Cash Train Loans

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Eligible customers can borrow up to $2,000

Cash Train is a lender who specialises in short term loans for Australian customers in need of emergency funds. When choosing an online loan lender applicants need to ensure that the lender is reputable, reliable and contactable. Cash Train is a trading brand of MONEY3 Services Pty Ltd Australian Credit Licence Number 389189.

$2,000

Maximum loan amount

1 Business Day

Turnaround time

$396

Fortnightly repayment
for $1,500 loan

10 weeks or 3 months

Term of loan

Details

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

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 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.

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 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 applicanrts 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 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.

⚠️ 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.

Financial hardship

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.

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105 Comments

  1. Default Gravatar
    Maria
    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,
    Maria

    • Avatarfinder Customer Care
      Jeni
      June 6, 2019

      Hi Maria,

      Thank you for getting in touch with Finder.

      I’m afraid that 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. Kindly visit this page to know lenders that would accept Centrelink as your source of income.

      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!

      Cheers,
      Jeni

  2. Default Gravatar
    melodie
    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
      Mai
      March 14, 2019

      Hi Melodie,

      Thanks for leaving a question.

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

      If you intend to use the loan for buying a land for your first home, you may want to consider comparing for available First Home Buyer Loans here. Please have some time to read on our article about Home loans for Centrelink recipients too. 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,
      Mai

  3. Default Gravatar
    Victoria
    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
      Joshua
      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!

      Cheers,
      Joshua

  4. Default Gravatar
    Matthew
    November 16, 2018

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

    • Avatarfinder Customer Care
      Nikki
      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!

      Best,
      Nikki

  5. Default Gravatar
    Tikesha
    November 13, 2018

    I would like to apply for a loan

    • Avatarfinder Customer Care
      Nikki
      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!

      Best,
      Nikki

  6. Default Gravatar
    Sauao
    September 28, 2018

    I just want to know if in eligible for one im on centerlink atm..thank you

    • Avatarfinder Customer Care
      John
      September 28, 2018

      Hi,

      Thank you for leaving a question.

      Centerlink payments are accepted for the eligibility requirements but you need to earn over $1,200 per month from employment and Centrelink cannot be more than 50% of your income. Please see complete requirements below:

      Be over 18 years of age
      Be employed (part-time and casual are accepted but you cannot be self-employed)
      Earn over $1,200 a month
      Be paid regularly into your bank account i.e. weekly, fortnightly or monthly and not in cash
      If you have bad credit you can still be considered for a loan. Cash Train looks at your current financial situation, your ability to make your repayments and the purpose of the loan
      If you receive Centrelink, you need to earn over $1,200 per month from employment and Centrelink cannot be more than 50% of your income
      Hope this helps!

      Cheers,
      Reggie

  7. Default Gravatar
    Thomas
    April 19, 2018

    please tell me why cash & go think youes put 800 dollars in my bank account on 6.4.18 I never got it

    • Avatarfinder Customer Care
      Nikki
      April 19, 2018

      Hi Thomas!

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      To clarify, did you use a Cash & Go Direct Debit or did you register your own deposit account? You may want to verify with them where they credited your loan for double checking. As much as we want to help further and check on your account, we don’t have access to this. Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.

      Hope this helps! Feel free to message us anytime should you have further questions.

      Cheers,
      Nikki

  8. Default Gravatar
    Ro
    April 11, 2018

    Can i get some lone i need money today please help me

    • Avatarfinder Customer Care
      Nikki
      April 11, 2018

      Hi Ro,

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.

      Australian law requires lenders to satisfy themselves about your financial circumstances before giving you a loan.

      Here are the documents you’d need to bring when you apply for the loan.

      Bank statements for the past 90 days
      Payslips and/or Centrelink statements, or your last tax return to verify your income
      Mortgage or rental property statements
      Utility bills or statements
      100 points of identification if you are a new customer

      For more information, you may review this page on SAME DAY LOANS.

      Hope this helps! Feel free to message us anytime should you have further questions.

      Cheers,
      Nikki

  9. Default Gravatar
    Christina
    February 15, 2018

    Hi

    I have been blacklisted for the past 3 years, i ve only been working for a year now and get paid R1750 a week in cash. My wages do not get paid into my bank account. i desperately need a loan where i can pay off on a weekly basis and will actually help me. please i am desperate.

    • Avatarfinder Customer Care
      Joshua
      February 25, 2018

      Hi Christina,

      Thanks for getting in touch with finder.

      I understand that you are in a very tough situation.

      When applying for a loan, every lender assesses your ability to pay them back. If they can see and you can prove to them that you can do the repayments, then they will most likely approve your loan.

      Since you mentioned you have a bad credit history, you maybe have limited options. And sometimes, those options may include high-interest rates.

      We have a few pages that you might want to review. These pages will help you know your options:

      Compare unsecured bad credit loans
      How to be approved for a $5000 loan with bad credit

      Moreover, you might want to read this page to learn how to improve your financial situation:

      How to make your difficult financial circumstances better

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

      Have a wonderful day!

      Cheers,
      Joshua

  10. Default Gravatar
    Rateb
    February 3, 2018

    Need cash asap

    • Avatarfinder Customer Care
      Jonathan
      February 26, 2018

      Hi Rateb, thanks for your inquiry.

      Please go to this page to apply for instant cash loans.

      Best,

      Jonathan

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