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.
Will a guarantor help in applying for a bad credit loan
Hi Matt,
Thanks for your question.
Generally the guarantor feature is not available with short term loans.
Please note that some lenders on this page do not conduct credit checks, rather they look at the patterns of your bank statement to determine your eligibility.
Cheers,
Shirley
What is the repayments for $5000
Hi Roat,
Thanks for your question.
Your repayments will depend on how soon you’d like to pay the amount back. If you click on ‘go to site’, it will take you to the provider’s calculator where you can calculate your repayments.
Cheers,
Shirley
I am looking for a loan to consolidate my payday loans. I have very bad credit – Can you help!
Hi Karen,
Thanks for your question.
Please note that due to government regulations it’s not possible to apply for more than one or consolidate payday loans. If you would like some guidance, there is free financial counselling available by calling the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday.
Cheers,
Shirley
Bonjours je suis Billa Hamadou du Burkina Faso.
j’ai besoin d’une aides très urgents
j’ai besoin d’un appareil Detecteur des métaux Garrett ATX
je demande a tout et a tous de m’aider avec cette appareil pour que j’ai puis me sauver avec Merci réponse svp
Hi Hamadou,
Thanks for your question.
If you’re interested in one of the product on this page, please click on ‘go to site’ to be taken to the application page. The lenders featured on the first table on this page consider applications with bad credit.
Please note that to be eligible for most loans you’ll need to be an Australian resident or permanent resident.
Cheers,
Shirley
I have bad credit who can help me with a loan for $1.500 and wat are repayments back
Hi Deb,
Thanks for your question.
The lenders on this page can assist those with bad credit. For a $1500 loan amount over a 24 month term, your weekly repayments would be $22.57.
Please note that this doesn’t represent a quote, and you can reduce or increase your loan term to change your repayment amounts.
Cheers,
Shirley
Hi, I am from Ukraine and I urgently need help in obtaining a loan,
the amount of $ 3,000 without prepayment will appreciate any kind of help, we are now in Ukraine Hryvnia devalued our hard and I stayed loan is not repaid so please do not indifferent for help, not your eyes away from me.
Thank you in advance.
Hi Yuriy,
Thanks for your question.
Please note that finder.com.au is an Australian comparison site and we only compare products issued in Australia. In most cases you’ll need to be an Australian resident or hold a relevant Visa to be eligible for the products we display.
Cheers,
Shirley
Hi,
I have 1 default (credit card) that I finished paying 1 year ago but that listing has not left my credit file even though I have fully paid it.. It will be taken off this July 2015 this year.. But I am in need for a $2000 loan where I can use my car as security as it’s worth $7,500.
I am only on Centrelink benefits but can afford to pay back $2000
Do u think I will be approved if I use my car as security ??
Hi Fatan,
Thanks for your question.
Since your sole income is from Centrelink, you may find that your options are limited as most payday providers require that 50% of your maximum income comes from Centrelink.
Our page on loans to Centrelink recipients may be able to give you more information on what products you’re eligible for.
Please note that payday loans typically don’t require security. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Shirley