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Casheezi Short Term Loan
Casheezi provides small cash loans of up to $2,000. This payday loan is expensive and comes with high fees and charges.
Casheezi provides short-term or payday loans of up to $2,000. This loan does not involve a credit check and Casheezi provides a customised repayment plan. Their turnaround times are fast, but fees are only disclosed upon request. You can, however, expect to pay the standard payday loan fee. You can expect to be charged an establishment fee of 20% and a monthly fee of 4%. There are also various fees associated with missed payments and defaults. Payday loans are not a long-term financial solution and should only be used in case of emergencies.
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$2,000
Maximum loan amount
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Details
| Product Name | Casheezi Short Term Loan |
|---|---|
| Maximum loan amount | $2,000 |
| 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
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.
How do Casheezi loans work?
Once an application has been accepted and approved, the successful applicant will immediately receive their cash. If someone is taking out a secured loan, they'll need to take the item they plan to use for security into a Casheezi store so the loan documentation can be completed. For unsecured loans, customers can apply in person or online.
All prospective applicants should take the time to make sure that they understand the terms and conditions of their loan before they sign up.
Features of a loan from Casheezi
- Straightforward process. Loans are approved on the spot. All paperwork will be done on the applicant's behalf.
- Flexible repayments. Repayments can be made to suit each applicant's circumstances. Casheezi will discuss details with their customers when they take out the loan.
- No credit check. Casheezi don’t conduct a credit check but they will need other forms of proof that someone is capable of repaying a loan.
- Secured loan amounts. There is no limit on secured loan amounts. The loan amount depends on a person's circumstances and what they are able to provide for security.
- Unsecured loan amounts. Customers can apply for a maximum of $2,000.
- Early payout. Contact Casheezi to get the total payout amount for the day they wish to end their loan. No fee is charged.
- Ongoing line of credit. Once someone has successfully paid out their first loan, they are eligible for a line of credit.
What are the risks of payday loans?
- Unaffordable repayments. Payday loans are an expensive way to borrow money and should only be used as a last resort. Check the size of each repayment and ensure you will be able to pay it on time. Unaffordable repayments can lead to late fees that will only make things worse.
- High rates and fees. Rates and fees on payday loans are high but there are rules in place so be sure to check your lender is not charging you more than ASIC allows. Also, look at what you would be charged if you are late on a payment or if you default on the loan altogether.
- Unreputable lenders. All Australian lenders should be accredited by ASIC. Check for a credit licence on the ASIC Register and ensure that the lender is easily contactable.
- Impact on credit score. Every loan application shows up on credit reports. While lenders might not consider credit history, applying for lots of loans within a short period can have a negative impact on your credit score in the future.
Casheezi loan eligibility
Casheezi doesn't check their customers' credit history, so those with bad credit may still be accepted. To be eligible, customers must be 18 years old and have the ability to repay the loan.How to apply
Casheezi provides money fast. Customers can apply on the phone, online or in person at a shop.If someone wants a secured loan, they can simply take the item they plan to use for security into a Casheezi shop and they will complete the application for them. Here’s what is needed to apply.
- Photo ID - a driver’s license or passport.
- Bank statement (only for unsecured loans)
- Item for security (only for secured loans)
Customers should only ever take out these loans if they are certain that they will be able to make the repayments, or they will face penalty charges and/or lose their asset security. Prospective applicants should also compare these loans carefully with other similar products before submitting an application, to ensure that they find the best possible solution for their circumstances.
