Best Guarantor Loans Online in Australia

Did you know that guarantor loans can quell all your finance-related stress? Life’s unexpected and emergency expenses have a way of sneaking up on you, don’t they? In fact, even the not-so-sudden expenses can seem sudden and uncomfortable when you don’t have the extra cash. Planning ahead isn’t always possible, especially with salaries remaining the same while product prices rise and the cost of simply existing elevates with each passing year. Suppose you find yourself in a financial pickle. In that case, you’re probably wondering what your options are, and we’re here to tell you that small and instant cash loans are readily available right here at Pronto Paydays for everyday Aussies.

Guarantor loans at Pronto Paydays:

  • Amount: $200 to $10,000
  • Term: Up to 24 months

What Are Guarantor Loans and How Do They Work?

Guarantor loans are personal loans that can open the doors to borrowing for you if you’ve been struggling to get a personal loan. Guarantor loans require the financial backing of a family member or friend who agrees to meet the loan repayments if you’re unable to pay.

They’re suitable for individuals who find it hard to get loans independently because of poor credit histories, low income, or other reasons. Having someone backing you up effectively ‘guarantees’ the loan and allows the lender to advance you the money at reasonable rates and better terms.

How do Guarantor Loans Work in Australia?

You can apply for a guarantor personal loan at Pronto Paydays through a quick online application process, and the loan is opened under your name. However, the guarantor must go through the same approval process to ensure they can afford to repay the loan if you default on payments.

To get a guarantor loan, your guarantor has to have a good credit rating and stable finances. Their signature on the loan agreement acts as a form of security. Lenders at Pronto Paydays offer guarantor loans ranging from $200 to $10,000 in Australia, and you can get up to 24 months to repay.

You’ll also get a 0% interest rate on loans up to $2,000 and a 48% interest rate on loans between $2,001 and $10,000. The best part is you can get guarantor loans in just an hour after approval. Also, the better the financial standing of the guarantor, the better the loan amount, interest rates, and terms you’ll get.

Types of Same Day Guarantor Loans 2023

Bad Credit Guarantor Personal Loan

A bad credit guarantor personal loan is an excellent option if you have a bad credit score. Unlike other lenders who concentrate on the financial hurdles of your past, bad credit lenders at Pronto Paydays focus on your income and how you handle your finances now.

Having a guarantor also helps reduce the risk for lenders. It makes it easier to get a bad credit guarantor loan.  Provided you meet the requirements and your guarantor has a good credit score and financial standing, it’s easy to get a bad credit guarantor loan in Australia from Pronto Paydays.

Bad credit guarantor personal loans can help you out in emergencies and other financial needs, primarily if you’ve found it challenging to get loans. They’re also great for improving your credit scores so you can qualify for higher amounts and even be able to get funded independently in the future.

No Credit Check Guarantor Loan

A no credit check guarantor loan allows you to borrow money in Australia and get approved without a credit check. When you don’t want lenders prying into your credit history or have no credit history to speak of, a no credit check guarantor loan is a suitable option.

Lenders will only assess your monthly expenditure vs. income as well as the guarantors to determine affordability. No credit check guarantor loans are usually small and are meant to give you a boost until your next paycheck.

At Pronto Paydays, lenders offer no credit check guarantor loans between $200 and $2,000. However, your guarantor can help you qualify for even higher amounts up to $10,000. You’ll be charged a fixed interest rate and get a repayment period from 30 days to 24 months.

Guarantor Payday Loan

A guarantor payday loan can help cover an emergency or give you a boost to get you through to the day you get paid. Payday loans are usually small amounts ranging from $200 to $2,000, and to qualify, you have to earn at least $350 every week.

With a guarantor, you can get good terms and even qualify for higher amounts with lenders. At Pronto Paydays, lenders on our panel offer loan amounts of up to $10,000 with 24 months to repay.

A guarantor or co-signer can also help you qualify if you don’t earn the minimum amount required every week but can make payments consistently.

Unemployed Guarantor Loan

Most traditional lenders will not consider your loan application if you don’t have a conventional job. At Pronto Paydays, we don’t discriminate against any Australian. Having a guarantor co-sign your loan will quickly get you the funds you need within an hour, even if you’re not traditionally employed.

Although you’ll still be required to prove you have alternate income sources and affordability, having a guarantor makes the process much easier. Lenders will quickly approve your request because the guarantor can step in and repay the loan if you can no longer afford it.

At Pronto Paydays, we recommend unemployed borrowers to get a cheap guarantor loan of up to $2,000 which can be repaid easily and comes with no interest rate attached. The maximum loan term is 24 months. The best part is that with a guarantor, you can qualify for higher loan amounts up to $5,000 or $10,000, depending on your affordability.

Secured Cheap Guarantor Loans

Although most guarantor loans are unsecured, secured guarantor loans are also available. If you have a property, vehicle, or high-value asset to offer, the loan is secured against the asset.

With secured loans, you risk the asset being seized and sold if you default on the loan. Having a guarantor plus security significantly improves your terms and chances of getting approved since the risk to the lender is lower.

At Pronto Paydays, you can get a secured guarantor loan in Australia of up to $10,000 with a payment period of 12 to 24 months. Secured loans are suitable for sudden financial needs, emergencies, and large projects like home renovations.

Features of Guarantor Loans in Australia

Instant Guarantor Loans

Lenders at Pronto Paydays can give you an instant guarantor loan or a same-day guarantor loan. Our lenders focus on paying out loans in 1 hour, meaning you’ll only have to wait 60 minutes to get money in your account after your application is approved. If there are any delays, you’ll still get funded by the next business day at the latest.

Borrow Money Online

Pronto Paydays brings you the most convenient way to borrow money in Australia through an easy online application process. The user-friendly loan application form at can be completed in less than 5 minutes from anywhere you are in Australia! Say goodbye to dealing with endless paperwork or making countless calls and apply for an online guarantor loan today.

Flexible Online Guarantor Loan Amounts

You can borrow a cheap guarantor loan that suits your needs and is manageable. At Pronto Paydays, our associated lenders offer affordable loan principals ranging from $200 to $10,000. Before you decide on the amount of money to borrow, you should scrutinize your monthly expenses and income to ensure you can comfortably repay.

Repayment Terms

When you apply for an online guarantor loan at Pronto Paydays, you’ll get a repayment option ranging from 60 days and 12 months. Keep in mind that all lenders set their own terms and repayment terms suitable for your affordability. Some of the best guarantor loans are short and sweet, making them easy to repay so you don’t stay in debt for long. Small loans have shorter terms, and the quicker you repay, the less interest you accrue.

Repayment Schedules

When you apply for a guarantor loan at, you’ll get the option to choose a suitable repayment schedule. Most lenders set an automatic debit on your account when you get your wages, benefits, salary, or other income forms. You can choose weekly, every two weeks, or monthly according to the day you receive your payments.

Charges and Fees

All lenders at Pronto Paydays are transparent about their charges and fees. You’ll only be charged a 20% establishment fee and a 4% monthly fee on loans up to $2,000. You’ll also be charged 0% interest on all loans below $2,000 following regulations from the Australian Securities and Investments Commission.

If you get a guarantor loan from 2,001 to $10,000, you can be charged a $400 establishment fee and the maximum allowable interest rate of 48%. However, most lenders at Pronto Paydays reduce the rates to remain competitive and cater to your affordability.

It’s always wise to read the loan agreement carefully before signing it to identify the costs associated with guarantor loans. Keep in mind that a lender may charge early exit fees, late payment fees, or costs for debt collection when you default.

Get a Guarantor Loan From Trusted Lenders

Pronto Paydays only works with the most reputable, respected, reliable, and transparent lenders in Australia. Our lenders have valid credit licenses, good online reviews from previous customers, and you can easily find their contact information.  The lenders also ensure they adhere to relevant Australian Securities and Investments Commission regulations.

Examples of Guarantor Loans

Lender Loan Amount Payment Terms Amount to Repay Loan Cost
Swoosh Finance $2,000 Weekly $3,016 $1,016
City Finance $3,000 Weekly x 35 $3992.10 $992.10
Signo Loans $2,600 Monthly x 12 $2,772.72 $172.72

Advantages and Disadvantages of Guarantor Loans

Advantages of the Best Guarantor Loans

Get Loans With 0% Interest Rates

In adherence to the Australian government’s regulations that cap the amounts lenders can charge on personal loans, all lenders at Pronto Paydays charge a 0% interest rate on loans up to $2,000.

Quick and Easy Applications

You get a great digital experience when you apply for a guarantor loan at Pronto Paydays. Instead of wasting time making calls or looking for storefronts, you only fill in a user-friendly online application form from anywhere in Australia.

Instant Payout When You Apply for a Guarantor Loan

Lenders at Pronto Paydays do their best to ensure you get money in your account within an hour after approval. You can depend on Pronto Paydays to come through when you need cash in a hurry.



Getting the money you need when you need it can come at a higher interest rate than other loan options. However, the convenience of gaining access to loans that would otherwise be inaccessible to many borrowers is worth the cost most of the time.

Guarantor Loans vs. Secured Loans

In secured loans, you have to provide one of your assets as collateral for the loan. Such collateral can include a car or home and other valuables like equipment, machinery, jewellery, stocks, bonds, and art.

Guarantor loans don’t require any type of asset as security to be approved. Most guarantor loans are unsecured, but you can also have secured guarantor loans. Guarantors increase your chances of getting approved for a loan.

Both guarantor and secured loans usually have better terms, amounts, and interest rates because the asset or the guarantor reduces the risk to the lender.

Eligibility Criteria for Guarantor Loans in Australia

To qualify for guarantor loans at Pronto Paydays, you have to ensure that;

  • You’re at least 18 years of age.
  • You have Australian citizenship or permanent residency.
  • You have a home address in Australia.
  • You have valid identification.
  • You earn an income of at least $350 every week.
  • You get over 50% of your income from non-Centrelink sources.

Application Process

It’s effortless to apply for an instant guarantor loan at

Step 1: Gather Your Documents

Lenders will need to verify your details and information. Having the required documents ready will help expedite the approval process. You’ll need;

  • Your identification documents such as your Medicare card or driver’s license
  • Proof of residence such as a rental agreement or utility bill
  • Income proof such as copies of your bank statements or payslips

Step 2: Complete The Online Form

Completing the online loan application form at is quick and easy. Simply click on “Get Loan,” choose the amount you wish to borrow, and fill in your personal and banking details and financial information. You’ll also provide your employment or income information and monthly expenses, which will help determine whether you can afford the loan. Submit the filled form after reading the terms and conditions and privacy policy.

Step 3: Get an Answer and Finalize the Deal

After you submit the form, you’ll get feedback on your loan request within 2 minutes. Once a lender accepts your request, you’ll be directed to their website to finalize the loan process. At this point, the lender may contact you through a call or email and ask for clarification or verification documents. Take this opportunity to ask questions and inquire about loan terms, charges, and fees.

Step 4: Sign the Agreement and Get Funded

After the lender has verified your details, they’ll send you a loan agreement. Review it carefully with close attention to scheduled payments, terms and conditions, and additional fees like late or early payment penalties. If you’re satisfied with the agreement, sign it and return it to the lender, and that’s it! All you have to do now is wait to get money in your account in 1 hour or within 24 hours at the latest.


Can My Spouse Be Guarantor When I Need A Guarantor Loan?

Yes. Your family members or friends can be your guarantors as long as you’re not financially linked already.

What Is The Maximum Amount I Can Get On  A Guarantor Loan?

Pronto Paydays offers loans of up to $10,000 maximum.

How Long Will I Wait Before My Loan Is Approved At Pronto Paydays?

You’ll only wait 2 minutes to know whether your loan request has been approved or not.

What Is The Waiting Time For Funding?

Lenders at Pronto Paydays offer same-day payouts within one hour after your loan request is approved. The latest you can wait to get funded is 24 hours or the next business day if you apply on weekends.

Are Guarantor Loans Secured or Unsecured?

Most guarantor loans are unsecured loans, and you don’t need any collateral to get approved.