Cash Converters
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Cash Converters Loans

Cash Converters has a range of payday loans, with borrowing limits up to $4,600. These loans are expensive and come with high fees.

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Cash Converters operates both online and across more than 150 stores in Australia. They specialise in buying and selling second-hand goods including jewellery and electronics, pawnbroking services, car finance as well as cash advance and personal loans. They have three payday loans, including a cash advance loan (from $50 up to $2,000), a personal loan (from $400 up to $2,000) and a medium loan (from $2,050 up to $4,600). For loans under $2,000, there is a 20% establishment fee and a 4% monthly fee. For loans above $2,001, the establishment fee is $400, and an interest rate of 48% p.a. may be charged. Payday loans are not a long-term financial solution and should only be used in case of emergencies.

⚠️ 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.

Compare Cash Converters Loans

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Cash Converters Small Loan
up to 12 months
Within 48 hours
20% establishment fee + 4% monthly fee
Cash Converters offers this loan from $400 that gives you up to 12 months to repay.
Cash Converters Medium Personal Loan
4 to 24 months
24 - 48 hours
$400 (establishment fee; financed under loan) + 48% p.a. interest
A larger loan up to $4,600 available even if you have bad credit. You'll have up to 2 years to repay.
Cash Converters Cash Advance Loan
4 to 20 weeks
Same day - conditions apply
20% of loan amount (establishment fee) + 4% of loan amount each month
Apply in-store for a Cash Advance Loan from Cash Converters

How do Cash Converters loans work?

Cash Converters isn’t a typical lender as they are mainly a second-hand goods shop, but they do offer different loans for personal uses. Cash Converters Small Loans are available from $400 to $4,600 with funds appearing in your account on the next business day. If you're looking for a smaller loan, a Cash Advance Loan starts at $50. Repayment terms vary depending on the loan you opt for.

Types of loans available from Cash Converters

  • Cash advance loan. These loans can range from $50 to $2,000 and is repaid within 4 to 20 weeks. If you have an account with one of Australia’s major banks (ANZ, NAB, Commonwealth Bank, or Westpac) your funds are usually approved within a few hours, while those who bank with others will have their funds available the next business day.
  • Medium personal loan. You can apply for between $2,050 and $4,600 with the Medium Personal Loan and pay it off within 24 months. You can apply online or in-store as long as you've been employed for 3 months and earn over per week.
  • Personal loan. You can apply for a minimum of $400 and up to $2,000. Repayment terms vary up to 12 months. You can apply if you have bad credit or receive Centrelink payments and after signing the contract, you could receive your loan amount within a few hours, or at the latest the next business day.

How much will the loan cost?

For loans up to $2,000, you will be charged a 20% establishment fee and a 4% monthly fees. Loans over $2,000, for example, the Medium Personal Loan, will come with a $400 establishment fee and an annual cost rate of 48%.

Features of a Cash Converters’ Personal Loan

  • Short loan term. The smaller the loan the shorter the loan term can be. The longest available loan term is 24 months which is only offered for loans closer to the $4,600 maximum.
  • Turnaround time. This depends on who you're banking with. Cash Converters can send the funds within 20 minutes but it could take up to one or two business days depending on who you're banking with.
  • Small loan amounts. Cash Converters offers personal loans between $400 and $4,600.

What other products does Cash Converters offer?

  • Second-hand shop. Cash Converters’ second-hand shop sells a variety of goods including jewellery, electronics, sports gear and other near-new items at affordable prices. You can shop at their physical locations or through their Webshop online.
  • Pawnbroking. As Australia’s largest pawnbroking service, Cash Converters allows people to get cash by using valuable items as collateral. Instead of outright selling the items, people have the option to get the item back after you pay back the small loan. All items are assessed for their worth on a case-by-case basis.
  • Car finance. Cash Converters offers cars loans through its partner Green Light Auto Finance. Customers can apply for a loan up to $35,000 and flexible payment options are available.
  • Buying products. Cash Converters also buys goods based on their appeal, age, and condition. People can take their quality items in good condition along with 100 points of identification and receive cash if they accept it.

How to apply for a Personal Loan from Cash Converters

When you’re looking to apply for a personal loan or any other loan from Cash Converters you’ll have to first see if you’re eligible. Applicants must be at least 18 years old, reside in Australia and have been employed for at least three months.

Eligibility is assessed on a case-by-case basis, but applicants must earn at least per week in order to be assessed.

To apply for a loan, you'll need Internet banking so Cash Converters can access your bank statements from the previous three months. You will also need 100 points of ID and online access to your income statement if you receive Centrelink payments.

Once the application is submitted, Cash Converters will run the necessary credit and employment checks. If everything is approved, the money will be transferred to the applicant's account.

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60 Responses

    Default Gravatar
    DannyDecember 9, 2023

    I am on DSP get $1160 fortnight have state Dept fines but are paying off I need $3000 for dentures asap

      SarahJanuary 5, 2024Finder

      Hi Danny, You may be eligible for a Good Shep no interest loan, of up to $3000 – these are usually available to help with urgent medical bills and dentures may fit that criteria:

      Hope this helps!

    Default Gravatar
    DamienDecember 14, 2018

    I got $1500 dollar loan today and I want to pay the loan back tomorrow how much extra will I have to pay?

      JohnDecember 17, 2018Finder

      Hi Damien,

      Thank you for reaching out to finder.

      You might want to contact Cash Converters Loan directly to get the exact amount you need to pay. But generally, these are the fees included when taking out a loan from them. 20% establishment fee + 4% monthly fee. Hope this helps!


    Default Gravatar
    sunshineSeptember 26, 2017

    i wanted to borrow the money to start a business

      Default Gravatar
      DanielleSeptember 27, 2017

      Hi Sunshine,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      If you’re looking to apply for a personal loan or any other loan from Cash Converters you’ll have to first see if you’re eligible. The lender requires all applicants to be 18 years or over and reside in Australia. You also need to have been employed for at least 3 months. Eligibility is on a case-by-case basis, but you will need to earn at least $300 per week in order to be assessed. In order to apply for a loan, you’ll need to have Internet banking so Cash Converters can access your bank statements from the previous three months. You will also need 100 points of ID and online access to your income statement if you receive Centrelink payments. Once you apply the company will run the necessary credit and employment checks. If everything is approved the money will be transferred to your account. If you wish to proceed simply click the green “Go to Site” button.

      I hope this helps.


    Default Gravatar
    DeltaJune 27, 2017

    Hi! I want borrow $5,000 to pay for school fees and car fixed.

      Default Gravatar
      JonathanJune 28, 2017

      Hi Delta,

      You may click “More” on the lender if you wish to get the details. But if you wish to check other lenders and see if there are other deals, you may visit our list of personal loans.

      You can select the “Go to Site” green button of your chosen lender to proceed with your application.

      Please make sure that you have read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      Also if you can, contact first the lender and discuss your options and chances of approval before you send anything final for your application.

      Hope this helps.


    Default Gravatar
    KimJune 8, 2017

    Am I eligible for fast loan of 300. I receive 900 p/f expenditure bout 400 max. Thank you

      Default Gravatar
      LiezlJune 8, 2017

      Hi Kim,

      Eligibility for this loan is on a case-by-case basis. However, you have to 18-years-old or over, reside in Australia and earning at least $300 per week in order to be assessed. Please refer to the “How to Apply” section above for more information. Once you have confirmed that you meet the eligibility criteria, you can visit their website to apply. You may also click the green “More” button to get more information about the loan.

      I hope this has helped.


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