The basics
- You are 18 or older and live in Australia.
- You have regular income paid into an Australian bank account in your name.
- You have an Australian mobile number and an email address.
- You have an Australian driver licence, an Australian or foreign passport, or an Australian proof of age card.
- You have online banking for the account your pay goes into, so we can safely read your recent transactions.
- You know roughly what you spend on living costs and other repayments.
We still need to check your whole money situation, the loan you want and the results of our checks. We may ask you questions, or say no.
The loan must fit too
| What we look at | Why |
|---|---|
| Amount | It must be between $2,050 and $4,600 in cash, and no more than you need. |
| Length | It must be 3 or 6 months, with repayments we can check you can make. |
| What it is for | It must be a personal or household cost, not a business, gambling or an everyday bill that keeps coming back. |
| Your income | Some kinds of income need extra evidence, like a Centrelink income statement. |
| Your other debts | Other repayments, missed payments, hardship arrangements and recent credit can affect whether the loan suits you. |
| Your bank data | It needs to be complete and clear enough to check your situation. |
When a loan may not help
Money is short every week
A loan is unlikely to fix a gap between your income and your essential costs that keeps coming back.
You are already behind
Talk to the providers you already owe about hardship before adding another repayment.
Essentials would suffer
Do not go ahead if repayments would make it hard to pay for rent, food, bills, transport or medical care.
The cost is not clear
Stop if you do not understand the total you would repay, the dates, the fees, the interest or what happens if you miss a payment.
If you are not eligible
A no does not always mean something is wrong, or that every lender will say the same. Try not to apply to lots of lenders quickly, because credit checks can affect future applications. A free financial counsellor or a cheaper option may help more.