Need cash fast in Australia? Short-term loans in 2025 offer quick access to funds for emergencies like rent, medical bills, or car repairs. Here’s a breakdown of the best options:
- One Hour Loans: Borrow $300–$10,000 with fast 60-minute approvals. Fees and rates vary by loan size, starting at 20% establishment fees and 4% monthly rates for small loans.
- MoneySpot: Simple application process with flexible repayment plans and transparent fees.
- Credit24: Loans from $500–$5,000, with same-day approvals and a revolving credit option for added flexibility.
Quick Comparison
| Provider | Loan Range | Approval Time | Key Features |
|---|---|---|---|
| One Hour Loans | $300–$10,000 | 60 minutes | Fixed terms, flexible repayment |
| MoneySpot | Varies | Same day (business hours) | Online management, upfront fees |
| Credit24 | $500–$5,000 | Same day | Revolving credit, interest on usage |
Key Tips:
- Check fees and interest rates carefully.
- Ensure the loan fits your repayment capacity.
- Have required documents ready for faster processing.
Short-term loans can be a lifesaver, but borrow responsibly to avoid financial strain.
How to Choose a Personal Loan (and what to avoid)
1. One Hour Loans
One Hour Loans offers a quick and straightforward lending solution in Australia, catering to various financial needs with its user-friendly digital platform. The service provides three loan options tailored to different borrowing requirements:
| Loan Type | Amount Range | Term Length | Key Fees & Rates |
|---|---|---|---|
| Small | $300 – $2,000 | 12 months | 20% establishment fee, 4% monthly rate |
| Medium | $2,100 – $4,900 | 13–24 months | $400 establishment fee, 48% APR |
| Large | $5,000 – $10,000 | 13–48 months | 21.24% APR, no establishment fee |
One of the standout features is its fast application process, designed to save time and reduce stress.
To qualify, borrowers must meet these basic criteria:
- Be at least 18 years old
- Have a steady income for at least three months (from employment or benefits)
- Be an Australian citizen or resident
- Have no more than two cash loan commitments in the last 90 days
Once approved, funds are transferred within 60 minutes, making this an excellent option for urgent situations.
Applicants need to provide the following documents:
- A government-issued photo ID
- A recent utility or phone bill
- The latest payslip or a Centrelink statement
- Three months of bank statements
- Medicare card
The platform evaluates applications based on income stability, existing loan commitments, and loan history, alongside credit scores. To speed up the process, ensure all documents are up-to-date and in digital format.
Loan terms are straightforward, with fixed repayment schedules that help borrowers plan their budgets and stay on track with repayments.
2. Provider 2
After One Hour Loans, MoneySpot stands out as another quick, online-focused option. This short-term loan provider in Australia offers a straightforward platform for borrowing, making it easier to apply and get decisions during regular business hours.
To apply, you’ll need to provide proof of identity and income. MoneySpot reviews applications carefully to ensure borrowers can afford the loan. They’re upfront about fees and provide assistance for those facing financial challenges.
MoneySpot also allows borrowers to manage loans securely online, offers flexible repayment plans, and ensures fast access to funds for a hassle-free experience.
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3. Provider 3
Credit24 wraps up our review with its tailored approach to short-term lending in Australia. This provider focuses on offering credit solutions designed to meet a variety of borrowing needs.
| Feature | Details |
|---|---|
| Loan Range | AU$500 – AU$5,000 |
| Term Length | 3-12 months |
| Interest Rate | From 19.99% p.a. |
| Setup Fee | AU$195 (for loans under AU$2,000) |
| Processing Time | Same-day approval* |
*Approval applies during business hours for fully completed applications.
To qualify, borrowers must meet the following criteria:
- Be at least 21 years old
- Have a steady income for at least six months
- Hold Australian permanent residency
- Maintain an active bank account
- Possess a solid credit history
One of Credit24’s standout features is its revolving credit facility. This option allows borrowers to:
- Withdraw funds when needed
- Pay interest only on the amount used
- Access additional credit without reapplying
- Manage repayments conveniently online
To apply, you’ll need:
- Digital ID verification
- Recent payslips
- Bank statements from the last 90 days
- Up-to-date contact information
Credit24 uses an automated system to assess applications, often delivering decisions within hours. Once approved, funds are typically transferred by the next business day.
With Credit24’s offerings completing the review, we’ll next explore how these providers stack up in a feature comparison.
Features Comparison
One Hour Loans makes it easy to compare its three loan types with a clear tiered structure. Here’s a quick overview of the main features:
| Feature | Small Loans | Medium Loans | Large Loans |
|---|---|---|---|
| Loan Range | $300 – $2,000 | $2,100 – $4,900 | $5,000 – $10,000 |
| Term Length | 12 months | 13–24 months | 13–24 months |
| Establishment Fee | 20% of the loan amount | $400 flat fee | No establishment fee |
| Interest Rate | 4% monthly | 48% APR | 21.24% APR |
| Processing Time | 60 minutes | 60 minutes | 60 minutes |
| Early Repayment | Available | Available | Available |
| Repayment Frequency | Flexible | Flexible | Flexible |
With its straightforward fee structure and quick approval process, One Hour Loans provides options that cater to different borrowing needs. Each loan type offers competitive terms and the flexibility to repay early, giving borrowers the freedom to pick what works best for them.
Summary and Recommendations
One Hour Loans provides a variety of lending options designed to address different financial needs. Based on our analysis, here are tailored recommendations:
Emergency Expenses ($300–$2,000): Small Loans offer quick access to cash with a repayment term of 12 months. These loans include a 20% establishment fee and a 4% monthly rate, making them a practical choice for urgent financial needs.
Medium-Term Goals ($2,100–$4,900): Medium Loans are available with repayment terms ranging from 13 to 24 months. A flat $400 establishment fee makes this option appealing for those needing a higher borrowing limit without excessive upfront costs.
Larger Financial Needs ($5,000–$10,000): Large Loans come with a 21.24% APR and no establishment fee. Extended repayment periods help ensure monthly payments remain manageable.
These loan categories highlight how One Hour Loans adapts their offerings to suit a range of financial situations.
Key Considerations When Choosing a Loan:
- Repayment Capacity: Choose loan amounts and terms that fit your income and budget. Flexible payment schedules can align with your pay cycle.
- Total Cost: Review the APR and any associated fees to find the most cost-effective option for your needs.
- Processing Speed: With a 60-minute approval process across all loan types, funds are accessible quickly when you need them most.
This summary reflects market trends and One Hour Loans’ dedication to providing fast and reliable financial solutions.
"Same day cash loans are, of course, the most viable option for Australians to meet their emergency needs. The loans are offered with no questions asked, and you can use the loan amount wherever they deem to fit without approval from the lender."
- One Hour Loans
