3 Best online loan providers in Australia

Are you looking for an online loan that allows you to access money quickly? There are a variety of options out there, but it can be challenging to know which is right for you.

Making the right decision on an online loan provider requires careful research and consideration. The different lenders you can find vary significantly in terms of both the convenience of their services and the total value of the finance arrangements they offer.

Remember; borrowing money is something you need to think carefully about and have a legitimate reason for. Don’t borrow on a whim or to buy something you don’t really need!

Top Australian online loan providers:

Below are the 3 best online loan providers, according to our internal research and evaluation.

1. SpotMeNow


SpotMeNow is an online loan provider whose speciality is providing fast, flexible, and near-instant loans. How do they do this? SpotMeNow leverages advanced real-time risk assessment technology that enables their team to make instant loan approval decisions.

Online and available 24-7, loan applications can get a quick decision and the money can be transferred within the same business day. SpotMeNow’s loans are highly flexible, allowing anyone who meets the eligibility criteria to borrow from $1000 to $5000 with flexible repayment terms.

SpotMeNow is upfront with its fee structure and has nothing hidden in the fine print for anyone borrowing to worry about. With the total costs of each loan stated clearly, potential customers can make a fully-informed decision about whether or not to proceed.

The online member’s dashboard each customer signs up to makes it easy for them to manage their repayments and stay on top of the loan. They also have 24-7 online support available to help their customers with any questions or concerns they may have.

2. CashnGo


CashnGo is a short term finance lender delivering quick loans to those who need some extra cash in a hurry. They provide access to loans of $300-$2000 with flexible repayment options, allowing potential customers to set up their repayment calendar before confirming their application.

CashnGo is fully-transparent with what the total repayment amount of each loan will be, with an emphasis on ensuring their customers are comfortable with the arrangement they enter into. Anyone with a steady income can apply for a loan from CashnGo, and applications can be submitted online 24-7.

Applying for a loan is easy with CashnGo, and they utilise intelligent technology to provide a fast approval decision. Upon approval, funds are also transferred almost instantly (although bank transfer delays can be unavoidable).

3. Moneyspot 


Moneyspot provides hassle-free personal loans that are 100% online and processed on a 24-7 basis. Designed for short-term borrowing to cover financial shortfalls, Moneyspot loans can be applied for up to a 20 week period and allow customers to borrow between $200 to $5000.

They offer personal or instalment loans from $200 to $3500 with a quick application and approvals process. Moneyspot typically processes, approves, and sends funds within an hour (or the next day if applied for outside business hours).

With a commitment to responsible lending, Moneyspot provides a cash loan calculator that allows potential customers to gauge what their repayments would look like before they finalise their application. Through their stringent eligibility standards, Moneyspot ensures that only employed individuals who can repay the loan are approved.

Who will you choose?

While the short term finance lenders above all operate in similar ways, they differ subtly in terms of both the amount that can be borrowed and the specific terms of their loans, as well as the speed in which money can be approved and transferred. Ultimately, you will need to decide which borrowing option is most convenient and beneficial for you depending on your own individual circumstances.


Samantha Rigby
Samantha Rigby
Samantha is the head of content, lifestyle and entrepreneurial columnist for Best in Australia. She is also a contributor to Forbes and SH. Prior to joining the Best in Au, she was a reporter and business journalist for local newspapers.
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