How to Get a $400 Loan Direct Lender in Australia

If you’re looking for a $400 loan, you might be wondering if there’s any way to get a great deal without having to go through the hassle of going to a physical bank. 

Well, there is! You can get a $400 loan direct lender in Australia online nowadays. Since they’re a private financial entity without an intermediary like an investment bank, they can easily disburse the money to you.

Keep reading to know the best $400 loans, their requirements, and the eligibility process. 

What this article covers:

Best Type of Small Loan to Get

The best type of $400 loan from a direct lender is a quick loan.

The main benefit of a quick loan is that it’s fast and requires less hassle. You can apply for small loans online, which means there’s no need to go into a bank or fill out paperwork in person. You also don’t have to wait days or weeks for approval.

400 loan direct lender

Eligibility and Requirements

The first step in getting a quick loan is knowing if you’re eligible. Even if you’re just applying for a $150 loan, most direct lenders will need you to:

  • Be at least 18 years old on the day of application
  • Have a permanent address
  • Have proof of income

For the requirements, they’ll usually look into the following:

  • 100-points of Identification
  • Contact Details
  • Employment Details
  • Online Banking Details

You’ll need to get your requirements ready since you’ll most likely need to upload them in real time once you go through applying for a 400-dollar loan. Also, it helps in processing your small loan fast.

400 loan

Process

The process of applying for a quick or micro loan is straightforward.

  1. Fill out the application form.
  2. Submit the required documents. 
  3. Wait for approval and disbursement.

Take Note

You must nominate a bank account when you take out a quick loan. This is not an optional step and must be completed before receiving your funds, since most direct lenders won’t give checks anymore. 

If you do not nominate an account, your application will either be returned to you or rejected. 

You should also ensure that the nominated account is in good standing and has sufficient funds available to cover the amount of your loan plus fees and charges. The balance must also not exceed the credit limit on the account.

Some direct lenders also have auto-deduct policies, so ensure that you read all their terms before applying for one. You might get shocked why your account has been debited suddenly. 

So, if you want a worry-free disbursement, especially if you’re looking for a higher amount, say, a loan of $1,000, make sure you have a valid nominated bank account.

400 dollar loan

Conclusion

It’s simple to get loans for 400 dollars in Australia through quick loans, but ensure that you have all the requirements and a valid nominated bank account to guarantee approval. So long as you’ve read and understand the terms of your direct lender, you’ll be in good hands.

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