There are countless numbers of loan apps in Australia. Still, in this article, I will share the 7 best personal loan online apps in Australia that provide instant payment, a low annual interest rate, and a sufficient repayment time frame.
Most importantly, the apps are safe and have instant approval of loan requests.
KEY TAKEAWAYS
- You will find the top 7 personal loan online apps in Australia and their features
- The best personal loan online app for an instant loan
- Answers to some frequently asked questions on personal loan online apps in Australia.
Top 7 Personal Loan Online Apps in Australia
Getting loans from banks can be lengthy and exhausting owing to heightened regulations, but personal loan online apps have changed the lending ecosystem forever. Below is a list of Australia’s top 7 personal loan online apps.
READ ALSO: The 7 Best Bad Credit Loans With Guaranteed Approval In Australia
#1. SpotMeNow
The SpotMeNow platform is an online loan provider whose specialty is providing flexible, fast, and near-instant loans. The SpotMeNow platform leverages advanced real-time risk assessment technology, enabling the platform team to make instant loan approval decisions.
The application process is Online and available 24-7. loan applications can get a fast decision, and the funds can be transferred within the same business day. The platform loans are highly flexible, allowing people who meet the eligibility criteria to borrow from $1000 – $5000 with flexible repayment terms.
The SpotMeNow platform is upfront with its fee structure; with each loan’s total costs clearly stated, potential clients, can make a fully-informed decision about whether or not to proceed.
The online member’s dashboard each client signs up to makes it fast and easier for them to manage their repayments and stay on top of the loan. The platform also has 24-7 online support available to help their clients with any questions or concerns they may have.
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#2. Fundo
The Fundo platform is an Australian-owned short-term loan provider that lets people borrow between $300 – $2000.
Unlike traditional lenders, the platform doesn’t assume that people with a less-than-ideal credit rating are high-risk borrowers. The platform looks at their circumstances to assess their ability to repay a loan before making a decision. Approved individuals also often receive their funds on the same day.
If applicants aged 18 and over have a regular employment income and can provide the platform with the information they need, they can apply for an online loan. If their loan is approved, then they have the option to repay it in installments over 61 – 180 days.
People can manage their loan and their Fundo account through their personalized dashboard, which lets them check their Fundo credit score, update their account, make payments or reschedule, and refer and earn points – all from their smartphone or PC.
#3. MoneySpot
The Moneyspot platform is one of the best instant loan apps in Australia. The Moneyspot platform provides hassle-free personal loans that are 100 percent (%) online and processed on a 24-7 basis. The platform is designed for short-term borrowing to cover shortfalls in finances, and the platform loans can be applied for up to 5 months and allow clients to borrow between $200 – $5000.
The Moneyspot platform offers installment or personal loans from $200 to $3500 with a quick application and fast approvals. The platform typically processes, approves, and sends funds in less than an hour or the next day if the loan is applied outside business hours.
The Moneyspot platform provides a cash loan calculator that allows potential clients to gauge their repayments before finalizing their applications. Through the platform’s stringent eligibility standards, it ensures that only employed individuals who are capable of repaying the loan are approved.
With a Moneyspot Small Loan, people can borrow $200 – $2,000. Applications are online, but the loan features high charges.
The platform offers small, unsecured loans that people can get within an hour of applying. The platform accepts applications from bad credit borrowers, and the application process is online and takes about 5 minutes to complete. The platform charge standard payday loan fees, which include a monthly fee of 4% and an establishment fee of 20%.
#4. Credit24
The Credit24 platform offers flexible loan packages where clients can choose their loan amounts and repayment period. Repayment periods are between 6 months and 3 years.
All applications are made solely online, and people will instantly receive a notification about their loan status. People could receive the money within 24 hours of approval. The platform is owned by IPF Digital group, which operates other Credit24 companies globally and has more than 200,000 customers.
The Credit24 platform offers an easy and fast online application for up to $2,000.
Features
- If people need to request a change to their payment plan, they can email Credit24’s accounts team.
- An online loan tool is provided to help people consider each amount and repayment time frame to make an informed decision.
- Affordable rates are on offer on the Crddit24 platform. There are a variety of low-rate personal loans offered on the platform.
People can apply online. The entire process of using the Credit24 Australia platform is online. Once people apply, they can receive instant notification about the status of their loan.
- The money may be deposited in their bank account within 24 hours.
- Loans feature flexible terms between 6 months and 3 years.
- The loans don’t require security and the rate changes depending on the loan term, so people can adjust how much they pay.
- Online loans available from $500 – $10,000.
- All loan options are made to suit people’s needs and developed under their financial situation. As well as being able to choose their loan amount, they can also choose their repayment period.
- affordable repayments are designed to help people pay back their loans easily.
#5. CashnGo
The CashnGo platform is a short-term finance lender delivering fast loans to people who need some extra cash in a hurry. The platform provides access to loans of $300 to $2000 with flexible repayment options, allowing potential people to set up their repayment calendar before they confirm their application.
The platform is fully-transparent with the total repayment amount of each loan will cost, with an emphasis on ensuring their clients are comfortable with the arrangement they enter into. People with a steady income can apply for this loan from CashnGo, and applications are submitted online.
Features
- Effortless Process: the loan application takes up to 5 minutes to complete. The platform has made the process effortless.
- Instant Funds Transfer: Upon approval of the application, the money will be transferred within seconds.
- Secure Application: the platform assures clients all of their details will remain 100% confidential.
- Outcome in Seconds: the platform’s intelligent technology aims to provide people with a quick decision.
#6. Athena
The Athena platform claims to be a no-fee online Loan platform and lender with a client-first attitude and some of the best rates available. The Athena platform Celebrate Variable Home Loan provides the same outstanding terms to existing and new customers, with zero (0) fees. Furthermore, the automatic rate reduction function means that the more people pay their loans, the lower their interest rate. It’s accessible to new borrowers and refinancers buying capital or major regional cities with a deposit of at least 40 percent (%) or equity.
Features
- AUTOMATIC RATE MATCH: Existing clients score the same special new clients rates on their like-for-like loans.
- ZERO FEES: the platform offers zero Athena fees
- DROP YOUR RATE: The more people pay down their loan, the more the platform lower their rate automatically.
- 100% FEE-FREE OFFSET: The more money people put in their offset or redraw, the less interest they will pay.
#7. Cashify
With the Cashify platform, people can borrow up to $5,000 instantly. The platform claims to meet urgent cash needs if people have an unexpected expense. Whatever they need it for, the Cashify platform is available to help with $2,000–$5,000 Personal Loans transferred instantly into borrowers’ accounts!
Features
- Ideal for household appliances, technology updates, emergency expenses, debt consolidation, travel, car upgrades, and more
- Easy online application
- Flexible repayment options
- Fixed rate 48 percent p.a.
- Loan terms 3 to 12 months
- Instant cash transfers
- Unsecured loan from $2,000 – $5,000
- No hidden charges or fees
Conclusion
Getting loans from banks can be lengthy and exhausting owing to heightened regulations, but personal loan applications have changed the lending ecosystem forever.
Applicants can download the app from Google App stores, and after filling in the basic details, they can immediately generate an OTP and get cash instantly. This process facilitates people who want to escape loans from local moneylenders who might charge heavy interest from applicants.
Most personal loan apps provide a loan for a 1-year duration, and the interest charged by these loan apps differs from case to case. While the loan app provides the minimum and maximum interest rates chargeable for a loan, the interest rate depends on the applicant’s credit score.
FAQS
What is the easiest personal loan to get in Australia?
For easy and quick loans Australia-wide, the MoneyMe platform is highly recommended.
Where can I borrow money online in Australia?
• Moneyspot
• CashnGo
• Athena
• SpotMeNow
What app will let me borrow $200?
The Fundo platform is an Australian-owned short-term loan provider that lets people borrow between $300 – $2000.
What app will let me borrow money instantly?
The Moneyspot platform is one of the best instant loan apps in Australia. The Moneyspot platform provides hassle-free personal loans that are 100 percent (%) online and processed on a 24-7 basis.
Which app gives loans instantly in Australia?
The SpotMeNow platform is an online loan provider whose specialty is providing flexible, fast, and near-instant loans.
What app will give me $50 instantly?
The CashnGo platform is a short-term finance lender delivering fast loans to people who need some extra cash in a hurry.
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