Enjoy a quick turnaround time on loans up to $15,000 with Cashfirst.
- Cashfirst no longer offer credit to the public consumer. Compare a range of bad credit loan options here.
If you’re in need of a loan, and if you have been rejected by other banks or lenders, then you might want to consider a personal loan from Cashfirst.
Cashfirst also offer a secured loan that you can use to finance a new car. You can also use a car less than 7 years old to use as security against the loan.
|Product Name||Cashfirst Unsecured Personal Loan|
|Interest Rate (p.a.)||From 16.99% (fixed)|
|Comparison Rate (p.a.)||17.35%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$1,000|
|Max. Loan Amount||$15,000|
- Bad credit borrowers accepted
- High loan amount
- Online application
- Higher interest rate
- Application fee of $50
- Late fees may be charged
Today, having a less-than-stellar credit file does not have to stop you accessing much-needed finance. You may be in a difficult financial situation and need a loan to have your car repaired, pay medical bills, or even consolidate existing debts. And while you might want the benefits of a payday loan, including quick turnaround time and flexible eligibility, the loan amounts on offer may not be enough. Cashfirst offers people in these situations loans of up to $15,000 for periods of up to 5 years.
How does a personal loan from Cashfirst work?
Cashfirst offers loans of between $1,000 and $15,000 to eligible applicants. In order to apply, you need to fill out an online application form, where your suitability will be assessed and you will receive a response within 60 seconds. At this stage further documents may be requested. If approved, you will receive a credit proposal (contract) by email. After you sign the contract and it is returned to Cashfirst, the funds will be transferred directly into your bank account.
Features of a Cashfirst Personal Loan
- Loan terms and amount. Cashfirst lets you borrow between $1,000 and $15,000, although the amount you are approved for will depend on your income and financials, and the loan terms are between 13-60 months.
- Approval and turnaround time. Once you apply you will receive a response within 60 seconds, and once you have been approved you can receive your loan amount in as little as 24 hours.
- Adding to your loan. You have the ability to top up your loan should you need to, although approval for this feature depends on whether you have a positive repayment history.
- Debt consolidation. Cashfirst allows you to consolidate your existing loan and bill debts into one easy to manage repayment.
- Early repayments. You are also able to repay your loan early should you be able to.
Fees and rates
The fees and rates you will be charged will be set out in your contract, which you need to agree to and sign before you are sent the loan amount. Cashfirst works on a tiered interest rate system, where your credit score and your financial situation determine the rate you will be offered. Interest rates start at 16.99% p.a. and there is a $50 application fee.
Things to consider
Before you apply for a personal loan you should consider your reasons for getting it, whether you need it, and your ability to repay the loan. If you are unable to get a loan from a bank or other lender and are in need of this money, use the percentage rate to calculate your repayments and see if they will be manageable on your budget.
The rate of 16.99% p.a. is significantly higher than other personal loans, and will contribute significantly to your repayments. Before you apply, think about whether the repayments will be manageable on your budget.
To be eligible for a Cashfirst loan you will need to be employed, earning a salary of $20,000 a year or higher and be over the age of 18. You cannot currently be bankrupt or under a Part 9 Debt Agreement. Cashfirst will consider your individual situation when assessing you for a loan, so all applications are judged on a case-by-case basis.
How to apply
To apply for a personal loan from Cashfirst you can follow the secure link on this page to the Cashfirst website to fill out an online application form. You will need to provide the following documents at some stage in the application process:
- Scanned copy of your driver’s license, passport or photo ID card with all relevant information showing.
- Medicare card.
- A current bank statement that shows 90 days of your account transaction history.
- Two recent payslips.