MiFinance Short Term Cash Loan

Information verified correct on April 24th, 2017

Apply online with MiFinance for up to 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 per week 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 $1,000.

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.

Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
Sunshine Short Term Loans
9 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
Apply for a short term loan and you could borrow up to $2,000
Ferratum Cash Loans
Up to 6 mths
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
A small loan from Ferratum lets you borrow up to $1,900 without a credit check
Cash Train Loans
10 weeks or 3 months
1 Business Day
20% of principal amount (establishment fee) + 4% monthly charge
Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application

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 .

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.

Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question