot offer you a repayment term that is 15 days or less.

In addition, lenders can only charge you the following:

  • one-off establishment fee of no more than 20% of the amount.
  • monthly account-keeping fee of nor more than 4% of the loan amount.
  • fees for defaults or missed payments (the lender cannot collect more than 200% of the principal amount)
  • expenses for recovering lost money.

Loans $2,001 to $5,000

ASIC regulates what your lender can charge you if you take out a loan valued between $2,001 to $5,000.

For example, the repayment terms must be between 16 days and 2 years. In addition, lenders can only charge you:

  • a one-off establishment fee of $400
  • maximum interest rate of 48% per annum, including all fees and charges.

You can apply for these loans through Monzi’s lender-finder service. Also known as medium personal loans, these loans are valued between $2,001 and $4,600. Moreover, these loans are generally secured, meaning you may need to attach an asset as security, like a car or motorbike.

Loans over $5,000

Australian Consumer Law prohibits the total amount of fees and charges on these loans to exceed 48% per annum. These regulations apply to credit contracts with terms of more than 24 months.

Do You Conduct Credit Checks?

Are you on the hunt for cash loans in Australia with no credit checks? Well, at Monzi Loans, we won’t access your credit report upon receiving your application.

However, we cannot guarantee that our partnered lenders won’t. As a result, each lender will have a unique vetting process that they will follow. Before granting quick loans to any Australian, some lenders conduct credit checks as part of their assessment process. However, we work with lenders who understand you’re so much more than just a credit score.

In other words, even if your lender does conduct a credit assessment on your application, you may still be considered for approval.

What Are Short Term Loans Used For?

We just require the reason for your loan, to pass onto your possible new lender.

We have helped many Australians get the cash they need for a wide variety of uses. Some clients have used the money to pay:


Nobody likes getting fined – but, it happens. Unfortunately, it is almost always an expense that you won’t have planned for. So, if money is tight, this can be a problem budget-wise. Luckily, a small loan may help to ease the strain.

Car Services

You have to take proper care of your car if you expect it to serve you well. Plus, regular car services will help to reduce the chance of your car breaking down. Unexpectedly, and at the least opportune moment possible. Cars can be costly though, so it’s little wonder so many Australians struggle to afford them.

Car Repairs

Servicing the car is one thing. Repairing it when it does give up the ghost can be another expense entirely. So, whether it needs patching up because it’s old or it has surface damage in the form of dents and scratches, repairing a vehicle can be a costly affair. Additionally, some repairs can wait until a time when money is more abundant. But, if you need to send your car to a mechanic to get it back on the road fast, a personal loan may be an option to consider.


Utility bills, bond loans, phone bills, unplanned bills – they seem to be endless, don’t they? Whatever the reason or service, it’s always a struggle to keep up with bills. A bit of extra cash can help to ease the stress.

Holiday Costs

In desperate need of a holiday? Aren’t we all? Don’t worry. If you’re considering short term loans to take a well-deserved vacation, we won’t judge you for it. When you need a break, you need a break! We have helped countless Aussies enjoy the holiday they’ve been dreaming of, and we’d love to help you to do the same with a travel loan.

Medical Fees

We all know how exorbitant doctors’ fees and hospital-related costs can be. Perhaps you don’t have medical cover. Or your cover has run out, and the bills wind up on your doorstep. An unexpected medical expense can take a massive toll on the bank account. Sickness and stress don’t go well together. So, you can apply for a lender that can offer loans for medical expenses with Monzi.

Schools Fees

A great education is priceless. Well, for the receiver of said education anyway! Their parents know that it definitely doesn’t come free. If those school fees are starting to tug harder on the purse strings, you’re not alone. Many parents have paid education-related fees with a manageable short term loan.


To turn your house into a home, you’ll need furniture. A cozy bed, an inviting lounge suite, a classy dining room table and chairs. Let’s not forget that inviting patio furniture that makes spending time in the garden even more enjoyable. Unfortunately, these pieces of furniture can cost a fortune. Therefore, a convenient personal loan may help to ease the struggle.


We tend to think of giving gifts as a luxury – unless it’s your anniversary or your partner’s birthday, of course! Therefore, in these economic times, many people struggle to find the cash to do this. That’s why so many of our clients opt to go down the loan route.

Get started by applying today!

So, if you’re in need of a short term loan, you can apply with Monzi Loans for a lender that might offer a cash loan when you need it most.

At the end of the day, when you need cash, and you need it fast, Monzi is here to help you find it. We’re in the business of finding you a lender quickly, no fuss, just complete our application in minutes and we’ll get to work finding you a lender. Well, go ahead and give it a try. All you need is a touch of Monzi!

short term loans used by smiling man with glasses

Can I apply if I’m on a low income?

Absolutely! Monzi does not discriminate when it comes to applicants. If you earn some sort of income, you’re free to apply. However, taking out new credit may not be your best option, especially if you are on a low income or unemployed. Therefore, please consider these alternatives to short term loans before making a decision.

No Interest Loans Scheme

The No Interest Loans Scheme (NILS) is a community focussed initiative by Goodshepherd Microfinance. Put simply, NILS aims to provide low income Aussies with safe access to credit. Specifically, you can apply for small loans to cover essential items and services, and then make interest and fee-free repayments over the coming months.

You can use NILS to pay for things like:

  • Fridges, washing machines and other essential household items.
  • Essential medical procedures and dental services.
  • Textbooks and computers for education.
  • Car repairs or registration.

NILS offers loans of up to $1,500 in over 600 locations nationwide. You can check your eligibility on their website.

Short term loan alternative – StepUP

StepUP is another initiative of Goodshepherd Microfinance. Moreover, Australian individuals and families can apply for loans from $800 to $3,000. With a low interest rate of 5.99% per annum, no fees and flexible repayment terms, StepUP may be a great option for Aussies looking to improve their quality of life.

The StepUP process looks like this:

  1. Enquire. Apply with StepUP online or by calling 13 64 57.
  2. Documentation. Your StepUP worker will provide you with paperwork which you need to complete.
  3. Interview. Bring your completed paperwork to a meeting with a StepUP representative.
  4. Assessment. Your application is assessed. A credit check is part of the assessment.
  5. Outcome. Lenders offer you a loan contract to look over and sign if they approve your application.
  6. Repayments. You make repayments either weekly, fortnightly or monthly.

Centrelink Advance Payment

If you receive Centrelink benefits, you may be able to receive an advance of your payment. Specifically, Centrelink gives you part of your future payment as a lump sum, which is then repaid out of your upcoming benefit payments.

Consider the following:

  • Amount. Depends on what Centrelink payment you receive. Also determined by the amount you can afford to repay in 6 months.
  • Term. Generally repaid within 6 months.
  • Interest & fees. No interest is charged, nor are any fees.
  • Purpose. You’re free to use your advance for general living expenses as well as one-off purchases.< /li>

To be eligible for an advance, make sure you can say yes to the following:

  • Receives a Centrelink payment, like:
    • Age Pension
    • Carer Payment
    • Disability Support Pension
    • Newstart
    • Youth Allowance for job seekers
    • Plus more.
  • Currently residing in Australia when requesting the advance.
  • No money owed to the Australian Government.

Is Monzi Right For You?

Searching the internet for lenders may quickly feel confusing. To make things a little easier, if you have been searching any of the following terms, consider applying with Monzi. Monzi may be able to find you an available lender willing to help with:

Short Term LoansShort Term Loans Australia
Best short term loans AustraliaLoans bad credit
Most popular short term loansCash loans Australia no credit checks
No credit check loansCash loans short term
Short term personal loansOnline loans no credit check no paperwork
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Why do you ask for my online banking details?

You’ll notice that when you apply, we ask you to provide your online banking details. While this may seem initially odd, it’s completely safe and an essential part of the application process.

If you applied for a loan in the past, you would need to show that you get paid regularly and you can afford your repayments. To do this, you would need to print off your bank statements and bring them into the lender’s branch or fax them in.

Technology has obviously, and thankfully, progressed since then. These days, there is software that allows consumers to digitally access their bank statements by entering in their banking details. These systems, however, are completely secure and are over a 128-bit encryption.

Finally, if you apply with Monzi, you can rest easy knowing your information and details are protected by both Comodo and McAfee, two major players in the internet-security industry.

What happens if I’m approved?

Lenders first assess your application and send you a contract if they can make an offer. It is important you read through your contract carefully to confirm you are happy with everything. After all, a contract for instant personal loan for a poor credit consumer may look different to a normal personal loan.

Therefore, confirm you are happy with the following.

  • Amount offered. Lenders may not always be able to offer the exact amount you applied for on our site, but they’ll do their best.
  • The amount of time you have to repay your loan.
  • What are the fees and charges associated with the loan? Will you be charged for making early repayments?

If you are unhappy with something, get in contact with your lender directly before signing the contract.

Finally, you are under no obligation to approve your contract. You are free to walk away if you find the offer unsuitable.

I can’t afford repayments anymore

If you lose your job or suffer from illness, you may find yourself unable to afford your contractual repayments. Therefore, you will need to get in contact with your lender directly to apply for a hardship adjustment.

  1. Get in contact with your lender’s hardship department.
  2. Provide evidence of hardship. This can include:
    • medical certificate
    • payslips
    • bank statements
    • separation certificate.
  3. Lender assesses your hardship application.
  4. Lenders may offer a restructured loan upon approval.

You may be offered a break from your repayments, and adjusted repayment amount, or both. Keep in mind, however, lenders may not approve your hardship application if they feel it to be illegitimate.

Let’s Stay In Touch

Want more Monzi content? Great! Stay in touch on Facebook, Twitter, Pinterest and Google. Additionally, to get the latest tips and tricks to hit personal finance follow our blog, coming soon.

If you want to learn a bit more about money management, enlist the help of the experts at MoneySmart.

Find more Monzi over 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


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.