Short Term Loans

Does a Centrelink Payment Stop me Getting a Personal Loan?

At Credit24, we want to be there for you when you need a super-fast personal loan approval, because life doesn’t always afford us the luxury of leaping through all of the big banks’ hoops. Our personal loans are fast, the entire process happens online and we can help just about anyone out, no matter what situation you’re in.

Can anyone get a personal loan?

The short answer is yes – even those who are on Centrelink payments. But the long answer will take a little bit to explain.

In short, even if you’re on Centrelink payments of any type, you can still get a Credit24 loan, as long as you have a job and a monthly income of at least $1000.

The only real technicality here is that the Centrelink component of what you earn each month can’t be more than 50% of your income.

What sort of Centrelink payments can you be on?

We’re lucky in this country that our system financially looks after people for a huge number of reasons. Let’s explore a few of the payments you may receive but still allow you to be eligible for a Credit24 loan:

1. Students

Newstart is available for young people who are studying, while those over the age of 25 including apprentices can get assistance in the form of Austudy.

2. New parents

Another Centrelink benefit is a Parenting Payment, which supplements the income of eligible parents who are bringing up young kids up to the age of 8.

3. Carers

Carer Payments are for Australians who are looking after the elderly or those with disabilities and medical conditions.

4. The disabled

The Disability Support Pension is a Centrelink payment for those with physical, intellectual or other conditions that affect their ability to work full time.

But there are a range of other Centrelink benefits you could also be on without it necessarily affecting your eligibility to apply for a Credit24 personal loan – because we understand that all sorts of individuals require flexibility when it comes to an easy, fast and convenient loan process too. To find out more, read our detailed FAQs or skip straight to the online application process right now!