Cash Train Online Loans

There are many options when it comes to accessing credit. If someone needs a small loan to cover them, they might consider a short term loan. These loans are designed for unexpected expenses and usually have more flexible application criteria than what is offered by banks or other lenders, making them a good option for those earning a lower income, with bad credit or those who receive Centrelink payments.

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Name	Product	Maximum Loan Amount	Term of Loan	Turnaround time	Arrears Fee	Costs	Fortnightly Repayment (for $1500 Loan)
Cash Train Loans		$2,000	10 weeks or 3 months	1 Business Day	$25	20% of principal amount (establishment fee) + 4% monthly charge	$396	A small cash loan from $200 that can be in your account in 1 business day. Simple eligibility criteria and transparent costs.	More Info	Compare	loading Fetching your data...

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Cash Train is a lender who specialises in these types of loans and helps out Australian customers in need of cash. When choosing a short term loan lender applicants need to ensure they are reputable, reliable and contactable. Cash Train is a trading brand of MONEY3 Services Pty Ltd Credit Licence Number 389 189. They established operations in 2009, with their management team being involved in short term loans since 2003.

Types of short term loans from Cash Train

Cash Train offers short term loans of between $200 and $2,000 (up to $800 for new customers). Cash Train Loans are not meant to be used to fix longer term financial issues or pay for recurring expenses.

Features of Cash Train short term loans

Short term loans from Cash Train have some notable features which make them an option to consider for some customers.

• Fast loan approval and payout. Cash Train approves loans online through its simple application process. Funds can be sent to a successful applicant's bank account within one business day of them being approved, but how long it actually takes for the money to be transferred to their account depends on who they bank with.
• Loan amount. Customers can borrow between $200 and $2,000 (up to $800 for new customers).
• Loan repayments. The repayment schedule outlined in a customer's contract will depend on their pay frequency. If they are paid weekly they will make 10 repayments over 10 weeks, if they are paid fortnightly they will make five repayments over 10 weeks, and if they are paid monthly they will make three repayments over a three-month period.

Fees and charges

Cash Train is transparent about the fees and charges of its short term loans. The amount someone pays will depend on the size of loan they take out and their repayment schedule.

Applying for a Cash Train Loans

In order to apply for short term loan from Cash Train successful applicants will need to meet the following eligibility criteria:

• Be over 18 years of age
• Be employed (casual and part-time employees can apply, but you cannot be self-employed)
• Earn over $1,200 a month
• Be paid regularly into their bank account i.e. weekly, fortnightly or monthly, and not in cash
• If someone has bad credit they can still be considered for a loan. Cash Train looks at their current financial situation, loan purpose and their ability to make your repayments.
• If someone receives Centrelink payments, at least 50% of their income needs to come from employment and they need to earn $1,200 per month from that employment

Customers will need to provide Cash Train with details of their employment and any benefits they receive. They will also need to provide statements for the last ninety days so Cash Train can determine what kind of loan amount they can afford.

Frequently asked questions

There are a number of similar loan products on the market, so prospective borrowers should compare their options carefully before submitting an application.