Payday Loans Deposited on Weekends Australia

We’ve all had our fair share of financial difficulties from time to time, so what do we do when it’s a weekend? Banks are off, so conventional loans aren’t an option. Is there a way you can get payday loans deposited on weekends in Australia? If so, you can pay off your credit card purchases, costly bills, and hefty fees without sacrificing your weekend plans!

What this article covers:

What Are Weekend Payday Loans?

With banks being off on weekends, only lenders grant payday loans deposited on weekends. These small payday loans give you extra cash to cover sudden emergencies, such as car repairs, utility bills, and medical bills. Also, they can help you afford weekend activities, including concert tickets, last-minute getaways, adventures, and outings.

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As short-term loans, payday loans are small amounts (ranging from about $300 to $5,000). They bridge the gap between the weekend and payday, which makes them perfect for urgent expenses that can’t wait till your next payday or bank transfer. You can get your loan in hours or even minutes and repay it on your next payday or several ones over three to 24 months.

Can I Get a Weekend Loan?

You may, but note that not all private lenders offer payday loans or weekend payouts. Some allow 24/7 applications but only accept applications and transfer funds on weekdays. Also, think about banks in Australia, specifically their transfer pacing and off times. Do they process payment deposits on weekends?

With that in mind, you should check that you’re working with a lender who offers payday loans weekend payout Australia and have the funds deposited to a bank that’ll support the transfer in time.

Who Can Apply for Weekend Loans?

You can get weekend payday loans in Australia if you meet the eligibility criteria, which are:

  • To be 18 or older
  • To have Australian citizenship or permanent residency
  • To have a checking account
  • To have regular, sufficient income (compared to the loan amount)

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How Can I Apply for Weekend Cash Loans No Credit Check?

Weekend payday loans, no credit checks are easy to get. The application process is composed of three steps.

1. Fill Out the Online Form

With online applications open on weekends, you can fill out the form. Specify your expected loan amount, loan term, and the reason you need it. Also, provide your personal information and required documentation, including your:

  • Full name
  • Physical or residential address
  • Contact details, including your mobile number, telephone number, and email address
  • Gender
  • Occupation (by providing pay slips, job history, or other documentation forms)
  • Qualifications and Education
  • Bank account details
  • Bank statement data for the 90 days before your application
  • Credit requests you have made with us
  • 100-points of identification
  • Tax returns for the past two years
  • Evidence of your borrowing history (such as loans and mortgages)

2. Get Paired With a Lender

We’ll start searching for a lender who works on weekends and would be willing to approve your loan application. Once we find them, we’ll connect you with a reputable lender so that you can deal with them directly.

payday loans deposited on weekends

3. Receive Your Loan

The potential lender will take a look at your income, spending habits, recent transactions, expenses, current debts, and credit report to determine your suitability for the loan. If they approve your application, they’ll draft a loan contract, which you should go over (preferably with a financial and legal consultant) to see if its terms are suitable for you or not.

After you sign the loan agreement, they’ll contact you to decide how you should receive the funds. Again, choose a bank that processes transfers on the weekend.

How Much Will My Loan Cost?

If your loan is a Small Amount Credit Contract (SACC) of up to $2,000, you’ll pay a maximum of:

  • 20% establishment fee
  • 4% monthly flat rate
  • Default fees and enforcement costs
  • Government fees (if applicable)

However, a Medium Amount Credit Contract (MACC) that’s over $2,001 and under $5,001 can have fees up to:

  • 20% establishment fee
  • 48% interest rate

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These regulations set by the Australian Securities and Investments Commission (ASIC) help protect you as a borrower because payday loans are known for their relatively high Annual Percentage Rates (APRs).

Undoubtedly, the exact cost of your loan will depend on your loan amount and the repayment period. If you shorten the loan term, you’ll pay less on monthly charges.

Can I Get a Weekend Payday Loan With Bad Credit?

Yes, many payday loan providers don’t check your credit history or fixate on your credit score. So, they’ll assess your current finances and approve your loan application if they confirm that you can repay it comfortably.

Advantages and Disadvantages

Are you unsure if getting an urgent payday loan is a good idea? Let’s consider the pros and cons.

Advantages

The perks of getting instant weekend payday loans in Australia include:

Weekend Payouts

The main benefit is the 24/7 payday loan availability. While many lenders and banks only approve loans on weekdays, these payday loans with weekend payout help you respond to financial emergencies no matter the day.

weekend cash loans no credit check

Fast Processing

When you apply for a payday loan, lenders understand that punctuality matters. So, they provide you with simple online forms, no paperwork, fast processing times, and easy approvals. This way, you can get same-day loans; it might even be a matter of minutes!

No Collateral

Usually, you don’t have to offer collateral for a payday loan, which means you don’t need to risk an asset for these unsecured payday loans. After all, these loans are small, short-term payday loans. Otherwise, MACCs might be secured loans.

Disadvantages

Some drawbacks to weekend payday loans are:

Cut-off Times

Some lenders only grant you loans on the weekend if you apply for them before a particular cut-off time on a banking day, such as 2:30 or 4:30 PM. Accordingly, they won’t help you if your emergency occurs past that time.

High Costs

Payday loans are relatively more expensive than other loans. After all, they usually don’t come with collateral to minimise the risk, and you need fast funding. Thankfully, the ASIC restrictions hold lenders accountable and stop them from charging unfair fees.

payday loans weekend payout

Final Words

When banks are closed, and many lenders are off, weekend loan providers work 24/7 to provide you with fast cash. These short-term loans bridge the gap between the weekend and your payday. This way, you can afford your weekend expenses, unplanned purchases, and spontaneous getaways!

Was the guide helpful? Check out these extra resources to delve deeper: