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Personal Loan Pal
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$1500
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Fortnightly
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The maximum you will be charged is a 20% Establishment Fee and a 4% Monthly Fee. Under the current legislation lenders do not charge an annual monthly interest rate for our Small Amount Credit Contracts. You may know this as Annual Percentage Rate or APR(%). Click here to see a worked example.

The Annual Percentage Rate for Secured Medium Loans is 48%. Comparison Rate is 67.41% p.a. This comparison rate is based on a Medium Amount Credit Contract for an amount of $2,500 over 2 years and a $400 establishment fee. Fees and charges are payable. Click here to see a worked example.

The Interest Rate for Secured Large Amount Loans is 21.24%. 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.

Got a low credit score, but need some funds? Cash loans for bad credit could be for you!

Cash loans for bad credit are finance options for those with a low credit score. These cash loans for bad credit can be for amounts up to $5,000. They feature different costs and can be secured or unsecured depending on the loan amount. The maximum repayment period is 24 months, also subject to the loan amount.

How many people have found themselves in a position where a bit of extra cash would have been a real help? Probably quite a few. But where do you get this cash from on short notice? Most would probably say the banks, as they’ve been the big players on the lending scene in the past. However, this might not be an option if you have bad credit.

Those with low credit scores tend to find it more difficult to obtain finance from a bank. This is because the banks generally use your credit score as an easy way to determine your ability to repay a loan. The lower your score, the less likely they are to approve your application. You might be out of luck on the bank loan front.

Don’t panic! All hope is not lost. In fact, there are a number of online lenders that are willing to be more lenient than the banks when it comes to your credit score. They can offer loans for a wide range of uses! Introducing one that is of particular interest to those with low credit scores: cash loans for bad credit!

cash loans for bad credit

What are cash loans for bad credit?

Well, the name pretty much says it all. Cash loans for bad credit are just a type of personal loan that can be accessed by those with less than perfect credit. In this case, cash loans for bad credit are for amounts between $200 and $5,000. Depending on the loan amount, you can repay cash loans for bad credit over a maximum period of 24 months.

Cash loans for bad credit are the online lending industry’s answer the banks dislike for bad credit. Online lenders are willing to be a bit more lenient, as they don’t believe that your credit score tells the full story of your financial situation. After all, your credit score can be affected by negative information on your credit report from up to five years ago. If you’ve turned your finances around since then, your credit score won’t necessarily be the best indicator of your ability to afford a loan.

Like the sound of cash loans for bad credit? Well, then it’s time to search for lenders! Although, you’ll soon notice that there are a lot of online lenders around. Some might offer tempting but ultimately impossible promises like 24 7 instant cash loans for bad credit. What’s the best way to find a lender, without having to spend hours comparing every online loan provider? Well, we might just know someone who can help with that…

Introducing Personal Loan Pal

Personal Loan Pal is an easy-to-access, free-to-use, lender-finding service. Ever wished that there was someone there to help you get through the drudge work? Well, when it comes to finding lenders, Personal Loan Pal can do just that.

If you’re sick of spending hours filling out application forms, our process will be like a breath of fresh air. All we need from you is a completed and submitted application form. If you fulfil your end of the bargain, we can get to doing what we do best: looking for lenders. We’ll look at a host of online lenders in search of one for you. If we find one, we can refer you to them fast!

How do I apply with Personal Loan Pal?

Unlike what you might expect from a traditional lender, our lender-finding service doesn’t involve a long and overly complex application process. You don’t need to print out paperwork, book any appointments or wait in lines. In fact, you don’t even need to get out of bed if you don’t want to! Our lender-finding service is 100% online, so as long as you can apply from the comfort of your own home on your laptop. For those of you who are busy bees, our website is also mobile-friendly, which means you can also apply on the go!

Before you can start filling out an application form, you’ll just have to make sure that you’re eligible. We try to provide our lender-finding service to a wide range of Australians, but we still have some minimum requirements. Nothing too extreme, just the bare essentials.

You must:

  • Be an Australian citizen or permanent resident
  • Be 18 years of age or above
  • Have received a regular income into a personal bank account for at least 90 days prior
  • Have a direct contact number and email address

Once you’re sure that you’re eligible, you can then apply. It shouldn’t take long at all, so you can get back to your day without too much interruption. That’s where your work ends and ours begins! We’ll then deliver an outcome as fast as possible. If we find a lender for you, we’ll refer you to them and they’ll be in touch. While you continue your loan journey with them, we’ll get back to being a Personal Loan Pal for other customers!

Why should I choose Personal Loan Pal?

If you’re in need of fast loans for bad credit, we could be the service you need to find lenders! Why should you apply with Personal Loan Pal? Well, here are just a few reasons why you should use our lender-finding service.

  1. You don’t have to jump through hoops. We don’t have any unreasonable criteria to apply with our lender-finding service. That’s because we want to find lenders for as many Australians as we can!
  2. Fast application process. Filling out applications can be a bit of a hard slog sometimes, but not with us! In fact, you can fill out an application in just a few minutes. If you qualify then apply now, and you could be done in no time!
  3. We can save you time. Applying for a loan can be daunting – even more so if you have to comb through the numerous lenders that you can find. Personal Loan Pal does that work for you. Just submit one application with us and we’ll do our best to find a lender for you!
  4. Quick outcomes. You’ve got things to do, and we understand that. For this reason, we do our best to deliver fast outcomes to our customers. With any luck, you could be in contact with a lender offering cash loans for bad credit before you know it!
  5. Great customer service. Just because we’re 100% online, doesn’t mean we sacrifice the personal touch. If you’ve got a query about your application or our service in general, we’d love to hear from you! You can either contact us right here on our website, or send an email to hello@personalloanpal.com.au. We’ll do our best to help you out!

Sound good? We think so. If you agree, scroll up and click apply now to get started!

Can I get no credit check cash loans for bad credit?

It is possible for us to find lenders offering loans that don’t require credit checks, but we can’t make any guarantees. Regardless, your credit score won’t be the only thing that these online lenders consider.

As a lender-finding service, we don’t conduct credit checks. Our lender partners have varying policies regarding their assessments, which includes their position on credit checks. Even if we find a lender for you that does credit checks, they tend to focus more on your current financial situation instead. This often can give them a better idea of your ability to make repayments. In any case, a bad credit score alone is rarely enough for one of our partner lenders to reject your application.

So if you’re worried about getting turned away just for having a bad credit score, don’t be. Apply with Personal Loan Pal and we’ll see if we can find a lender that can help you!

How much do cash loans for bad credit cost?

We are a lender-finding service, so our duty is to try and find a lender for you. Each lender is different, so the exact costs of the cash loans for bad credit on offer will depend on the provider.

While we can’t guarantee exact loan costs, we can give you an idea of the typical types of costs involved. There are a few different types of loans, which correspond with increasing loan amounts. These are small cash loans for bad credit, medium secured cash loans for bad credit and large secured cash loans for bad credit. Here’s how each of these types of loans works:

Small Cash Loans for Bad Credit

  • Loan Amount: Minimum – $200; Maximum – $2,000.
  • Repayment Period Terms: Up to 12 Months.
  • Costs: Establishment Fee up to 20% of Loan Amount (Charged after signing the loan contract), plus Monthly Fee up to 4%.

Medium Secured Cash Loans for Bad Credit

  • Loan Amount: Minimum – $2,001; Maximum – $4,600.
  • Repayment Period Terms: Minimum – 13 Months; Maximum – 24 Months.
  • Costs: $400 Establishment Fee; Annual Percentage Rate (APR) is 48%; Comparison Rate is 67.41% P.A.

Large Cash Loans for Bad Credit

  • Loan Amount: Minimum – $5,000; Maximum – $5,000.
  • Repayment Period Terms: Minimum – 13 Months; Maximum – 24 Months.
  • Costs: Annual Percentage Rate (APR) is 21.24%; Maximum Comparison Rate is 48% P.A.

If you’d like to know more about personal loan rates, you can check out the MoneySmart personal loan calculator.

Is it possible to get cash loans for Centrelink customers with bad credit?

It is! And the easiest way to find lenders offering cash loans for Centrelink customers with bad credit is by applying with Personal Loan Pal.

While receiving Centrelink payments, you could be even more prone to instances where you need cash fast. There are some methods for upfront payment available to Centrelink recipients, such as the Centrelink Cash Advance. If you’ve received a Centrelink cash advance in the past, or you’re just seeking an alternate form of finance such as loans for pensioners, we may still be able to help you out! If you’re eligible, apply with our lender-finding service and we’ll see if we can find a lender offering cash loans for Centrelink customers with bad credit!

Cash loans for bad credit could be just around the corner!

If you’re worried about being rejected by a bank because of a black mark on your credit history, there are other options. Cash loans for bad credit could be the helping hand that you need. Hopefully, we’ve done enough to convince you that Personal Loan Pal’s awesome lender-finding service is the best way to find loan providers for people with bad credit.

If you’re not totally sold, don’t click away just yet! Our website has heaps of information for those who have more questions about Personal Loan Pal, or loans in general. You can find out more about us and how it works. There’s also a breakdown of the types of loan fees on the costs page, and our FAQ section is perfect for those with further queries.

At the end of the day, applying with Personal Loan Pal just makes finding lenders so much easier. You can kick back while we do the work for you. So if you’re after cash loans for bad credit, why not give us a go? Apply now!

Example of how small personal loans work

Loan amount

$200 minimum
$2,000 maximum

Costs

Most small personal loan providers charge up to 20% as an establishment fee upfront. You’ll then pay a 4% monthly fee.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %.

In APR terms, the maximum annual percentage rate on our loans between $300 and $2000 is 199.43%.

Terms

12
months minumum
12
months maximum

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.

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

Example of how medium secured personal loans work

Loan amount

$2,100 minimum
$4,600 maximum

Costs

Annual Percentage Rate (APR) is 48% Comparison rate is 67.41% p.a.

Terms

13
months minumum
24
months maximum

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.

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