Instant Cash Loans

How much would you like to borrow?




Apply Now

Apply now and have an approval
decision within minutes

Life could happen at any moment. There’s no need to panic, though! Friendly Finance Australia is here to help. With our array of instant cash loans, you won’t have to worry about digging into your savings.

Unexpected expenses do not stick to a schedule and can creep up on you very suddenly. Whether it’s your car, a chipped tooth, or a burst water pipe, when you run into financial gaps, a loan will tide you over. Choosing the right personal loan will depend on the amount and duration that you need it for. Short-term instant cash loans are the way to go.

What are Instant Cash Loans?

Instant cash loans offer borrowers the chance to receive immediate funds when they are needed. Most traditional lenders can take up to a week to provide a lending decision, which doesn’t work for customers who need the money straight away – for example, if they are hit with unexpected bills.

Instant cash lenders can be found online in Australia, typically offering loan amounts up to $2,000 with loan repayments from 16 days to 12 months. By applying through Friendly Finance, you will receive an instant decision and, if approved by a lender, could have the money within minutes of signing your instant cash loan agreement. We work with a network of licensed lenders who consider applications from customers with ranging credit histories and scores.

Due to the fast instant cash loan turnaround, these loans can come with higher fees than traditional lenders and should only be used as a last resort if no alternative options are available to you – such as other lines of credit or savings.

Features of Instant Cash Loans In Australia

Loans up to $2,000

For loans amounting to $2,000 and below, the approval time is usually in the region of 24-48 hours, depending on the lender. Funds are sent to the nominated bank account of the borrower within minutes or hours from the time of the approval and signing of the loan document. For small loans, regulations set by the Australian Securities and Investments Commission set the repayment cap at a minimum of 16 days up to 24 months.

For loans $2,000 and below, the fees included are the following:

  • Establishment fee: a one-off establishment fee of 20% of the loaned amount can be set by the lender when offering loans to qualified borrowers.
  • Monthly fee: ASIC has set the monthly account-keeping fee for loans below $2,000 to not exceed 4% of the borrowed amount.
  • Default Fees: the default fees are set by the lender, but should not exceed 200% of the loaned amount.
  • Enforcement Fees: other contract loan enforcement fees shall be due to the borrower if the borrower defaults in payment.

Loans from $2,001 – $5,000

For medium-term instant cash loans amounting to $2,001 up to $5,000, you can get a loan within 24 to 48 hours from the time of the approval. Funds will be disbursed on your account within 1-3 business days from the time the loan was approved by the lender. You can borrow $2,001 up to $5,000 with payment terms of 16 days up to 2 years.

Instant cash loan repayment fees include the following:

  • Establishment Fee: A one-time establishment fee of $400 shall be included in the repayment fees for the loan.
  • Annual Interest Payments: an annual interest rate of 48% (including all fees and charges) is the maximum allowable rate set by ASIC when borrowing loans between $2,001 to $5,000.
  • Missed Payment Fees: lenders usually set missed payment fees in the event of default in payment by the borrower.

Eligibility for an Instant Cash Loan

The following are the common criteria for getting instant cash loans:

  • Be an Australian citizen or a permanent resident of Australia
  • Be 18 years old and above
  • With bank statement covering 90 days of income and expenditure transactions
  • Have a regular income for 3 months or more, with Centrelink not exceeding 50% of the total income garnered during the period.
  • With a good credit score and with identification documents such as an Australian Drivers Licence or passport.

How to Apply For an Instant Cash Loan?

To apply for instant cash loans, you need to answer the online application forms provided by the lender. You will need to provide information on the loan amount, personal details such as the contact information and residential address, and your employment details (including 90-day bank statements containing your income and expense expenditure). Bank statements are required to determine your financial standing and your capacity to pay off your loan. The lender will also use the account to disburse the cash proceeds from the loan upon approval. Friendly Finance extracts these banking statements via a secure online tool in just a few minutes!

The entire application process for Friendly Finance will only take minutes to complete, with an instant decision released within a few moments. No hard credit check will be conducted (therefore, will not affect your credit score) and no fees will be required by Friendly Finance during the application process.

Reviewing your Loan Agreement

When getting a loan from any instant cash lender, you will receive a loan agreement to review and sign before the proceeds of the loan are disbursed to your bank. You need to review the following information before you sign off any loan contract:

  • Repayment Amounts: before taking out any loan and signing off on any loan amount, you need to consider if you can manage to pay off the amount over the period of the loan repayment term. Not being able to pay off your loan on time and defaulting on loan payments will decrease your credit score and will definitely make it difficult for you to secure instant cash loans with better terms in the future.
  • Loan fees and other hidden costs: Check if the fees for the small amount or medium amount loan that you will take out conform to the minimum and maximum terms and amounts set by the government. It should not exceed the legal maximum monthly fees, annual interest rates, and the one-time establishment fee.

You should also check out if the loan contract contains other hidden fees such as early repayment fees, dishonour fees, and other payments that will make it difficult for you to pay off your loan immediately.


What are the Alternatives to Bad Credit Loans?

Here are some alternatives to instant cash loans:

  • Borrow from friends or relatives: If you have an urgent need for cash, you may consider borrowing from friends and family.
  • No-interest loan: No-interest loans are provided by 170 local community organisations in 600 locations around Australia. With these loans, you may borrow up to $1,500 for a period of 12 to 18 months. There are no interest rates, fees, or taxes on these loans. You will just have to repay the amount borrowed.
  • Credit Cards: Unlike instant cash loans, credit cards will perform a credit check but may have lower thresholds to approve. A well-managed credit card can help build your credit score over time.
Now that you know how we work, let us get you a loan.
Get my Loan

Instant Cash Loans FAQs

How quickly will I receive funds?

Lenders typically release funds for the loan within 1-3 business days from the time the loan was approved. The funds can also be transferred instantly provided that you have the necessary qualification for the loan and you have provided the needed details such as your identification information and contact information. Based on the data, 99% of the loan accounts are funded within 24 hours from the time the loan was approved by the lender.

The loan will be credited directly to the nominated bank account of the borrower and the bank account submitted by the borrower during the application process.

Is It safe to give all the required information to Friendly Finance?

Yes, it certainly is. We understand the importance of handling your sensitive information in a responsible manner, and we’re dedicated to conducting business in an open and transparent way to reflect this.

Our privacy policy sets out how we handle and manage all your information in compliance with our requirements under the Privacy Act 1988, Australian Privacy Principles, and any related privacy codes.

This policy details how we collect, use, disclose, and hold your information. However, we generally don’t collect or hold sensitive information unless you have consented to it. The information that we do ask for is reasonably necessary in order for us to provide one of our products or services.

For further detailed information please review our Privacy Policy, where you can get the ins and outs of what we do with your information.

Can I take more than one loan?

You should only borrow what you’re sure you can afford to pay back. Short-term financial solutions should not be intended to cover long-term needs.

We follow strict Responsible Lending Practice principles, which are basic guidelines as to how to make sure borrowers don’t become over-indebted and reckless. Only one loan should be applied for at any given time, and we strongly advise repaying any existing loans before applying for another.

Apply Now

Latest Articles

Achieving Homeownership
Loans in Australia

Understanding the Mortgage Process in Australia

The path to homeownership often begins with saving for a down payment and navigating the intricacies of the mortgage process.
Lifestyle Inflation
Lifestyle Finance

Lifestyle Inflation: Managing Rising Expenses as Your Income Grows

It's crucial to strike a balance between income growth and responsible spending habits to achieve financial stability.
Family Finance
Money & Parenting

Balancing Parenthood and Financial Well-being in Australia

Explore the various strategies and resources available to parents to help them achieve financial well-being while raising families.
Budget Friendly Tips for Exploring Australia
Lifestyle Finance

Traveling Smart: Budget-Friendly Tips for Exploring Australia

Budget-friendly tips and insider secrets that will enable you to experience the wonders of Australia while keeping your wallet happy.