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Loans For People On Centrelink – Everything You Need To Know

Loans For People On Centrelink – Everything You Need To Know

Empty pockets and receiving Centrelink benefits? Don’t worry! You may still be able to get cash loans and get back on track. You’ll need to find the right money lender – finding loans for people on Centrelink is our speciality.

After you have applied with Pocket Cash, we will get to work trying to find you a suitable lender that can provide you with the type of personal loan you need. Yep, this can include bad credit loans, fast cash loans and instant loans, to name a few.

Remember, Centrelink is a department of Human Services master program of the Australian Government that offers services and payments to the students, carers, unemployed, veterans, and people from different cultural backgrounds.

Whether it’s the payment of medical fees, home repair, education fees, or other bills, Pocket Cash can help you find a lender that is suitable for your financial needs, fast. Here is a quick guide for the people on Centrelink planning to apply for a loan.

Can People on Centrelink Get Loans?

Loans for people on Centrelink are usually available up to $10,000 with lenders. However, you may be able to get loans called Cash Advances on Centrelink through The Department of Human Services, for which you’d need to be eligible.

It is possible to get a personal loan when you receive Centrelink payments. If you’re after a lender who can help you find a loan, head over to our application form and fill in a few details. We’ll get started with the hunt for a lender who we think will be able to say ‘yes’!

Lenders will usually assess your earnings, check your credit score and credit history and confirm your employment as a part of their loan approval process to confirm your suitability. Some lenders may be able to offer you cash loans for bad credit if you meet the criteria, and feel that you would be able to reasonably make your regular payments in a timely manner. It means your eligibility for personal loans wholly depends on your situation.

Since each applicant is unique, it’s incredibly hard to say who would be approved without knowing all the details. Therefore, we suggest applying and letting us see if we can help. Remember, there might be a chance that you get rejected due to your income source. Loans for people on Centrelink may be available, if you can show a history of consistent payments into your bank account.

Can an Unemployed Person Get a Loan?

Although it’s possible to get a loan if you’re unemployed, you might find yourself facing a high-interest rate. Before approving your loan application, the lender typically checks if you can afford to repay the amount. Remember, even if you receive 50% of your income from Centrelink, the lender might cancel your application for a speedy loan.

Also, there are only specialist lenders that offer loans for people on Centrelink that are unemployed. Therefore, it’s best to do in-depth research about whether they lend money to Centrelink members or not. Alternatively, you can apply with Pocket Cash and let us do the searching for you!

What is a Centrelink Advance Payment?

The Department of Human Services recommends that people depending on the payment type they receive and planning to borrow first see if they qualify for a Centrelink advance payment. You can find out more, here.

Remember, a Centrelink advance differs depending on the type of benefit you receive. Also, you can get only one advance payment in twelve months. Repayment is required within six months. It gets subtracted from your Centrelink payments or other Department of Human Services payments over that period.

Pros of an Advance Payment:

  • No interest
  • Fast access online
  • Use for future benefits
  • Cost-effective payments

Who is eligible for Centrelink cash advance payments?

You need to meet the criteria to qualify for advance payment on Centrelink. For example, if you owe money, you may not be eligible. Also, you need to show that you can repay the advance payment and still have a sufficient amount to meet your everyday expenditure.

You may be eligible if you are getting the following payments:

  • Age pension
  • Wife pension
  • Parenting payment (* both single and partnered)
  • Widow B pension
  • Austudy payment
  • Widow allowance
  • Carer payment
  • Youth allowance
  • Farm household allowance
  • Disability support pension
  • Newstart allowance

You can apply for a Centrelink advance payment by visiting the website or by calling on number 136240.

What are Loans for People on Centrelink?

Credit unions and banks are not only the options when trying to borrow money if you are on Centrelink. There are other loan options that you can consider when unexpected expenses pop up. One of the excellent options is finding the best lender in your area. You can apply for almost every type of personal loan at Pocket Cash. We can help you find:

1. Fast Cash Loans

Need money in a hurry? Pocket Cash could be the ultimate solution. We offer lender-finding services that can provide you speedy cash loans efficiently. If we don’t think we can find you a lender, we’ll let you know, fast, and we don’t charge any fees.

2. Car Repair Loans

Need a loan to get your car repaired? Well, it may also be possible for you to get a loan for your car repairs or registration if you are on Centrelink.

3. Bad Credit loans

Have bad credit? Do not worry! Pocket Cash may have a solution for you. We can help you find a lender that offers loans for people on Centrelink with bad credit.

4. Payday Loans

If you are getting Centrelink benefits or have bad credit, then you can also apply for short term payday loans. We’ll do our best to find payday lenders who accept Centrelink payments. Remember, in line with the Australian Securities and Investments Commission (ASIC) MoneySmart website, if you get half of your income from Centrelink, your total repayments for SACC loans may not exceed 20 percent of your income. That means you may not meet the criteria for getting a loan if you already have a Payday loan.

As you know, these types of loans are typically taken out over a short period and can be costly. For an example of what your loan repayments might be, take a look at our short term loan calculator at the top of this page.

5. Emergency Loan

When unexpected emergencies crop up, you can apply for the urgent loan on Pocket Cash. Thus, whether you need to clear out your medical bills or electricity monthly bill, you may be able to pay them with ease.

Start the Loan Application Process Today

Picking a lender that offers loans for people on Centrelink might be tough. If you require some fast cash cash but want to stay safe, then it’s a good idea to choose a reliable provider. Start the application process today and let Pocket Cash help you find a lender.

Need a loan? Pocket Cash can find lenders for you!

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