Loans for Single Parents | Bad Credit & Centrelink Okay

We provide loans to single parents across the nation

Being a single parent can be difficult. More importantly, children can be expensive. Whether it’s school fees or an emergency trip to the doctor, there is always something that is putting a strain on your budget. At Nifty Loans, we understand that with only one source of income, it is easy for bills to pile up. We provide quick online loans from $2,500 to $10,000. Whether you have been searching for ‘loans for single mothers’ or ‘loans for single parents’, we will have an option to suit your needs.

What are loans for single parents?

Personal loans for single parents are a type of personal loan that can be used to cover the expenses associated with supporting a child. In addition to this, fast cash loans for single parents can be used to cover other unexpected bills that may become difficult to manage because of your single income. Here are a few examples of what you could use your single parent loan to cover:

  • Car repairs
  • Car registration
  • Emergency medical expenses
  • Dental fees
  • Childcare costs
  • Education costs
  • Purchasing new white goods
  • School excursions
  • Home repairs
  • New appliances
  • A holiday for you and the kids
  • Travel costs
  • School uniforms
Who qualifies for single parent loans?

Along with being a single parent, we have a few other eligibility criteria all of our applicants must meet. Please ensure you can say ‘yes’ to the following before you apply:

  • Be at least 18 years old
  • Be an Australian citizen or permanent resident
  • Have been receiving a regular income into a personal bank account for the last 90 days
  • Have an active email address and mobile number
Can I get bad credit loans for single parents?

Are you worried about your credit score? We offer bad credit loans for single parents. If you have had trouble qualifying for loans from traditional lenders because of a poor credit history, a more alternative lender like Nifty may be your solution. We will look at things like your bank statements to get a better understanding of your current relationship with money, not just your past.

While we must still conduct a credit check as it’s required by law, we will not let a bad credit score stop you from accessing single parent finance. If your bank statements show you have the ability to make your repayments, we may be able to provide you with a personal loan.

Do you offer loans to single parents on Centrelink?

We consider most Centrelink income as regular income. If you are receiving a Parenting Payment, or another regular form of Centrelink income, we may be able to offer you a loan for people on Centrelink. We must be able to see that you have been receiving your Centrelink payments for the last 90 days into your personal bank account. This is to ensure that we have a realistic idea of your finances and that you will have the consistent income required to repay your loan.

Commonly asked questions about loans for single parents

How much can I borrow?

We offer two types of personal loans: medium loans and large secured loans. Medium loans range from $2,500 and $4,600; and large loans are for amounts from $5,000 to $10,000. The repayment terms and accompanying repayment fees will vary depending on how much you borrow.

What are the fees and charges?

This will completely depend on your current financial situation and the amount you are looking to borrow. For a more detailed breakdown, refer to our costs page or use our loan slider at the top of this page.

How do the repayments work?

We will set up a direct debit to be taken from your bank account in line with your pay cycle. This way you will not need to worry about making sure there is enough money in your account. Once your loan has been repaid in full, the payments will stop.

Ready to apply?

Personal Loan Details

Loan Amounts $5,000 – $15,000
Loan Terms 9 – 24 months
Starting Interest Rate (APR) 11.42% (Excellent Credit)
Starting Comparison Rate 14.49% (Excellent Credit)
Ceiling Interest Rate (APR) 21.24% (Average Credit)
Ceiling Comparison Rate 45.56% (Average Credit)
Type of rate Fixed Rate
Repayment options Weekly, Fortnightly, Monthly
Monthly Fee $0
Early repayment fee $0
Average turnaround 60 minutes*
Loan Options Unsecured & secured options

Credit criteria and terms and conditions apply. Representative example: based on a loan of $10,000 over 36 months a borrower with an excellent credit history can expect to pay a total of $12,389.76. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Interest rates vary subject to a full credit assessment. This represents a comparison rate of 14.49% p.a. and includes all interest and fees included in your loan repayments over the life of your loan. For our personal loan product the APR starts from a minimum of 11.42% (14.49% comparison rate) with a maximum of 21.24% (45.56% comparison rate). The minimum loan term is 9 months and the maximum loan term is 24 months. For more details and examples visit our rates and fees page.