Short Term Loans

Test the market & see what rate you can get today.


Get Started
Short term loans

Need cash quick but know that you can repay it in a short period?



Small to medium loans can be handy when a small amount of funds are required quickly for an emergency or unplanned cost.

Some people prefer a small to medium loan over a credit card as these types of loans have an end repayment date. These loans do come at a cost so borrowers should always understand the fees involved before accepting a contract.

Small to medium loans are loans for (usually) under $5,000 fall into two categories:

- small amount credit contracts (SACCs); and

- medium amount credit contracts (MACCs).

A SACC is up to and including $2000 (plus fees) for up to 1 year. A MACC is from $2001-$5000.

Under a SACC, lenders are only permitted to charge up to 20% establishment fee (unless prohibited) and 4% monthly fee. You can still incur default fees.

Tip:

Learn about your Credit Score and tips that help you to improve it before you apply for a short-term loan. Your credit history, such as making repayments on time has an impact on your Credit Score. Don’t forget to pay your bills on time so you can keep your Credit Score in tact.


Also, find out about your Social Score; as some lenders may choose to consider this score as an indication of your credit worthiness to complement the other sources of information they have about you.

Get Started Now



Disclaimer for all responses: Full Terms and Conditions, fees and charges available when you apply. This is an estimate (not approval or quote) only applying to this product and based on the information provided. Lending criteria apply.

WARNING - Do you really need a loan today? *

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: www.humanservices.gov.au/advancepayments

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

*This statement is an Australian Government requirement
under the National Consumer Credit Protection Act 2009.