It may be difficult to get a loan if you are unemployed because many creditors want candidates to be recruited and have a good credit history. However, unemployed workers can still get a loan, although the criteria for eligibility may be a challenge and the interest rate may be high. This article will give advice when you choose loans for unemployed Australians. 

Loans for unemployed Australians
Four tips to get the best loans for unemployed Australians

In the previous post, introduces people to some of the necessary information that is useful for getting the no credit check loans, to get more information people can read the article Four benefits of no credit check loans attract Australian. Now, let find knowledge about loans for unemployed Australians in the post today.


Just like a lot of article posts about Bad Credit Loans Australia. Personal Loans Australia, fast cash loans Australia, cash loans Australia…. this post about the personal loans for unemployed Australians also includes some main parts. They are:

1. Some requirements to apply for loans for unemployed Australians

Earn a specific income. Although you may not need to work, you may still need to earn a regular income to apply. This is a common criterion you will find with personal loans, so if you do not have a job or are casually employed but earn enough income, you may still be eligible to apply.

Receive Centrelink payments. Some lenders will accept Centrelink payments as a form of income, but, as stated above, they will have guidance around this. The requirements may be that no more than 50% of your income comes from Centrelink payments or you do not receive Newstart or DSP benefits. Check the specifics before applying.

Rate your credit. With flexible employment criteria, it often comes with flexible credit criteria. That is, if lenders are willing to look beyond your work, they can often look beyond the negative signs in your credit profile. However, remember that this flexibility is limited. For example, you may have one or two defaults and still be accepted, but many lenders will not consider you if you are currently bankrupt.

Your property. If you own a car or a boat completely or have some equity in a property, your application may have a better chance of being approved. This is because lenders can use this as a guarantee for loans.

Lender Loan amount Eligibility
Cash Converters
$50 to $4,600
  • Over 18
  • Earn at least $300 per week
  • Reside in Australia
$500 to $1,900
  • Over 18
  • Earn a regular income
  • Australian citizen or permanent resident
OK Money
$200 to $5,000
  • Over 18
  • Earn a regular income
  • Australian citizen or permanent resident
  • Apply in-store
Wallet Wizard
$100 to $5,000
  • Over 18
  • Are able to afford the loan

2. Somethings you should know when choosing loans for unemployed Australians

2.1. You need to be able to repay.

The main thing the lender will consider when you apply is whether you have the means to manage your repayments. If you only seek to borrow a small amount and your income and expenses show that you can easily manage continuous repayments, you may be eligible. If you are considering borrowing a large amount of money that will make it difficult to manage on a daily basis, lenders cannot accept you.

Loans for unemployed Australians
Four tips to get the best loans for unemployed Australians

2.2. Other requirements will need to be met.

You may find it difficult to approve if you have any other short-term loan agreements you are currently repaying and many lenders will not consider you lending if you are currently bankrupt or under the Agreement. owe Part 9. You will need to check other eligibility requirements set by the lender before you apply. Just because they have flexible criteria when it comes to your work doesn’t mean they’ll be flexible about everything.

2.3. Do you receive Centrelink payments?

This is often what allows lenders to consider you lend when you are not working. If you receive some Centrelink payments, such as pensions or parenting, you can use them as income (but only a certain percentage of your income). Some payments, such as Newstart or Disability Support Pension (DSP), may not be accepted by some lenders, so be sure to check before you sign up.

This post is about loans for unemployed Australians. We provide this information to offer you some of the necessary information that is useful for getting loans for unemployed Australians from any lenders. Also if you are looking for information about the home loan Australia, please refer to the You can apply for a home loan Australia if meeting some requirements link we just provided in the previous article.

Anita (Team Content) – Loans for unemployed Australians