In-store and Online Cash Loans on Centrelink payments
Just because you're receiving Centrelink payments doesn't mean you can't get a loan.
If you’re receiving Centrelink payments, you may still qualify for a Cash Converters loan. We know that life doesn’t always go to plan, so if your total repayments of any existing Small Cash Loans loans aren’t more than 20% of your Centrelink income, then you can apply for up to $2,000 in-store or online for anything from a car repair to an unexpected vet bill.
For example, if you receive more than $600 fortnightly, then you are eligible to apply for a Small Personal Loan with a default repayment period of 9 months (although flexible loan terms may be available).
Learn more about all our loan options, including our Small Cash Loans, Cash Advance or Pawnbroking loans.
Our Cash Loan options for people on Centrelink repayments
Small Loan
Apply in-store or online for up to
$2,000 over a 2 to 12 month
term.
Cash Advance
Apply in-store for up to $2,000 cash in your pocket. A simple application process and manageable repayments over 4 to 12 weeks.
Pawnbroking
Simply bring an item of value to leave
with us as collateral for a secured,
short-term loan.
Personal Loan options
| Small Loan | Cash Advance | ||
|---|---|---|---|
| Loan Amount | $400 - $2,000 | $50 - $2,000 | |
| Loan Term | 2 - 12 months | 4 - 12 weeks | |
| How do I apply? | Apply online or in-store | Apply in-store only | |
| Method of Payment | Funds transferred to your bank within 24-48 hours of approval | Cash on the spot in-store | |
| Fees | 20% establishment fee and 4% flat monthly fee | 20% establishment fee and 4% flat monthly fee | |
| Apply Now | Find a store | ||
Please see our Target Market Determination for more details.
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Do I have to be an Australian resident?
To apply for a Personal Loan, you'll need to be an Australian resident.
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Is there a credit check?
We do credit checks for Personal Loan applications only, this will leave a general finance inquiry on your credit file. However, as long as your current financial situation is stable, we will consider your loan application.
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Can I apply if I have a bad credit history?
Yes, you are still eligible to apply. Credit history only forms one part of the applications process and other information, such as employment and expenses, is also considered as part of the assessment.
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Do I get instant approval for a Personal Loan?
Though we don’t offer instant approval, we’ll only need to see your documentation once your application is accepted. The sooner we have all the documentation we need to determine if a loan is suitable, the quicker you will have a result. Depending on who you bank with, the loan funds may be in your account within 20 minutes of approval.
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How long before I get the money?
It depends on who you bank with. Assuming we have all the supporting documentation we need to assess your loan suitability, the funds could be in your bank account within 20 minutes after receiving approval for Personal Loans, depending on your bank.
Fee Disclosures
Our Cash Advance Loans incur a 20% Establishment Fee and a 4% monthly fee, based on the amount borrowed. For example, a small loan of $100 over 4 weeks has fees and charges totalling $24 (1 x $20 + 1 x $4), resulting in a total repayment of $124. Cash Advance Loans are only available in-store with a minimum loan term of 4 weeks. The maximum term is generally 6 weeks, however is flexible at the discretion of the store.
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 48% per annum. For example, a medium loan of $3,000 borrowed over 1 year would equate to a total amount payable on average of $4,258 (including a $400 establishment fee). The minimum loan term is 4 months and a maximum of 24 months.
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. An APR (Annual Percentage Rate) does not apply to our Cash Advance Loans or Small Personal Loans. The maximum APR on our Medium Personal Loan is 144.02%.
