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How to find Centrelink approved loans
Personal Loans up to $10,000
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When your car breaks down or a big event is coming up, Centrelink payments often don’t give you much leverage. A small personal loan might be a good short-term solution for financial struggles. However, it’s hard to find lenders that offer Centrelink approved loans sometimes. Luckily, Jacaranda Finance is different.
We believe receiving government benefits shouldn’t exclude you from access to personal finance when you need it the most. As a result, we could treat your Centrelink payments as an alternative form of income. So, if you fulfil our other requirements, we highly encourage you to apply for a loan with Jacaranda.
What are Centrelink approved loans?
At Jacaranda, we offer fast cash loans for people on Centrelink. We know anyone can get into a sticky financial situation and a personal loan can be the helping hand you may need. So, we offer personal loans for anyone who is receiving Centrelink payments. Our application process is completely online and you could even get an outcome in as little as 60 minutes (if you apply during our office hours).
However, you might want to check first if you are eligible for any of the top-up options offered by the Department of Human Services. We highly encourage you to look into your other options before applying for a loan as missed payments may lead to additional fees and charges that will be added to your repayments.
Are there Centrelink approved loan options?
Yes, we can offer you a personal loan if you fulfil our other requirements. A personal loan may be a good solution to bridge any financial shortages for you. However, there are multiple options for people who receive Centrelink payments and need additional access to personal finances.
If you find yourself in a difficult financial situation, we recommend that you get in touch with a free financial counsellor first before you consider taking on a loan.
Centrelink Advance Payments
As an existing Centrelink customer, you may be eligible for a Centrelink advance payment. If this applies to you is depending on which benefits you are receiving. An advance on your Centrelink benefits is interest-free and will be repaid out of your future Centrelink payments. You can find out if you are eligible through The Department of Human Services website.
A personal loan at Jacaranda ranges from $300 to $10,000. They can be repaid over a longer period of time so you get more time to breathe freely. That’s why they may be a great option if you feel financially stuck and just need some time to get back on track.
Why is it so hard to get a loan approved on Centrelink?
Some lenders seem to think receiving Government benefits is a statement about your financial capabilities and therefore, won’t provide Centrelink approved loans. But getting approved for a loan when receiving Centrelink payments doesn’t have to be complicated. At Jacaranda, we know that there is a unique story behind every single application and every one of them deserves to be heard.
Getting a personal loan with Jacaranda is easy! We promise, the application process won’t take much time: Simply fill in your details, hit submit and you could get your outcome within 60 minutes.
Why Jacaranda Finance?
If you receive Centrelink payments, chances are that you spent a fair bit of time with bureaucracy already and you are sick and tired of boring paperwork. Luckily, so are we! Our fast cash loan application is completely online. You won’t have to leave the comfort of your home and can apply at any time of the day. And it’s completely digital, all you have to do is fill in your details and wait.
At Jacaranda, we won’t just treat you like a number. We care about every single application. Everyone makes mistakes, that’s why we also give loans to people with bad credit rating. We will perform a credit check but it’s not the only thing we look at. We are much more interested in your current spending habits and if a loan is affordable and suitable for your personal situation.
Who are Centrelink approved loans for?
You may receive Government benefits for various reasons. Fortunately, we offer personal loans for a wide range of people and circumstances. We encourage you to apply for a loan with us if you:
- Are a pensioner and need a little bit of extra cash to provide short-term relief for financial stress;
- Receive parent aid and have a big bill to pay;
- Are a Centrelink family and unexpected payments eat up your budget;
- Receive payments for disability and need a financial booster;
- Or any similar reason.
We give every Australian a fair chance to apply for a loan, no matter what their circumstances are. And because time can be a pressing matter when finances are tight, we offer same-day-approval loans for people on Centrelink.
Am I eligible for a loan?
At Jacaranda, we make personal loans as accessible as possible. That’s why you only have to tick a few boxes to be able to apply:
- Are you an Australian citizen or permanent resident?
- Are you 18 years or older?
- Do you have a set up an online banking account?
- Did you receive regular payments (through a job or Centrelink) to your account for the last 3 months?
- Do you have an active mobile number and email address?
If you said yes to all the questions above, what are you waiting for? You are definitely eligible to apply for a loan with us and could receive your outcome within 60 minutes (if you apply during operating hours).
What personal loans does Jacaranda offer?
At Jacaranda, we offer small, medium and large personal loans that range from $300 to $10,000. While it’s important to think about how much money you need to borrow, it’s equally as important to consider how much you can afford to repay. We won’t lend you money if we think you won’t be able to repay it, however, we highly encourage you to give a thought to how borrowing money and repayments might affect your budget.
Small Personal Loans
Small personal loans at Jacaranda range from $300 to $2,500 and can be repaid over a period of 12 months. They are unsecured and in most cases a good option if you just need additional funds to work through financial hardship.
Medium Personal Loans
Our medium personal loans range between $2,000 and $4,600. The repayment period varies between 13 and 24 months, depending on amount and payment rates. Any personal loan over $2,000 will be a secured loan. That means collateral such as a car, caravan, motorbike or boat must be attached to them.
Large Personal Loans
Our large personal loans range from $5,000 to $10,000 and can be repaid over 13 to 24 months. Like medium personal loans, it is necessary to provide security against our large loans.
This table sums up the loans we provide:
||$300 to $2,000
||13 to 24 months
||$2,000 to $4,600
||13 to 24 months
||$5,000 to $10,000
||13 to 24 months
If you want to know more details about our personal loans, head over to our costs page or get a feeling for repayment rates and durations by playing around with the loan calculator at the top of the page.
What do you need to apply for a personal loan?
If you are ready to apply for our Centrelink approved loans you might be able to save yourself even more time by having this information handy:
- Your basic personal details (name, address, D.O.B etc);
- Internet Banking Details;
- 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);
- Otherwise employment details and contact info of your workplace (we may need to get in contact in order to verify your employment status).
So, how to apply for Centrelink approved loans?
Our application process is fast and easy. We won’t let you wait for long, we promise. If you apply within our business hours, you will receive your outcome within 60 minutes. Otherwise, you might have to wait until the next day but it won’t be long.
Step one: Application form
Our online application has a simple structure and won’t take you long to fill in. We will only ask for the required information, no hassle. Most people hit submit within only a few minutes.
Step two: Assessment
Once applied, you can lean back: We use the latest and best safe banking technology to assess your current financial situation. Our experienced team will take a look at your case from every side. We make sure that our loan is suitable and affordable for you. If we don’t require any additional documents, we will aim to get you an outcome within 60 minutes (if you apply within our business hours).
Step three: Cash in hand
Some customers receive their outcome in 60 minutes, but in some circumstances, you have to wait a little longer. Once you receive our approval, we need you to sign the loan contract. After receiving your documents, we will transfer your funds as soon as possible!
Responsible lending practice
At Jacaranda, we practice responsible lending. What does that mean? We check your financial situation beforehand and won’t lend you a loan if we think you won’t be able to afford to repay it. Some lenders don’t care and leave you with high fees for missed payments, not with us. Also, we make sure that all costs and fees are clearly stated in the loan contract, no hidden charges or extra fees.
I have bad credit, can I still apply for Centrelink approved loans?
Yes, you can. However, we will perform a credit check as it is part of our responsible lending practice. But we can promise you, it’s not the only thing we look at. Your current spending habits are much more important than previous mistakes. So if you meet the other criteria, we highly encourage you to still apply, you may still be able to get a loan with Jacaranda.
How can I talk to someone at Jacaranda?
We promise, our application process is mostly self-explanatory and shouldn’t take you long. However, if you need assistance or have any further questions about Centrelink approved loans and your eligibility, you can send us a message at any time or call our friendly customer service during business hours.
Our business hours are:
Monday to Thursday: 8 am – 6 pm
Friday: 8 am – 4 pm
Saturday: 8 am-12 pm
Can I apply right now?
For sure! That’s why we like online applications. You can apply at any time from anywhere without having to wait in line for hours. If you have any further questions, drop us a message but if not, what are you waiting for? A personal loan may be a quick way to improve your financial situation short-term and we would love to have you as a part of the Jacaranda family.
Discover your eligibility for Centrelink approved loans today!
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