Four questions to ask first
Is it a one-off cost I really need?
A loan is less likely to help if the same gap will be back next week or next month.
Is there a cheaper option?
Ask the provider for a payment plan, check Centrelink advances or look at a No Interest Loan before borrowing.
What is the total, not just each payment?
Compare the amount you borrow with every fee, the interest and every repayment over the whole loan.
What would I give up to repay it?
If rent, food, bills, medical needs or other debts would suffer, do not go ahead.
Options to look at before borrowing
Ask for a payment plan
Energy, phone, water, medical and other providers may offer more time, instalments, rebates or hardship programs.
Centrelink advance payment
If you get Centrelink, you may be able to get part of a future payment early, with no interest or fees.
Check with Services AustraliaNo Interest Loans
If you are eligible, you can borrow for essentials with no interest and no fees through community providers.
Read the Moneysmart guideFree financial counselling
Independent counsellors can help with bills, debts, hardship requests and a budget that works. It is free and private.
Call 1800 007 007Compare your options
Our loan is one option, and often not the cheapest. Here is how the usual choices compare.
| Option | Usual cost | Worth looking at when |
|---|---|---|
| Payment plan with the provider | Often free | The bill is from an energy, phone, medical, vet or other provider that offers instalments or hardship help. |
| Centrelink advance payment | No interest or fees | You get an eligible Centrelink payment. The advance comes out of later payments. |
| No Interest Loan (NILs) | No interest or fees | You are on a lower income and need essential goods or services, like a fridge, a car repair or medical costs. |
| Bank or credit union personal loan | Usually a lower rate | You have a good credit history and can wait longer for approval. |
| Credit card or buy now pay later | Varies; late fees and interest add up | You can repay it all quickly and will not miss a payment. |
| Evercrest Finance medium amount loan | 46.50% p.a. fixed (comparison rate 64.63% p.a.*) plus a $400 fee | You need $2,050 to $4,600 for a one-off cost, you meet our criteria, and the repayments fit comfortably over 3 or 6 months. |
Test the repayment against your budget
- 1
Start with take-home pay
Use the money you actually get after tax, for the same period as the repayment (each week, fortnight or month).
- 2
Count real essentials
Housing, food, bills, transport, medical, children, your phone, and costs that do not come every month but always come.
- 3
Add what you already repay
Credit cards, other loans, buy now pay later, overdue bills and payment plans.
- 4
Leave some room
A budget that only works if nothing goes wrong is not a safe plan.
Enter real amounts. We check them against your bank data, and costs that are too low can lead to a loan you cannot afford.
Signs another option may be safer
- You are borrowing for rent, groceries, bills or another gap that keeps coming back.
- You need a new loan to repay a loan, or to avoid missing a repayment.
- You are already in hardship, behind, dealing with debt collectors or using several lenders.
- Gambling is using money you need for essentials or repayments.
- You do not know the total you would repay, or where the repayments would come from.
- Someone is pushing you, promising guaranteed approval or asking you to pay upfront.
Free, independent help
| Service | What it helps with | Contact |
|---|---|---|
| National Debt Helpline | Free financial counselling, debt, bills and hardship | 1800 007 007 · ndh.org.au |
| Moneysmart | Government information, calculators and cheaper options | moneysmart.gov.au |
| No Interest Loans | Essentials with no interest or fees, if you are eligible | 13 64 57 · Good Shepherd |
| Gambling Help Online | Free, private gambling support | 1800 858 858 · gamblinghelponline.org.au |
| Lifeline | Crisis support | 13 11 14 |