At Spotter we offer fast and flexible payday loans between $200 and $2000.

How does a payday loan work?

A payday loan is a loan that is up to $2000.00. They are also known as small amount credit contracts (SACCs). These loans are typically paid back within a year. We offer a range of repayment options including 3 months, 6 months and 12 months to provide the most flexibility possible. The longer the repayment option for a payday loan the smaller each repayment is, which can make the repayments more affordable for you. Please ask our Spotter team about the different payday loan repayment options we have.

How fast could my load be approved?

Typically, we assess a loan within an hour of receiving it during working hours. Once we have all the necessary documents you could get approved within the hour and once approved payment is immediate from our side. Depending on your bank, you could receive payment same day but typically it takes 24 hours for your bank to process the payment.

Payday loan with bad credit?

We understand that people looking for pay day loan often have bad credit. We look at each case on its merits and bad credit will not preclude you for applying with us.  In fact, most of the files we look at have some degree of credit impairment. The big red flags we look at defaults on your credit file from other payday lenders indicating that you have a history of not paying back a previous payday loan, which will indicate you cannot afford a payday loan.

How much does a payday loan cost?

There is an example of a typical pay day loan cost at the bottom of this page. In the example, a 6-month loan for $1000 when fully paid back will cost you 1,440.00, assuming you don’t miss any payments. It’s important that if you are having issues with repayments that you get in contact with us so we can work out a new payment arrangement. We are flexible when working with our customers and the most important thing when taking out a payday loan is to keep in contact with us.

What will stop me getting a payday loan?

There are strict government regulations around applying for payday loans that must be followed, plus Spotter has its own lending guidelines outside of that. Being able to afford your payday loan repayments is critical. We will conduct a serviceability review to make sure the loan will not put you in financial hardship. Other things we may take into account are the percent of centerlink income you have, your credit file, defaults on your bank statement, excessive gambling and inconsistent income.

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