Even if you draw up a budget and plan for every financial expenditure, you may face unexpected hurdles that leave you stranded.
Payday loans are the go-to solution when you’re in an emergency and need quick cash. You can even qualify for these loans with bad credit.
Here are the top payday loan matching services in Australia:
1. Gday Loans
Borrowers can get loans from leading lenders on this platform with just a single application.
Gday Loans connect borrowers with top lenders in Australia who offer various loans like payday loans with 5.99% to 35.99% APR.
The online application process is straightforward and takes less than three minutes to get a response. Don’t hesitate to visit gdayloans.com.au to apply for payday loans with favourable terms whenever you need urgent cash.
Pros
- Quick online application and approval process
- Same day payout
- Loan amounts from $300 to $10,000
Cons
- You must reside in Australia to qualify for a loan.
2. Viva Payday Loans
This online platform connects borrowers with loan providers who offer payday loans from $100-$5,000. The loan terms range from 16 days to 12 months. Centrelink recipients and bad credit borrowers can also apply for loans on this platform.
There’s’ a 20% establishment fee and 4% monthly charge for loan amounts below $2,000. For $2,001 and above, the establishment fee is 400 and 20% to 199.43% APR.
The platform has a simple application process—you only have to key in your details and the amount you require, then submit online the form and wait for feedback.
If your application is approved, Viva Payday Loans will connect you with top lenders willing to offer you the payday loan. The lender will send you the loan contract, which you’ll have to sign prior to receiving the funds in your bank account. Ensure you go through the terms and conditions thoroughly before signing.
Pros
- Borrowers with bad credit are eligible
- No collateral
- Quick application process
Cons
- High-interest rates and fees.
3. Jacaranda Finance
The Jacaranda platform connects you with short-term loan providers who provide loans with flexible minimum requirements. The online application process is simple and fast, and you get a response within the hour.
You can get loan amounts of up to $10,000 with loan terms of more than 24 months. Centrelink recipients and bad credit borrowers can also qualify for loans on this platform.
Pros
- Quick application and approval process
- Bad credit borrowers and Centrelink recipients can qualify for loans
- Loan amounts between $300 to $10,000
Cons
- Establishment fees range from $0 to $1000 based on the borrower’s credit.
- There’s a $35 direct debit dishonour charge if the platform unsuccessfully attempts to deduct payment from a borrower’s account
4. Sunshine Loans
Sunshine Loans is a loan matching platform that connects borrowers with loan providers offering loans between $150 to $2,000. The loan periods range from nine to twenty-four weeks. There’s also an option of making early repayments without incurring extra charges.
Just like other payday lenders, the platform imposes a 20% establishment fee and a 4% monthly charge. Centrelink recipients can apply for loans on this platform if the benefits are less than half of their income. Bad credit borrowers can also qualify for loans.
Pros
- Same day payout
- Quick application process
- Flexible repayment plan according to the borrower’s income frequency
Cons
- You must provide Centrelink payment information and employment details.
- Very High-interest rates and fees.
5. Fair Go Finance
This loan matching online platform links borrowers with lenders who provide loans ranging from $300 to $2,000 with one month to 2 years loan terms. Borrowers can repay the loans early without incurring any penalties.
Bad credit borrowers are eligible for loans on this platform, although they won’t get a 4% establishment fee waiver. There’s a 4% monthly charge for loan amounts of $18 to $400.
Pros
- Loan amounts range from $300 to $2,000
- The platform schedules the repayment plan depending on the client’s income frequency.
- No collateral
Cons
- High-interest rates and fees
Bottom Line
Payday loans come in handy during emergencies. It’s easy to apply for these loans as the entire process is online. The above are Australia’s leading loan matching platforms that will connect you with lenders who offer instant payday loans.
