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.
Are bad credit Centrelink loans actually a thing? Yes, they are! Even if your credit score is not looking so great and you receive Centrelink payments, Pocket Cash may be able to match you with a lender able to offer you the loan you’re after.
How? Some lenders may be able to consider Centrelink payments as regular income, provided it isn’t a temporary payment and has been received for 3 months. Many lenders are also able to look past your credit score to assess if a loan is the right financial product right for you.
Bad credit Centrelink loans are loans that can be applied for by people with bad credit who receive Centrelink payments.
At some point in their life, you may find yourself stuck in a sticky financial situation. For many, getting a loan is the option of choice. However, you may find it a little tricky to find the right lender if you have both bad credit and receive Centrelink payments.
Centrelink is a Department of Human Services program run by the Australian Government to help people who permanently live in Australia through various stages of their life. This government service is accessible online and telephonically so, while you can visit a physical Centrelink branch, you may not have to queue forever to get information. Instead, you can comfortably submit information through the myGov website from home. Visit their website to find out if you are eligible for any of their services.
Centrelink can provide support to you for many reasons:
Your credit score is based on previous financial behaviour. If in the past, you have failed to make repayments on accounts or lines of credit, it will likely show up in your credit score. This number reflects your creditworthiness to many financial services and utility providers and, if you get a bad mark on your report, it can stick around for a few years.
That’s why some lenders consider more factors that affect if you are a risky candidate for a loan or line of credit.
Factors that may impact your credit score:
The short answer is, yes you can. If you are receiving Government benefits, there are lenders that may consider Centrelink payments as a regular income. Pocket Cash can help you find a lender likely be able to offer you a loan if you meet the general requirements. The best part? You won’t have to search and compare lenders, we do all the hard work for you with one easy online application for bad credit Centrelink loans.
The loan options available to you will depend on your personal and financial circumstances. However, there are a few different options available in general.
All lenders will have their individual requirements. However, if you are looking for a loan, most lenders will require you to
Ready to apply? It won’t take much of your time and you will know if we can find you a lender almost instantly – that’s if you apply during our business hours, you may get your outcome within a few minutes.)
Applying with Pocket Cash won’t take you long. In fact, most people finish their application within a few minutes. If you feel impatient, you can apply even faster if you have the correct documents handy already.
It’s fast, it’s easy – and you will get a fast outcome. If you apply during your business hours, you will know if we can match you with a lender within a few minutes. You send in one application and we search our pool of lenders for the best options.
No queues, no boring paperwork. Our application is fully online. We will ask you a few questions about your financial situation and you are good to go. You can start the application by scrolling to the top of this page. Choose from our loan calculator how much you would like to borrow and how long you would like to repay. Once you’re happy, click ‘Apply Now’ and we will take you through the next steps.
After submitting your application, you can lean back and relax. Our team will get working and find you a lender that can offer you a loan. If you apply during our business hours, you may have a match within just a few minutes. Once we find a lender that we think will be able to offer you a loan, they will get in touch with you directly.
Shortly after, your new lender will be in touch as well. They will assess your application and possibly require a few additional documents. Many lenders offer quick and easy application with an outcome within 60 minutes, therefore, you should know your final result soon after.
We work with a panel of lenders. We know exactly what they are looking for and that’s why we only need a few pieces of information from you before we can refer you to a lender. It won’t take long. In most cases, where we can find you a suitable lender the process is completed within just a few minutes. We can’t promise we will find you a lender though but we will do our best to match you with a suitable option.
In most cases, it is entirely up to you what you do with your personal loan (if not otherwise specified in your loan terms and conditions).
Sometimes, life doesn’t go to plan. If your personal finances don’t seem to work out at all this month, you can use a personal loan to make your usual payments and then comfortably repay it over time.
Unexpected bills often come to the most inconvenient times. However, a loan can help you deal with an issue as soon as it arises. Having cash flow available to you whenever you need it can be extremely valuable.
The fridge never breaks at a convenient time. If anything in your house needs fixing, it’s often urgent and you may require a little extra boost in cash flow to make it happen. That’s what a loan could do for you.
Getting married can be costly. However, you don’t want to compromise on the happiest day of your life, do you? Therefore, a loan can make sure that you don’t have to wait any longer to finally ask the love of your life.
Travelling is expensive but there is no price for memories. If you’ve been dreaming of going travelling but couldn’t save enough to make a trip happen, a little extra cash can do the trick.
Pocket Cash is your pocket pal. Gone are the days of searching for the right lender for hours. We do all the hard work for you within minutes.
We find the right lender for you. The application online takes a few minutes and we will get back to you with a match as soon as possible. (If you apply during AEST business hours, you may have a suitable lender ready within a few minutes.)
Pocket Cash won’t charge you anything for our services. Finding you bad credit Centrelink loans shouldn’t be expensive. We are completely free of charge. We can’t promise that we will match you with a lender but we will do our best to find the right fit.
Gone are the days of queuing to speak to someone about a loan. Our application is 100% and can be done from anywhere at any time. You will get the fastest outcome if you apply during our business hours but otherwise, we will get back to you as soon as possible. And the best thing? You won’t have to compare deals, we automatically select the best fit for you.
Let’s get started!
If you are ready to apply, head to the top of this page, choose your loan amount from the loan calculator and select your loan term. Once everything looks good, hit ‘Apply Now’ and get started! If you have any open questions regarding bad credit Centrelink loans, get in touch with our customer service team and ask away!