Cash Train Loans

This loan comes with standard payday loan fees, which include a 20% establishment fee and a 4% monthly charge.

Cash Train specialises in short-term loans, also known as payday loans. You can borrow up to $2,000. Unlike most traditional lenders, Cash Train also accepts applications from part-time and casual workers, as well Centrelink recipients and bad credit applicants. As payday loans are an expensive form of finance, they should only be used in case of financial emergencies. This can include car repairs, overdue bills or unexpected, unbudgeted expenses. They are not a long-term financial solution.


Maximum loan amount

1 Business Day

Turnaround time


Fortnightly repayment
for $1,500 loan

10 weeks or 3 months

Term of loan

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Product NameCash Train Loans
Minimum loan amount$200
Maximum loan amount$2,000
Initial Maximium Loan Amount$800
Arrears Fee$25
Loan term10 weeks or 3 months
Turnaround time1 Business Day
Costs20% of principal amount (establishment fee) + 4% monthly charge
RequirementsYou must be over 18, employed and earn over $1,200 a month
Available to Centrelink Borrowers?No

Are you struggling financially?

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.

⚠️ Warning about Borrowing

payday-warningDo 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.

Types of cash loans from Cash Train

Cash Train offers short term loans of between $200 and $2,000 (up to $800 for new customers). These loans are usually used for financial emergencies such as getting a car repaired, paying an overdue bill or for an unexpected expense that didn't fit the budget. Cash Train Loans are not meant to be used to fix longer term financial issues or pay for recurring expenses.

Features of a Cash Train Loans

Cash Train Loans have the following features:
  • Loan approval and payout times. Cash Train approves loans online and sends funds to approved customers' accounts within one business day of their loans being approved. This processing time may vary depending on the bank of the borrower.
  • Fees and charges. When someone signs a contract with Cash Train it sets out a repayment schedule that will include all fees and charges attached to the loan. The basic fees and charges associated with this loan are outlined below.
  • Repayment schedule. The repayment schedule outlined in a contract will depend on a customer's pay frequency. If an applicant is paid weekly they will make 10 weekly repayments, if they are paid fortnightly they will make five repayments over a 10-week period and if they are paid monthly they will make just three repayments over a loan term of 3 months.
  • Reliable lender. Cash Train clearly displays its fees, product reviews and contact details on its website.

What are the risks of payday loans?

  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here - lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

How much will the loan cost?

Cash Train are transparent about the fees and charges of their short term loans. The amount customers pay will depend on the size of loan they take out and their repayment schedule.
  • Establishment fee. An establishment fee which is 20% of the loan amount
  • Monthly fees. Recurring monthly fees are 4% of the loan amount
  • Default and dishonour fees. Customers who fail to make a scheduled repayment may be charged $25

Applying for a Cash Train Loans

In order to apply for a cash loan from Cash Train prospective applicants need to meet the following eligibility criteria:

  • Be over 18 years of age
  • Be employed (part-time and casual are accepted but applicants cannot be self-employed)
  • Earn over $1,200 a month
  • Be paid regularly into their bank account i.e. weekly, fortnightly or monthly and not in cash
  • If an applicant has bad credit history they can still be considered for a loan. Cash Train looks at an individual's current financial situation, their ability to make their repayments and the purpose of the loan to determine eligibility
  • For applicants who receive Centrelink, they need to earn over $1,200
  • per month from employment. Centrelink cannot be more than 50% of their income

Loan applicants will need to provide Cash Train with details of their employment and any benefits they receive. They will also need to provide bank statements for the last ninety days, so that Cash Train can determine their loan amount.

Ask an expert

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    Default Gravatar
    June 5, 2019

    I would like to apply for a $200 loan. I am a pensioner and I have just had my health insurance come up and I am just a little short. My next pension is paid into my account on Saturday 8th of June 2019.

    Kind regards,

      Avatarfinder Customer Care
      June 6, 2019

      Hi Maria,

      Thank you for getting in touch with Finder.

      I’m afraid you may not be eligible to apply for a loan with Cash Train since they require you to earn over $1,200 per month from employment and Centrelink cannot be more than 50% of your income. You may instead refer to our list of Centrelink loan providers. You can click the name of the lender you prefer to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service.

      When you are ready, you may then click on the “Go to site” button if available and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!


    Default Gravatar
    March 13, 2019

    I am carer receiving $1100 a fortnight and want to borrow $28,000 to buy a block of land. Is this possible, and who with? I am also first home/land buyer.

      Avatarfinder Customer Care
      March 14, 2019

      Hi Melodie,

      Thanks for leaving a question.

      You may not be able to apply for a loan from Cash Train as their maximum loan amount is $2,000.

      If you intend to use the loan for buying land for your first home, you may want to consider getting a vacant land home loan. Please have some time to read our article about Centrelink home loans. It will basically discuss some tips and guidelines on getting a mortgage when you are a centrelink recipient.

      It may be good as well to speak to a mortgage broker who can help you find a suitable loan for you considering your overall circumstance.

      Hope this helps! 😊

      ​Please feel free to contact us back should you require further assistance.

      Kind Regards,

    Default Gravatar
    February 23, 2019

    Hey! Will I receive my cash train loan on a Saturday? I bank with the Bendigo bank and my loan was approved and funded yesterday. I still haven’t received it.

      Avatarfinder Customer Care
      February 25, 2019

      Hi Victoria,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Cash Train Loan does not operate during weekends or holidays. Once you are approved for a loan, you would receive your money within 1 business day. You would need to wait until Monday to have your money.

      If you haven’t received the money after waiting 1 business day, it would be a good idea to directly ask your provider.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    November 16, 2018

    Can I borrow enough to buy myself a car as I have employment as long as I have transport?

      Default Gravatar
      November 16, 2018

      Hi Matthew,

      Thanks for getting in touch! You may certainly apply for a loan to purchase a car. It’s important to check the eligibility requirements of the loan to get started. Also, read the terms and conditions as well as the product disclosure statement of the policy. The lender will assess your application and inform you of your application status afterwards. Hope this helps!

      Feel free to reach out again, we are here to help!


    Default Gravatar
    November 13, 2018

    I would like to apply for a loan

      Default Gravatar
      November 13, 2018

      Hi Tikesha,

      Thanks for reaching out. To apply for a loan at Cash Train, simply check the eligibility requirements above that says “Applying for a Cash Train Loans.” and you may also reach out to Cash Trains via phone or email which can be found in their website’s contact us page. Hope this helps! Feel free to reach if you have any questions, we’re on standby!


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