24 7 Loans For Unemployed | Are They A Real Thing?

Empty pockets?
No worries!

Empty pockets? No worries! Empty pockets? No worries!

$2,500

$300 $10,000

18 Months

13 Months 24 Months

Estimated repayments

$52.19

$104.71

$228.77

Am I suitable for a loan?

The Interest Rate for Secured Medium Loans is 48%. Maximum Comparison Rate is 67.41% p.a.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan.

24 7 Loans For Unemployed – Do They Exist?

24 7 Loans For Unemployed – Do They Exist?

Have you been googling ‘24 7 loans for unemployed’? Are you wondering whether or not you can get a loan whilst unemployed? Pocket Cash has done the research for you. We’ve looked at the best options on the market when it comes to loans for people who are unemployed. Pocket Cash is helping local Aussies get the best possible personal loan for the individual financial circumstances. Keep reading for more information.

What Are 24 7 Loans For Unemployed?

Are you wondering what we mean by the phrase 24 7 loans for unemployed? Let the Pocket Cash team make it simple. 24 7 loans for unemployed are simply loans for people who need cash right now and do not have a job. In terms of traditional lending, a bank usually will not approve a loan for an individual who is unemployed. If you’ve been googling ‘loans for unemployed’ or ‘fast cash loans for unemployed’ then you probably know how many lenders there are promising to approve all sorts of different loans. The Pocket Cash team urge borrowers to proceed with caution when it comes to these types of lenders. If something seems too good to be true it probably is.

No Interest Loans Scheme

The Australian No Interest Loans Scheme or NILS is a great option for individuals who are unemployed and seeking cash. NILS is a safe alternative to seeking finance from an online lender that promises to approve instant loans for unemployed individuals. More often than not, these lenders are predatory and take advantage of applicants experiencing financial hardship. If you do decide to apply with one of these lenders the Pocket Cash team recommends you do your research first.

How Does The No Interest Loans Scheme Work?

NILS is not your traditional loan. Wondering how it works? Basically, NILS works through a process called ‘circular community credit’. What is circular community credit? Basically, when a borrower makes a repayment on their No Interest Loan the funds then become available to someone else. As the name states, NILS does not incur any interest.

What Could I Use A No Interest Loan For?

NILS is available for the purchase of essential goods and services. Including things like:

  • Household items – fridges, washing machines, stoves, dryers, freezers and furniture;
  • Some medical and dental services;
  • Education essentials like computers and textbooks;
  • Other items may be purchased upon request.

What Can’t I Pay For With A No Interest Loan?

There are a number of different expenses that can not be purchased with a No Interest Loan:

  • Rent;
  • Bills;
  • Cash purposes.

Who Qualifies For A No Interest Loan?

In order to qualify for a NILS, you must meet a certain set of criteria. All applicants must:

Have a health care card/pension card or earn less than $45,000 per year after tax;
Applicants must have lived in their current premises for more than 3 years;
NILS applicants must be able to show willingness and capacity to repay the loan.

How Can I Apply For A NILS?

If a No Interest Loan sounds like something you might be interested in then here’s how you go about applying:

  • Enquire – Enquire about a loan today or get in touch with the team on 13 NILS;
  • Interview – You’ll need to bring all your documentation to an interview with a local NILS loan provider;
  • Assessment – Your loan application will be assessed by a provider;
  • Outcome – You will be informed of the outcome of your application and repayment terms.

Pocket Cash: Who Are We

Pocket Cash is revolutionising the lender finding game. We’re making it easier than ever for local Aussies to get a fair go at a personal loan. We understand that sometimes everyone needs a leg up. That’s why we do our best to match our applicants with the best lender for their individual financial situation. Our application process is 100% online. That means you can apply wherever you are and whenever you like. All you need is an internet connection and a device – you could even apply from your smartphone.

Pocket Cash partners with responsible lenders. That means we do not provide loans for unemployed, bad credit little loans for unemployed or 24 7 instant cash loans for bad credit. Our partner lenders do not work 24 7 and therefore can not provide 24 7 loans. You are more than welcome to submit an application 24 7, however, you will not receive an outcome until the next business day. If you choose to apply during AEST business hours, however, you could have an outcome from our team in as little as 60 minutes.

Can I Get A 24 7 Loans For Unemployed From Pocket Cash?

Pocket Cash does not match applicants with lenders who provide 24 7 loans for unemployed. We are proud to partner with the best of the best in the lending game. Our partner lenders are responsible meaning they adhere strictly to the code of responsible lending. One of Pocket Cash’s possible lenders will never lend cash to an applicant who does not have the means to repay the loan comfortably. We recommend applicants who are unemployed look to the No Interest Loans Scheme for the cash they need.

Does Pocket Cash Provide Instant Cash?

At Pocket Cash, we do not claim to provide instant loans for unemployed. In general, the Pocket Cash team does not match borrowers with lenders who provide instant loans. Pocket Cash is a lender finder, we can not speak for the speed at which our lending partners provide personal loans. Although we can not provide instant loans, at Pocket Cash we’ll do our best to get back to you with an outcome in 60 minutes when you apply during AEST business hours. If your possible lender supports instant banking you could have the cash in 60 seconds once approved.

What If I Have Bad Credit?

At Pocket Cash, we do not claim to match applicants with lenders who provide 24 7 instant cash loans for bad credit. Our partner lenders do not provide 24 7 service – they do have to sleep! The good news is our lenders do take a fresh approach to poor credit. A possible lender will take a realistic look at your financial situation. Factors such as income, spending habits and existing financial commitments are all taken into consideration during the loan assessment process.

So, if a poor credit score has stopped you from submitting an application for a personal loan in the past, our team encourages you to go ahead and apply. The application itself is completely free of charge and our team will do their best to get back to you in 60 minutes (if you apply in AEST business hours). So, don’t waste another minute. Scroll up and submit an application now.

Responsible Lending

Pocket Cash is proud to partner with responsible lenders. What does that mean? Essentially, we only partner with lenders who do the right thing by their borrowers. Unfortunately, the world of online lending can attract predatory lenders who take advantage of vulnerable borrowers. Pocket Cash does not partner with any of these lenders. When you apply for a personal loan with our team you can rest easy in the knowledge that we will only ever partner you with the best in the business. You won’t have to worry about hidden fees or charges. Everything will be made clear in your agreement. There are no nasty surprises. In order to be considered a responsible lender, all online lenders must comply with the following:

They must make reasonable inquiries into consumers requirements and objectives for a loan;
Responsible lenders must make reasonable enquiry into a consumer’s current financial circumstances;
They must take reasonable steps to verify the consumer’s financial situation;
All responsible lenders must assess whether a consumer will be able to meet their obligation under a proposed credit contract without ‘substantial hardship’.

Who Can Apply With Pocket Cash?

If you’re in the market for a personal loan then Pocket Cash could be the lender finder you’ve been searching for. We like to make it as easy as possible for Aussies to access fair and reasonable personal loans. If you’re wondering who can apply, then you’ll be happy to know we keep it simple. Here are our application criteria:

  • Applicants must have an active mobile phone number and email address;
  • You must have internet banking set up;
  • All applicants must be over the age of 18;
  • You have had a regular income for the last 3-months into a personal bank account;
  • You must be able to prove you’re an Australian citizen or permanent resident.

What Documents Will I Need To Provide?

As we mentioned, Pocket Cash likes to keep the application process as simple as possible. We will, however, need to pass on a few important details to our lending partners. Our application form could only take you a few minutes to complete. Here’s what we recommend you have handy:

  • Your basic personal details (name, D.O.B etc);
  • Internet Banking Details (so we can securely access read-only copies of your bank statements);
  • You will need to provide us with the reason you are applying for a loan;
  • Your MyGov details (if you receive Centrelink or Government benefits);
  • Employment details and contact info of your workplace (we may need to get in contact in order to verify your employment status);
  • All applicants must be able to prove they are either Australian citizens or permanent residents.

Will My Lender Do An Employment Check?

Yes, in most cases a possible lender will conduct an employment check. This is to verify some important details and is routine during the loan assessment process. Our lending partners are nothing short of professional. Your privacy is always top priority. You can rest easy in the knowledge that none of your personal information will ever be disclosed to an employer, including the reason why you are applying for a personal loan. If you want to know more about employment checks we recommend you get in touch with your employer.

Get Started

If you’re ready to get going with an application for a personal loan we’re pleased to let you know it’s super easy. Submitting an application with Pocket Cash could only take a few minutes. Here’s what you’ll need to do:

Apply Online

Use the loan calculator at the top of the page to select a loan amount and repayment period.

Fill Out The Form

Fill out our 100% online application form. This could only take a few minutes to complete. When you’re finished just sit back and relax. The Pocket Cash team will do the hard work for you.

We Find You A Lender

Our team will submit your application to a variety of different lenders and look for the best deal. If we’re successful we’ll let you know. If we haven’t been able to locate a compatible lender we’ll be honest. The Pocket Cash team will not waste your time.

Sign Your Contract

Your new lender will send over a contract for you to review and sign. We encourage all applicants to read through their agreement carefully and make themselves aware of the terms and conditions. Once you have done so just sign and send it back to your lender.

Get Your Cash!

Once your lender receives your signed contract the cash will be transferred straight into your account. Instant banking means the cash could be in your account in 60 seconds once approved. If your lender or bank does not support instant transfers, however, the money will hit your account in the next round of banking.

24 7 Loans For Unemployed

Why choose Pocket Cash?