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$2,000
Maximum loan amount
Within 24 hours
Turnaround time
16 days to 12 months
Term of loan
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Product Name | Cash Australia Personal Cash Advance |
---|---|
Minimum loan amount | $300 |
Maximum loan amount | $2,000 |
Arrears Fee | $29 |
Loan term | 16 days to 12 months |
Turnaround time | Within 24 hours |
Costs | 20% establishment fee and 4% monthly fee. |
Available to Centrelink Borrowers? | Yes |
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
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:
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.
If someone is a new Cash Australia customer they have to provide bank statements for the last 60 days alongside their loan application. If they've taken a Cash Australia advance in the past, they only have to provide bank statements for the last 30 days. Those with online access to their bank account details can upload an electronic statement during the application process.
After the loan’s approval, Cash Australia sends their successful applicants' cash advance offers via email. Once an applicant accepts their offer, Cash Australia deposits the money in their bank account, the details of which they will have provided as part of the application process.
Repayments are debited from the same bank account on agreed dates automatically until the loan is paid back completely.
Whilst we don't compare this loan directly, here are some other loans that are similar.
Before applying for a Cash Australia Cash Advance Loan, it’s a good idea to find out of the features it offers. The following features are on offer:
Loan customers can borrow as little as $300 when they apply for a Cash Advance Loan through Cash Australia. They can also borrow in $50 increments any amount up to $2,000, provided that they qualify.
If someone gets this Cash Advance Loan, they have to pay the loan off completely in four weeks. They cannot extend the terms of the loan. Customers should ensure that they will be able to totally repay this loan in this short period of time or face additional charges.
Loan applicants have to send a copy of the accepted contract via email, along with their direct debit request via fax. Once they do this Cash Australia deposits the funds in their bank account within a few hours or on the following business day.
Upon accepting the loan proposal, applicants have to sign up for direct debits, giving Cash Australia the authority to request for funds from their bank account on agreed dates. This way, customers don’t have to remember when to make repayments. However, they must ensure that there is enough money in their account for each repayment date, or face additional charges for dishonoured payments.
As with other loans, these loans attract different fees and charges, and here’s what customers can expect to pay during the course of the loan term.
This stands at 20% of the amount borrowed.
This is 4% of the amount borrowed.
Customers will have to pay these if their account enters into debt recovery.
Applying for a Cash Australia Cash Advance Loan is straightforward. However, before submitting an application, applicants should ensure that they meet the following eligibility criteria. Prospective applicants must:
As part of the application process every customer will have to provide different kinds of information. This includes the following:
While Cash Australia’s Loans can work as short-term solutions, all prospective applicants should take into account that there are a number of similar products available. It is important to compare as many as possible before applying in order to ensure the best possible deal.