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The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%
*Warning: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different rate.
Viva Payday Loans > Last Minute Loans

Last Minute Loans

What are Last Minute Loans

Last minute loans, as the name suggests, provide you with instant access to funds so you can make urgent payments. The application process is fast, easy, and online, and lenders are able to process your loan application and provide you with the loan amount within minutes. Many lenders also have a 24/7 operation, so you can apply for a loan at any time.

Types of Last Minute Loans

Mostly, last minute loans are available in the form of payday loans or cash loans, although many lenders use these terms interchangeably to represent the same loan product.

How it Works

Last minute loan providers have an online system that is mostly automated, so they can almost instantaneously process your loan application and provide you with approval based upon the submitted information. After approval, most lenders aim to disburse the loan amount within one hour so that the funds reach you within the same day.  

The loan amount with a last minute loan is usually capped at $2,000. Also, since these loans are given out based upon very basic background checks, the risk posed to the lender is higher, and hence these loans carry high fees and charges. 

The repayment timeframe is usually set within one year of loan disbursement, with repayments coinciding with the borrower’s payday. To make these loans affordable, regulators have capped the maximum charges at a 20% establishment fee and a 4% monthly fee, applicable to the principal loan amount. 

Examples of Last Minute Loans

LenderLoan Amount Loan Term Loan Disbursement TimeFortnightly Repayment (on a loan amount of $1,500)
Nimble Loans$2,00062 days to nine monthsOne hour, provided conditions are met$372
Sunshine Loans$2,000Nine to fourteen weeks30 minutes, provided conditions are met $396
Fair Go Finance$2,000Three to twelve monthsOne business day $354

Advantages and Disadvantages


  1. Easy and simple application form
  2. Quick application processing time
  3. Fast loan disbursement, usually within the same day 
  4. Limited fees and charges, to protect borrowers


  1. Small maximum loan amount
  2. Loan becomes very expensive over the duration of the loan term
  3. Loan term is usually limited to one year

Application Process

It’s important to compare all last minute loan providers in Australia before choosing one that best fits your needs and profile. You may apply at multiple loan providers for a last minute loan, although applying to many lenders at the same time can have a negative impact on your credit score. 

Once you have finalized a lender, go on its website and locate the online application form. Fill out all the required information as quickly as possible, and provide the necessary documentation to speed up the process. The entire application process should only take a few minutes. 

The lender will review your information and documents and give a loan decision very quickly. If approved, the funds should reach your bank account within hours. 


What is the interest rate applied on last minute loans?

Last minute loans, like payday loans or similar short term loans, don’t carry an interest rate. Instead, a monthly fee and establishment fee are applied to them, which has been capped at 4% and 20% by the regulators, respectively. 

Are there any other fees that I’d have to pay on last minute loans?

Yes, you might also have to pay default fees or early repayment fees on last minute loans, among other fees that have been laid out by the lender in the loan agreement. 

What is the maximum amount I can borrow under a last minute loan?

Usually, the maximum amount you can borrow under a last minute loan is capped at $2,000.