Instant Cash Loans: No Credit Check, Unemployed

Perhaps you’ve found yourself drowning in debt and fees keep accumulating, further aggravating the problem, or you have an emergency that requires procuring a significant sum of money that you don’t have saved up.

This can lead you to consider instant cash loans without credit checks, but if you’re between jobs, you may feel that this severely limits your options. However, don’t despair, as we believe that despite your credit score, you still deserve a chance, so we’re going to walk you through instant cash loans, no credit check, unemployed.

What Are Instant Cash Loans, No Credit Check, Unemployed?

These loans are available to those looking for employment, and they don’t necessarily require a credit check. As is the case with other no credit check loans, loan providers evaluate your application based on your current financial status, such as your income, and banking history, not your credit history.

However, these aren’t just any loans without a credit check. They’re instant cash loan no credit check no brokers, and although no loan is instant per se, some lenders will speed up the application process so that they’re almost instant loans. Generally, that can take several hours to a day.

What Are Instant Cash Loans Used For?

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There isn’t much of a restriction as to the use of instant cash loans in 60 minutes, so you can use them to pay for:

  • Debts
  • Car repairs
  • Home improvement
  • Wedding expenses
  • Car registration
  • Dental Bills
  • Whitegoods, such as fridges
  • Education costs, such as university tuitions

Is It Possible to Get Instant Cash Loans, No Credit Check, Unemployed, Australia?

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Needless to say, emergency cash loans 247 Australia aren’t guaranteed if you’re unemployed. They’re challenging to get but not impossible either. Banks aren’t an option because you’d need to have a job to be eligible for a loan application.

Of course, there’s the option of lenders. You’d need to have an alternative source of income, though, which can be derived from government benefits plans or income-generating assets, such as self-employment, dividends earned on shareholdings, Centrelink income, and such sources.

If you’re indeed on Centrelink support, you may be asked to provide evidence that your Centrelink income can comfortably cover your repayments; some lenders consider a three-month Centrelink payment as income.

Tip: You have better chances of getting a short term personal loan than other types because its eligibility criteria are much more forgiving. Also, be wary of lenders who are almost guaranteed to grant easy, no job, no credit check loans, as they may charge very high fees in the long run.

Am I Eligible for an Instant Cash Loan, No Credit Check, Unemployed?

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Checking your eligibility for a Perfect Payday loan is crucial before applying, so for an instant cash loan with no credit check or job, you must:

  • Be an Australian citizen or permanent resident
  • Be over 18
  • Have a regular source of income (as we’ve illustrated) for at least 90 days
  • Have a working phone or email

How Do I Apply for an Instant Cash Loan?

Apply Online

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Online applications are quite simple and will only take you a few minutes. This is a process of filling out the application with the required information and providing the necessary documents, including:

  • ID information
  • Bank statements
  • Proof of income
  • MyGov account details (if you’re receiving Centrelink support)

Wait for Approval

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We review your application in minutes, make sufficient inquiries into your financial status and reasons for applying. Then, we verify the information you’ve provided and consequently come to a decision, either approval or refusal.

If your application is approved, we send you a loan contract. We strongly urge you to read it carefully and review its terms. Consider whether the personal loan rate, fees, charges, and borrowing limits are satisfactory for you. If you accept, sign it and send it to us.

Get Your Loan

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With your signed contract, we can then transfer the funds to your bank account in no time.

What Can Boost My Chances of Getting Approved for an Instant Cash Loan?

Your insistence on a no check loan is probably due to a low credit score, one that may have gotten previous loan applications rejected. But if you want to get to the root of this problem, here are a few suggestions for a better loan application.

Reducing Your Credit Card Limit

If you tend not to use your credit card’s limit, we would advise you to lower it because it’s essentially potential debt that you could get into. By giving up that option, you can enhance your loan application.

Paying off Some of Your Credit Cards

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High credit could hurt your credit score, so gradually paying off your credit cards is recommended.

Paying off Debts

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Gradually paying off debts helps relieve some of your financial pressure while simultaneously elevating your credit score and bettering your loan application.

Finish Your Employment Probation Period

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It’s generally preferable to apply for loans after your employment probation period is over, which is three months. This serves as a testimony to your job security.

How Much Can I Borrow on a Centrelink Payment?

You may be reluctant to believe that Perfect Payday can help you get Centrelink loans, but it’s true, and we offer you three options:

  • Small unsecured loan of $300 to $2,000
  • Medium secured loan of $2,001 to $4,600
  • Large secured loan of $5,000 to $10,000

Conclusion

Getting a loan when you’re unemployed and have bad credit isn’t easy, but you do have options. Lenders might take a chance on you if you can prove to have an alternative source of income that’s enough to cover your repayments, whether that’s a Centrelink payment or something else, and they may not even conduct a credit check.

Most importantly, you need to make sure that you fulfil the eligibility criteria for application, which isn’t too difficult since you’re specifically applying for 1 hour cash loans no credit check, unemployed. Afterwards, the application process shouldn’t be any different from that of other loan types, and the funds will be transferred to your bank account.

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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