Instant Decision Loans

Applying for a regular loan doesn’t happen overnight. The process usually takes a while until you get the cash you need.


However, in specific scenarios, you may need to get the cash transferred to your account as quickly as possible. It could be for several reasons, like home renovations or medical emergencies.


In this article, we’ll give you an overview of everything you need to know about trustworthy unsecured loans and the application steps.

What Is an Instant Decision Loan?

instant decision loan

As its name implies, an instant decision unsecured loan is a type of loan that gets approved quickly, or rather, instantly. Typically, an unsecured loan’s approval may take several days or even weeks to get approved, which can be a problem when the borrower needs the money as soon as possible.

People may apply for a $50 loan instant for several reasons, like paying off debt, car maintenance, home renovations, medical emergencies, urgent flight tickets, having a baby, or more.

Instant Decision Loans Requirements

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Because of its nature, an instant decision loan has less strict eligibility criteria than other types of unsecured loans. Here’s what you need to apply for an instant decision loan:

  • To be a citizen or permanent resident of Australia
  • To be at least 18 years old
  • To have a job with regular income over the past 3 months

Applying for an Instant Decision Loan

Because of its nature, applying for an instant decision loan isn’t a very complicated process. In fact, many lenders offer instant decision loans through online channels to make things as convenient and quick as possible. Here’s how the application process goes:

  • Fill the online application form with all the required details
  • Wait for approval (should be received on the same day in most cases)
  • Once the application form is approved, you’ll need to select the loan
  • After choosing the most suitable loan for you, the money will be transferred to your account immediately

Advantages of Instant Decision Loans

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Instant decision loans can be lifesavers in many scenarios. Here are some of their pros:

  • Gets approved in a relatively short time
  • The application process is easy (can be done online)
  • Doesn’t require collateral like real estate property or a car
  • Doesn’t require a perfect credit score
  • Centrelink customers can apply

Disadvantages of Instant Decision Loans

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Borrowing money from a lending entity isn’t a walk in the park, even when it’s an instant decision loan. Here are some of its disadvantages:

  • Must be paid back with interest that can be high depending on the lender
  • Not-so-high borrowing limit
  • May damage your credit score if you don’t make your payments on time

No Credit Check Instant Decision Loans

instant decision loan no credit australia

Some lenders offer instant decision loans that don’t require checking your credit history. They only check your bank statement, employment status, and income. This loan type can be an excellent option for those with poor credit scores or a history of not making payments on time.

However, keep in mind that these loans are usually associated with inflexible repayment plans and high interests, so only go for one if you’re sure there’s no other way. Also, ensure that the lender is a trusted entity listed in the registers of the Australian Securities and Investments Commission (ASIC).


An instant decision loan isn’t your only way to get fast cash. Several alternatives can be better and even quicker, including:


instant decision loans australia

It’s always a favourable option to borrow from a relative or a friend rather than apply for a loan and pay it back with interest. If you know someone that can help, then, by all means, ask them if they can lend you some money to avoid drowning yourself in debt because of high interest fees. They’ll probably understand your situation, especially if it’s an emergency.

Credit Cards

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Paying with your credit card is a much faster alternative than having to apply for a loan. Not to mention, you can pay off your debt in full within a limited grace period without paying any additional interest fees. However, credit cards have an upper limit, which means that they won’t be your best solution every time.

To apply for a credit card, you must have a stable job with a regular monthly income. Alternatively, you can apply for a certificate of deposit at your selected bank and use it to secure the credit card. You can also use your property as collateral.

Final Words

Instant decision loans can get you out of tricky situations. Just make sure that you’re aware of the risks and are 100% sure that you can repay the loan on time to avoid having mountains of debt to deal with. Remember, borrowing money is a major responsibility that needs to be planned for.

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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