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Cash Converters Medium Personal Loan

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Cash Converters Medium Personal Loan
Maximum loan amount
Turnaround time 48 hours
Term of loan
4 to 24 months
Do you really need a loan today? If you would like to speak to someone about your finances you can call the free National Debt Helpline on 1800 007 007.


Apply online and borrow up to $4,600. This loan comes with quick turnaround times but high fees and charges.

The Cash Converters Medium Personal Loan offers loans between $2,050 and $4,600 with repayment terms up to 2 years. You can make early repayments with this loan and its online application process is fast. However, this loan is expensive and features an establishment fee of $400 and an interest rate of 48% p.a. The eligibility criteria also requires you to earn over $750 per week after tax. Payday loans are not a long-term financial solution and should only be used in case of an emergency.


  • Loan terms up to 730 days
  • Flexible repayments
  • Early repayments allowed


  • 48% p.a. interest rate
  • $33 dishonour fee

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Product details

Product Name Cash Converters Medium Personal Loan
Minimum loan amount $2,050
Maximum loan amount $4,600
Arrears Fee $33
Loan term 4 to 24 months
Turnaround time 24 - 48 hours
Costs $400 (establishment fee; financed under loan) + 48% p.a. interest
Available to Centrelink Borrowers? No

⚠️ 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.

How does a Cash Converters Medium Personal Loan work?

The Cash Converters medium personal loan is a medium amount credit contract that allows applicants to borrow between $2,050 and $4,600. Successful applicants will need to repay the money they borrow, along with loan fees and interest charges, over a loan term of up to 730 days. However, there is no fee for making additional repayments, so customers can pay their loan off early if they wish to, and save money over the life of the loan.

Applicants can apply for a Medium Personal Loan online via the Cash Converters website. If they meet the personal loan eligibility criteria and their application is successful, Cash Converters can deposit the money into their bank account within 48 hours from the time they're approved.

Features of a loan from Cash Converters

  • Loans from $2,050 to $4,600. If someone's application for a Cash Converters Medium Personal Loan is approved, they can borrow up to $4,600 to meet their finance requirements.
  • Loan terms from 4 months up to 24 months. Loan terms for the Medium Personal Loan are up to 24 months. However, a default term of nine months applies to online loan applications.
  • Flexible repayment schedules. Customers can repay the money they borrow on a weekly, fortnightly or monthly basis, whichever suits their income and budget.
  • Early repayment allowed. Successful applicants can repay this loan ahead of schedule without incurring any additional fees and charges. Also, the loan’s ongoing fee only applies while there is an outstanding balance remaining, so settling early will reduce the total amount they have to pay.
  • Fast online application. The application for a Cash Converters Medium Personal Loan can be completed online, and the entire process is paperless.
  • Bad-credit borrowers able to apply. Applicants who have a bad credit history are still eligible to apply for this loan. In addition to their credit history, Cash Converters will assess applicants' income, employment and ongoing expenses when deciding whether to approve an application. So, if someone can prove that they can repay the loan despite a less-than-perfect record, their application will be considered.
  • Loans approved within 24 - 48 hours. If an application is successful, Cash Converters can deposit the funds to that person's account within 48 hours of them submitting their application.

Fees and charges

Medium Personal Loans from Cash Converters incur an establishment fee of $400, which is financed under the loan, and interest is charged at an annual cost rate of 48%.

It’s also important for prospective applicants to be aware that if they are late making a repayment towards their loan, a dishonour fee of $33 applies.

Cash Converters Medium Personal Loan eligibility

To be eligible for this loan, applicants need to meet a few simple personal loan eligibility criteria. They must:

  • Be at least 18 years of age
  • Be an Australian resident
  • Earn over $750 per week (after tax)
  • Have been in their current employment for at least three months

If someone's income is from Centrelink, Cash Converters consider their application and will assess it to determine whether they can afford to repay the loan.

How to apply

Customers can apply for a Cash Converters Medium Personal Loan online via your computer, smartphone or tablet. Prospective applicants can click on the “Go to site” link on this page to be redirected to the Cash Converters website where they can start an application.

During the application process, people will need to provide the following information:

  • Their name, address, date of birth and contact details
  • 100 points of identification (ID requirements vary from state to state to check so check the Cash Converters website before applying)
  • Bank statements for the past 90 days (these are accessed securely using Internet banking logins)
  • Information about employment, income and expenses
  • Their desired loan amount and the loan purpose

Once someone has submitted all the necessary documents, Cash Converters will review their application within 24 business hours. If they approve the application, they will deposit the funds into a nominated bank account at some stage during the next business day.

Prospective applicants should compare their loan options carefully before submitting an application, to see if the Cash Converters Medium Personal Loan is suited to their circumstances.

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