Consider First Stop Money for a quick cash advance or personal loans when you're short on money.
First Stop Money is a lender that specialises in loaning small cash advances. They offer a minimum loan of $350 and up to $1,500 for repeat customers. Loan applications are processed online and if approved, are typically transferred into your bank account that same day.
For a short-term personal loan, they charge a 20% fee of the amount borrowed and an additional 4% each month the loan is not repaid. The aim of First Stop Money is to provide a payday loan to those who need extra cash just until their next paycheque arrives.
Comparison of Payday Loans
Whilst we don't compare loans from First Stop Money directly, use the tables below to see how they compare against other short term loans
Types of personal loans from First Money Stop
- Payday loans. First Stop Money offers short-term personal loans to help smooth over cash flow problems. They provide intermediate financial assistance to help cover unexpected additional costs like medical bills and emergency expenses. Fees vary according to the amount of the loan. A 20% establishment fee is charged when the loan is taken out, followed by a 4% monthly fee.
- Repeat loans. Customers who have been approved for a payday loan are also eligible for a repeat loan. This loan allows you to borrow up to $1,500. If however, you apply for three loans within 90 days, First Stop Money suggest you reconsider the loan.
Features and benefits of a First Stop Money personal loan
- Fast application process. Applying for a personal loan from First Stop Money is a straightforward process that lets you quickly explain the details of the loan you need. The application is online and can be completed without having to track down extensive financial information. This saves time and means you receive a faster response on the status of your application.
- Widely accessible. First Stop Money places few restrictions on who is eligible to apply for a personal loan. Their payday loans are available to any Australian citizen who is over 18 and engaged in full-time employment. Although, the lender will perform a credit check to ensure you are capable of repaying the loan, their service is an accessible option for those in need of a quick cash solution.
- Fast cash advances. Once your application is approved, in most cases, the money will be transferred immediately into your bank account. This is useful in emergencies when you urgently need access to extra funds. The speedy bank transfers can also help reduce financial stress when there are unexpected bills to be paid.
How to apply for a personal loan from First Stop Money
If you are interested in a First Stop Money personal loan, click ‘Go to site’ and follow the prompts to the online application form. To be eligible for a personal loan, you must be:
- An Australian citizen
- Over 18-years-old
- Employed full-time and earning over $1,200 a month
Consider a First Stop Money personal loan if you are in need of a quick financial stopgap and intend to repay it as soon as you receive your next paycheque.