Can I Get a Loan While On Centrelink?
For those receiving regular Centrelink payments, further monetary relief might seem like a pipedream. Whether you need emergency repairs on a car, a replacement washing machine, or even just a small amount to cover yourself until payday, loans can be a highly valuable resource. But even if you receive Centrelink payments, you may still be eligible for a fast cash loan. Read on to learn how you can get a loan while on Centrelink.
Overview
- Before you apply
- Benefits vs Income
- Common Centrelink payments
- How does receiving Centrelink affect my loan eligibility?
- What if Centrelink is my only income?
Before you apply
Budgeting and managing finances while receiving Centrelink payments can be challenging. So before firing off any applications, it’s important to think about your reasons for getting a loan, and whether there are any alternatives available.
If you want to explore your options, the National Debt Helpline is a free resource available to Australians looking for financial counselling.
Benefits vs Income
Centrelink payments, also known as Centrelink benefits, are provided to those who meet certain requirements depending on which service they choose. Some Centrelink benefits are more likely to be as accepted as income for the purpose of applying for a loan. These include:
- Age Pension
- Disability Support Pension
- Family Tax Benefit
Other benefits that might not be sufficient for loan approval include:
- Youth Allowance
- Job Seeker Payment
It’s best to check with the eligibility requirements with your lender before applying for loans on Centrelink. Below we’ve explored some of the different types of Centrelink payments.
Common Centrelink payments
Centrelink payments are made to a broad cross-section of Australian society, from young to old. With such a diverse range of payments, Centrelink have divided up their benefits into distinct categories to suit the needs of specific people.
To help our readers better understand the kinds of payments Centrelink offers, we give a brief overview of some of the most common payment types below.
Parental Leave Pay
This payment helps financial support families with a newborn/recently adopted child. If you’re a new parent taking the time off work you are eligible for this service. From the 1st of July 2025, You will receive 120 days or 242 weeks of parental leave pay, and you can use it on the days you are not working. The ATO will even pay a superannuation contribution on your parental leave pay. You have 2 years after the child is born/comes into your care to use all your parental leave pay.
Family Tax Benefit
Family Tax Benefit supports you and your family when raising your children. There are many requirements that apply with this benefit, which will depend on your income, child’s age and study requirements of the child.
Youth Allowance
This payment option financially helps people aged 24 or younger who are studying or looking for work. Youth allowance provides support for Australian citizens who are studying, taking on an apprenticeship or living independently while studying.
Job Seeker Payments
This payment provides financial help to a person who is between 22 and pension age who is currently looking for work. This also works if you are sick or injured, or need to stop work for study.
Rent Assistance
Rent Assistance is a regular extra payment to support you while paying rent or inbetween home addresses. You can get rent assistance while receiving other loans too.
Disability Support Pension
This payment is accessible to you when you have a physical, intellectual or psychiatric condition that is likely to persist for more than 2 years and stops you from working.
Carer payments
This payment is for when you are in constant care of someone with a disability, medical condition or someone near the end of their life. This payment can be received for at least 6 months and will depend on your income or your partner’s income.
Age pension
Age pension is a payment to support you after retirement as an Australian citizen. This centrelink payment can start at 67 years old.
How does receiving Centrelink payments affect my loan eligibility?
We’ve all been in emergency situations that require a loan fast. But you might be unsure about how yourCentrelink payments come into play. While receiving Centrelink payments doesn’t disqualify you from being approved for a loan, there are certain caveats.
To qualify for loans on Centrelink, you will still need to meet the lender’s eligibility and lending criteria. Every lender’s criteria is different, but typically you’ll need to:
- Be over 18 years old
- Be a permanent resident or valid visa holder of Australia
- Be employed for at least three months
Some loan providers might require you to secure the loan with an asset like a vehicle. This helps give lenders peace of mind, and allows you to access better terms and more funds than you might otherwise.
What if Centrelink is my only income?
This is where we have some bad news unfortunately. Responsible lending means we can only lend to those who receive a wage of some sort. So whilst you can get a loan while on Centrelink, if it’s your only income you will not meet the requirements of the loan and will not be eligible.
Receiving Centrelink and wanting to secure a quick, easy loan?
There are many more Centrelink benefits available that also do not affect your ability to get a quick secured loan from Swoosh. We’re here to provide you flexibility every step of the way and help when you need it the most.
If you have any questions about Centrelink benefits in relation to Swoosh loans, or any other general questions, get in touch with our friendly team today.
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