Credit24 personal loans

Founded in 2012, Credit24 is a Sydney-based online lender. It is owned by IPF Digital group, an online provider of short and medium-term loans which has approved more than 200,000 loans. IPF Digital Group serves 2.5 million customers across 12 international markets and has been listed on the AIM London Stock Exchange since 2007.

While Credit24's operations are completely online, borrowers can apply for a loan 24/7 and are able to contact Credit24 seven days a week.

Nick Bendel

Property & Personal Finance Writer

Content updated

17 Oct, 2022

Product data updated

26 Apr, 2024

Why choose Credit24

Benefits

Easy application process
Same-day loans available
No annual fees

Drawbacks

Maximum interest rates are high
No branch access
Top-up and late fees charged

Personal Loans calculator

Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.

Your estimated repayments

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Compare personal loans

This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
The calculation rounds of the personal loan repayment to the closest dollar value without decimals.

All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
Calculator does not include the cost of fees or other extra charges.
Calculator does not account for changes to interest rates over time.
This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.

Features of a Credit 24 personal loan

Credit24 offers unsecured personal loans, with loan sizes ranging from $500 to $10,000 and loan terms of up to three years. Borrowers have the flexibility to choose their own repayment schedule.

Credit24 loan applications take just a few minutes to complete, and are done entirely online. The funds may be deposited in your bank account on the same day if all the required information is received.

Once you’ve taken out your loan, you can request a change to the repayment terms by emailing Credit24’s accounts team.

Credit24 does not charge annual fees, although establishment fees apply for loans up to $5,000. A monthly service fee is also applicable for loans of less than $2,000. The lender may also charge a late fee. However, Credit24 doesn't penalise you for paying off the loan early.

Credit24 offers a wide range of personal loans, including:

Holiday loans
Medical loans
Rental bond loans
Motorbike loans
Student loans

Credit 24 personal loans – customer service

Credit24 is an online-only lender. Customer service is available by:

Phone, Monday to Friday, 8am to 8pm (AEST), weekends 9am to 5pm (AEST)
Email
Online enquiry
Fax

Who is eligible for a Credit 24 personal loan?

To be eligible for a Credit24 personal loan, you must:

Be at least 18 years
Be a permanent resident
Earn at least $600 per month
Be employed and receive your salary in a bank account
Have a “reasonable” credit history

How to apply for a Credit 24 personal loan?

To apply for a Credit24 personal loan, you must fill in an online application form, which is available 24 hours a day. It should take about five minutes to complete.

Once you have compared your personal loan options, on the Credit24 website, click 'Start application' and complete the application form.
Credit24 will call you on your mobile phone if it needs to ask any follow-up questions.
Applications are processed within 48 hours. You will be notified of the result by text and email. If approved, you should receive the funds within one business day.

You will have to provide 100 points of identification and three months of bank statements. You will also need an active email address and mobile phone number.

Credit 24 personal loans review

Credit24 is an online-only lender that allows Australians to quickly and easily apply for personal loans over the internet.

A Credit24 personal loan can range from $500 to $10,000, with a maximum term of 36 months (or three years).

Credit24 assesses personal loan applications within 48 hours and pays out approved loans within one business day.

You may be eligible for a Credit24 personal loan if you’re unemployed or on Centrelink, as long as your Centrelink payments are no more than 50 per cent of your total income. If you're a pensioner aged 60-plus, you may be eligible to to apply even with Centrelink being your only source of income.

Credit24 also accepts applications from self-employed borrowers. In that case, you must provide your most recent tax notice of assessment to prove your income.

This lender's maximum interest rate is very high. If you have a good credit history, you're likely to find a lender with lower interest rates on the market.

Before applying for a personal loan, it's best to weigh up several personal loan options by comparing its fees, features and interest rates.

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About our expert

Nick Bendel

Property & Personal Finance Writer

A property and personal finance writer, Nick Bendel covered property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Credit24 personal loans

Why choose Credit24

Benefits

Drawbacks

Credit24 Personal Loans

Personal Loans calculator