How to apply for a personal loan online

Applying for a Cash Converters personal loan online can take as little as five minutes.

Go through our checklist to find out what you'll need to make the process smooth. Find out what is required, whether you meet the Cash Converters loan eligibility, how long it takes to approve a loan, and how you can repay it.

What you need to apply for Cash Converters Personal Finance

To start, all you need is your mobile phone, 100 points of ID, and your internet banking details. This helps us to verify your identity and that you can afford the loan you’re applying for.

It's good to take it slow when you're actively searching for a loan. Do your research so you can figure out whether the loan suits your individual needs and circumstances as there are many loans in the market. At Cash Converters, we offer different types of personal loan options:

• Cash Advance, which allows you to borrow $50 to $2,000 (in-store only)
• Our small cash loans, which allow you to borrow from $400 up to $2,000
• Our medium cash loans, which allow you to borrow from $2,050 up to $5,000*
• You can apply online or in-store, depending on your personal preference. Our online application form allows you to apply for a personal loan from the comfort of your couch or while you’re on a lunch break. This application form is available 24/7 so it can be completed at a time that suits you.

Otherwise, if you would prefer chatting to someone in person about your options, head in-store to chat to our knowledgeable team who can provide any extra info you need.

*Deposit into bank account up to a maximum of $4,600, due to the establishment fee being financed with a $5,000 loan.

What ID will I need to have with me?

The types of ID you can use include a driver’s license, Australian passport, utility bill (showing your name and current address), and Medicare card. The 100 points is made up of the eligible IDs that you’ve got available.

Check out our Frequently Asked Questions for more information.

What if I am on Centrelink payment benefits?

If you’re applying for a small cash loan while on Centrelink payments, you’ll be asked to provide your MyGov login. This allows us to quickly verify your Centrelink payments.

Our assessing team will make sure that the repayments aren’t more than 10% of your net income.

The loan verification process

Every application is individually assessed for the cost and suitability. 

Your loan is assessed as we gather some personal details to verify your identification, along with details of your employment, income, and expenditure. Every application is individually assessed for affordability and suitability. The team will also conduct a credit check which will leave a general finance inquiry on your credit file. However, this is just one of many things that they take into consideration when reviewing your application. 

Australian legislation requires we also gather the last 90 days of bank statements to assess your application. We do this online by safely and securely collecting the transaction data from your internet banking.

Our in-house system is compatible with most Australian banks and credit societies, and your internet banking details are never stored or shared with us.

Once you've completed your loan application online, a Cash Converters customer service representative will be in touch if we require any further information.

If you experience any difficulties processing your application online, please give us a call on 13 CASH.

How long does the Cash Converters loan review process take?

How long a Cash Converters loan takes to process depends on if all the information has been submitted with your application. The sooner you send us the required documents, the sooner you will get an outcome for your loan application. 

If you have all the documents available when you apply, the loan verification process can take as little as 24 hours whether you apply online or in-store.

Once your loan application has been approved, funds are deposited in real time to your account (this could be as little as 20 minutes depending on your bank).

Repaying a Cash Converters loan

So that you don’t have to think about making manual payments, which puts you at risk of missing a payment, direct debits are scheduled for your pay dates. 

You can also make extra payments to pay out your loan sooner – simply call 13 CASH.

We’ve got some tips on managing your personal loan repayment.

Make repayments online with My Loans

For those who prefer to pay their Cash Converters loan online, we’ve made it easy with our My Loans app and Cash Converters online portal.

Within My Loans you can check the status of your loan, your due dates, make payments and more all from your mobile device.

The registration process is simple. If you’re having trouble with access to your Cash Converters online login or linking your loans to your My Loans account, give our friendly team a call on 13 CASH.

It's easy to apply for a Cash Converters loan in Australia. Once you're prepared for the review process, you'll be ready for whatever comes your way next.