Frequently asked questions

What is loan application process?
We have 3 Simple steps – Fill in your information online, Get approval in 30 minutes and Loan is paid electronically in 1 Hour of approving the contract.
How soon do I get money in my Bank account?
If you have account in Commonwealth Bank, then you will get money in 1 Hour once loan contract is approved by you.If you have account in any other Bank, then funds are subject to processing by your Bank. We will transfer the funds electronically in 30 minutes of the approval

How much does it cost?
100% Online application
Interest rate- No Interest Charged
Loan Establishment fees – 20% of Principal amount
Monthly fees – 4% of Principal amount
Direct Debit fees (payable to direct debit provider) – 0.99 cents
The fees is as per National Credit Act and as per ASIC guideline
You will see a clear breakdown of fees and repayments in loan contract.
Why Apply with us?
- 100% Online application
– No paperwork required
– No personal visit required
– Centrelink and Bad credit welcome
– No Hidden fees and charges
– No Loan application fees
– Australia wide customers
– Fast loan payments – 1 Hour of approval
– Repayment amount & dates , Fees & charges mentioned in Loan contract
Are we authorised by Government for lending?
We hold an Australian Credit Licence No 464528 issued by ASIC and we comply with all Credit/Lending legislation including National Consumer Credit Protection Act 2009. As a responsible lender, we make reasonable inquiries about your personal information and financial situation. We will only offer you loan if it suitable for your purpose. Our loans are covered under Small Amount Credit Contract. We will make reasonable enquiries to confirm the information you have provided in loan application. There is no hidden fees and all the repayments, fees and date of repayment will be mentioned in the contract in simple English (easy to read)
Is there any Loan Application fees?
There are no Loan application fees. Just enter your information and get free loan assessment. Your Loan contract will have all the figures- loan, repayment amount and dates.
Can I choose the repayments?
Yes you can. When you apply for the loan, there are options for various loan payment periods. The amount will vary depending on your payment frequency and total contract period.
Why Only Small Loans?
We have credit licence issued by ASIC and we are authorised to offer Small loans only.
If you want to apply for higher amounts, it is better to contact your bank.
I have a Bad Credit, Will I get the loan?
Don’t worry about bad credits. We will approve loans depending on reason, amount and time of these defaults.
Do I have to come personally to Sign the Contract?
No, there is no need to come personally. All the communication is done electronically and no personal visit is required. Just fill in the loan application form, get approval in minutes and money is paid in 1 hour.
How much can I borrow?
Your loan limit will be decided once you fill online application.
So just fill in online form and get FREE loan assessment
I am on Centrelink benefits, Can I still apply?
Yes, you can still apply. Just fill in Online application form
What if I have a Complaint?
We are member of Credit Investments Ombudsman (CIO) and we take each complaint seriously. You can write any complaint to us at complaint@personalloansonspot.com.au
How do I make repayment?
Repayments will be done by direct debit to your Bank account. You don’t need to contact your Bank. It will be done via our online system once you approve the contract & receive the money.
Can I apply loan outside the Business hours?
Yes, you can. But your application will be processed and loan amount will be paid within first 1 hour of next business day.
I am your customer and I am experiencing Financial hardship?
Please contact us and we will help you in sorting this situation. You can email us on admin@personalloansonspot.com.au or call us on 1300 768 284

Personal Loans On Spot accepts no responsibility for any loss, damage, claim or expense suffered by you as a consequence of your reliance on the information provided in this site.By consenting to give your bank account and/or online banking details to the secured link provided, you agree/allow a third party service provider (operating onshore) access to your account information.