Small Loans Australia

MyOzMoney offers customers quick online applications and fast approvals for big and small loans in Australia. We are a wholly online lender which means that there is no unnecessary paperwork, and everything is completed online, in less than 5 minutes. When you apply for small loans in Australia like our fixed rate personal loans from $2,100 up to $50,000 during business hours, you typically receive loan approvals and your funds within 24 hours of submitting your application. Sometimes within just an hour of signing your loan contract, depending on who you bank with.

We offer quick cash loans across Australia so you can apply for personal loans in Sydney, Melbourne, Brisbane and anywhere else across the country using the same online loans 5-minute application form.

Small Loans Australia up to $50,000 | MyOzMoney

Personal loan eligibility for MyOzMoney required that applicants be at least 18 years old, a resident in Australia and currently employed. Applying online for our range of personal loans is quick and easy. Ensure you have all of your details ready, like your identification and your income details. We’ll ask you for some basic information about your living expenses – if you pay rent, how much and how often, what other bills you have, etc – and then we’ll ask you for your online banking details.

When you give us your banking details, you do so through a secure portal using the same security that your bank does. We receive a snapshot of your account, verifying that what you’ve told us about your salary and your living expenses is accurate. This takes the place of payslips and other verifying documentation that takes time and effort to provide. We skip all of that and use your most recent transaction statement from your bank instead.

This kind of instant online access means that we can significantly speed up your approval process, so you get the funds you need faster. As long as everything matches up and your credit check is quick and simple, we may not even need to contact you at all. You’ll simply receive our containing your approved credit amount, and if you’re happy with the fees and charges and you met all of our requirements, then you’re ready to go.

Generally speaking, and especially for small loans in Australia, you should receive your new quick loan funds the same day as your approval is received. It will depend on who you bank with, but it shouldn’t take longer than the next business day to clear for your money to clear.

How much you need, or can comfortably afford, to borrow will depend on your financial circumstances. For example, if you’re looking to refinance a personal loan to pay out the remaining balance sooner rather than later then a small loan could be all you need. However, if you’re interested in refinancing all of your credit, then it may be a good idea to make a list of all of your current debts and clean them all up with a larger cash loan.

Our loans come with fixed monthly repayments that are directly debited from your account. They’re easy to budget around and shouldn’t affect your cash flow. As a responsible lender, we only lend to customers who can comfortably afford to repay their loan amounts. If you already have a pretty full credit file then small loans in Australia might be the better option.

If you’re considering applying for our range of unsecured easy loans but you’re not sure yet how the repayments schedule will affect your current expenses, we recommend using our online personal loan calculator. These handy online tools allow you to input the loan amount, the fixed interest rate you’ll be paying and how long you’ll be repaying your loan for, and then return to you the likely repayments you will need to pay. You can use these calculators to help you work out your new living expenses with the loan repayments and determine what is a comfortable schedule and amount that you can afford. Things like establishment fees for your loan will usually be included in the principal loan amount, so always add a little extra to your calculations to ensure their accuracy.

Alternatively, our line of credit option could be the smarter option for you if you’re looking to borrow money regularly. The revolving credit option means that you can transfer cash when you need to your own bank account and then repay your credit funds either overtime or all in one go, depending on what works best for you. Like a credit card, once the funds have been repaid then they become available to use again and again, as often as you like.

Can small loans help your credit?

As part of our approval process, we will check your credit report and then assign you a MyOzMoney credit score. The higher the score, the lower the rates across all of our loan products. If you have had some trouble in the past with your credit file, don’t worry. We understand that sometimes life doesn’t go quite according to plan and taking our short term loans can sometimes help you rebuild your credit file successfully.

Apply online for small loans in Australia from MyOzMoney. Loan balances start at $2,100 you can take over as little as 12 months or up to $50,000 you can borrow over 5 years. Our line of credit option offers you instant, ongoing access to fast cash loans when you need them. Applications take just 5 minutes so apply now to see how much you could be approved for.