Loans for unemployed in Australia
We compare 9 offers. Updated 21 May 2026.
Best offers – Loans for unemployed 2026
Bendigo Bank Secured Student Personal Loan
Student Secured Loan up to $50 000
$2,000 – $50,000
Interest from 6.79%
Approval: 24 hours
Can an unemployed person get a loan?
Absolutely! But they must have the capacity to repay the loan. Not all lenders will consider an unemployed person for a loan but some will, providing the person satisfies the eligibility criteria.
Capacity to repay the loan. Under responsible lending laws, the lender must assess your ability to repay a loan.
Credit history. Most lenders will check your credit history and financial situation before approving a loan.
Eligible income. Generally eligible income includes Centrelink benefits, regular share dividends, self-employed income or other regular income.
Security. Applications with assets as collateral typically receive better rates and approval odds.
Where can I borrow money if unemployed?
- Cash Converters. Offers up to $5,000 for those 18+, not in bankruptcy, with total repayments less than 20% of their Centrelink income.
- Payday Lenders. Fast funding with high costs — typically 20% establishment fee plus 4% monthly fee.
- No Interest Loans Scheme (NILS). Government-supported program offering interest-free credit of up to $1,500 without credit checks.
- StepUP Loan. Not-for-profit lender with no fees and 5.99% interest rate, lending $300–$3,000 over three years.
- Centrelink cash advance. Access future payments early through Centrelink.
How can I get emergency cash fast?
Payday lenders provide the fastest turnaround, with some offering same-day financing.