How the Cashies Loan Works
Find out everything you need to know before starting your application.
Find out everything you need to know before starting your application.
The Cashies Loan is a line of credit. A line of credit is a type of continuing credit contract that gives you access to an approved credit limit that you can tap into whenever you need. You choose how much to draw down and you only pay interest on the amount you use – not the full limit.
Unlike a traditional loan where you can’t redraw, with a line of credit like the Cashies Loan you can withdraw funds, as needed, up to the approved credit limit.
Interest is only charged on the amount outstanding and once repaid, that portion becomes available for redrawing again. The minimum redraw for the Cashies Loan is $200.
A personal loan gives you a lump sum for a one-off amount.
On the other hand, the Cashies Loan – a continuing credit contract – is a reusable loan that can be accessed on a more flexible basis, provided you meet our eligibility criteria, up to your credit limit.
| Feature | Cashies Loan | Typical fixed-term $5,000 personal loan |
|---|---|---|
| What it is | Continuing credit contract with an approved credit limit that you can redraw from as needed | One-off, fixed-term personal loan |
| Amount / limit |
|
|
| Term | Ongoing – revolving with access to funds up to credit limit |
|
| Fees |
|
|
| Interest | 48% p.a. interest, charged only on amounts outstanding |
|
| Repayments | Flexible weekly, fortnightly, or monthly | Flexible weekly, fortnightly, or monthly |
| Access to funds | Ongoing access, with funds transferred to your bank account within minutes** | One-off, the full approved amount is transferred with varying timeframes |
| Redraws*** |
|
No redraw feature |
| Credit Limit Increase |
|
Not available |
| Credit check |
|
Credit check upon application |
| Great for | Ongoing or staggered costs where you want flexibility | A single, defined expense where you want predictability |
*This comparison is for illustrative purposes only and is based on a $5,000 Medium Amount Credit Contract example. The figures and features shown are illustrative to highlight key differences between a Cashies Loan and a typical fixed-term personal loan available to borrowers with poor credit. Loan terms and eligibility vary by lender.
**Money in minutes - your funds will be disbursed to your bank account in minutes via the fast payments system.
*** View information in the Redraw FAQ for more details
You may be eligible for a cash loan between $2,050 and $10,000 if you meet the following criteria:
Applying is simple and will only take as little as 10 minutes to complete.
Once submitted, your application will be quickly assessed by our team*. If successful, we will typically reach out with an offer within the same business day.
Once the offer is accepted and contract is signed, you could have money in minutes.***
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Have your questions about the Cashes loan answered in our Cashies Loan FAQs.
Our friendly Personal Finance team is based in Australia.
They’re here to help with your loan application, assessment, and the management of your loan.
Give us a call on 132 274
Mon to Fri: 9:00am to 7:00pm AEST
Complete our online form and we'll get back to you shortly. Or, get in touch with your local store.
Send us an email and we'll get back to you as soon as we can.
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We’re committed to responsible lending. We’ll take a close look at the information and documents that you provide to make sure we help find the right cash solution for you and let you get on with your life.
*Same day approval - Subject to verification, suitability and affordability. Providing we have everything we need, we should be able to review and approve your loan within a day if the outcome is successful.
From October 2025 to January 2026, the average approval time was 9 business hours and our median approval time was approximately 3 business hours. This means most applicants receive an outcome reasonably quickly although it is not guaranteed.
**Redraws without reapplying are only available to customers with an active Cashies Loan.
*** Money in minutes – your funds will be disbursed to your bank account in minutes if your bank is connected to the fast payments system. By ‘fast payments system’ we mean National Payments Platform aka New Payments Platform aka NPP.
Subject to eligibility and lending criteria being met, personal circumstances being assessed and available credit.
See our TMD when deciding if this product is suitable for you.
We’re always here to help, if you need any further information, please give us a call on 13 22 74.
Our Cashies Loan does not have an establishment fee or any monthly fees. Interest is charged at a fixed rate of 48% per annum on the total outstanding balance. The maximum repayment term for each drawing against the loan is 36 months.
For example, a Cashies Loan of $4,000 repaid monthly over 3 years would require total repayments of $7,616 ($4,000 principal and $3,616 interest). This example has been calculated on a specified credit limit with the assumption that the loan has been drawn to the maximum amount of credit at the start of the loan and all repayments have been made on time. The calculation shown does not account for potential additional fees and charges, such as default or enforcement charges, which may be incurred.
Our Medium Personal Loans incur a $400 establishment fee and interest at 48% per annum. For example, a medium loan of $3,000 repaid by monthly payments over 1 year would equate to a total amount payable of $4,348 (including a $400 establishment fee). The minimum loan term is 4 months and a maximum of 24 months.
A dishonour fee of $33 is payable if a repayment is not made by the due date or a direct debit is declined.
Our loans are repayable in weekly, fortnightly or monthly instalments. Loans can be repaid early with no penalty and interest will only be charged on the outstanding balance of the loan. Early repayment will reduce the total interest payable on the loan. The Annual Percentage Rate (APR) on our Cashies Loan and our Medium Personal Loan is 48%. These calculations do not account for potential additional fees and charges, such as default charges, which may be incurred.
All loans are subject to lending criteria and suitability assessment.
Borrow up to $10,000 with no monthly or upfront fees.