- Home
- Payday Lenders
- Credit24 Reviews
Apply now and have an approval decision within minutes
Associated fees:
20% establishment fee
4% monthly fee
Example Loan Cost:
Borrow $1,000 → Repay $1,560 over 6 months
Borrow $2,000 → Repay $3,120 over 12 months
Repayments: Flexible repayment terms (weekly, fortnightly, or monthly)
Best For:
✔ Unexpected expenses (medical bills, urgent repairs, utility bills)
✔ Borrowers needing fast access to small cash loans
Associated fees:
$400 establishment fee
48% annual interest rate (APR)
Example Loan Cost:
Borrow $3,000 → Repay $5,200 over 18 months
Borrow $5,000 → Repay $7,900 over 24 months
Best For:
✔ Debt consolidation, car repairs, rent, or large bills
Associated fees:
Depends on credit profile; but may include establishment fees and ongoing charges
Interest rate varies based on credit score (up to 48% p.a.)
Best For:
✔ Borrowers looking for larger amounts for significant expenses
✔ People wanting structured, longer-term repayments
✔ Most applications are approved instantly using automated processing.
✔ Funds are typically transferred the same day if approved before 2 PM.
✔ Direct bank transfer ensures quick access to funds.
Other fees associated with Credit24 Loans:
Late payment fee of $10 per week
No mentioned default and early repayment fees on Credit24 website
All information included here on Friendly Finance are accurate and in line with the data available on Credit24 website as of February 2025.
About Credit24
📌 Founded: 2012
📌 Headquarters: Sydney, New South Wales, Australia
📌 Credit Licence: Australian Credit Licence (ACL) 422931
📌 Regulated by: Australian Securities and Investments Commission (ASIC)
📌 Main Services:
✔ Small & Medium Personal Loans
✔ Fast Online Loan Applications
✔ Flexible Repayment Options
Credit24 is an Australian personal loan provider that offers small and medium-sized loans with fast online approvals and flexible repayment terms. The company is owned by IPF Digital Australia Pty Ltd, a subsidiary of International Personal Finance Plc, a global lender operating in multiple countries.
Unlike payday lenders, Credit24 offers longer repayment terms (up to 36 months) and uses a risk-based pricing model, meaning interest rates depend on the borrower’s credit score and financial profile.
Credit24: Eligibility Requirements
The application process for Credit24 is done through the company’s website or you can also easily apply for a loan using this form. To process your loan application, you need to pass Credit24's eligibility requirements:
- You must be an Australian citizen or a permanent resident of Australia.
- You must be at least 18 years old.
- Employed and have money deposited into your bank account.
- Have a good credit history.
- Make at least $1,000 every month.
Loans are often approved on the same working day. Money is usually delivered within 24 hours after filing your loan application and after your loan is accepted. If your loan is approved before 3 PM AEST during weekday business hours, you might get the cash through your bank account in as little as an hour, depending on the banking institution.
Loans approved by the accounts team after this time will be transferred the next business day. Payments will be completed within a few hours if you bank with ANZ, Westpac, Commonwealth, or NAB. Other banks may need up to the next working day for funds transfer.
Instant Approval Process: Most applications are processed within minutes.
Same-Day Funding: Loans approved before 2 PM are funded the same day.
Flexible Loan Amounts: Small, medium, and large loans available.
Bad Credit Options: Some applicants with lower credit scores may still qualify.
100% Online Application: No need to visit a physical store.
ASIC-Regulated & Licensed: Fully compliant with Australian lending laws.
The Company: Credit24
There are some positives and negatives for prospective borrowers to consider before using Credit24 as an online lender. As part of the reviewing process for this page, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- Speedy loan application process and loan approval process.
- Online processing of applications through the self-service portal.
- Loan top-up options for eligible borrowers.
- Auto-debit arrangement for scheduled payments.
Negatives
- Problems with the user interface of the self-service online portal, resulting in a slow process for online customers.
