How It Works

To apply you don’t need any paper work. You just need to fill out the application form and meet the basic requirements, which are:

• Must be at least 18 years of age
• An Australian citizen or permanent resident
• Receive regular income over the past 90 days (your Centrelink payments)

We accept all Centrelink payments. You need to provide evidence that you receive a regular income so that we know you will able to repay your loan over a period between 12 – 24 months. The evidence is in the form of a CENTRELINK INCOME STATEMENT which you will upload during your application.

With loans for people who receive Centrelink, the amount you can borrow is anywhere between $300 and $10,000. Though it’s important that you only borrow an amount that you can safely afford to repay.

Nevertheless, as responsible lenders we will only lend you to you an appropriate amount based on financial assessment of your individual situation.

The amount it costs to borrow loans for people on Centrelink depends on the amount. For instance:

• For loans between $300 and $2,000, it will cost an establishment fee of 20% the total loan amount plus, additional fees of 4% per month.
• For amounts between $2,001 and $4,600, it will cost an establishment fee of $400 plus an Annual percentage rate of 48%.
• For amounts between $5,000 and $10,000, it will cost an annual percentage rate of 21.24%.

The fees are added to the loan amount and then divided by the loan term. This is how much you will repay per money.

Repayments work by repaying the loan amount plus the fees. It is usually done by setting up a direct debit so that the payments come out of your account automatically.

Repayments for your loan can be set up to come out of your account on a weekly, fortnightly or monthly basis, depending on what suits you best. The repayments are made until the total loan amount is repaid.

If you are unable to make a payment on your loan it’s important not to ignore it. This is because you could get charged, expensive penalty fee of $35 for missing a payment.

Instead, let us know at least 24 hours in advance and we can help to arrange an alternative for you.

Loans for people on Centrelink can be useful for a variety of reasons. Though, often they usually come in handy when you need to pay for something unexpected. Here are some examples of when you could use a loan for:

• Pay for multiple bills
• A necessary household item breaks down, such as a washing machine or fridge
• You need to pay for an urgent medical or dental bill
• Your car needs a repair so that you can drive it again
• Pay for school fees or child care fees that are due urgently

These are terms that people search for in order to utilise lending services such as ours.