Low income loans

        Low income loans in Australia

If you are a low income earner needing money to make ends meet, there are plenty of affordable, easily available options for you to utilise.

$1,900
Loan amount $500 - $1,900
Interest 4 %
Maturity 3 - 12 months

Fast information

Properties of this loan

  • Online loans up to $1 900
  • Term 3 - 12 months

Loan requirements

  • You must be over 18 years old
  • An Australian citizen or Australian permanent resident and have a regular income
  • You will also need your own email address and mobile phone number

About company

More information about the company Ferratum Australia Pty Ltd.

Borrow from $500 with interest from the 4 % Moread
$10,000
Loan amount $500 - $10,000
Interest 48 %
Maturity 1 - 36 months

Fast information

Properties of this loan

  • Online loans up to $10 000
  • Term 1 - 36 months

Loan requirements

  • Be a Permanent Resident
  • Be aged 18 years or over
  • Be employed and get paid into your bank account
  • Have a reasonable credit history
  • Earn at least $600 a month

About company

More information about the company IPF Digital Australia Pty Ltd.

Borrow from $500 with interest from the 48 % Moread
$12,000
Loan amount $2,000 - $12,000
Interest 19.95 %
Maturity 12 - 24 months

Fast information

Properties of this loan

  • Online loans up to $12 000
  • Term 12 - 24 months
  • Easy online application

Loan requirements

  • Be Over 18 Years Old
  • Take Home Income( with benefits) over $400 a Week
  • Be an Australian Resident
  • Get Your Income Paid into Your Account

About company

More information about the company Money3 Corp. Ltd.

Borrow from $2,000 with interest from the 19.95 % Moread
$15,000
Loan amount $3,000 - $15,000
Interest 43 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Online loans up to $15 000
  • Term 1 - 5 years

Loan requirements

  • At ClearLoans, we do not judge you based on your credit score.
  • All we require is that our borrowers are Australian residents aged 18-75
  • Not on an active bankruptcy, not on an active or terminated Part IX Debt Agreement (or equivalent)
  • Be able to comfortably afford the repayments
  • You will also need a friend or family member who trusts you to be your guarantor

About company

More information about the company Membo Finance Pty Ltd

Borrow from $3,000 with interest from the 43 % Moread
$2,000
Loan amount $100 - $2,000
Interest 24 %
Maturity 1 - 3 months

Fast information

Properties of this loan

  • Online loans up to $2 000
  • Term 1 - 3 months
  • Easy online application

Loan requirements

  • You need to be at least 18 years old to apply for a loan
  • Valid mobile number and email address

About company

More information about the company Venture 5 Group Pty Ltd

Borrow from $100 with interest from the 24 % Moread
$15,000
Loan amount $500 - $15,000
Interest 4 %
Maturity 3 - 24 months

Fast information

Properties of this loan

  • Online loans up to $15 000
  • Term 3 - 24 months
  • Easy online application

Loan requirements

  • Cashify Personal Loans from $500.00 – $2,000.00: Maximum Monthly Interest Rate is 4%. Maximum Annual Percentage Rate (APR) is 48%. The Establishment Fee is 20% of the loan amount borrowed. Other fees may apply. Please refer to your loan contract for all fees, interest, and terms and conditions. Minimum loan contracts are generally 90 days with most loan contracts between 90 to 365 days. For example, a loan of $500.00 repaid over 3 months equates to a total amount payable of $702.00 comprised of $500.00 principal (amount borrowed), $100.00 Establishment Fee, $72.00 in interest and $30.00 in monthly account fees.

About company

More information about the company Cash Supply Pty Ltd

Borrow from $500 with interest from the 4 % Moread
$75,000
Loan amount $2,001 - $75,000
Interest 5.45 %
Maturity 1 – 7 years

Fast information

Properties of this loan

  • Online loans up to $75 000
  • Term 1 - 7 years

Loan requirements

  • You should be at least 18 years or older.
  • You should be an Australian citizen or permanent resident.
  • Be in active employment or receive a pension.
  • Have no defaults (paid or unpaid) or active payday loans.
  • Centrelink can be used as a secondary income with regular income.
  • Not be a current or prior bankrupt or be party to a court judgement.

About company

More information about the company OurMoneyMarket Lending Pty Ltd

Borrow from $2,001 with interest from the 5.45 % Moread
$30,000
Loan amount $2,100 - $30,000
Interest 4.99 %
Maturity 6 – 60 months

Fast information

Properties of this loan

  • Online loans up to $30 000
  • Term 6 - 60 months

Loan requirements

  • Over the age of 18 years old
  • Be receiving regular income
  • Haven’t been bankrupt
  • Be an Australian Citizen /
  • Permanent Resident

About company

More information about the company Alex Bank Pty Ltd ABN

Borrow from $2,100 with interest from the 4.99 % Moread
$30,000
Loan amount $2,100 - $30,000
Interest 4.99 %
Maturity 6 – 60 months

Fast information

Properties of this loan

  • Online loans up to $30 000
  • Term 6 - 60 months

Loan requirements

  • Over the age of 18 years old
  • Be receiving regular income
  • Haven’t been bankrupt
  • Be an Australian Citizen /
  • Permanent Resident

About company

More information about the company Alex Bank Pty Ltd ABN

Borrow from $2,100 with interest from the 4.99 % Moread
$70,000
Loan amount $5,000 - $70,000
Interest 5.45 %
Maturity 2 – 5 years

Fast information

Properties of this loan

  • SocietyOne Debt Consolidation Personal Loans up to $70 000
  • Term 2 - 5 years

Loan requirements

  • Must be an Australian citizen or a Permanent Resident residing in Australia
  • Must be at least 18 years of age

About company

More information about the company SocietyOne Australia Pty Limited

Borrow from $5,000 with interest from the 5.45 % Moread

        Low income loans in Australia

What loan options are available?

Centrelink Loans

This is not a loan as such, but rather an advance payment of any money you're entitled to in the future. Rather than wait for your Centrelink payments, they can be paid to you early and then repaid out of future Centrelink payments.

No Interest Loans (NILS loan)

Under the no interest loans scheme (NILS), low income earners can borrow up to $1,500 to be used on essentials. Repayments are made over 12 to 18 months and the best part is there are no credit checks, no interest and no fees or charges! This is a good option for anyone with bad credit.

To be eligible for a no interest loan you must have one of the following:

Low Interest Loans

A StepUp loan allows low income earners to borrow between $800 and $3,000 with a low interest rate which is fixed at 5.99%. There are no fees and charges which makes this quite a cheap option. The loan can be paid back weekly, fortnightly or monthly over a loan term of up to three years.

To be eligible for this loan you must:

Short-term loans

A payday loan or small amount loan lets you borrow up to $2,000 for a period ranging from 16 days to 12 months. Payday loans come with hefty fees and charges so cheaper options should be investigated first.

Credit Cards and Small Personal Loans

Some traditional lenders offer small personal loans and credit cards to low income earners if they meet the minimum income requirements. These options are generally expensive with high interest rates, fees and charges.

How to Compare Loan Options

Factors to consider when comparing loans:

There are many different loan options available for low income earners to access with varying features. When considering your options, it's important to make sure that each aspect of the loan suits your personal circumstances before committing to anything. As a low income earner, the last thing you'll want to do is get locked into a commitment you can't afford, so be sure to have a solid understanding before rushing in.


Low income loans in Australia rating: 4.5/5 from 34 votes.

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