Thinking of borrowing from Cash Stop? Here's what you need to know.
Cash Stop operates both online and in bricks-and-mortar branches. When you apply online, you can receive the funds in your bank account the same business day. Depending on your financial circumstances you can borrow up to $5,000. The application process is quick, with the online form only taking a few minutes to fill out. You may also still be eligible for a loan if you have poor credit history and if you receive Centrelink.
Features to consider before applying
- Quick application. You can fill out the online application in a couple of minutes without the need to fax any supporting documents.
- Generous loan term. Most payday lenders require that you repay your loan within two months at the most, but Cash Stop lets you choose longer repayment terms. Select the term between 1 month - 1 year that best suits your needs.
- Varied loan amounts available. Applying through Cash Stop online means you can borrow between $300 and $5,000. Keep in mind the actual amount you're approved for will depend on your financial circumstances (your income, current debts, employment, etc.) and your ability to repay the loan.
- Convenient repayments. You won't need to remember to make repayments yourself — on the agreed repayment dates the amount will be direct debited from your nominated bank account.
- Early repayments accepted. If you're able to repay your loan early, you can without incurring any penalties.
- Bad credit borrowers and receivers of Centrelink can apply. If you have negative marks on your credit file, you still may be eligible for a Cash Stop loan. Those receiving Centrelink benefits may also be eligible depending on their financial circumstances.
Compare Other Payday Loans
Whilst we don't compare Cash Stop Online Loan directly, here are some other loans that are similar.
Updated February 26th, 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 will it cost you to borrow?
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- Loan establishment fee: You will pay 20% of the amount up to $2,000 or $400 for the loan amount above $2,000.
- Monthly fee. On the loan settlement day and on the anniversary day of each subsequent month the loan remains open, you'll be charged a 4% monthly fee for the loan up to $2,000.
How to apply online with Cash Stop
Interested in applying for an online loan with Cash Stop? You can get your application started by visiting the Cash Stop Online website. The application shouldn't take longer than four minutes to fill out and you'll receive your loan amount on the same day of approval.
First, check you meet the eligibility criteria:
- You're a permanent Australian resident
- You're over the age of 18
- You have an email address
- You earn a regular, steady income over $300 per week. This income will need to be credited to your nominated bank account.
- Those on Centrelink benefits can apply – including those on Newstart and Youth Allowance
If you've established you meet the basic criteria, you can click through to start the application process. You'll need to provide the following information:
- Personal details including your name and contact information
- Employment information such as where you work and the contact details of your employer. An income verification call may be made to confirm your employment
- You will be required to digitally submit 90 days worth of your bank statements through Credit Sense