Are you in financial difficulty?
If you are having financial difficulties and would like to speak with someone for free financial advice, information and assistance, you can call the Financial Advisors Hotline on 1800 007 007 (open 9:30 a.m. to 4 p.m., Monday through Friday). If you are suffering from financial problems related to the coronavirus pandemic, you may be eligible for additional help.
â ï¸ Warning concerning the loan
Do you really need a loan today? *
Borrowing small amounts of money can be expensive, and borrowing may not solve your money problems.
Check your options before borrowing:
- For more information on other invoice and debt management options, call 1800 007 007 from anywhere in Australia to speak with a free, independent financial advisor
- Talk to your electricity, gas, telephone or water supplier to see if you can work out a payment plan
- If you are receiving government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The government’s MoneySmart website shows you how small loans work and suggests other options that may help you.
* This statement is a requirement of the Australian government under the National Consumer Credit Protection Act 2009.
How it works?
Perfect Payday connects borrowers with its network of lenders. Perfect Payday works by evaluating applications submitted by potential applicants and finding them a suitable loan. Borrowers must adhere to the loan terms and repayments set by the lender.
What are the types of payday loans?
The loans offered by Perfect Payday are small, short term loans. Applicants can borrow between $ 100 and $ 2,000 depending on their financial situation. As stated on its website, these payday loans can be an option if any of the following situations apply:
- Financial emergency. If unforeseen expenses arise, such as medical needs or an impromptu event they have to pay for.
- Need money before you get paid. If customers didn’t budget properly and ended up without enough money to cover them.
- Car repairs. If they have a car accident or their car breaks down and they need the money to fix it.
- Invoices and payments. If they forgot to pay a bill or make a payment and they don’t have enough money to pay it by payday.
Perfect Payday does not 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 repay $ 930. The $ 24 is made up of:
- Monthly fee – 4% of the principal amount.
If customers apply for and are offered a loan, they should check to see if set-up fees, monthly fees, and default fees apply and if they can afford them before signing the contract.
How to register
Potential applicants can apply for a perfect payday loan online. The form will be evaluated 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 information and also mention if they have experienced financial difficulties in the past 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 to those with bad credit history.
The eligibility criteria for these loans vary due to the wide range of lenders they work with and the different loans they offer. As a general rule, borrowers should:
- Be an Australian resident
- Be over 18 years old
- 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)