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The Cash Converters Medium Personal Loan allows customers to apply for between $2,050 and $4,600 and repay over a term of up to 730 days. Funds could be in an applicant's bank account within 48 hours, subject to approval. Early repayment flexibility allows customers to repay the loan more quickly and save money over the life of the loan, without incurring any extra fees.
$4,600
Maximum loan amount
24
Turnaround time
48 hours
2 to 24 months
Term of loan
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Product Name | Cash Converters Medium Personal Loan |
---|---|
Minimum loan amount | $2,050 |
Maximum loan amount | $4,600 |
Arrears Fee | $33 |
Loan term | 2 to 24 months |
Turnaround time | 24 - 48 hours |
Costs | $400 (establishment fee; financed under loan) + 48% p.a. interest |
Available to Centrelink Borrowers? | No |
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.
The Cash Converters medium personal loan is a medium amount credit contract that allows applicants to borrow between $2,050 and $4,600. Successful applicants will need to repay the money they borrow, along with loan fees and interest charges, over a loan term of up to 730 days. However, there is no fee for making additional repayments, so customers can pay their loan off early if they wish to, and save money over the life of the loan.
Applicants can apply for a Medium Personal Loan online via the Cash Converters website. If they meet the personal loan eligibility criteria and their application is successful, Cash Converters can deposit the money into their bank account within 48 hours from the time they're approved.
Medium Personal Loans from Cash Converters incur an establishment fee of $400, which is financed under the loan, and interest is charged at an annual cost rate of 48%.
It’s also important for prospective applicants to be aware that if they are late making a repayment towards their loan, a dishonour fee of $33 applies.
To be eligible for this loan, applicants need to meet a few simple personal loan eligibility criteria. They must:
If someone's income is from Centrelink, Cash Converters consider their application and will assess it to determine whether they can afford to repay the loan.
Customers can apply for a Cash Converters Medium Personal Loan online via your computer, smartphone or tablet. Prospective applicants can click on the “Go to site” link on this page to be redirected to the Cash Converters website where they can start an application.
During the application process, people will need to provide the following information:
Once someone has submitted all the necessary documents, Cash Converters will review their application within 24 business hours. If they approve the application, they will deposit the funds into a nominated bank account at some stage during the next business day.
Prospective applicants should compare their loan options carefully before submitting an application, to see if the Cash Converters Medium Personal Loan is suited to their circumstances.