Capfin Short Term Loan
Loans of up to $2,000 from Capfin Money.
With a loan from Capfin Money, customers can apply for finance up to $2,000.
Maximum loan amount
for $1,500 loan
6 to 12 months
Term of loan
|Product Name||Capfin Short Term Loan|
|Minimum loan amount||$500|
|Maximum loan amount||$2,000|
|Loan term||6 to 12 months|
|Costs||20% of loan amount + 4% of loan amount each month|
|Requirements||You must be a permanent resident at least 18 years old earning $500 p/w|
|Available to Centrelink Borrowers?||Yes|
⚠️ Capfin Money was previously known as Capfin Direct and is now part of Fair Go Finance.
Are you struggling financially?
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help
⚠️ Warning about Borrowing
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
How does borrowing from Capfin Money work?
These loans are available up to $2,000. Applicants will be contacted by email or SMS if their application is approved. Once someone receives confirmation, their funds will be transferred into their bank account by 3pm on the next business day.
Loan customers then repay the loan as per their loan schedule and manage their repayments via their online account. Customers can apply to refinance their loan as long as their account isn’t in arrears and they have sufficient repayment history.
Features of a loan from Capfin Money
A loan from Capfin Money comes with the following features:
- Straightforward application. Customers can apply online and submit all of their documents electronically. They can also upload their photo ID on the website or send it by MMS or email.
- Bad credit applicants considered. A credit check will be conducted, but customers can still apply if they have bad credit, as long as they're not currently bankrupt or under a Part 9 Debt Agreement.
- Fast turnaround time. Once approved, applicants could receive their loan by 3pm on the next business day.
- Range of loan amounts available. This loan is suitable for a range of needs, as customers can apply for between $500 and $2,000.
- Online account management. Successful loan applicants can manage their loan account online using the Capfin Money online account. They can also update their details and view their loan statements on the platform where needed.
How much will the loan cost?
The following fees apply to loans of less than $2,000:
- 20% establishment fee
- 4% monthly fee
Applications are available online. Prospective applicants should first make sure that they meet the following eligibility criteria. Applicants must:
- Be an Australian citizen or permanent resident
- Be over the age of 18
- Earn $500 or more a week into a bank account
- Not currently bankrupt or under a Part 9 Debt Agreement.
The above information will need to be submitted in the form of the applicant's personal and financial details. So customers will need to submit the following documents when submitting their application:
- Photo ID
- Last 90 days of their bank statements (can be submitted through Credit Sense by providing bank logins)
- Centrelink statements (if applicable)
Prospective applicants should always compare loans thoroughly prior to submitting an application in order to ensure that they are applying for the best possible product for their circumstances.