Payday Loans – Weekend Payout in Australia

Signing up for a loan around the weekend means that your funds won’t be transferred to your account until the next business day (Monday), but luckily, you have other options. 

If you’re not entirely sure how to navigate a payday loan over with a weekend payout, I’ve cooked up this guide to help you understand all the ins and outs.

What Is a Payday Loan with Weekend Payouts?

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As indicated by our tests, a bankrupt payday loan is a personal loan that you can acquire with the guarantee of a regular income that you’ll receive on your upcoming payday. 

The weekend payout is an extra benefit that allows you to receive the funds over the weekend instead of having to wait for the working week to start, which is a luxury that you might not always have.

Payday loans no brokers are quite easy to handle as they don’t require collateral and need little to no paperwork, thanks to their nature of being of relatively small amounts. 

Although they’re unsecured, the regular income that you receive on behalf of the institution you work at acts as collateral, as the lender can claim your paychecks as their own with the proof that you borrowed the loan.

Generally speaking, a direct lender payday loan is the ideal route to take when you need some money to tide you over until your next paycheck.

How Do I Know If a Payday Loan Is a Good Idea for Me?


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First of all, you have to make sure that the charges associated with the loan are reasonable and appropriate with the amount of the loan you’re taking.

Some lenders impose a fee of $10 and up to $30 on every $100 that you take out. So, for example, if you take out only $300, your average APR (Annual Rate Percentage) would exceed 400%!

And though payday loans no credit check no employment verification direct lender, being unsecured, are known for their relatively higher APRs, you shouldn’t go for something that high. This is especially true when you consider that there are late fees that the lender imposes on you if you miss a deadline.

Still, payday weekend payday loans are very accessible with fast and easy funding, and there aren’t many restrictions or required paperwork when applying for one.

Moreover, the lenders usually don’t check your credit history, so you don’t have to worry about any prejudgements. And the best part is that when you pay the payday loan successfully, it positively contributes to your credit score, making you a better candidate for other high acceptance payday loans in the future!

How to Choose a Payday Loan with Weekend Payout?

Drawing from our experience, there aren’t many things you have to worry about when trying to settle on a payday loan, but you have to check the APR and make sure that you get the best deal (the lowest percentage), a proportionate loan term, and disclosure on all the associated fees and charges.

You don’t want a loan term that’s so long that repayments with the added interest would reach double the amount you borrowed! So, make sure that you discuss with your lender the final amount you would have paid after the loan term is over.

And since you need funding over the weekend, ensure that the lender has online applications so you can get the money transferred to your account within hours of the approval of your loan request.

Can You Get a Payday Loan on the Weekend? What Are the Eligibility Criteria?

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When applying for a payday loan, all you have to do is prove that:

  • You’re over 18 years old
  • You’re an Australian citizen or you’re a permanent resident
  • You have a stable job that provides you with regular income

This is why it’s a little harder to navigate the get a loan without bank statement if you run your own business or if you’re a freelancer, but you can still provide a bank statement with proof that you’ve been receiving a minimum regular amount of money.

However, you should be cautious of lenders that ask for direct access to your bank account, which they would use to automatically withdraw their repayments. Although this sounds easier and more convenient, it’s a significant risk on your end.

It’s much better to take care of the repayments on your own, even if the lender imposes higher APRs in that case.

Final Thoughts

We determined through our tests that, a payday loan is a simple way to give yourself that push when you’re struggling with monthly payments. As long as your next paycheck covers the amount you need to pay back, you’re good to go!

Just keep in mind that any form of loan is a huge responsibility that must be taken seriously. Before you decide to take out a loan, make sure that it won’t affect your ability to pay for the necessities in the next month, or else you’ll need to get payday loans online no credit check instant approval every single month.

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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