How does a loan from CashnGo work?
Prospective applicants can apply for a Cash n Go Loans at one of its NSW locations. First-time customers who are currently employed may be eligible for up to $600; applicants who receive Centrelink benefits can apply for up to $300 and existing CashnGo customers can apply for up to $950.
Applicants have to provide various details, including a bank account from which CashnGo will direct debit their repayments. The maximum loan length is 8 weeks. Customers are required to pay an establishment fee of 20% and a monthly fee of 4%.
Compare other payday loans
Whilst we don't compare CashnGo Instant loan directly, here are some other loans that are similar.
Updated February 18th, 2020
⚠️ 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.
If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.
What features does a Cash n Go Loans come with?
The following features come with a loan from CashnGo:
- Loan amounts available. Customers can apply for between $100 to $2,000 and later up to $2,000 once the first loan has been paid off in full.
- Automatic repayments. Repayments will be automatically deducted out of a nominated bank account on the day they are due. Applicants would be advised to make sure there are sufficient funds in their account before their repayment date.
- Bad credit and Centrelink applicants considered. CashnGo performs credit checks but will not necessarily refuse loans to applicants with bad credit records. Customers are also eligible to borrow up to $300 if they receive Centrelink benefits.
How much will the loan cost?
Consider the following fees and charges before submitting an application:
- Establishment fee: Successful applicants will pay a 20% establishment fee.
- Monthly fee: This loan also includes a 4% monthly fee.
- Late payment fees. Daily fees of $6 accrue for up to 43 days if loan customers miss their repayments. Approved applicants should get in touch with CashnGo ahead of a missed payment if they think they won't be able to make a repayment.
How to apply
To apply with CashnGo, customers need to head to a CashnGo kiosk. To find branch and kiosk locations, visit CashnGo's website. Applicants will need to meet the following eligibility criteria in order to apply:
- Be over the age of 18
- Earn a regular income
- Have the ability to meet their repayments
The following documentation and information will also be required upon application. Applicants will need:
- Their contact information
- Details regarding their employment
- Their income and expenses
- A recent bank statement (from the last 60 days) that shows their BSB and account number
- A valid photo ID
- Two recent payslips
Frequently asked questions
How much can I borrow?
Customers can borrow up to $300 if they receive Centrelink payments as income, up to $600 if they are employed and up to $950 if they are a returning customer.
I have bad credit. Can I still apply?
CashnGo does conduct checks on their applicant's credit history, but prospective applicants may still be eligible with bad credit.