We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Taking out a personal loan is probably the simplest way for most borrowers to get a $5,000 loan.
Most people looking for a $5,000 loan will choose an unsecured personal loan. These loans are easier to get and you don't have to put up a car as security.
Secured personal loans typically require a new (or newish) car as security. While some lenders may offer you a lower rate (because the loan is lower risk to the lender), these days the lowest unsecured personal loan rates are often just as low.
The exact cost of a $5,000 personal loan depends on:
| Loan value | Loan term | Interest rate | Monthly fee | Monthly repayments | Total cost |
|---|---|---|---|---|---|
| $5,000 | 3 | 7% | $10 | $165 | $918 |
| $5,000 | 4 | 10% | $5 | $132 | $1,328 |
| $5,000 | 5 | 12% | $8 | $120 | $2,154 |
It's important to consider the different fees, interest rates and loan terms when you apply for a personal loan. As you can see, a 5 year loan term with a higher interest rate will give you lower monthly repayments, but you'll end up paying much more in fees and interest over the loan period.
These are just simplified examples that don't take your personal circumstances into account. Use a personal loan repayment calculator to figure out your own loan costs.
The personal loan comparison rate takes into account both the loan's interest rate and the cost of fees. It's designed to help you understand the true cost of a loan.
Every personal loan has a comparison rate, but most lenders calculate these rates based on different loan sizes, typically $30,000 or $10,000. So these rates don't always reflect the costs for a $5,000 loan.
Check your credit score for free through Finder
Borrowers with bad credit who need money quickly often turn to:
When borrowing as much as $5,000, short-term loans and bad credit loans are going to become very expensive. These loans have higher interest rates and hefty fees. This makes any loan expensive, but the more money you borrow the worse it gets.
Beware of lenders whose websites mention "guaranteed approval" for small loans. The truth is any regulated lender will perform some kind of check on your credit score and suitability as a borrower before lending you $5,000.
These lenders are often going to charge you very high interest rates and fees.
If a lender is truly promising you "a small personal loan with guaranteed approval" they are likely a scam. You can check ASIC's register to see if a lending business is appropriately licensed.
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:
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.
The following lenders offer loans up to $5,000 for bad credit applications. Be sure to compare lenders before applying:
| Lender | Loan amount | Eligibility criteria | Find out more |
|---|---|---|---|
Fair Go Finance | $500 to $5,000 |
| |
nmoni | $2,001 upwards |
| |
Swoosh Finance | $2,200 to $4,584 |
| |
Nimble | $500 to $5,000 |
| |
Rapid Finance | Varies |
| |
Wallet Wizard | $500 to $8,000 |
| |
MoneyMe | $5,000 to $50,000 |
| |
Cash Converters | Up to $4,600 |
|
If a personal loan doesn't work for you and you'd rather avoid a pricey payday loan, you could consider one of the following:
You could get a credit card with a $5,000 credit limit. But it's probably a bad idea if you have to cover a single $5,000 purchase.
The card's transaction limit might not allow you to spend this much in one go.
And if you don't pay off the card within the interest free period (usually up to 50 days) then you'll pay interest at a much higher rate than a personal loan. And there's no end date with a credit card debt. If you're not disciplined in pay the card off you could be paying interest for years.
Addicted to details. We know taking out a personal loan is something you'll be hooked up with for a while. That's why we put hours into research for this guide (and still do at least once a month)
Rates obsessed. Lenders come in all shapes and sizes, that's why we don't just track the big banks, but all the digi folk too. Pretty much everyone but your parents to be honest. 
Cash for whatever you need. Lending rates verified from 180+ products day and night. Whether you're buying a car, rennovating your home or heck just ready to let loose with the spending - we got you.
OurMoneyMarket offers personal loan solutions for whatever your need. Whether you want to buy a new car, pay for your wedding or renovate your home, you can choose between secured and unsecured loan options.
Are secured personal loans better than unsecured personal loans and how do they work?
Find out more about Pepper Money's no fee personal loan and benefit from a competitive rate from 6.95% p.a., zero fees and loan terms of up to 7 years.
Personal loans offer a range of loan amounts to suit different purposes and budgets. Here's how to get the loan amount you need.
If you are looking for a credit card that gives access to a limited balance transfer offer, Visa and dining benefits, look no further than the Citi Ready Credit.
Compare unsecured personal loans from some of Australia's top lenders. Find the best deal on rates, fees and features in seconds.
We’ve written about fixed rate personal loans and what their advantages are.
Finder's experts look into our database of over 200 personal loans each month to bring you our Top Picks across 5 key categories.
Find a low interest loan by comparing your options with Finder. See interest rates, fees, and features for loans across Australia, plus guides to help you get the best deal.
If you're sick of paying too much interest, find out how you can save money when you refinance your personal loan. There is a range of options available and you might get out of debt sooner.
if I went bankrupt in 2008 and im on centerlink can I get a loan
Hi Kelly,
Thanks for your question.
You may still be eligible for a loan, though be mindful of the requirements. Some require that Centrelink can not be your sole income and can only make up 50% of your income.
Cheers,
Shirley
hi can you help me find a loan for $3000 I have bad credit. I am on social security. and I have been baby sitting for two years. my monthly income all together is $1600. I don’t have a checking acct. I use a debit card. can someone help me ?
Hi Diana,
Thanks for your question.
Unfortunately at this current point in time the highest loan amount in our comparison for bad credit is $2,025 by Dollars Direct. If you would like to proceed with this loan, please click on ‘Go to site’ to get started.
Dollars Direct looks at the cash flows in your bank statement in order to assess your eligibility.
Cheers,
Shirley
Want to borrow 600 dollars my credit is poor. Is there any verication fees like first months installment
I live in the United States not Austrsila sorry
Hi Mary,
Thanks for your question.
You may want to compare your options on our no credit check personal loans guide.
The fees are typically charged through your repayments. For example, the cost of borrowing $100 is 20% of borrowed amount + 4% of borrowed amount each month as your repayments.
Cheers,
Shirley
Can you help me find some body that wil lend me $5000 pls asap
Hi Karl,
Thanks for your question.
If you currently have a good credit standing, you can apply for an unsecured personal loan up to $5,000. The lenders who can assist you are listed in the second, blue comparison table on this page.
Cheers,
Shirley
Doo you have a lender hoo will lend 5000 to me wen I have bad credit and on centrelink onley
Hi. Was just wondering, my credit is aweful and need about 5,000.00.. can pay it back by the end of this month.How would I go about doing that?
Hi Anne,
Thanks for your question.
Unfortunately at this current point in time the maximum loan amount in our panel of bad credit lenders is $2,025.
If you would like to proceed with an application, please ensure you meet the requirements and click on ‘Go to site’ to get your app started.
Cheers,
Shirley
Hi Leon,
Thanks for your question.
Since your only source of income from Centrelink, you may not be able to borrow such a high loan amount. There are a few lenders who will consider you for a loan when you are receiving Centrelink payments. You can find lenders who may consider you to borrow from our list of unemployed loans.
You can also compare lenders who offer loans to Centrelink recipients loans to Centrelink recipients and other government and community assistance programs that you can apply.
Please ensure you compare your options and meet the criteria and kindly read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for the loan.
Cheers,
Shirley