Cigno Short Term Loan

Find out exactly how a Cigno loan works and how much you will be charged.

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Cigno provides a type of short term financing with amounts of up to $1,000 available. While Cigno isn't a lender, it acts as an agent to connect you to Gold Silver Standard Finance, which will provide you with financing. Use this guide to learn this loan works and how much you might be charged with this loan.

How does a Cigno loan work?

Cigno offers loans up to $1,000. People can apply online and when the application is submitted, Cigno will review the last three months of their bank statements to help determine their eligibility. If approved, customers are required to pay a fee of 5% of the loan amount on the day they receive your funds. This is usually the day after they're approved.

The entire loan needs to be repaid within 62 days and the first repayment is due within 20 days. Customers will receive their repayment schedule when they're approved.

Features offered by Cigno Loans

  • Loan amount. Customers can apply to borrow up to $1,000.
  • Turnaround. Once approved for a loan, customers can expect to receive your funds within the next business day.

Fees charged on a Cigno loan

Cigno is not regulated under the National Consumer Credit Protection Act 2009. The fees it charges are as follows and depend on how many payments you make towards your loan.

  • 1-payment loan: 35% of your loan amount
  • 2-payment loan: 45% of your loan amount
  • 3-payment loan: 60% of your loan amount
  • 4-payment loan: 74% of your loan amount

Ongoing fees

  • Account-keeping fee: $5.95

Default fees

The following fees may apply in the case of a default or rescheduled payment:

  • Same day deposit fee: $16
  • Priority transfer fee: $16
  • Extension of first payment fee: $20
  • Change of payment date and amount fee: $22
  • Payment reschedule fee: $30
  • Collections phone contact fee: $8.80
  • Collections tracking fee: $50
  • Investigator/handover fee: $175 + legal fees
  • First dishonour letter fee: $30
  • Second dishonour letter fee: $50
  • Third dishonour letter fee: $50
  • Dishonoured payment fee: $79

How to apply

You can apply for a Cigno loan online or you can contact GSSF directly. If you apply with GSSF, the application may be longer and the funds are deposited via a cheque in the mail rather than with an electronic funds transfer (EFT). When completing the application, you'll need to provide the following information:

  • Your personal details, such as your address and your name
  • Your contact information
  • Bank statements for the past 90 days that demonstrate a regular income
  • Identification such as your passport number, driver's licence, proof of age card or birth certificate

Your credit details are obtained through Credit Sense, which is an external company that uses your online banking information to provide Cigno with the required details.

If approved, you can expect to receive your funds the same day, or on the next business day if you file your application after 2.40pm AEST.

⚠️ 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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10 Responses

  1. Default Gravatar
    joshuaMarch 19, 2019

    I need some money cause I need to

    • Avatarfinder Customer Care
      NikkiMarch 20, 2019Staff

      Hi Joshua,

      Thanks for reaching out! As it says on our page – You can apply for a Cigno loan online and you’re able to apply for up to $1,000. When you submit your application, the last three months of your bank statements will be reviewed to help determine your eligibility. If you’re approved you will be required to pay a fee of 5% of your loan amount on the day you receive your funds. This is usually the day after you’re approved.

      The entire loan needs to be repaid within 62 days and the first repayment is due within 20 days. You’ll receive your repayment schedule when you are approved. As a friendly reminder – review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      Hope this helps!


  2. Default Gravatar
    HeidynDecember 1, 2018

    Change my payments to $30 a fortnight

    • Avatarfinder Customer Care
      JohnDecember 3, 2018Staff

      Hi Heidyn,

      Thank you for reaching finder.

      Since finder is a comparison website that assists users in their financial choices, you may need to contact Cigno directly if you took out the loan through them. You may check on repayment terms that could be flexible to you as well as Cigno. Hope this helps!


  3. Default Gravatar
    ChevyOctober 12, 2018

    Do I already have a loan with Cigno loans?

    • Default Gravatar
      JoelOctober 12, 2018

      Hi Chevy,

      Thanks for leaving a question on finder.

      Please note that you came through finder. We are a comparison and general information website. Unfortunately, we do not have records of your loans on our database. However, you can contact Cigno directly at (07) 5644 3500 to clarify if you already have a loan with them.

      Please send me a message if you need anything else. :)


  4. Default Gravatar
    MauriceSeptember 24, 2018

    How do I find out if my loan has been approved or not?

    • Avatarfinder Customer Care
      JhezSeptember 24, 2018Staff

      Hello Maurice,

      Thank you for your comment.

      Once your Cigno application is received, they will process and let you know within hours whether you have been approved. Applications over the phone may take a little bit longer but are still a very easy process.

      If you have not received the update yet from Cigno, you can contact them to ask about your application status.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  5. Default Gravatar
    VickiSeptember 25, 2017

    I am trying to send bank statement and certified copy of change of address. Can I scan it? If so what is the address. Thank you

    • Default Gravatar
      JonathanSeptember 25, 2017

      Hello Vicki,

      Thank you for your inquiry.

      Generally, they are to be sent in a mail. However, lenders may allow you to send an electronic copy of your statements to their email for faster processing. Take note though that on certain occasions, a printed copy would still be later needed for documentation purposes.

      You can find the email address on their website. You can contact the lender directly for more information.

      Hope this helps.


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