FAQ

Have questions? Find your answers here.

We make applying for personal loans easy. We get all the necessary details from you and if you match our basic requirements, we work towards pairing you with a credit provider who will be able to provide you with the personal loan that you need. We do our best to find you a lender in minutes after applying, so why not give us a go?

Our minimum eligibility criteria is simple. You must:
- Be over 18 years old
- Have an Australian citizenship or permanent residency
- Be receiving a regular income into a personal bank account for the last 90 days
- Have an active phone number and email address

Once you’ve submitted your application, we’ll take a look to see if you get provisional approval. This simply means we’ll check to make sure you meet our minimum eligibility criteria. We’ll then work our loan magic by finding a provider to pair you up with. It will be up to your loan provider to conduct a thorough loan assessment to reach an outcome on your application.

We are 100% online so our application process is simple, convenient and fast. Simply fill in our application form online to get the process started. You can submit your application at any time and we’ll process them during business hours. Our business hours are:

- Monday to Thursday - 8am to 6pm
- Friday - 8am to 4pm EST.

Yes, you sure can! We’ll do our best to find you a suitable loan provider who is happy to accept Centrelink clients and they’ll get straight on to doing a full assessment for you.

Same Day Personal Loan doesn't personally conduct credit checks. However, once we’ve paired you up with a provider, as part of responsible lending, the lenders will conduct credits checks on all eligible applications. If they can see that your current financial situation is looking good, they will happily consider your application.

Yes! We are firm believers that just because someone doesn't have the best credit history, doesn't mean they don't deserve a fair go as well. We all make mistakes. Circumstances can change, and there are situations outside of our control that can affect our ability to make repayments leading to strikes on your credit file. Don't let this deter you from making an application. The lenders we find won't judge you solely by your past.

Most lenders will release your funds to you shortly after they have received a signed contract back from you. Just remember that the time it takes to process your funds depends on the speed of your bank.

Some of the larger banks will be faster than others. At the very latest, you will receive your funds overnight.

If you sign your contract outside of business hours, your funds will be released with the next round of banking on the next business day.

Lenders try to make it as simple as possible for you to repay your loan. Generally, a direct debit repayment will be set up in line with your payday. Just make sure you’re familiar with your repayment amounts and when they’re due.

Ensuring that there are sufficient funds in your account on your repayment day will stop any possible direct debit dishonours from occurring and get your loan paid in full, nice and fast.

If you do stop making your repayments you run the chance of having a default placed on your credit file. Having a default on your credit file can hinder your chances of getting funds in the future, for example, larger loans such as car or home loans.

If your circumstances change and you find yourself unable to make your contractual repayments - get in touch with your lender. They can help by putting a payment plan in place for you to make your repayments more manageable. They would much prefer to work with you to get your loan settled instead of passing you along to an external debt collector and placing a default on your file.

A SACC is a Small Amount Credit Contract and is a government regulated loan under the National Consumer Credit Protection Act (2009). Their repayment terms can vary from between 16 days up to a year, up to the amount of $2000. Legally, lenders are not allowed to charge you more than a 20% establishment fee and a 4% monthly fee.

A MACC is a Medium Amount Credit Contract (also government regulated under the NCCPA 2009). A MACC can be repaid from 16 days up to a 2 year term and are for loans from $2,001-$4,600. Generally, a MACC loan is a secured loan, which means you offer a vehicle such as a car as security against the loan while it is being repaid.

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