60-Minute Loans

Getting a loan is usually a lengthy process. However, some lenders use automated systems to pick up the best candidates and accept them as soon as possible. In this article, we’ll discuss different types of loans that you can get approved for in 60 minutes, as well as the criteria that make you eligible for such loans.

60-Minute Loans – Explained

If you’re in a hurry and need instant cash, you can either apply for a short-term loan, a payday loan, or a secured personal loan. In this section, we’ll be looking at each of these loans in detail so that you can make an informed decision. 

Short-term loans 

cash loans in 60 minutesv

Through our practical knowledge, a short-term loan is one that’s typically repaid in one year or less. Yet, many lenders are flexible enough to offer you 18- or even 24-month repayment plans. 

These fast cash loans are mostly designed for businesses. However, you can still get a short-term personal loan if you have any personal financial emergencies.

Loan Terms: From 6 to 18 months.

Loan Amount: From $300 to $5,000.


  • Quick application process 
  • Eligibility criteria are easy to meet
  • You can still get approved even with bad credit


  • Relatively small amounts 
  • Interest rates vary drastically from one lender to the other

Payday Loans

loans in 60 minutes

As per our expertise, a payday loan is a type of instant cash loans that are more suitable for personal emergencies whenever you’re in urgent need of funds. These loans have to be repaid as soon as you receive your next paycheck, and hence, they’re constructed according to your income.

As long as you’re receiving a regular income, you’ll be eligible for a payday loan even if you have a bad credit history. Lenders don’t even require a credit check for these loans.

Loan Terms: Usually, 14 days.

Loan Amount: From $300 to $1,000.


  • Short repayment plans
  • Doesn’t require a credit check
  • Instance access to funds


  • A small loan
  • High-interest rates

Secured Personal Loans

60 minute loan

As the above types of loans are not attached to collaterals, they’re considered unsecured loans. That type of lending is a bit risky, which explains why creditors give borrowers access to smaller amounts.

Secured loans, on the other hand, are quite different. Borrowers are required to provide an asset that the lender can use as a guarantee that they’ll take their money back regardless of your ability to repay the loan.

In other words, you’ll provide a property to “secure” the instant cash loans. In case you defaulted on multiple payments – as per the terms and conditions of the lender – they’ll take over possession of the attached asset to cover up for the loan amount.

While this is a bit risky for many borrowers, it’s the best way to get access to large loans for many reasons, starting with the low-interest rates and ending with the flexible repayment plans.

Moreover, lenders usually provide a grace period during which you can still make the missing payment without suffering any financial consequences. 

Not to mention, you can always contact your creditor if you’re having trouble with the next payment so that they extend the due date or even shift you to a more flexible payment plan.

Keep in mind that while a 60-minute secured loan will allow you to borrow more money than other options, it’ll still be less than what a standard secured loan may offer. The rule is, because you need the money as soon as possible, the creditor has less time to assess your creditworthiness.

Loan Terms: Less than 10 years, depending on the amount.

Loan Amount: Usually, up to $20,000.



  • You’d lose the asset if you failed to repay the loan
  • Requires a credit check

Eligibility for a 60-Minute Loan in Australia

loan in 60 minutes

Although different creditors have different requirements, to apply for a 60-minute loan in Australia, you must be:

  • 18 years or older
  • An Australian citizen or a permanent resident
  • Receiving regular income for at least three to six months

Last but not least, you should have an active bank account and an active email address that the lender can contact and send you the contract through.


Can I Apply for a 60-Minute Loan if I’m Receiving Centrelink Payments? 

Yes! Luckily, you can still get approved for an instant cash loans no credit check if you’re receiving Centrelink payments. When you’re matched with potential creditors, they’ll assess your current financial situation, then offer you the most suitable loans accordingly.

Can I Get Approved for a 60-Minute Loan if I Have Bad Credit? 

Yes! There are multiple loan options for bad credit. As discussed earlier, a payday loan can be a lifesaving option for someone who’s not approved for other loans because of their credit profile.

Moreover, some lenders rely on your current financial situation to assess your eligibility for a instant cash loans online 24 7 rather than just your credit score.

Final Thoughts

Drawing from our experience, getting cash loans in 60 minutes isn’t impossible! Typically, your approval depends on the lender’s policy rather than the type of loan. Nonetheless, some types of loans are generally approved faster than others because they’re more flexible and have fewer requirements.

That said, there’s a lot to take into consideration, including whether the amount of the loan is enough to cover your needs and whether the repayment plan is flexible enough for you to keep up with the payments without being under substantial hardship.

We just provided you with the necessary information regarding which customer each of the above loans targets, so we trust you’re currently capable of making the right decision.

About the Author

Lucy has over a decade of experience in finance. She is currently the content curator here at Perfect Payday.

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