Apply for a Payday Loan
Hassle-free short term loans
Nextpayday is committed to providing you with a hassle-free short-term loan designed to help you over a difficult patch. We are 100% online, processing applications 24/7, regulated by ASIC, and are active members of the National Credit Providers Association and the Financial Ombudsman Service.
How Next Payday works in 3 Easy Steps
We know life doesn’t always go as planned, so we’re here to help by making our services as simple, fast and transparent as possible. Apply for an online cash loan in 3 easy steps.
Apply using our online loan calculator and application form. We’ll only ask you for essential information that will enable us to assess your application.
We’ll verify your information and outline the terms of your loan, which you can e-sign online. It takes just minutes to complete.
Cash In Your Account
Once you’ve e-signed your loan offer. We’ll carry out a few final checks. Once approved, Next Payday will send your cash within 60 minutes.
Quick Online Loans Up to $1600
We offer loans from $200 - $1600. Repayments are withdrawn from your account via Direct Debit on the day that you are paid, either weekly, fortnightly, or on a specific date in the month. The application process is straight forward, takes only a few minutes, and during business hours we typically make the decision and send the funds in less than 60 minutes. Depending on who you bank with the money can be with you in minutes, a few hours, or at worst overnight. By far and away the majority of our payments are received the same day.
Our small loans are $200 to $1600 with a minimum duration of 62 days and maximum of 90 days. Fees include an establishment fee of 20% of the loan amount and a monthly fee of 4% each month. We match your repayments to your pay cycle.
By way of example, a loan of $500 over a 3 month period would have an establishment fee of $100 and a monthly fee of $20 each month ie: total monthly fees of $60. The total repayable is therefore: $500+$100+$60=$660. Your monthly repayment amount is therefore $220 per month.
Note: The Nominal Percentage Rate for small loans is 0% as the loans are fee based.
A comparison rate is a tool you can use to determine the true cost of a loan. It contains a standard formula which includes the interest rate and certain charges relating to a loan.
- Adjusted Credit Amount: $1,000 (what you receive)
- Permitted Establishment Fee: $200 (set by NCCP at 20% of the loan amount)
- Monthly Permitted Fee: $40 per month charged on the anniversary date of the loan
- Amount of Credit of the Loan: $1,240
- Nominal Percentage Rate (Interest) per annum: 0% as defined by NCCP
- Repayment Frequency: Weekly
- Total Amount of Interest Payable: NIL
- Total Number of Repayments: 26
- Consisting of 25 payments of $55.38 and 1 final payment of $55.50
- Total amount of repayments: $1,440.00
- Comparison Rate*: 152.0284% as defined by NCCP
*This Comparison Rate is based on a $1,000 loan over a term of 26 weeks. We do not offer a small loan of $1000 over 26 weeks.
WARNING: This comparison rate is accurate and applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
PayDay Loans Online
What is a payday loan?
A payday loan is a loan where the repayments are aligned with the payday of the person who is borrowing the money; these types of loans are designed to help you over a difficult patch and have a minimum repayment time of 62 days and a maximum of 12 months. They are called payday loans because the repayments are deducted on your payday. Statistically, there is a higher chance of loan repayments being successfully made when they coincide with your payday. It also prevents the hassle of budgeting around a repayment, or setting reminders for when the repayment is due.
Payday loans originated in the United Kingdom where payday lending has grown dramatically over the past decade. However, the United States currently has a larger volume of people taking out payday loans, mainly because of speed and convenience. NextPayDay is an Australian company who provides credit of $200 to $1600 to Australians who need to bridge a one month temporary cash shortfall.
What is the repayment timeframe of a payday loan?
A Payday loan, otherwise known as a quick cash loan, is designed to cover a short period of time. NextPayday offers quick cash loans starting from $200 to $1600. In some instances the repayments can be extended up to a six week period, however, most of our loans are over a one month repayment period.
What do I need to know as an Australian wanting to take out a payday loan?
The Australian Government has created laws to protect Australians wanting to take out payday loans. These laws help Australians by capping repayment fees, and establishment fees. This is set out in the National Consumer Credit Protection Act of 2009, otherwise known as the NCCP. Borrowers with NextPayday pay a 20% establishment fee cap and 4% monthly fee or part thereof. With a simple fee structure and transparent loan process, your payday loan is as convenient as possible for you!
An application takes less than 5 minutes to complete. We process your loan a short time later with the money on its way in under an hour. That’s a seriously fast loan.
You don’t have time to deal with manual loan processes. Get your bank details and ID together and you’re ready to go. You can apply 24/7 – we’re always open.
You generally do the right thing and pay off your debts. We won’t penalise you because your credit file isn’t perfect. What we look for is a recent history of repayment and affordability.
This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009
WARNING: 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:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
- Talk to your electricity, gas, phone or water provider to work out a payment plan.
- If you are on government benefits, ask for an advance payment from Centrelink: www.humanservices.gov.au/advancepayments
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.Start your application
Nextpayday offers fast, online cash loans up to $1600.