Minimum Requirements

There are minimum requirements that must be met before you approved for an instant payday loan.

Each lenders questions may differ slightly but typically their minimum requirements are:

Must be a resident of Australia

Must have regular income

Have a work history with the same company 3 to 6 months

Must be over the age of 18 years

Have been at same address for over 6 months

Are not already or preparing to go bankrupt

Have not recently taken a instant payday loan over the past month

Does not have any dept agreements with other instant payday lenders

Must make over a certain amount per month e.g. ($1000 to $1500)

Have your current working email address

If you are looking to borrow over $1500 the lender may ask for security in the form of assets (e.g. car, computers)

As I said earlier not all of these minimum requirements are for all lenders, some lenders have only a couple of these requirements, but as a rule the more you borrow the more the requirements.

Many lenders will encourage you to apply if you have had credit problems in the past or even a default which is good as sometimes we can make mistakes when we are younger.

Many instant payday loan lenders will not do a credit check on you and only need to do an income test to see if you are eligible .