Fast personal loans
Looking for a personal loan with fast approval? Compare personal loans from Canstar’s Online Partners who promise loan approval within 24 hours for successful applicants, and read on to learn more about the pros and cons of these products. The products shown are sorted by Star Rating (highest to lowest) followed by comparison rate (lowest to highest) and then alphabetically by brand.

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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 1 year to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 5 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 3 years to 7 years
Fast quote. No account required.
Won't affect your credit score. GET YOUR RATE NOW.
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $575
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Annualised fee: $0
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Loan terms available: 3 years to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 5 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 1 year to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 3 years to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $0
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Annualised fee: $0
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Loan terms available: 1 year to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $300 up to $1200
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Annualised fee: $0
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Loan terms available: 1 year to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $300 up to $1200
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Annualised fee: $0
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Loan terms available: 1 year to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $575
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Annualised fee: $0
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Loan terms available: 3 years to 7 years
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Additional repayments
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Redraw facility
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Top-up facility
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Application fee: $175
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Annualised fee: $60
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Loan terms available: 0 to 7 years
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The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ p.a. (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, which impact the results displayed in the table - filters can be applied or removed at any time.
SPONSORED
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Rated 5 stars by Canstar for Outstanding Value for 3 years in a row.
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No early repayment, exit, or monthly account fees.
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Loans between $5,000 and $100,000.
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Interest rates displayed are 'from' price, rates can vary according to personal circumstances
What is a fast personal loan?
A fast personal loan, sometimes known as a quick personal loan, is a loan where the approval time is more rapid than a standard personal loan. This means that you may receive funds sooner than you would with a different type of loan. A variety of lenders around Australia, ranging from the big four banks to smaller lenders, offer both secured and unsecured personal loans with an approval time of 24 hours or less.
How do fast personal loans work?
Fast personal loans work in broadly the same way as standard personal loans, but with tighter turnaround times between application and approval.
Some lenders claim they can approve loans for successful applicants within an hour, and credit funds by the next business day, if not on the same day. Some banks and lenders even claim that they can deposit funds within the hour once approval has been granted.
After applying for the loan, you will receive a notification about whether you were successful, including a contract from the lender. Once this contract is signed, the funds will be deposited.
If you are considering signing up for a loan, it’s often wise to read the product disclosure statement (PDS) for information relating to key features, fee and other costs, benefits and risks. Lenders’ websites will typically have a dedicated section for these documents, and they should be able to provide an electronic copy on request.
Likewise, it is important to read your loan contract carefully before signing, so you know exactly what interest rate and fees you will be charged and how long the loan term will be.
How are fast personal loans different from payday loans?
When looking for a quick personal loan, you may come across a type of short-term loan called a ‘payday loan’, which is also known as a Small Amount Credit Contract (SACC). However, payday loans typically work differently from personal loans, and have to follow different government regulations.
Payday loans let you borrow up to $2,000, with a quick turnaround time, and a period of between 16 days and a year to pay back. Personal loans are typically used to borrow larger sums and repaid over a longer period.
Personal loans are structured like a traditional loan, where you pay back the amount you borrowed plus interest, according to a repayment schedule. Payday lenders cannot legally charge interest, but these loans typically charge extremely high fees. This means you may end up having to pay back significantly more than the amount you borrowed.
Payday lenders may be able to offer loans to people who need extra money to pay expenses, but who may not be able to get a loan from a mainstream lender, perhaps due to a poor credit score or inability to meet eligibility criteria. However, these types of loans can be extremely risky for consumers. The Government’s MoneySmart cautions strongly against payday loans, and the Financial Rights Legal Centre also warns against them, saying that they can lead to a ‘debt trap’ for people with financial problems.
As with any financial decision, it is important to read and understand the loan’s terms and conditions, including what could happen if you fail to meet your repayments. You could also review the Target Market Determination (TMD), which describes who might suit the product. These are typically available on the lender’s website.
How do you apply for a fast personal loan?
Most lenders will have an online application form that you can submit and complete through their website. Eligibility criteria will differ between lenders, but to apply for a personal loan, you will typically need to provide documentation such as:
- ID documents such as a drivers licence or passport to prove that you are aged over 18 and an Australian resident
- Proof of income, typically in the form of pay-as-you-go (PAYG) payslips from your employer, to show that you earn a regular income that is above your lender’s minimum requirements
- Proof of savings, typically in the form of bank statements, to give the lender a picture of how you manage your finances
- Your employment details for the past three years
- A list of any assets you own, including assets such as vehicles and property
- A list of any debts you may have, such as other personal loans or home loans, credit card debts and credit limits, outstanding buy now pay later (BNPL) balances and the like
- A list of your general living expenses, including groceries, utilities, streaming services, rent, medical and transport costs, school fees and so on.
You may not need to provide all of this information, although it may be advisable to have it on hand just in case.
Frequently Asked Questions about Fast Personal Loans
Latest in personal loans
Canstar Personal Loans Star Ratings and Awards
Looking for an award-winning personal loan or to switch lenders? Canstar rates products based on price and features in our Personal Loans Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall.
Canstar rates a range of financial products, covering banking, insurance and investment. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
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About our finance experts
Mark Bristow, Senior Finance Content Producer

Joshua Sale, GM, Research

As Canstar’s Group Manager, Research, Ratings & Product Data, Josh Sale is responsible for the methodology and delivery of Canstar’s Health Insurance Star Ratings and Awards. With tertiary qualifications in economics and finance, Josh has worked behind the scenes for the last five years to develop Star Ratings and Awards that help connect consumers with the right product for them.
Josh is passionate about helping consumers get hands-on with their finances. Josh has been interviewed by media outlets such as the Australian Financial Review, news.com.au and Money Magazine.
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Important information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.