
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Feature | Cash Converters | MoneyMe |
---|---|---|
How much can you borrow? | $100 to $4,600 | $500 to $50,000 |
How long do you have to repay? | 4 weeks to 24 months | Small loans (under $2,000): 1 to 2 months Medium loans ($2,001–$5,000): 3 months to 2 years Personal loans ($5,001–$10,000): Up to 5 years |
How much will the loan cost? | Cash advances and small personal loans: 20% of loan amount (establishment fee) + 4% of loan amount each month Medium personal loans: $400 (establishment fee; financed under loan) + 48% p.a. interest | Small loans (under $2,000): 11-20% of loan amount (establishment fee) + 4% of loan amount each month Medium loans ($2,001–$5,000): $495 (establishment fee) + 6.25-19.95% p.a. interest Personal loans ($5,001–$10,000): from $295 to $495 |
Do they have a prepaid card? | Yes | Yes |
Can you pay off the loan early? | ![]() | ![]() |
Want to apply? | Review and apply | Review and apply |
MoneyMe offers a larger loan amount (up to $2,000) and longer loan terms. The interest rates also depend on your risk grade, so if you are determined to be a lower risk you can get a better-priced loan. However, if you have any bad credit listings on your credit report you are unlikely to be approved or you may receive an uncompetitive rate.
Cash Converters does not offer a convenient application for smaller loan amounts (you need to apply in-store for cash advance loans) and the costs are not as competitive as MoneyMe can be. However, Cash Converters offers a few different loan options and depending on the loan you choose, terms can extend up to up to 12 months. You can also be approved if you have bad credit.
Picture: Shutterstock
With bonus Qantas Points and a range of complimentary insurance covers, the Westpac Altitude Platinum - Qantas is worth considering if you want more frequent flyer points.
Earn Altitude rewards with Westpac’s Altitude Platinum credit card, while enjoying the benefits and privileges of platinum status.
Learn more about how PayActiv's Earned Wage Access service can help you access up to $500 of your paycheque for a $5 fee charged fortnightly (only if you access your wage before payday).
A UCapital unsecured business loan can provide up to $300,000 without security, with repayment terms between 3 and 12 months.
Get $250 credit back when you meet the eligibility requirements and 55 days interest-free on purchases.
InstaPay is a pay-on-demand service offered by Employment Hero that allows employees to access salary advances of up to $250 per week for a flat fee starting from just $2.
Find out more about AdvancePay, the Commonwealth Bank's new "pay on demand" platform accessible to creditworthy CommBank customers.
We've compared the fees, investment options and performance for both Sunsuper and HESTA to help you choose between these two popular super funds.
Hostplus and HESTA are two popular industry super funds, but which is right for you? We've compared their fees, investment options and performance side by side to help you choose.
We've compared the fees, investment options and performance for both QSuper and Sunsuper to help you choose between these two popular super funds.