What loan can you get on Centrelink?

The maximum we could lend with 100% Centrelink income is $10,000.
With security on your personal loan, you could borrow up to $30,0001

Table of Contents Show

What Our Customers are Saying About Money3 Loans
Loans on Centrelink Benefits
Example Centrelink Loans Costs Chart
Common Questions & Answers
What is a Centrelink loan?
How much could I borrow with 100% Centrelink benefits income?
Are all Centrelink benefits considered?
Do you offer loans for pensioners on Centrelink?
What documents or details do I need when I apply?
Can I get a loan on Centrelink with bad credit?
Can I get a Centrelink loan when on Jobseeker?
Can I get a car loan on Centrelink?
What loans are available through Centrelink?
Can I get a loan if I'm on Centrelink?
Can I get a $1000 loan from Centrelink?
Can I get an emergency loan from Centrelink?

Personal Loans
Secured Vehicle Loans
Centrelink Considered1
Bad Credit Considered1

What Our Customers are Saying About Money3 Loans

Loans on Centrelink Benefits

If you are receiving Centrelink and looking for a loan, then Money3 may be able to help.

Getting a loan on Centrelink may help in a number of circumstances, from managing unexpected one off expenses from car repairs, medical or vet bills, to assistance providing a bond or moving costs towards a new rental property. Travel and holiday loans are also available on Centrelink, as well as loans towards anniversaries, birthdays or other celebrations.

Whether your income is 100% from Centrelink benefits or a mix of earnings and benefits, your combined or total income must be over $2,080 a month in order to qualify.

Be Over 18 Years Old
Take Home Income( with benefits) over $480 a Week1
Be an Australian Resident
Get Your Income Paid into Your Account

If you are looking for a secured loan on Centrelink, then your weekly income must be over $480 a week to qualify1.

We will consider the following Centrelink benefits:

Single Parent Payment
Aged Pension
Child Care Benefit
Mobility Allowance
Centrelink Pensions
Disability Support Pension
Carers Payment Pension
Veterans Affairs Pension
Totally & Permanently Incapacitated Pension (T&PI)
Partnered Parent Payment
Jobseeker Payment*

Unfortunately, we are unable to consider the following benefits:

Youth Allowance
Abstudy
Austudy

* When accompanied with Family Benefits (A & B) or when as a low income supplement.

1. Subject to verification, suitability and affordability

Example Centrelink Loans Costs Chart

Borrow	Costs	Repay
$5,000	$2,211	$7,211
24 Months at 19.95% APR & 35.97% Comparison Rate
$7,500	$3,316	$10,816
24 Months at 19.95% APR & 39.00% Comparison Rate
$10,000	$6,803	$16,803
36 Months at 19.95% APR & 38.18% Comparison Rate
$12,500	$8,252	$20,752
36 Months at 19.95% APR & 37.19% Comparison Rate
$15,000	$9,701	$24,701
36 Months at 19.95% APR & 36.53% Comparison Rate

EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,210.20 and a total repayment of $7,210.20. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 35.97% EXAMPLE: A platinum secured personal loan of $10,000 for 36 months has fees and charges totalling $6,802.97 and a total repayment of $16,802.97. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 38.18% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.

Borrow	Costs	Repay
$5,000	$2,557	$7,557
24 Months at 25.00% APR & 44.43% Comparison Rate
$7,500	$3,835	$11,335
24 Months at 25.00% APR & 44.43% Comparison Rate
$10,000	$7,903	$17,903
36 Months at 25.00% APR & 43.47% Comparison Rate
$12,500	$9,627	$22,127
36 Months at 25.00% APR && 42.51% Comparison Rate
$15,000	$11,351	$26,351
36 Months at 25.00% APR & 41.87% Comparison Rate

EXAMPLE: A silver unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,556.20 and a total repayment of $7,556.20. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 44.43% EXAMPLE: A silver secured personal loan of $10,000 for 36 months has fees and charges totalling $7,902.74 and a total repayment of $17,902.74. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 43.47% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.>

Borrow	Costs	Repay
$5,000	$2,767	$7,767
24 Months at 28.00% APR & 47.66% Comparison Rate
$7,500	$4,150	$11,650
24 Months at 28.00% APR & 47.66% Comparison Rate
$10,000	$8,577	$18,577
36 Months at 28.00% APR & 46.62% Comparison Rate
$12,500	$10,469	$22,969
36 Months at 28.00% APR & 45.68% Comparison Rate
$15,000	$12,361	$27,361
36 Months at 28.00% APR & 45.05% Comparison Rate

EXAMPLE: A bronze unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,766.35 and a total repayment of $7,766.35. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 47.66% EXAMPLE: A bronze secured personal loan of $10,000 for 24 months has fees and charges totalling $8,576.21 and a total repayment of $18,576.21. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 46.62% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.

Common Questions & Answers

What is a Centrelink loan?

A Centrelink loan is a personal loan to suit people who are receiving Centrelink benefits. Many lenders will only consider income from earnings and often disregard income from benefits. Money3 will consider your income from earnings and benefits when assessing your loan application.

How much could I borrow with 100% Centrelink benefits income?

The maximum we could lend someone who receives 100% of their income from Centrelink benefits is $5,0001. A higher loan amount is possible, if the borrower has an asset such as a vehicle that could be used as security against the loan. Also see Centrelink Car Loans

Are all Centrelink benefits considered?

No, most are considered but not all. We are unable to lend against Newstart Alowance, Youth Allowance, Abstudy or Austudy.

Do you offer loans for pensioners on Centrelink?

The good news is yes we do1 offer flexible loans to pensioners on Centrelink.

What documents or details do I need when I apply?

The application process is quick and simple, so the information you need to complete your application should be easily on hand. You'll need to confirm your contact details, address, employment details and regular expenses. After that, due to responsible lending concerns, we require 90 days bank statements which can be given securely online in a few minutes.

Can I get a loan on Centrelink with bad credit?

Yes, you could1. Money3 likes to give everyone a fair go, so we will look at your application afresh, taking into consideration your current financial situation and your ability to repay your loan.

Can I get a Centrelink loan when on Jobseeker?

Yes, it is possible, when accompanied with Family Benefits (A & B) or when as a low income supplement.

Can I get a car loan on Centrelink?

Yes, it is possible1. The maximum you could borrow on Centrelink for a car loan or other vehicle on Centrelink is $75,000. However if 100% of your income is from Centrelink, then the maxiumum you could borrow is $30,000. Please see Centrelink Car Loans for more information or to get started.

1. Subject to verification, suitability and affordability

Also see:

Customers who have viewed this page and shown an interest in centrelink loans, have also visited the following pages:

Personal LoansCentrelink Car LoansSingle Parent LoansSingle Parent Car LoansPensioner Car LoansSecond Chance Car LoansHow to Get a Car Loan

What loans are available through Centrelink?

They can be Centelink loans, low income loans, bad credit loans, small payday loans, and micro loans for Centrelink customers. Centrelink recipients may also apply for Centrelink approved short term smaller loans.

Can I get a loan if I'm on Centrelink?

Loans on Centrelink Benefits Whether your income is 100% from Centrelink benefits or a mix of earnings and benefits, your combined or total income must be over $2,080 a month in order to qualify. If you are looking for a secured loan on Centrelink, then your weekly income must be over $480 a week to qualify¹.

Can I get a $1000 loan from Centrelink?

If you have larger regular Centrelink benefits from say Family Tax A&B, Carers allowance, Pension, we may be able offer you a larger loan of $1,000 to $2,000 depending on your budget circumstances. We just need to confirm your regular income can support a loan and your reasonable budget.

Can I get an emergency loan from Centrelink?

There are two types of emergency loans for people on Centrelink: Unsecured Small Amount Credit Contracts (SACCs) are used to provide loans between $300 and $2,000. They offer repayment periods between 16 days and one year. Fees are fixed and capped as a percentage of the loan amount.