Cash Converters Loans

Cash Converters is a lender specialising in short term loans as well as pawnbroking, and the buying and selling of goods. Their short term loans begin at $50.

Cash Converters was established in 1984 as a single store by Brian Cumins and his business partners. Since then the lender has expanded to more than 150 stores throughout Australia and over 700 stores internationally. They buy and sell second-hand goods including jewellery and electronics, offer pawnbroking services, car finance as well as Cash Advance and Personal Loans.

Cash Converters loans start at $50 and are available for as much as $4,600. Repayment terms vary from 4 weeks to 12 months depending on how much you borrow. You’re eligible to apply for their personal loan if you’re over the age of 18.

Cash Converters Personal Loan

Cash Converters Personal Loan

  • Bad credit borrowers OK
  • Borrow up to $2,000
  • Fast turn-around time
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Cash Converters Personal Loan

Borrow cash over a longer period of time if you earn $300 a week or more.

  • Loan amount: $2,000
  • Loan term: Up to 12 months
  • Turnaround time: 24 - 48 hours
  • Fees: 20% establishment fee + 4% monthly fee
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Rates last updated August 19th, 2017
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
Cash Converters Personal Loan
Up to 12 months
24 - 48 hours
20% establishment fee + 4% monthly fee
Borrow cash over a longer period of time if you earn $300 a week or more.
Cash Converters Medium Personal Loan
Up to 12 months
Next business day
$400 (establishment fee; financed under loan) + 48% p.a. interest
Apply for up to $4,600 and receive approved funds in your account in two business days.

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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 Personal 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. This loan ranges from $50 to $2,000 and is repaid within 4 to 6 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 1 year. You can apply online or in-store as long as you've been employed for 3 months and earn over $750 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 and benefits of a Cash Converters’ Personal Loan

  • Short loan term. This means you’ll be carrying around a debt for a shorter period of time and won’t have to worry about years of budgeting to make repayments. The smaller the loan the shorter the loan term can be. The longest available loan term through this lender is 12 months which is only offered for loans closer to the $2,000 maximum.
  • Fast turnaround time. Once you are approved for a Personal Loan or other types of loan from this lender you’ll receive your money quickly. On average, borrowed money is transferred to your bank account within 24 to 48 hours. Smaller Cash Advance Loans are available sooner if you bank with a major firm.
  • Small loan amounts. Sometimes you don’t need as large a loan amount as is being offered. This is when these Personal Loans from Cash Converters come in handy. You can get a personal loan for as little as $400, which will save you money on repayments as well as time on the loan. This is an option for small issues that pop up at a moment’s notice. The maximum amount to borrow through Cash Converters’ personal loan is $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 you to get cash by using valuable items as collateral. Instead of outright selling your items you can 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. You 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. Simply bring in your quality items in good condition along with 100 points of identification and you can get cash for the item.

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. 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.

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54 Responses

  1. Default Gravatar
    DeltaJune 27, 2017

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

    • Staff
      JonathanJune 28, 2017Staff

      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 this page instead.

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

      Hope this helps.


  2. Default Gravatar
    KimJune 8, 2017

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

    • Staff
      LiezlJune 8, 2017Staff

      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.


  3. Default Gravatar
    elmarieMay 25, 2017

    Hi, I like to borrow 2000. How much must I pay back?

    • Staff
      RenchMay 26, 2017Staff

      Hi Elmarie,

      Thanks for your inquiry.

      With Cash Converters, the repayment terms vary up to 12 months. The computation would basically include interest and associated fees. Best to contact Cash Converters to get the exact computation for your $2000 loan.

      Meantime, some other small personal loans are listed on this page, which you may like to check and compare. You can click on the ‘Go to site’ button if you wish to apply and be redirected to the lender’s official page.

      Hope this helps.


  4. Default Gravatar
    MelFebruary 26, 2017


    I would just like to check if you are able to apply for a loan if you are on Centrelinks Newstart payment?

    Thank you

    • Staff
      AnndyFebruary 26, 2017Staff

      Hi Mel,

      Thanks for your question.

      Cash Converters accepts applicants who receive Centrelink payments.

      You may also check this page to compare other short-term lenders and banks that may consider you for a loan.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.


  5. Default Gravatar
    MargaretDecember 22, 2016

    I would like to borrow $1000. How long would I have to pay it back and how much a fortnight.

    • Staff
      AnndyDecember 22, 2016Staff

      Hi Margaret,

      Thanks for reaching out.

      With Cash Converters, their personal loans can be repaid over 12 months.

      For a loan amount of $1,000 with a repayment period of say, 12 months, the average weekly repayment will be $32. You can visit Cash Converters website to get a quote for your loan amount under different repayment period.

      You may also want to consider other short-term cash loans listed here.

  6. Default Gravatar
    NuniiOctober 29, 2016

    Hi there. I was wondering if I could get a loan to purchase a vehicle? I need about $4000.00 and I would like pay it back in like 3 years if that’s possible. Thanks.

    • Staff
      JasonOctober 29, 2016Staff

      Hi Nunii.

      Thank you for your inquiry.

      The maximum amount that you can borrow with Cash Converters is only $2,000. Please feel free to check out this link for a comparison of several car loan providers or lenders that may be able to cater you needs.


  7. Default Gravatar
    graceOctober 28, 2016

    if i borrow 1000 how much is to be paid over 12 months

    • Staff
      HaroldOctober 28, 2016Staff

      Hello Grace,

      Thanks for your questions.

      For Cash Converters Personal Loans come with a 20% establishment fee + 4% monthly fee. The longer you take to repay the loan, the more you’ll end up paying in monthly fees. If you fail to make your repayments on time, a dishonour fee of $33 applies. There are no additional daily fees and no rescheduling fees.

      I hope that helps.


  8. Default Gravatar
    GregOctober 10, 2016

    Hey guys i am an international student, getting a monthly deposit of 3000$ from back home(international transfer) I need an urgent loan to pay for a uni fee. I can pay it back in like 5 days with interest.

    • Staff
      ElizabethOctober 11, 2016Staff

      Hi Greg,

      You’re able to apply for a cash advance from Cash Converters but you’ll need to apply in-store as you’re not a permanent resident. You can find a list of store locations on the Cash Converters website. Keep in mind your eligibility depends on a range of factors, and be prepared to show 90 days of your bank statements as well as your ID.

      Hope this helps,


  9. Default Gravatar
    DelisileOctober 3, 2016

    Will u borrow me money i jus stated to work thi month?

    • Staff
      ElizabethOctober 4, 2016Staff

      Hi Delisile,

      As long as you earn over $300 per week you can apply. As you have not been employed long, Cash Converters may call your employer to confirm your work situation.



  10. Default Gravatar
    justinSeptember 1, 2016

    YCan i get a $200 loan im on a disability pension

    • Staff
      ElizabethSeptember 1, 2016Staff

      Hi Justin,

      Cash Converters will consider you for a loan as long as you earn over $300 per week. Keep in mind your eligibility depends on your ability to afford the loan. You can submit your application on the Cash Converters website or at a store.

      Hope this helps,


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