MiFinance Short Term Cash Loan

Apply online with MiFinance for up to $800 and cover those immediate expenses.

If you have an emergency expense that you need to cover, MiFinance can help you get the financing you need. MiFinance has flexible eligibility criteria based on your ability to repay the loan. If you’re over the age of 18, earn over $400 and have been employed for at least three months, you can apply for up to $800. If you have an ABN and need to cover business expenses, you can consider MiFinance’s ABN Loan, available for up to $800.

How can you get a short term cash loan?

You apply for the loan online and select any amount between $100 and $800. When you submit your details, you’ll be approved for an amount based on your income and expenses. The bank details you provide will be used to verify your income, although sometimes a call will be made to your employer. If you’re approved, your loan will be deposited straight into your bank account.

Key features to know about

  • Loan amount. You can borrow any amount between $100 and $800.
  • Repayment terms. Terms are set based on your income frequency – weekly, fortnightly and monthly payments are available.
  • Eligibility. You can apply for a loan if you are over the age of 18 and earn $400 per week. If you receive Centrelink payments, at least half your income has to come from elsewhere. You also need to have been employed for at least three months.
  • Purpose of the loan. You can use the loan for anything, from car repairs to a forgotten bill.

Compare Other Short Term Loans

Whilst we don't compare this loan directly, here are some other loans that are similar.

Updated December 16th, 2018
Name Product Maximum Loan Amount Term of Loan Cash Deposited In Costs Fornightly Repayment (for $1500 Loan)
$2,000
9-15 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-15 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
$2,000
Up to 2 years
3 hours - conditions apply
47.8%
$316.7
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
$2,000
62 days to 1 year
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
$396
A loan up to $2,000 with terms up to 62 days to 1 year. Centrelink cannot be your primary source of income.
$2,000
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
$396
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
$2,000
3-12 months
1 business day
Establishment fee from 10% of loan amount + monthly fee from 2%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
$2,000
6 to 12 months
Overnight
20% of loan amount + 4% of loan amount each month
$396
A short-term loan from $500 that you can have up to 12 months to repay. All credit histories considered.

Compare up to 4 providers

How much will the loan cost?

What you will pay:

  • An establishment fee of 20% of your principal loan amount
  • A monthly fee of 4% of your principal loan amount

What you might pay:

  • If you miss a payment or a direct debit is dishonoured, you’ll be charged $30
  • If you call to reduce a payment, the fee is $20.

Want to apply? Here’s how.

If you’re interested in applying for a Short Term Cash Loan from MiFinance, you can start your online application. You have to be:

  • Over the age of 18
  • A permanent Australian resident or citizen
  • Earning at least $400 per week
  • Paid into your bank account
  • Able to afford the repayments
  • Not receiving more than half your income from benefits

If you answered ‘yes’ to all the above, you can start getting your information ready to complete the application. You’ll need:

  • Personal details including your name, address and a form of ID
  • Your employment status and income type (including benefits)
  • Information regarding your monthly expenses
  • Your banking details
  • How much you’re looking to borrow and for what purpose

MiFinance’s short term loan solution is one to consider if you’re in need of emergency cash, but as there are other lenders in the market, compare your options before you apply.

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