Cigno short-term loans

You can borrow $1,000 online and receive funds on the next business day. You’ll have to pay 5% of the loan amount upfront.

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Cigno provides short-term financing up to $1,000. While Cigno isn't a lender, it acts as an agent connecting you to Gold Silver Standard Finance, which provides the financing. These short-term loans are not your typical payday loans. For starters, you'll have to pay 5% of the loan amount on the day you receive your funds. The loan term is short, giving you 56 days to repay your loan. Your first repayment will be due within 20 days. Your repayments will also vary every repayment cycle, from 35% of your loan amount for the first repayment, to 45%, 60% and finally 74% of your total loan amount.

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.

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 56 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.

What are the risks of short term 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. 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.

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: $22
  • 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.

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10 Responses

    Default Gravatar
    joshuaMarch 19, 2019

    I need some money cause I need to

      Default Gravatar
      NikkiMarch 20, 2019

      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 56 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!


    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!


    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. :)


    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.


    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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