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✅No Credit Checks

A less-than-ideal credit score will not be an issue

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Why Should You Choose a No Credit Check Loan?

Low loan amount
with short-term repayment period

Borrowers with bad credit history can get a no credit check loan of up to $2,000, payable on their next paycheck or up to one year depending on the final approved loan terms.

Available for individuals
with poor credit scores

Unlike regular payday loans, no credit check loans are extended to individuals with poor credit history. Loan application approval, however, is still subject to the set criteria.

What are the Eligibility Requirements for a No Credit Check Loan

  • Be 18 years of age
  • Be an Australian citizen or permanent resident
  • With contact details such as mobile number or email
  • With bank statements containing the latest 3 months of regular income and expenditure transactions. Government benefits (Centrelink) shouldn’t exceed 50% of your income.

Your current financial standing, source of income, and other supporting documents may be required before extending a loan approval. As part of the application process, you’ll need to retrieve 90 days worth of bank statements. This is very simple and only takes a couple of minutes to complete.

The turnaround time on the application process for payday loans is usually 1 to 24 hours. Funds are also released within hours from the approval of the online loan application and submission of the signed debt agreement.

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for Faster Loan Processing


What are the Fees for a No Credit Check Loan?

The monthly fees for a no credit check payday loan has a maximum rate of 4% of the total loan amount.

It is against regulatory guidelines to impose an establishment fee exceeding 20% of the total loan amount. Establishment fees are usually just a one-off fee.

Default fees shall not exceed 200% of the loan amount. This should already include any additional enforcement expenses charged to the borrower if the borrower fails to pay the amount due.

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No Credit Check Loans FAQs

Where Can I Apply for a Loan if I Have Bad Credit?

You can apply through Friendly Finance. Here we offer a simple application process that is purely online. Just provide the information needed and let us do the heavy lifting of helping you find a no credit check loan.

What is a No Credit Check Loan?

Similar to a traditional payday loan, these unsecured loan products offer borrowers loan amounts from $100 to $2,000 and repayment periods from 16 days to 1 year. Unlike a traditional personal loan, they are extended to borrowers with poor or no credit who may struggle to find finance elsewhere. A low credit score with Equifax – the largest credit bureau in Australia, is a score lower than 579. A low credit rating indicates a poor financial history and suggests a more risky borrower.

What are the Repayment Options for No Credit Check Loans?

In compliance with government regulations, repayment options for borrowers are limited to 16 days to 12 months only. As part of the rules of responsible lending, the repayment period is determined by any responsible lender and will consider the borrower’s capacity to repay even with a bad credit score. Knowing the exact repayment period and paying off payday loans on time for payday loans would improve the borrower’s credit score and will eventually give them access to loans with better terms. The repayment amount will be debited automatically from your account as the lender will set up a direct debit at the start of your loan agreement.

Will a No Credit Check Loan Affect my Credit Rating?

Taking out any type of credit or loan will affect your credit score. How it affects your credit rating will depend on your payment behaviour. Your credit profile will improve if you keep on paying your payday loans (or even loans with any traditional lender) on time since this demonstrates positive financial behaviour as a borrower. However, if you fail to make repayments and default on your loan during the loan term, your credit score will suffer.

Are There Other Options Instead of a No Credit Check Loan?

  • Apply for No-Interest Loan Schemes (NILS): NILS is a better alternative to a bad credit loan since it does not include monthly fees in your repayment amount. If you need to pay for essential goods and services such as household items, medical expenses, or car repairs, you can apply for NILS through a local provider.
  • Credit Union Loans: A credit union loan is a good alternative to payday loans since this does not include high monthly fees. You can take out a credit union loan to 76 credit union loan providers in Australia.
  • Department of Social Services (DSS) Emergency Relief: DSS offers emergency assistance to individuals with difficult financial circumstances. You can go to the DSS website to check for the local emergency relief provider to ask for their local relief qualifications.
  • Overdraft: An overdraft facility with your banking institution may provide access to funds if your credit search isn’t fruitful.
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