Cash Advance Loans
Our Cash Advance loans make it possible for you to apply in-store and once approved, walk out with cash on the spot. A Cash Advance is a small loan between $50 and $2,000 that’s paid back over a short amount of time – usually a 4 to 6 week period.
We only offer Cash Advance loans in-store, so you’ll need to pop by your local Cash Converters or call our friendly personal finance team to find out what we can make possible for you.
Explore all our online personal loans and in-store options, including pawnbroking loans, a small personal loan or medium personal loan.
Cash Advance Product Features
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Loan amountOur Cash Advance loans range from $50 - $2,000 |
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Flexible loan termYou can pay a Cash Advance loan back in 4 - 12 weeks |
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Easy applicationYou can apply for a Cash Advance loan in-store only. Applications are assessed in-store by our friendly staff |
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Funds disbursementOnce approved for a Cash Advance, you'll receive the loan funds as cash on the spot |
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Loan fees20% establishment fee and 4% flat monthly fee |
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Manage your loanManaging your Cash Advance repayments is easy with our MyLoans app |
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Please see our Target Market Determination for more details.
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How our Cash Advance Loans work
1. Apply
Visit your nearest Cash Converters store and bring along supporting documentation and mention you are interested in an instant cash loan.2. Check and confirm
We’ll validate the information you’ve submitted to make sure we’re lending you the right amount and it meets your needs.3. Approval
If approved, you can receive instant cash on the spot.4. Repayments
You can pay us back with manageable repayments until the loan term ends. -
What we need from you to make a Cash Advance possible
- Access to the latest 90 days of your bank account transaction history for the account your income is deposited into (you don't need to print these out, you just need to login to your internet banking when applying online or in-store)
- Identification details (like a Drivers licence)
- A current Income Statement if you receive a Centrelink payment
For more information view our Frequently Asked Questions. -
How much can I borrow with a Cash Advance loan?
Our Cash Advance loans range from $50 to $2,000 and are typically repaid over a short period around 4 - 6 weeks (though flexible loan terms may be available upon assessment).
The exact amount you can borrow will depends on your needs, your income and the financial commitments you have.
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Who is eligible for an instant Cash Advance?
1. Resident status
Australian residents and Non-residents can apply for a Cash Advance.2. I’m over the age of 18
To be eligible to apply for a Cash Advance, you must be over the age of 18 years old.3. I’m not currently in bankruptcy or a Part 9 Debt Agreement
If you are currently in a Part 9 Debt Agreement or currently in bankruptcy we are unable to process your loan application. However, if you have previously been in a Part 9 Debt Agreement which has been successfully discharged, we will assess your application on your current situation.4. What if I'm receiving Centrelink payments?
If you are receiving Centrelink payments you could qualify for a Cash Converters loan, however your total repayments for all of your loans can't be more than 20% of your Centrelink income.5. I have taken out two small loans* in the last 90 days, can I still apply?
If you have had two or more small loans within a 90-day period, you may still be eligible to apply based on affordability and your individual financial circumstances.*A small loan is a loan up to the value of $2,000 with a repayment period of 16 days to 1 year.
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Does a Cash Advance affect your credit?
No, taking out a Cash Advance does not affect your credit ranking or credit score.
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What is a Cash Advance loan?
A Cash Advance loan is an instant cash loan paid back over 4-6 weeks.
Sometimes Cash Advances are referred to as ‘pay day’ loans as they tend to cover an expense that cannot wait until your next pay day.
Other ways we can help
Small Loan
Apply in-store or online for up
to $2,000 over a 2 to 12 month
term.
Sell to us
We pay instant cash for items of value that you no longer use like a guitar, computer, jewellery, smart phones, tool sets and more.
Pawnbroking
Simply bring an item of value to leave
with us as collateral for a secured, short-term loan.
Responsible Lending
We’re responsible lenders and we want to make sure our customers are at the heart of everything we do to help find the right cash solution to make life possible.
We'll take a close look at the information and documents you provide us - including details of why you need the cash loan and how much you need to borrow, plus things like 90 days of bank statements, any existing credit card debt, and a careful assessment of your living expenses.
We do all this to ensure your cash loan is suitable, and meets your specific needs to help you get on with your life.
If you have any questions about your application and how we assess, talk to one of our personal finance team members
*Deposit into bank account up to a maximum of $4,600, due to the establishment fee being financed on $5,000 loans.
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 maximum loan term is 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%.
