In a nutshell, Centrelink is a benefits program specifically fashioned for the people of Australia under the government department of Human Services. The aim of Centrelink is to offer assistance to pensioners, students, people with disabilities and those experiencing financial hardships, lower income or unemployment.

Sometimes, a Centrelink loan, otherwise known as an Advance Payment, can benefit individuals and families in mild financial crises. People who apply for Centrelink loans are often seeking money to assist in paying for expenses. Depending on the type of benefit you receive and the maximum and minimum payment amounts, a lump sum could be deposited into your account as an advanced payment to aid temporary monetary issues.

How are Centrelink loans applicable to me?

Centrelink loans are often confused with bad credit or quick cash loans. In either situation, they aren’t able to change your entire financial situation, as you’re only borrowing money. But, a loan could save you from more dramatic financial implications.

The Centrelink advance payment, or any other loan is immediate cash, which you can acquire by filing some documentation and adhering to a lender’s procedure.

If Centrelink doesn’t approve your advance payment, you may be eligible for the Cigno service. Help is always available, no matter your circumstance.

Requirements

Centrelink advance payments are approved every day. But there are some requirements and regulations for acquiring them. For example, you must be over 18 years of age and must provide valid proof of identification and age.

You must be an Australian citizen to receive this benefit. The applicant must also provide pay slips or proof of net income, and your credit history is also considered.

Short-term cash loans

If the Centrelink payment isn’t enough to cover your bills, several other options exist. The most popular are short-term cash loans, also known as payday loans. Unlike regular loans that can take weeks to reach you finally, payday loans are designed to be paid to your account as soon as possible. The term for a payday loan isn’t very long, and you’ll be expected to pay back what you owe using the money from your next work or welfare payment.

Some payday loan companies only deal with borrowers that are in full-time employment. At Cigno Loans, we offer short-term loans to Centrelink customers and those in work. Whether or not you have a good credit score is not important, as we don’t conduct credit checks in our assessment. As long as we can see that you have a steady income, we’ll be able to help you with instant cash solutions that meet your needs. In most cases, our fast loans can be paid out on the same day you apply.   

Application process

Another huge advantage of our payday loans is their easy application. We’ve designed an internet-based application process that makes our service far more practical and convenient than ever before. You can apply online through our website anytime, and we do everything we can to ensure the money reaches your account within hours.   

It can be tough living on a restricted income outside of work. We understand that balancing things can be tricky at the best of times, especially as all it takes to put you in a real pinch is for an unforeseeable cost to turn up suddenly. All you need to apply for one of our loans online is your most recent bank statement showing your income from Centrelink or your place of work and a government-issued ID.   

Not only is our application process very simple, but we also allow you to pick the amount you want to borrow. We offer loans up to $1000 and will provide you with an offer of the amount we think is most suitable for your circumstances after we have processed your application. Taking the minimum you need to cover your most urgent costs is highly advisable and will help ensure you can pay what you owe comfortably. 

Repayments

The best way to attack your money worries is to practice being as sensible with money as possible. We believe in providing short-term loans the right way, which is why we make all of the charges and rates in our loan terms as clear as possible in our offers. This helps you make a perfectly informed decision and be sure of all conditions before you agree to anything.

We also understand how easy it can be to forget certain dates down the line, which is why we’ve built helpful notifications into our process that keep you updated on your upcoming repayment days. When you have to manage a tight monthly budget, it’s never a bad idea to try and cut down on unnecessary spending as much as possible.

If you receive Centrelink payments and have a bad credit score, you can still access quick funds in emergency situations. Don’t like the idea of applying online? We have a friendly customer service team that will be happy to help you complete your application over the phone.   

Disclaimer: Please be aware that Cigno Loans’ articles do not replace advice from an accountant or financial advisor. All information provided is intended to be used as a guide only, as it does not take into account your personal financial situation or needs. If you require assistance, it is recommended that you consult a licensed financial or tax advisor.