ClearCash is an online lender that offers short-term loans up to $3,000.ClearCash offers loans up to $3,000 with repayment terms that range between 4 to 12 months. It charges 47.8% APR.
Maximum loan amount
Next Business Day
Term of loan
|Product Name||ClearCash Loan|
|Minimum loan amount||$500|
|Maximum loan amount||$3,000|
|Loan term||4-12 months|
|Turnaround time||Next Business Day|
|Requirements||You must have a steady income - Centrelink accepted but 50% or more of your income must come from employment & be over 18.|
|Available to Centrelink Borrowers?||Yes|
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. Find out more here: https://www.finder.com.au/coronavirus-financial-help
⚠️ 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 does a ClearCash Loan work?ClearCash loans range between $500 and $3,000. The loan terms vary between 4 to 12 months. Applicants can apply for a loan online and must meet the eligibility requirements. If approved, customers can receive funds within one hour of accepting the contract.
Borrowers are required to make repayments weekly, fortnightly or monthly, which are debited directly from the nominated account. Borrowers will also be charged an APR of 47.8% APR. As an ongoing line of credit, it will remain open until it's repaid and the borrower asks for it to be closed.
Features of a ClearCash Loan
- Loan amount. Credit limits range between $500 and $3,000.
- Top-up or redraw. Customers can log in to the member's area to see if they are eligible to increase their credit limit or top-up their cash.
- Fees. Applicants will be charged an interest rate of 47.8% APR and the other fees and charges depend on the frequency of their repayments. They will receive a full fee statement as part of their loan contract. Applicants need to read this carefully and ensure they can afford it before signing anything.
- Repayments. Repayments can be made weekly, fortnightly or monthly and are debited directly from their account automatically. Customers will receive repayment reminders three days before so they know the money will be coming out.
- Turnaround. Borrowers can apply online in a few minutes and find out if they are approved soon after. After they accept their contract, their credit limit can be made available to them within the hour.
Compare Other Short Term Loans
While we don't compare this loan directly, here are some other loans that are similar.
How to apply for ClearCash Loan
People can apply for one of these loans online but must check if they meet the eligibility requirements and have the necessary information to complete the application.
Applicants are still eligible if:
- They receive Government benefits
- They are currently, or have previously been, bankrupt
- They have any defaults listed on your credit file
Applicants need to provide the following information as part of their application:
- How much they want to borrow and how long for
- The purpose of their loan (temporary cash shortfall, debt payments, etc.)
- Their income and expenditure
- The last 90 days of their banking statements or their internet banking details
- Personal details including their residency status and their age
- Whether they have missed any loan repayments in the last six months
How can customers contact ClearCash?
If customers would like to get in contact with ClearCash to discuss their account or a new cash loan, they can find their phone number located in the top right hand corner of its official website.