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Payday Loans for Migrants

If you have migrated to Australia, we have all the information you need.

Get a quick estimate for loan
How much cash?
How long for?
Loan length:
APR:
Interest:
Pay by:
16 Days
728.9%
$7.72
23.1.2014
Total repayment:
$107.72

I am a migrant to Australia. Can I still get a payday loan?

Yes, you can. All migrants to Australia, irrespective of their country of origin, are eligible to apply for and get a payday loan, provided that they meet the requirements listed below:

I have a 457 visa to work as a skilled labour in Australia. Do I qualify for a payday loan?

Yes, you do. 457 visa is the commonest of all immigration visas to Australia. If you are working in Australia on a temporary basis with a 457 visa, you are likely to have been employed by an Australian employer. In that case, you can certainly apply for and get a payday loan. If not, you can still apply and allow the payday lenders to assess your application.

I have a visa that’s valid for 4 more years. However, I plan on visiting my native country soon. Does that make me ineligible for a payday loan?

No, it does not. If you meet all other requisite criteria, you can apply for a payday loan. Please note that if you have an outstanding loan on a bank account, you cannot choose to move, close or alter that account in any way until the loan is paid back.

I am a new migrant to Australia and do not have an established credit history. Can I still get a payday loan?

Although payday lenders do not tend to check credit reports unless absolutely needed, it will be difficult for you to get a payday loan unless you have managed to establish a credit history.

Enrolling for a bank account or credit card will automatically create a credit file for you that will keep getting updated as you earn and spend money.

Do I need to get a clearance from my employer before applying for a payday loan?

No, you need not. Applying for a payday loan will not need your employer’s approval. However, payday lenders may call or contact your employer to verify your employment status.

Is it possible for me to get a payday loan in a different currency?

No it is not. When you get a payday loan from an Australian payday lender, it will only be processed in Australian Dollars (AUD). If you wish to get it exchanged into another currency, you can request your bank to do it for you. Most banks provide currency exchange services at nominal commission rates.

Will there be any assistance provided to me regarding the application process or any other queries?

Yes, most payday lenders will be willing to help you out regarding the application process if you have any difficulties in understanding any clauses of the contract.

If you are not unsure about how to proceed, you can always contact the Australian Securities and Investments Commission helpline to seek help regarding credit and investments.

Payday loans

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