Payday cash loans

It’s normal to take a payday loan when you’re facing a bad financial scenario at the end of the month. Spending more than your paycheck in a month for personal reasons is quite common and nothing to be alarmed about. A little extra money in the bank account can finance the everyday needs in this situation.

We know how lengthy traditional cash loans at banks may take. Furthermore, you need to examine their interest rate, and the entire process is exhausting, particularly in an emergency.

For any of our personal loans, we at MyBorrowing provide a simple online application process. Our payday cash loans have a 0% interest rate and a normal establishment fee with a standard monthly fee. Our modest loan costs and charges solely comprise the establishment fee and the monthly maintenance cost.

Apply for a payday loan today and repay us when you get your next salary.

The application process for our personal loans

Customers are always our first priority at MyBorrowing. We’ve simplified the online application process to a point where there are only four steps to get money in your bank account.

Just follow the instructions and get a payday loan today within a matter of hours.

  • Decide the cash loan amount you need to borrow. Borrow a loan amount you can comfortably repay. Once done deciding the repayments, check the comparison rate and apply.
  • Once our cash loan experts approve your payday loan application, we find you a potential lender.
  • The lender does the final approval.
  • You will get the money on that very day once your payday loan gets approved.

The comparison rate for payday loans changes with different loan amounts, so take a good look at it before you borrow payday loans from us.

What are payday loans?

Payday loans are a particular type of cash loan designed to help our customers with financial aid to the day they get their next paycheck. It doesn’t matter if they have a bad credit score. Anyone with a regular income can apply for payday loans.

All the customers are protected by the National Consumer Credit Protection Act 2009, and we as a company strictly follow the regulations set up by the Australian government. You can legally borrow from us anywhere in Australia.

If you are on government benefits or Centrelink, you can apply for payday loans. We consider those as regular income sources too. In this type of personal loan, the repayments are designed as per your payday. That means you have to repay the loan once you get your salary or advance from Centrelink.

Additional information needed

If you want to borrow payday loans from us, you need to submit additional information. We need to access your last three month’s bank account activity. Your bank statements must be submitted if you want to borrow a quick cash loan.

We also need the details of your source of income. May it be Centrelink or a place where you work.

Eligibility criteria for Payday loans

We have a list of five criteria to decide if you are eligible for our payday loans.

  • You have to be at least 18 years of age or above to apply for payday loans online.
  • We only accept customers from Australia.
  • To access our payday loans online, you need to have an active bank account for the last 90 days.
  • An operational mobile number and email ID are necessary while borrowing payday loans from MyBorrowing.
  • You need to have access to online banking if you are planning to borrow our cash loans.
  • You need to have a regular income. May it be Centrelink or any other government benefits.

Read the loan contract carefully for your payday loan. Different payday loan amounts might result in an additional fee structure. Once approved, you can get your money in the bank account within 60 minutes.

MyBorrowing is the best when it comes to payday loans

  • We hold an Australian credit licence, and our payday loans are completely legal.
  • Our customers are protected by the National Consumer Credit Protection Act 2009.
  • We are willing to look past your bad credit score and credit history while lending a small loan with minimal fees and charges.
  • 100% online application and money transfer.

  • Our 20% establishment fee and the 4% monthly maintenance fee for every cash loan are set up according to the rules of the Australian Credit Licence.
  • Our predetermined comparison rate for each medium cash loan and loan term cash loan is helpful for our customers.

Where can our payday loan service be used?

  • Car repairs, house repairs, wiring works, paint jobs etc. emergency expenses.
  • Paying off credit card debts.
  • Medical bills.

There are plenty of other reasons why you’d need a loan from lenders. The lenders are always extra careful in the case of payday loans. Your income and reason for lending can make a difference in the approval procedure.

If you are from Australia and have a regular income, go through our 100% online procedure and get fast cash in your bank account within hours. Apply for a cash loan today.


How much can I borrow?

In short-term cash loans, you can borrow from $500 to $2,000. Get a payday loan with more loan amount up to $10,000 only if you qualify our eligibility criteria.

How do the repayments work?

It’s essential to follow the repayments for your payday loan. Skipping or missing repayments will cost you penalties and can worsen your credit score. Decide on a direct debit schedule with your lender in accordance with your payday. The loan amount you need to pay back when you get your income is crucial.

What if my financial situation worsens?

The most important thing you should do at that moment is to notify your lender. Rather than trying and missing repayments, it’s better to let your lender know beforehand as they can settle a new schedule for you.

How much does a payday cash loan cost?

All our loans have the exact fees and charges. If you want to get your money fast, you just have to work out a payment plan with your lender, and you are good to go. A flat 20% establishment fee and a 4% monthly fee are standard for any quick cash loan.