We’re here to help customers make the right loan choice. There are many different and sometimes confusing loan names used by different lenders, so we’d like to help you by clearing up the confusion.

What is a Personal Loan?

Personal loans are generally larger loans that are paid back over a longer period than our shorter term, small amount Cash Advance loan.

How much can I borrow?

With a Cash Converters small personal loan, you can borrow anything from $400 to $2,000. With a Cash Converters medium personal loan, you can borrow from $2,050 up to $5,000*.

*Deposit into bank account up to a maximum of $4,600, due to the establishment fee being financed under MACC loan.

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Who is Eligible?

Even if you have a less than perfect credit history, you may still be eligible for a loan.

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Everything you need to know about Cash Converters' loans.

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Personal Loans
  • What is the repayment period for a Personal Loan?

    Our Personal Loans' repayment terms range from 2 to 24 months, depending on the type of loan.

  • How do I apply for a Personal Loan?

    You can apply for a personal loan easily online or instore. As a responsible lender, we'll take a close look at the information you provide us. This is to make sure that the personal loan meets your needs and that we won't lend you more than you can afford to repay.

  • How long does it take?

    It takes less than 10 minutes to apply for our Personal Loans. Applications are generally processed the same day they're submitted but can take up to 48 hours to process. As soon as your Personal Loan application is approved – and as soon as you have signed your electronic loan contract – you could have the cash in your bank account in as little as 20 minutes.

Fee Disclosures

Our Small Personal Loans incur a 20% Establishment Fee and a 4% monthly fee, based on the amount borrowed. For example, a small loan of $1,000 over 9 months has fees and charges totalling $560 (1 x $200 + 9 x $40), resulting in a total repayment of $1,560. The minimum loan term is 2 months and a maximum of 12 months.

Our Medium Personal Loans incur a $400 establishment fee and interest at an Annual Cost Rate of 48%. For example, a medium loan of $3,000 borrowed over 1 year would equate to a total amount payable of $4,303 (including a $400 establishment fee). The maximum loan term is 24 months for medium amount loans.

Our loans are repayable in weekly, fortnightly or monthly instalments. Loans can be settled early with no penalty and fees will only be charged whilst there is an outstanding balance on the loan, hence early settlement will reduce the amount payable on the loan. Loans are subject to assessment criteria and suitability. The maximum annual percentage rates on our loans is 217.95%.