Being unemployed can make it difficult to get a loan, but not impossible. There are options available to borrowers without a job through specialist lenders, who can make use of other payments and criteria to approve your application. If you qualify for one of these loans, you can access cash quickly when you need it.
Why apply for a personal loan with Savvy?
Same-day cash loans for unemployed
The main finance option for unemployed borrowers is a cash loan. These are available up to $5,000 and can be used for just about anything you like (within reason, of course). For example, you could take out a loan to cover your car repairs or registration, medical bills or rental bond. You can take up to 12 months (for loans up to $2,000) or 24 months (for loans from $2,001 to $5,000) to repay your debt.
Cash loans and their lenders are more flexible than banks offering personal loans, car loans or other products. They’re often willing to look beyond a patchy credit history or lack of employment as long as you show you can afford your payments. They can also often approve applications as soon as the same day you apply, with funds hitting your account within a matter of hours.
It’s important to note, though, that these loans can be expensive compared to standard products. With interest rates of up to 48.00% p.a. for loans between $2,001 and $5,000, for instance, it’s crucial to avoid overborrowing and ending up in a debt spiral. Don’t ask for more than you need or can comfortably afford.
Can unemployed people apply for pay advances?
Pay advance providers, who allow you to borrow a portion of your future payslip and repay it once you receive your pay, aren’t available to unemployed borrowers. If you aren’t receiving a payslip from an employer, these providers won’t accept your application.
However, you may qualify for an advance payment through Centrelink. This allows you to receive a portion of a future benefit or benefits early, which is then deducted from your next 13 fortnights’ worth of instalments. You can qualify for an advance if:
- You don’t have another existing debt with the Australian Government
- You aren’t repaying an advance from more than 12 months ago
- You haven’t received another advance in the last 12 months*
- You can afford to repay it within the next six months
- You have at or above the lowest advance amount available
- You’re currently living in Australia
*This applies only for ABSTUDY Living Allowance, Austudy, Farm Household Allowance, Mobility Allowance, Jobseeker Payment, Youth Allowance for students or job seekers and Parenting Payment (unless you became single in the last 28 days, in which case an advance may be possible).
Here’s a breakdown of what you can access with an advance through Centrelink:
| Benefit | When you can apply | Advanced amount | Frequency |
|---|---|---|---|
| Family Tax Benefit Part A | At any time | Regular advance up to 3.75% of standard rate for one child under 13
One-off advance up to 7.5% of annual rate Total advanced can’t exceed $1,348.81 |
One regular advance at a time, paid every 26 weeks
One-off advances available at any time |
| Age Pension, Disability Support Pension or Carer Payment | After three months of benefits | Between $544.95 and $1,634.85 for singles
Between $410.80 and $1,232.40 if you’re in a couple |
Within a six-month or 13-fortnight period, you can get:
|
| ABSTUDY, Austudy, or Youth Allowance for job seekers and students | At any time | Between $250 and $500 | Paid across two instalments or all at once |
| JobSeeker or Parenting Payment | After three months of benefits | Between $250 and $500 | Paid across two instalments or all at once |
| Farm Household Allowance | After three months of benefits | Between $250 and $500 | Paid all at once |
| Special Employment Advance (for recipients of Austudy, Carer Payment, JobSeeker, Parenting Payment or Youth Allowance) | After three months of benefits | Between $50 and $500 | Receiving payment for three months. Can apply if:
|
| Mobility Allowance | At any time | Equal to 13 payments | Once per year (12-month period) |
| Source: Advance payment – Services Australia (information correct as of May 2025) | |||
Will my JobSeeker payments be considered income on my cash loan application?
JobSeeker payments can be included on an application if received as a low income supplement or combined with a Family Tax Benefit. However, if these payments are your only source of income, you’re unlikely to be approved.
Lenders will generally base their decision not only on how much you earn and the loan’s affordability but also on how reliable your income is. JobSeeker payments could theoretically disappear if you find a job or the Australian Government deems that you aren’t looking for a job.
Here are some of the Centrelink payments that can be included in your application:
- Single Parent Payment
- Age Pension
- Child Care Benefit
- Mobility Allowance
- Disability Support Pension
- Carer Payment
- Totally & Permanently Incapacitated Pension (T&PI)
- Partnered Parent Payment
Small loans to suit your circumstances
Are financial hardship loans available for unemployed people in Australia?
Yes – the main option available for unemployed people experiencing financial hardship is a No Interest Loan (NIL) through Good Shepherd. These are available for up to $5,000, depending on the purpose of the loan. Here’s what you may be able to borrow:
| Borrowing cap | Potential uses |
|---|---|
| $2,000 |
|
| $3,000 |
|
| $5,000 | A vehicle for everyday use, such as:
|
| Source: No Interest Loans – Good Shepherd (information correct as of May 2025) | |
As their name suggests, these loans come with no interest or fees on your repayments. However, you’ll need to meet their criteria to be eligible.
There are several free financial counselling sources available to those experiencing hardship. This includes the National Debt Helpline, Way Forward (who can help with arranging debt repayment plans) and the Mob Strong Debt Helpline for Aboriginal and Torres Strait Islander peoples.
How soon will casual work count towards my cash loan application?
The answer to this depends on your lender and its eligibility criteria. Lenders will want to see stability in your income after you pick up your new casual job, so the longer and more consistent your payments are, the better. Because lenders ask for 90 days of bank statements, earning an income throughout that period will maximise your chances of approval.
Cash loan cost table
| Small (SACC) loans | Medium (MACC) loans | |
|---|---|---|
| Minimum loan amount | $100 | $2,001 |
| Maximum loan amount | $2,000 | $5,000 |
| Minimum loan term | 16 days | 16 days |
| Maximum loan term | 12 months | 24 months |
| Repayment schedule | Weekly, fortnightly or monthly | Weekly, fortnightly or monthly |
| Establishment fee | Up to 20% of your loan amount | Up to $400 |
| Interest | N/A | Up to 48.00% p.a. |
| Monthly fee | Up to 4% of your loan amount | Included in the 48.00% p.a. maximum |
| Example loan | $1,500 loan over six months repaid fortnightly Costs: $1,500 (loan amount) + $300 (establishment fee) + $360 (4% fees over six months) Total cost: $2,160, repayable in instalments of $167 per fortnight |
$3,000 loan over 12 months repaid fortnightly Costs: $3,000 (loan amount) + $400 (establishment fee) + $912 (total interest over 12 months) Total costs: $4,312, repayable in instalments of $166 per fortnight |
