FAQ’s – We have all the answers

Am I eligible for a payday loan?

Most probably.

paydayloans.com.au will only match you with reputable, responsible lenders who provide short term solutions, not long-term debt traps. The lenders we deal with truly care about their clients and will only lend to those who can afford it.
These are the general criteria you have to meet.

  • You are over 18 years of age
  • You earn a minimum of $400 net per week
  • You have an active bank account
  • You are employed full or part time and are not self-employed

If you meet the above requirements, you are eligible to apply for a loan. Your details will be matched with one of our preferred payday lenders. If your loan is approved, expect cash 60 minutes later during business hours.

What is a payday loan?

A cash advance. A short term cash loan. A payday advance. A payday loan. No wonder people get confused. Putting it simply, a payday loan is a cash loan until your next payday. It’s a loan for a small amount, usually between $100 and $1500. It is repaid within a few days or weeks. These are short term solutions only and help with unexpected and out of the ordinary cash needs. Your car has broken down. Rego is due. An unexpected mobile phone bill. A hot date to impress. Whatever the reason, we can help you get cash in your bank account in 60 minutes.

Payday loans offer an easy way to access YOUR money before your next payday. Our online application form will match you with an online payday lender. When you accept the loan agreement, you agree to a payment reschedule that fits in with your normal pay cycle and capacity to repay.

An online payday loan is the easiest and most convenient way of getting a fast cash loan.

Why have payday loans had a bad reputation in the past?

Unfortunately some short term lenders do not lend responsibly. This means they do not assess capacity to repay and sometimes fail to ensure that their loans are taken as short term solutions only.

That’s why you’ve come to the right place. We’ve done the research and chosen professional, ethical companies for you.

As advocates of the best payday lenders in the country, we see payday loans as a great way to get emergency cash in a hurry without being burdened with long-term debt. In the past, sensationalised media reports have used the APR (annual percentage rate) as a comparative measure when it came to the cost of short-term loans (payday loans) versus traditional old-school lending. Read this great article from one of our preferred lenders. It explains why the APR is not a valid for measuring the cost of loans that run for less than a year.

Up to $1500. All online. In 60 minutes. All sounds too good to be true? But with revolutionary secure technology it happens every day without incident. It makes the traditional personal loans process look archaic.

Old school lending is generally a long-term approach. Amounts bigger than you need paid back over a much longer period. You may get the “Woo Hoo” feeling but not long after, that short-lived relief turns into an annoying little debt dog yapping at your heels. It can take years to shake off. Debt. Debt. Debt. Debt. Constantly barking at you.

Payday loans are short-term cash advances that pull you quickly from the current without drowning you in long-term debt.

How much can I borrow?

Depending on your circumstances, up to $1500. The quickest way to find out exactly how much you can borrow is to apply now.

Tell us how much you want and we’ll match you with a lender who is prepared to offer you that exact amount, or give you a second cash loan offer. Our lenders won’t allow you to borrow beyond your repayment ability. For first-time cash advances where the applicant is paid weekly, the maximum amount is $200. If you are paid fortnightly, the maximum amount is $300. Once you have established a trusting relationship with your payday loans lender your borrowing power will increase.

How much does a payday loan cost?

We work with the most competitive lenders in the industry. Our partnership with Cash Doctors, Payday Mate and Dollars Direct means that you’ll be matched with a lender that suits your requirements.

When applying for a cash advance you may find yourself applying at several different lenders before being approved. At Payday Loans you fill out just one application – then we match you with the cheapest appropriate lender. Below are the prices of our lenders – please note these are subject to change.

Cash Doctors
Presently, one of our preferred online lenders (cashdoctors.com.au) offers first-time cash advances for just 1c. For example you borrow $200. You only repay $200.01. This is an excellent risk-free way of enjoying the ease and convenience of a payday cash loan.

Payday Mate
These advances incur a $1 admin fee and a $28.98 broker fee – for each $100 you borrow. So you basically pay a flat fee of $29.98 for each $100 you borrow.

Dollars Direct
If you borrow between $125 and $375, you pay a brokers fee of $25 for every $100 borrowed. If you borrow between $400 and $2000, you pay a brokers fee of $27.50 per $100 borrowed.

First Stop Money
They charge a flat rate of $36.50 for each $100 borrowed.

What happens after I fill in the online application form?

Depending on the information you provide us, we match you with a preferred lender and automatically transfer your details to the lender’s site. They will review your information in seconds and you’ll receive a preliminary loan offer. This will highlight everything you need to know including the final cost of the loan and your repayment schedule. There are no hidden charges. It’s all out in the open. When you’re happy with all the details you confirm your cash advance. You’ll have cash 60 minutes later.

Can I still get a cash advance if I have a bad credit history?

Our lenders may consider your credit history is a thing of the past. Most of our lenders treat it that way unless you have been bankrupt, have extremely bad credit history or are in a part nine debt agreement. We’re here to get you out of trouble – not into more.

Do I need any documents or paperwork to apply for a payday loan?

Provided you agree to a check with your payroll rather than submitting payslips, there are absolutely none. This is definitely one of the best things about our online payday loans.

Who are paydayloans.com.au?

paydayloans.com.au is Australia’s gateway to the best payday loans in the country. We have done the research and have established relationships with trusted online payday lenders. We match you with the best short-term loan solution depending on your present financial circumstances and cash loan needs.

All our lenders are typically Paper-free. Fax-free. Stress-Free.

Contact us – fastcash@paydayloans.com.au

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