Just like any other applicant, single parents can apply for a payday loan as long as they can meet the eligibility requirements. Unlike some other forms of credit or personal loans, payday loans accept applicants who receive government benefits or are employed part-time. Some loans even approve applicants with a bad credit score. However, all applicants are required to meet other income and employment criteria. As these loans charge high rates and fees, it's also important to consider the risks and confirm whether or not you can afford to repay the loan during the loan term before applying.
You can use this guide to compare your options, learn more about the fees and features and understand the eligibility criteria.
⚠️ Warning about Borrowing
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
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Payday loans are small, short term loans that are designed to be repaid in line with the borrower's pay frequency and income. These lenders usually offer loans between $100 and $2,000 (or sometimes $5,000) for terms between 16 days, six months up to 1 or 2 years. Depending on the loan, you may be charged an establishment fee when you first apply as well as monthly fees.
These loans generally charge higher fees than other personal loans, so it's important that applicants confirm that they can meet the repayment obligations before committing. You can learn more about payday loans in this guide.
I receive Centrelink benefits, can I still get a loan?
A range of lenders consider borrowers who receive Centrelink benefits as income. Depending on the lender, they may require the Centrelink doesn't make up more than 50% of the total income. Compare payday loans for people receiving Centrelink payments for more information.
I don't have a good credit history. Will I be eligible for a payday loan?
Some lenders approve applicants with bad credit as long as they meet the other eligibility requirements. This could include a regular income or Centrelink benefits that make up less than half of the total income. The lender will also consider other financial factors including recent bank statements, expenses and liabilities including other loans and credit cards.
How to find the right loan for you
When comparing loan options, consider the following factors:
Borrowing amounts. Lenders usually offer between $100 and $2,000, but if you're a first-time borrower you may only be eligible for less. There are higher loan amounts available – up to $5,000 and $10,000 but the lending criteria may be stricter.
Repayments. The repayments are usually lined up with the borrower's pay schedule. For example, if they get paid fortnightly, the repayments will be set to be taken from the account every two weeks.
Fees. If you borrow less than $2,000 you will pay a maximum establishment fee of 20% and a maximum monthly fee of 4%, both based on what you borrow. Loans $2,001 to $5,000 have a maximum annual rate of 48% p.a. plus a $400 establishment fee. Arrears fees will also apply if the borrower doesn't make repayments on time.
Turnaround to receive funds. Applicants can usually receive the funds on the same day as approval, although some lenders may transfer it the next business day.
Risks of taking a payday loan
Payday loans can leave you worse off than before you borrowed the money so consider the following risks before taking one out:
Unaffordable repayments. Payday loans are an expensive way to borrow money. If you can't afford your repayments then most lenders will charge a late fee that will make your financial situation worse.
High rates and fees. Rates and fees on payday loans are high and there can be hidden fees if you miss a repayment. Always check with the lender what you would be charged if you are late to make a repayment or if you can't pay back the loan altogether.
What other financing options are available to single parents?
If you don't meet the eligibility criteria or don't think you can repay the loan on time, here are some alternatives to consider.
No Interest Loans (NILS). Good Shepherd Microfinance are a charity that offer no interest loans to people on low incomes to be used for specific things such as buying a household item or getting your car repaired. Check the NILS website to see if you could eligible.
NAB StepUP. Good Shepherd Microfinance also work with NAB to offer StepUP loans to people that meet their eligibility requirement. These loans can range from $800 to $3,000 with a fixed interest rate of 5.99% p.a. and up to three years to pay it back.
Centrelink cash advance. Centrelink allows people to request part of their income support payment or Family Tax Benefit (A) early as an advance payment. The recipients must then pay back it back out of future payments. You can only receive an advance once per 12 months and can afford to repay it within 6 months. Other eligibility requirements apply depending on the government benefit, so make sure to compare these factors.
Good Money. Good Money (a community partnership from NAB and Good Shepherd Microfinance) offers people in Victoria, South Australia and Queensland of loans between $300 and $1,500 for essential goods and services (such as fridges, washing machines and education). They also offer StepUp low-interest loans between $800 and $3,000. Be sure to check the individual fees, rates and repayment periods before applying.
Charities. There are various charities, including the Salvos or Anglicare, that can offer you emergency financial assistance.
Free financial counselling. If you're experiencing financial difficulty, you can contact a free financial advisor on 1800 007 007.
Loan repayment calculator
Payday loans charge higher fees than other options and it's important that people understand what their regular repayments will be (and whether they can afford them) before committing to a loan. You can use the loan repayment calculator below to get an idea of how much a loan can cost you (considering both regular repayment amounts and the total cost).
This calculator is designed to provide you with an estimate based on the numbers you enter. Your personal details are not taken into account and all calculations are based off the calculation model. This calculator is not intended to be the sole source of your information when making a decision regarding your loan, and this calculator also does not guarantee your eligibility. The calculator works off the following assumptions: fees do not change for the life, your lender will charge a 20% establishment fee and a monthly fee that is 4% of your principal loan amount. You may want to seek advice from a financial professional before signing up to a loan.
Matt Corke is Finder’s head of publishing ventures. Prior to this he was head of publishing for Australia, New Zealand and emerging markets. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time, he has survived the dot-com crash and countless Google algorithm updates. See full bio
These lenders won't complete a credit check when people apply for a loan, but there are other eligibility requirements that applicants must meet. Learn more here.
Need a loan but are worried you won't be approved? Before jumping the traditional bank ship and searching for a loan shark, find out how these "lenders" operate in Australia and why you should avoid them.
My question is I’m a single working mum on centrelink payments and I receive child support payments as well. I currently haven’t been receiving hours at work for no apparent reason which has left me behind in my rent and I’m desperate for emergency help. Will I be eligible for a loan?
If you are unsure when your next pay is coming in, then a payday loan may not be the best option for you – one option you can consider is a Centrelink cash advance, where one of your Centrelink payments is brought forward to help you pay for any immediate payments. You can get in touch with Centrelink to apply.
There are also a few community financial assistance programs detailed on our guide that can help you pay for essential household items. If you are in need of emergency financing you should get in touch with a charity organization that can help you with essentials for you and your child.
I’m a discharged bankrupt. And a single mum 0f 3 young ones and a 20yr old undergoing cancer treatment.am i able to get a loan for a second hand caravan to take my children on a small holiday over christmas?
Your eligibility will depend on a number of different factors, not just your credit history. You can read our guide on applying for bankrupt loans. The guide also has a list of lenders that may consider you for a loan. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for a loan.
If you would like to apply for a loan you can compare lenders on this page. Once you’ve found a lender you want to apply with, click ‘Go to Site’ to submit your application.
I am a single mom of two boys. I have had a really rough few months after splitting from my ex. I am needing help getting clothes and stuff for them for school and also for a apartment we have been staying with family and friends. I just need help getting back on my feet. Are there any loans I could get fast?
Thanks for your question and sorry to hear about your situation.
The loans on this page are all ‘fast’ loan options, but there are a few alternative loan options that you may be eligible for. These include the No Interest Loans Scheme and a StepUP Loan and are detailed towards the bottom of this page. You may also want to get in touch with the free financial counselling service on 1800 007 007 as they will be able to provide more personal financial advice.
Your eligibility depends on a number of factors, including your financial circumstances, credit history, etc. There are a few lenders who will consider you for a loan when you are in pension. If this is your sole income, you can find lenders who may let you borrow for an unemployed loan.
If you are receiving Centrelink payments as well as a supplementary income, you can compare lenders who offer loans to Centrelink recipients and other government and community assistance programs that you can apply.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for the loan.
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Afternoon
My question is I’m a single working mum on centrelink payments and I receive child support payments as well. I currently haven’t been receiving hours at work for no apparent reason which has left me behind in my rent and I’m desperate for emergency help. Will I be eligible for a loan?
Hi Patricia,
Thanks for your question.
If you are unsure when your next pay is coming in, then a payday loan may not be the best option for you – one option you can consider is a Centrelink cash advance, where one of your Centrelink payments is brought forward to help you pay for any immediate payments. You can get in touch with Centrelink to apply.
There are also a few community financial assistance programs detailed on our guide that can help you pay for essential household items. If you are in need of emergency financing you should get in touch with a charity organization that can help you with essentials for you and your child.
I hope this information has been of use.
Thanks,
Elizabeth
I’m a discharged bankrupt. And a single mum 0f 3 young ones and a 20yr old undergoing cancer treatment.am i able to get a loan for a second hand caravan to take my children on a small holiday over christmas?
Hi Donna,
Thanks for your question.
Your eligibility will depend on a number of different factors, not just your credit history. You can read our guide on applying for bankrupt loans. The guide also has a list of lenders that may consider you for a loan. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for a loan.
I hope this will help.
Thanks,
Elizabeth
Please help me my Account debit
Hi Sm199616,
If you would like to apply for a loan you can compare lenders on this page. Once you’ve found a lender you want to apply with, click ‘Go to Site’ to submit your application.
Thanks,
Elizabeth
I am a single mom of two boys. I have had a really rough few months after splitting from my ex. I am needing help getting clothes and stuff for them for school and also for a apartment we have been staying with family and friends. I just need help getting back on my feet. Are there any loans I could get fast?
Hi,
Thanks for your question and sorry to hear about your situation.
The loans on this page are all ‘fast’ loan options, but there are a few alternative loan options that you may be eligible for. These include the No Interest Loans Scheme and a StepUP Loan and are detailed towards the bottom of this page. You may also want to get in touch with the free financial counselling service on 1800 007 007 as they will be able to provide more personal financial advice.
I hope this will help.
Thanks,
Elizabeth
Am I eligible for a payday loan for single mothers on pension in financial crisis please thank you.
Hi Rosa,
Thanks for your question.
Your eligibility depends on a number of factors, including your financial circumstances, credit history, etc. There are a few lenders who will consider you for a loan when you are in pension. If this is your sole income, you can find lenders who may let you borrow for an unemployed loan.
If you are receiving Centrelink payments as well as a supplementary income, you can compare lenders who offer loans to Centrelink recipients and other government and community assistance programs that you can apply.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for the loan.
I hope this has helped.
Thanks,
Elizabeth