Short Term Loans
Short Term Loans
What Are Short Term Loans?
Short term loans are small personal loans from $300 to $2,000. You can repay this loan over a period of up to 6 months. Short term loans have a standard establishment fee and a monthly fee that is applied to each repayment.
What Can I Use A Short Term Loan For?
- Urgent car or bike repairs
- Holiday or work travel
- Home repairs or to replace white goods
- School fees, school excursions
- New technology – e.g. a laptop or tablet
- Unplanned emergencies or unexpected bills
Convenience
Its so easy to apply with Wonder Loans, there’s absolutely no paperwork! Our loan application process is 100% online and it is simple to use, it is streamlined and totally secure. You can conveniently apply from any device: your mobile; tablet; laptop.
Short term loans are one of the most convenient ways to borrow money when you urgently need cash to deal with expenses that need to be paid ASAP. You can apply for short term loans 24/7 and it takes only 5 minutes.
What’s Required?
To be eligible to apply for one of our short term loans, you need to be a permanent Australian resident over the age of 18, and you must be receiving a regular income into a bank account.
How Do Short Term Loans Work?
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Apply Online In 5 Minutes
Our loan application process is fast, efficient and clear. Use any connected device to apply online. -
Get Approved & Confirm Your Loan Online
If you meet our lending criteria, we will notify you via email/SMS to digitally sign your contract online. We verify the assessment information you send us in a very secure manner, without tons of paperwork. Our entire process is online and we keep you informed at every stage of the process. -
Get Funds Same Day
If approved before 5pm, we will deposit funds into your account same day. All approved loans are paid as soon as they are approved. Depending on your bank, you will receive your money on the same day as you apply, Monday – Friday.
Apply for a short term loan today.
Example of a Short Term Loan (Small Amount Credit Contract)
You need a loan of $1,000 for unexpected expenses. You apply online and you choose your loan amount and your repayment term. You choose to pay it back in 10 payments of $132 per week.
$132 x 10 Repayments per week = $1,320 Total Amount Repaid
Loan Payment Details
| Item | Amount/Details |
|---|---|
| Adjusted Credit Amount | $1,000.00 (the amount that you receive) |
| Establishment Fee | $200.00 (set by NCCP at 20% of the loan amount) |
| Monthly Permitted Fee | $40.00 per month |
| Amount of Credit of the Loan | $1,240.00 |
| Nominal Percentage Rate (Interest) per annum | 0% as defined by NCCP |
| Comparison Rate | 201.9447% as defined by NCCP |
| Total Amount of Interest Payable | NIL |
| Total Number of Repayments | 10 |
| Repayment Amount | 10 repayments of $132.00 |
| Total Amount Repaid | $1,320.00 |
These examples assume that repayments are made on time as per the original loan contract terms. For more information on our fees see our Costs Page.
Note: NCCP refers to the National Consumer Credit Protection Act 2009, which regulates consumer credit and lending practices in Australia.
