Important disclosure

Personal loans for casual workers

Your work may be on and off, but that doesn’t mean applying for credit should be hit or miss. Compare personal loans for casual workers now to find lenders that understand your budget and needs.

Calculate your repayments

Loan Amount

$10,000

Term

3 months

OurMoneyMarket

Low-Rate Personal Loan - Excellent Credit - Zero Fee

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Plenti

Unsecured Personal Loan - Exceptional Credit

EST Monthly Repayment
EST Monthly Repayment
6.57%
Advert. Rate (p.a)
Comparison rate
An award-winning, low interest personal loan with no ongoing fees. Get your rate in 60 seconds and bring your big ideas to life today.
Now Finance

NOW Finance Unsecured No Fee Personal Loan

EST Monthly Repayment
EST Monthly Repayment
6.75%
Advert. Rate (p.a)
Comparison rate
Pay ZERO fees on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. Comparison rate can vary from 6.75% to 26.95% p.a.*
Liberty

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
7.24%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
MoneyPlace

Unsecured Personal Loan - Fixed (Excellent credit)

EST Monthly Repayment
EST Monthly Repayment
7.24%
Advert. Rate (p.a)
Comparison rate
Our loans are better because we understand you better. A range of personal loans, for all the right reasons.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Secured) - Very Good

EST Monthly Repayment
EST Monthly Repayment
6.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Good

EST Monthly Repayment
EST Monthly Repayment
7.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Harmoney

Unsecured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
5.76%
Advert. Rate (p.a)
Comparison rate
Get what you want, without breaking the bank. Fast, easy & 100% online. Borrow up to $70,000 unsecured. No hidden fees or early repayment penalties. Harmoney's unsecured interest rates range from 5.76% p.a. to 24.03% p.a.
OurMoneyMarket

Low Rate Personal Loan (Fixed, Unsecured) - Average

EST Monthly Repayment
EST Monthly Repayment
8.49%
Advert. Rate (p.a)
Comparison rate
OurMoneyMarket are a multi-award winning Aussie finance provider offering simple, fixed, low-rate loans from $2,000 to $75,000, plus free extra repayments and free early exits. Apply online to get a quote in minutes and funds as soon as the next day.
Liberty

Secured Personal Loan - Excellent Credit

EST Monthly Repayment
EST Monthly Repayment
6.52%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
MoneyPlace

Secured Personal Loan - Fixed (Excellent credit)

EST Monthly Repayment
EST Monthly Repayment
6.66%
Advert. Rate (p.a)
Comparison rate
Secure your personal loan with a vehicle you own as security to access a lower rate, a higher lending limit, or both.
Plenti

Plenti - Personal Loan - Very Good Credit

EST Monthly Repayment
EST Monthly Repayment
12.49%
Advert. Rate (p.a)
Comparison rate
An award-winning, low interest personal loan with no ongoing fees. Get your rate in 60 seconds and bring your big ideas to life today.
Liberty

Secured Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
10.34%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Offering the certainty of fixed repayments at a rate just for you.
MoneyPlace

Secured Personal Loan - Fixed (Good credit)

EST Monthly Repayment
EST Monthly Repayment
10.57%
Advert. Rate (p.a)
Comparison rate
Secure your personal loan with a vehicle you own as security to access a lower rate, a higher lending limit, or both.
Liberty

Unsecured Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
11.49%
Advert. Rate (p.a)
Comparison rate
Loans for free thinkers. Starting out or starting over? Get fast access to the funds you need.
MoneyPlace

Unsecured Personal Loan - Fixed (Good credit)

EST Monthly Repayment
EST Monthly Repayment
11.49%
Advert. Rate (p.a)
Comparison rate
Our loans are better because we understand you better. A range of personal loans, for all the right reasons.
Bankwest

Flexible Personal Loan

EST Monthly Repayment
EST Monthly Repayment
10.99%
Advert. Rate (p.a)
Comparison rate
Whatever it is you’re dreaming about, a Bankwest Flexible Personal Loan puts you in control. Pay it off early, make additional repayments and redraw additional repayments you’ve made all at no extra cost!
St.George Bank

Unsecured Personal Loan (Fixed)

EST Monthly Repayment
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.
St.George Bank

Unsecured Personal Loan (Variable)

EST Monthly Repayment
EST Monthly Repayment
12.99%
Advert. Rate (p.a)
Comparison rate
Whether you're taking control of your finances, planning a special event, or making a large purchase, our Unsecured Personal Loan may be the right solution.
Westpac

Westpac Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
11.99%
Advert. Rate (p.a)
Comparison rate
A personal loan can help you to get what you’ve always wanted. Plan ahead with a flexible loan term of between 1 and 7 years. Apply for between $4,000 and $50,000 (conditions apply). Make extra repayments to pay your loan off sooner (prepayment fee may apply). Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.
NAB

NAB Variable Rate Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
1-7 years flexible loan term, borrow from $5,000 up to $55,000 and redraw additional repayments you've already made
NAB

NAB Fixed Rate Personal Loan

EST Monthly Repayment
EST Monthly Repayment
12.69%
Advert. Rate (p.a)
Comparison rate
Borrow from $5,000 up to $55,000 for 1 to 7 years flexible loan terms
Wisr

Platinum Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
11.40%
Advert. Rate (p.a)
Comparison rate
Wisr provide personalised low rates for applicants with good credit. Borrow between $5,000 and $50,000 with transparent terms and easy online application.
People's Choice Credit Union

Unsecured Personal Loan

EST Monthly Repayment
EST Monthly Repayment
13.99%
Advert. Rate (p.a)
Comparison rate
As a member owned organisation, our first priority is to help you. We continually focus on providing high levels of personalised service and value for money products – such as our Personal Loans– there to help you make those life-changing purchases.
Plenti

Plenti - Personal Loan - Good Credit

EST Monthly Repayment
EST Monthly Repayment
14.49%
Advert. Rate (p.a)
Comparison rate
An award-winning, low interest personal loan with no ongoing fees. Get your rate in 60 seconds and bring your big ideas to life today.

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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What type of loan are you looking for?

Loans for casual workers – Find flexible finance that suits you

One of the perks of casual employment is the flexibility to take time off when needed. But bills and expenses rarely go on holiday and, once in a while, you may need to apply for a loan to cover ongoing cash flow needs or for other purposes. While it’s harder to secure a personal loan when you are a casual employee, learning more about the process can help upgrade your chances.

Who can apply for a personal loan for casual workers? Are part-time workers included?

There are over 2.6 million Australian casual workers. Whether you’re a retail staff working to a laidback roster, an office worker for a seasonal business, or a student making a few bucks in-between classes, you can apply for a personal loan for casual workers if you:

  • Have no guaranteed work hours
  • Work irregular hours
  • Are not eligible for sick leave, annual leave, or other paid leave entitlements (no work, no pay)
  • Have no commitment from your employee about how long you’ll be employed
  • Are eligible for casual loading, which is an extra wage meant to make up for the lack of job security and paid leave benefits
  • Can quit your job without notice (this depends on the nature of your contract)

In contrast, a part-time employee works regular, paid hours (less than 38 hours) each week. They’re also entitled to the same paid leave benefits available for full-time workers and are generally on a permanent or fixed-term contract. There are, however, loan options for both casual and part-time workers in Australia.

What makes my situation different as an applicant who is casually employed?

When set side by side, most credit providers would prefer to do business with a full-time employee than a casual one. The discrimination is based on how much risk the lender is willing to put up with. In most cases, casual employees represent a higher risk due to:

  • Unreliable work and income stability. As explained above, casual employment is defined by its irregular hours and lack of guaranteed work. That means your income stream could be flooding in one moment then suddenly dry up. Finance providers are more interested in your ability to pay back what you owe, so this unpredictability makes you less of an ideal borrower.
  • Non-existent paid leave benefits. Without sick leave, holiday leave, or other paid entitlements, your ability to cover repayments could be affected each time you are off from work. Again, this increases the lender’s risk making it tougher to secure credit.

Luckily, even with these downsides, borrowing money is not out of the question as long as you meet the lender’s conditions. For instance, you may need to have a longer employment history and a good credit rating.

Where can I get a personal loan for casual workers?

Major banks and other well established financial institutions generally have stringent lending criteria that tend to lock out casual workers. But in the world of alternative lending, you can find smaller banks and online lenders that are willing to service casual employees. However, these lenders require that you:

  • Be at least 18 years old
  • Have a minimum annual income
  • Be in regular employment of at least 6 or 12 months with the same employer
  • Have room in your budget to cater to your repayments after usual expenses
  • Provide essential application documents such as driver’s licence, payslips, bank statements, tax returns, and other necessary paperwork.

How are personal loans for casual workers different from loans for full-time workers?

Personal loans for casual workers are generally not on the same page as those for full-time employees in terms of the following:

  • Interest rates. Casual employees weigh more on the risk scale, so lenders tend to charge higher than average rates. This helps to deflate the lender’s risk. That means casual employees can expect to meet higher borrowing costs, and therefore, higher repayments.
  • Qualifying criteria. To make a fair assessment of the casual employee’s ability to make repayments, the lender looks at a much bigger picture of their income history. They then estimate an annual income as a workaround for the income fluctuations common to casual workers. By looking at a bigger chunk of a worker’s previous earnings, the lender can also determine their income consistency. A higher annual income that is consistent will likely receive a more positive review from the lender.

How do I improve my chances of loan approval as a casual employee?

It’s not always rosy for borrowers without fixed hours and a fixed income. But there are a few tips and tricks you can use to get the lender on your side:

  • Provide collateral. Secured loans not only offer lower rates, but the lender is more likely to sign off on your application. That’s because they can claim your car, home, or any other asset you use as security if you default.
  • Smarten up your credit score. This generally includes making repayments on time and sorting out errors in your credit file. A good credit score and clean credit history may earn you more points in the lender’s book.
  • Go easy on the applications. If a lender looks at your credit report and sees a string of credit applications, they might view you as a reckless borrower.
  • Get help from your employer. If possible, ask your employer if they can put in a good word for you. A letter that assures the lender of your continued employment might strengthen your application.

How do I know which personal loan is right for me?

Having a casual job doesn’t mean you’re stuck with poor loan offers. If you invest time into shopping for a personal loan, you can end up with a deal that’s flexible enough to meet your financial needs. Here are some factors to consider:

  • Interest rate and fees. First, choose the interest rate type you want between fixed and variable. Next, go for the lowest rate available to you. Remember to check if fees and charges are also affordable.
  • Repayment options. Use our calculator to figure out what you can afford to pay per month. Increase your loan term if you want smaller repayments but bear in mind that this raises your borrowing costs.
  • Secured vs unsecured. Each option has its pros and cons. You can read up on secured personal loans and unsecured personal loans to decide which loan type is suitable for you.
  • Other features. Personal loans come with various features, including extra repayments and redraw facilities. Explore all these options until you find a tailored solution for your unique situation.

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