Reserve Bank increased cash rate by 25 basis points to 4.25%. Benchmark standard variable rate to reach 7.38% this week. Plenty of competition in the market to compare and get a better deal.
Borrowers likely to be hit with rate rise
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Can I get a $1,500 payday loan with bad credit?
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.