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Centrelink Loans1

The maximum we could lend with 100% Centrelink income is $5,000.
With security on your personal loan, you could borrow up to $12,0001

  • Personal Loans
  • Secured Vehicle Loans
  • Centrelink Considered1
  • Bad Credit Considered1
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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 $1,600 a month in order to qualify.

  • Be Over 18 Years Old
  • Take Home Income( with benefits) over $400 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 $400 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
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Centrelink Loans up to $12,000

Example Centrelink Loans Costs Chart

Platinum
19.95% APR
Silver
25.00% APR
Bronze
28.00% APR
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
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
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

Common Questions

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 $50,000. However if 100% of your income is from Centrelink, then the maxiumum you could borrow is $12,000. Please see Centrelink Car Loans for more information or to get started.

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