Cash Australia Review

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Borrowers can cover temporary financial shortfalls with a personal cash advance – up to $2,000 is available.

Customers can borrow up to $2,000 through a personal loan provided by Cash Australia. This unsecured loan has a short repayment term, so successful applicants will get just four weeks to repay. Upon approval, customers can use proceeds from this loan for just about any worthwhile purpose such as going on a vacation, paying medical bills, renovating their home or dealing with a financial emergency.

$2,000

Maximum loan amount

Within 24 hours

Turnaround time

16 days to 12 months

Term of loan

Details

Product NameCash Australia Personal Cash Advance
Minimum Loan Amount$100
Maximum Loan Amount$2,000
Arrears Fee$29
Loan Term16 days to 12 months
Turnaround timeWithin 24 hours
Costs20% establishment fee and 4% monthly fee.
Available to Centrelink Borrowers?Yes

How do Cash Australia loans work?

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.

Other cash loans to apply for

Whilst we don't compare this loan directly, here are some other loans that are similar.

Updated February 25th, 2020
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Nimble Short Term Loan
$2,000
62 days to 3 months
1 hour - conditions apply
$15
15% of loan amount + 3% of loan amount each month
$372
Finder Exclusive: 25% discount on the establishment fee (now 15%) and monthly fee (now 3%)
A loan up to $2,000 with terms up to 62 days to 3 months. Centrelink cannot be your primary source of income.
Sunshine Short Term Loans
$2,000
9-12 weeks
30 minutes - conditions apply
$35
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Wallet Wizard Smart Loan (Up to 2K)
$2,000
Up to 2 years
3 hours - conditions apply
$10
47.8%
$316.70
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
Safe Financial Small Loan
$5,000
22 - 52 weeks
Same day - conditions apply
$35
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
$396
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
$2,000
3-12 months
1 business day
$35
Establishment fee from 20% of loan amount + monthly fee from 4%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
Speckle Small Loan
$2,000
3 to 12 months
1 business day
$5
10% of loan amount + 2% of loan amount each month
$348
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.

Compare up to 4 providers

Features of a loan from Cash Australia

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:

    • Low minimum amount.

      Loan customers can borrow as little as $100 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.

    • Short loan term.

      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.

    • Quick approval process.

      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.

    • Easy repayments.

      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.

How much it will cost to get a Personal Cash Advance?

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.

  • Establishment fee.

    This stands at 20% of the amount borrowed.

  • Monthly fee.

    This is 4% of the amount borrowed.

  • Default deferred payment fee.

    $15 towards costs of accommodating consumer requests, and this fee is payable per week.
  • Direct debit dishonour fee.

    $29 charged every time a direct debit repayment is dishonoured.
  • Missed payment fee.

    $29 charged each time someone misses a repayment - applied the day after their due date.
  • Enforcement expenses.

    Customers will have to pay these if their account enters into debt recovery.

How to apply for a Cash Advance Loan from Cash Australia

Eligibility criteria

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:

  • Reside in South Australia, Victoria, Northern Territory, or Tasmania
  • Have an existing bank or credit union account
  • Earn at least $24,000 per year, and the income should show as an electronic transfer on their bank statement
  • Have an existing email address
  • Be at least 18 years of age

Documentation required

As part of the application process every customer will have to provide different kinds of information. This includes the following:

  • Personal and contact details like their name, date of birth and driver's licence number
  • Employment details like their employment status, length of employment, payday frequency, and employer’s contact details
  • Details about their income, expenses and debts

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.

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