Job Seekers Loan Australia

What is a job seeker’s loan? This is a type of loan specifically designed for job seekers—the unemployed or people who are actively seeking employment. It helps cover costs such as rent, training and certification fees, transportation and other bills (especially, job-related). This type of loan is usually more flexible than regular loans especially with regards to repayment terms, interests and eligibility criteria. Job seekers are able to access this type of loan in Australia and in this article we will be looking at the financial institutions that provide this service.

Job Seekers Loan Providers In Australia

1. Cash Direct

Cash Direct provides job seekers with loan options ranging from $200 to $1,000. This type of loan from Cash Direct is only available to people who are already receiving regular job seeker benefits (from Centrelink).

Eligibility/Requirements:

• Applicant must be at least 22 years old but under Age Pension age
• Be looking for work
• Cannot work or study due to sickness or injury, even if you have a job or study to return to
• Have recently lost your partner.

Rates/Fees:

• A 20% of the principal paid as establishment fee
• 4% monthly fee

How To Apply:

• Visit Cash Direct job seeker loan portal
• Click on Apply Now
• Fill out the loan conditions form as it suits your needs and click on Apply Now
• To continue with the loan application, please check all the boxes in the warning note and click Apply Now
• Create an account with the accurate email address and a password that you can remember.
• Proceed to providing your personal data and await a response from the loan assessment team.
• Upon approval, funds will be disbursed into your account.

2. Good To Go Loans

Good To Go is a well-organized, reliable, fast paying loan provider in Australia. They provide various types of loans including unemployment loans.

Eligibility/Requirements:

• Applicant must be at least 18 years
• Have a steady source of income (even if it’s from Centrelink)
• Your loan application may be put into consideration even if you have a bad credit record.

Rates/Fees:

• Good To Go offers details on rates and fees specific to the type of loan you’re interested in. They therefore recommend calling their helpline at 1300 197 727 to get this information directly.

How To Apply:

• Visit https://www.goodtogoloans.com.au/cash-loans/
• Choose the amount you would like to borrow and click on Apply Now
• Complete the form that appears next, providing accurate information about the loan amount, your personal details, and your bank information. Your application will be reviewed, and if approved, the funds will be deposited into your bank account.

3. City Finance

City Finance also provides job seekers loan to citizens of Australia. These loans are available to those looking for employment or who have lost their jobs and need a means of survival. This lender provides loans ranging from $200 to $5,000 to job seekers and the unemployed who receive payments through Centrelink or Pension.

Eligibility/Requirements:

• Applicant must be at least 18 years old
• Have a steady source of income (even if it’s from Centrelink)
• Be an Australian resident.

Rates/Fees:

• For loan amounts of $2,000 or less:
  • 20% upfront establishment fee
  • 4% monthly maintenance fee
• For loan amounts between $2,001 to $5,000 (usually referred to as Medium Amount Credit Contract):
  • $400 establishment fee
  • 48% annual rate. All establishment fees are split across payments.

How To Apply:

• Visit the City Finance loans for unemployed portal
• Click on Apply Now
• Click on Start A New Application
• Use the sliders to choose a loan amount and repayment term. Also select a purpose for the loan and additional details in the box below.
• Click on Continue and proceed to providing your pesronal details as well as your bank statements.
• Once your application is submitted, await approval and funds disbursement.

4. Services Australia

Services Australia provides JobSeeker Payment to unemployed Australians. This payment is also available to people who are sick or suffer injuries and are unable to work or continue with school for a short while.

Eligibility/Requirements:

• Applicant must be between 22 years and Age Pension age
• Meet the income and assets tests
• Meet residence rules.

How To Apply:

• Sign in to myGov.
• Select Make a claim or view claim status, then Make a claim.
• Under Job Seekers select Get started.
• Select Apply for JobSeeker Payment and follow the prompts to complete your claim.