Need Cash in a Hurry? The 2025 Guide to Fast Loans in Australia
Key Takeaways
Fast loans provide same-day or next-day access to funds for urgent needs.
Options include banks, fintech lenders, BNPL services, and lines of credit.
Interest rates and approval speed depend heavily on credit score and documentation readiness.
When cash flow is tight or an unexpected expense suddenly appears, a quick personal loan can be one of the fastest ways to bridge the financial gap.
In 2025, a growing number of Australians are turning to these carefully structured, accessible, and fully online loans to manage everything from emergency car repairs to consolidating high-interest debt.
This guide provides an in-depth look at the types of fast loans available, how the application process works, the factors that influence your interest rate, and how your credit score plays a crucial role in the terms you’re offered.
What Are Quick and Fast Loans?
Quick and fast loans are personal loans specifically designed for speed, providing approved applicants with funds within hours or on the same day. They are tailored for convenience and typically feature a fully digital process.
Key characteristics often include:
Loan Amounts: Generally ranging from $1,000 to $75,000, depending on the lender.
Application Process: A fast online application that can often be completed in 10 minutes or less.
Funding Speed: Funds are often delivered within 24 hours of approval, and in some cases, almost instantly.
Interest Rates: Rates can vary widely, from as low as 6% p.a. for applicants with excellent credit profiles to over 20% p.a. for those with lower credit scores.
These loans are most effective in situations where time is critical, such as for urgent car repairs, unexpected medical bills, or managing temporary gaps in cash flow.
⭐Pro Tip: Did you know you can apply through Friendly Finance when you’re in need of fast loans? Since we have a vast network of reputable lenders, we can help you search for the loan you need minus the hassle of multiple applications.
What Are Your Fast Loan Options?
Fast loans are not a one-size-fits-all solution. The market offers several types, each catering to different financial needs and credit profiles.
Traditional Banks
Major banks offer some of the most trusted personal loan options, particularly for borrowers with strong credit histories. These are typically unsecured loans with repayment terms from one to seven years. While their lending criteria can be stricter, they often provide lower interest rates and greater stability, with funds released within one business day after approval.
Fintech & Online Lenders
Digital lenders like Plenti and Harmoney have revolutionised the fast loan market. They offer streamlined online applications, rapid credit assessments, and funding often within 24 hours. Their key advantage lies in flexible lending criteria and personalised rates based on a holistic view of your financial profile, making them an appealing choice for those who may not qualify with a major bank.
Buy Now, Pay Later (BNPL)
While not a traditional loan, BNPL services such as Afterpay and Zip offer fast, interest-free financing for smaller purchases at checkout. It's a convenient option, but it's important to note that missed payments can lead to fees and may affect your credit file as providers increasingly adopt credit reporting practices.
Related Read: A Complete Guide to Buy Now Pay Later for Australians in 2025
Lines of Credit
A line of credit functions like a flexible credit card without the physical card. A lender approves a set borrowing limit, and you only pay interest on the funds you use. Fintech lenders are now offering digital lines of credit with faster setup times, making them ideal for managing irregular expenses, especially for freelancers and sole traders.
Quick Loan Providers in 2025
Here is a comparison of some of the top fast-loan providers currently in the market :
Lender | Loan Amount | Interest Rate (p.a.) | Comparison Rate (p.a.) | Turnaround Time |
$5,000–$65,000 | From ~6.28% | ~6.28% (fixed example) | Typically funded within 24 hours | |
$2,000–$70,000 | ~5.76% to ~24.03% | ~6.55%–24.98% | Approval and funding in minutes to hours | |
$5,000–$50,000 | ~5.99% up to ~24.49% | ~6.70% to ~25.90% | Same-day approval; funds in as little as 60 minutes | |
$5,000–$50,000 (Unsecured) | From ~6.45% to ~26.95% | Same as interest rate | Approval online, funds in 24–48 hours |
What Influences Your Interest Rate?
The rate you are offered is not arbitrary. Lenders assess several factors to determine your risk profile and customise their offer :
Credit Score: A higher credit score almost always results in a lower interest rate.
Banking History: A stable record of regular deposits and responsible account management strengthens your application.
Loan Amount: Larger loan amounts may undergo stricter reviews but can sometimes attract slightly lower rates.
Repayment Terms: Fixed-rate loans provide predictable repayments, while variable rates may start lower but can change over time.
Tips for a Speedy Approval
To improve your chances of getting approved quickly and securing favorable terms, consider these steps :
Check Your Credit Score: Run a free credit check to identify and correct any errors before you apply.
Prepare Your Documents: Have recent bank statements and proof of income ready to ensure a smooth application process.
Choose the Right Amount: Apply for a loan amount that meets your needs without being so high that it raises red flags for lenders.
Compare Lenders: Fintech and online lenders are often faster, but traditional banks may offer better rates if you have a strong credit profile.
Final Thoughts: Using Fast Loans Responsibly
In 2025, quick personal loans offer a streamlined and effective way to access funds when you need them most. However, their convenience comes with the responsibility to borrow wisely. Always compare interest rates, understand all fees, and ensure the repayments align comfortably with your budget.
When used strategically for genuine needs, a fast loan can be a powerful financial tool. When mismanaged, it can lead to financial stress. Always prioritise your long-term financial health and choose a loan that serves as a solution, not a burden.
If you’re still looking for a fast loan and don’t know where to start, Friendly Finance can surely help. Fill in our quick application form and we’ll find you your lender match within seconds!
