No Credit Check Loans Guaranteed Australia Centrelink

Needing a quick cash influx when your credit history or credit score isn’t up to par leaves you in a pickle, and that’s where a guaranteed no credit check loan comes in. Let’s explore what these loans are in full detail.

Guaranteed Approval Loans for Bad Credit Applications – Centrelink

bad credit loans australia guaranteed approval on centrelink

While there are plenty of lenders and options for borrowing for bad credit applications with Centrelink, approval is never quite guaranteed. At least, it’s never guaranteed, even if it’s from a credible and responsible lender.

To make sure that you’re borrowing from the right place, you have to be cautious when it comes to how the lender processes your application. If they don’t take your credit history and score into consideration, be it in regards to determining the APR or the fees, they’re probably a loan shark providing predatory loans.

These are loans that lenders give on the premise that the borrower won’t be able to pay the centrelink loan back, accumulating interest and delay fees, which make the cost of the loan very high, thereby benefiting the lender.

Still, a lot of lenders allow people to take out car loans bad credit centrelink if they receive Centrelink payments, as they’re considered a regular source of income. Also, they overlook low credit scores and the fact that the source of income is not a regular long-term job.

Can I Get a Loan with Bad Credit on Centrelink?

guaranteed approval loans for bad credit applications centrelink

Getting a centrelink white goods loan is possible, and getting quick access to funds is a huge bonus if you have a good credit score. 

As long as you’ve been receiving payments from Centrelink for at least 90 days, you can apply for them on Centrelink. However, if you’re receiving short-term benefits like Youth Allowance or Newstart, some lenders may exclude you from the eligibility criteria.

Typically, the sources that can be considered as regular income, which is eligible for borrowing loans on Centrelink are the following:

  • Age Pensions
  • Farm Household Allowance
  • Parenting Payment
  • Disability Support Pension

What Are Easy Loans to Acquire with Bad Credit?

secured loans bad credit on centrelink

It’s possible to apply for a centrelink business loan with bad credit when receiving income from Centrelink, even if it’s a personal one, and even if you don’t have a job. These loans include:

How Much Can I Borrow?

cash loan no credit check centrelink

How much someone can borrow when they apply with a dependence on Centrelink payments depends on how much these payments are. Typically, you’ll be able to borrow an amount between $200 and $5,000.

There’s a JobSeeker Loan that you can be eligible for if you’re 22 years or above but still under the pension age, looking for work but can’t find it, or if a sickness or disability makes you unable to find a job. If you’ve recently lost a partner who contributed financially, you’re also eligible to get a jobseeker allowance from Centrelink.

For smaller amounts, you can get an centrelink student start up loan ranging between $300 and $2,000 for a duration of 12 months. Larger amounts are usually secured, which are $5,000 or up. They can span between 13 and up to 24 months. 

And if you want something in the middle, you can opt for a medium loan, which is typically secured as well, ranging between $2,100 and up to $4,600 for a duration of 13-24 months.

What Are the Eligibility Criteria?

loans on centrelink no credit check

To get a guaranteed bad credit loan with Centrelink payments, you have to meet the following criteria:

  • Being an Australian citizen or having a permanent Australian residency
  • Being at least 18 years or above
  • Having a credible address, direct contact number, and e-mail
  • Having proof of receiving Centrelink payments as a regular source of income for at least 90 days

How to Decide Between Various Loan Options?

When sifting through the various lenders and you want a good way to judge between them, here are the most important aspects to consider:

instant cash payday loans

The Annual Percentage Rate

The annual percentage rate, or the APR, is the number used to calculate how much interest you’ll pay on your loan. So, you have to consider it when you’re doing your calculations and make sure that your regular Centrelink payments would cover the repayment of the principal of the loan (initial amount borrowed) and the added interest.

Fixed vs. Variable Rates

You have to check if the lender follows a fixed or variable interest rate policy or if they leave the decision up to you. With fixed rates, you’ll be able to plan ahead, and they’re the better route for you if you intend to repay using Centrelink payments. However, variable ones can be a lot more beneficial if you expect the interest rate to decrease, which would reduce your monthly instalments as well.


The term of the loan would dictate the loan’s final total cost, as with longer terms, you’ll be paying a higher price in total. 

So, consider whether you can save up your Centrelink payments and use them at the end of a certain period, or if borrowing the lump sum amount and paying some fees for the cost of borrowing is the better option. 

The latter would be better if the amount of time you need to save your Centrelink payments would exceed the duration in which you’ll need the amount of money.

Fees and Charges

There are some associated charges with any loan, represented in processing fees, origination fees, dishonour or late payment fees, and even early fees. 

These include the money you have to pay to process your application for a loan, the cost of applying, and any extra money you’ll have to pay if you miss a due date. 

Also, if you pay the loan earlier than expected, you might be subjected to early payment fees, which lenders impose to guarantee that they’ll be getting the expected profit from the loan they’ve offered.

Final Thoughts

So, as you’ve come to learn, you can manage your finances on a larger scale if you receive Centrelink payments on a regular basis. 

If you need a large sum of money that you can forego your regular Centrelink payment influx for, later on, getting a guaranteed loan on Centrelink is an excellent way to tide yourself over.

About the Author

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

View All Posts