We’ve reviewed our product offerings to ensure that they continue to meet your needs and provide a better experience. As a result, we made the decision to retire our Small Loan product.
New applications are no longer being accepted. If you need support, please visit your local Cash Converters store to see how we can help.
We are simplifying our product offering and no longer offer Small Amount Credit Contract (SACC) products. The Cashies Loan, launching 1 October, is a lower cost, more flexible loan with no upfront, monthly, or early repayment fees.
There are no changes to your existing loan. Your existing loan arrangements will continue as they are.
While we will no longer offer a personal loan product for loans under $2,050, we still want to support you. Please speak to one of our staff members at your local Cash Converters store to see how we can help.
See our existing customer FAQs to find out more information.
You can apply to access up to $10,000 and request a redraw from an approved credit limit.
We pay cash on the spot for items of value that you no longer use like a guitar, computer, jewellery, smart phones, tool sets and more.
Simply bring an item of value to leave with us as collateral for a secured, short-term loan.
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 minimum term is 4 weeks and a maximum of 20 weeks.
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 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.
Our Line of Credit product does not incur an establishment fee and interest is at 48% per annum. For example, a line of credit of $4,000 repaid by monthly payments over 3 years would equate to a total amount payable of $7,616. The maximum repayment term is 36 months. This example has been calculated on a specified credit limit with the assumption that the debtor has drawn down the maximum amount of credit as agreed to under a contract.
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% and the maximum APR on our Line of Credit is 48%. These calculations do not account for potential additional fees and charges, such as default charges, which may be incurred.
