Are you struggling financially?

If you’re struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support.

⚠️ Warning about Borrowing

Do you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

How does it work?

Perfect Payday connects borrowers with its network of lenders. Perfect Payday works by assessing applications submitted by prospective applicants and finding them a suitable loan. Borrowers need to follow the loan terms and repayments set by the lender.

What are the types of Payday Loans?

The loans on offer from Perfect Payday are small, short-term loans. Applicants can borrow between $100 and $2,000 depending on their financial situation. As listed on its website, these payday loans might be an option if any of the following situations apply:

  • Financial emergency. If unexpected expenses come up such as medical needs or a spur of the moment event that they need to pay for.
  • Needing money before they next get paid. If customers have not budgeted properly and found themselves without enough money to cover them.
  • Car repairs. If they get into a car accident or their car breaks down and they need money to get it fixed.
  • Bills and payments. If they have forgotten to pay a bill or make a payment and won’t have sufficient money to pay it until payday.


Perfect Payday doesn’t charge applicants fees, these fees are charged by the individual lender. For an average payday loan, they can expect to pay $24 for every $100 they borrow. So, for example, if customers borrow $400, they will repay $496 and if they borrow $750, they will pay back $930. The $24 is made up of:

  • Monthly fee – 4% of principal amount.

If customers apply and are offered a loan, they need to check if any establishment fees, monthly fees and default fees apply and if they can afford them before signing the contract.

How to apply

Prospective applicants can apply for a Perfect Payday Loan online. The form will be assessed and they will start to find lenders for them. They can then electronically sign the loan agreement and receive the funds.

The application process requires customers to provide personal details and they also have to mention if they have experienced financial hardship in the last six months. Perfect Payday does not perform credit checks, although some lenders they work with do. Customers can still apply if they have a bad credit history as they work with lenders who lend those with adverse credit history.


The eligibility criteria for these loans vary because of the wide range of lenders they work with and the different loans they have on offer. Generally, borrowers need to:

  • Be an Australian resident
  • Be aged over 18 years
  • Have an active bank account
  • Be able to provide proof of your identity
  • Have a regular source of income paid into your bank account (not in cash)