We have Personal Loans for all situations and all types of people, even if your credit history isn't perfect. If you're short on cash for bills, a school trip for the kids or an unexpected car repair comes up, a Personal Loan can help you get on with life.
Our Personal Loans can be applied for at your local store or you can apply online. We offer variable loan amounts and terms which you can choose from, this means you can request your loan the way you want it so that it fits in with your plans.
A Cash Converters Personal Loan:
is available from $500 - $5,000 repaid over 3 - 24 months
may involve a credit a check, but you do not need perfect credit history
on approval, you will have your money in your account within 24 hours on business days or within a few minutes 7 days a week if you are a CashPass holder
Find out what the requirements are for a Personal Loan
There are many different loans out there for a variety of different situations and it is important that you find the loan that suits your needs. Just as important as finding a suitable loan, we believe at Cash Converters that you also need to find a loan that is affordable, simple to apply for and fast.
What is a Personal Loan?
Just as the name suggests, a Personal Loan is money you borrow from a lender for personal use and then repay, after an agreed term, through regular payments with interest on top.
As the borrower, you get the ability to use the money without the need to save the funds first and you can use the money to pay for your unexpected cost.
At Cash Converters, we practice responsible lending. There is no security required but to ensure your Personal Loan is affordable and fit for purpose, we may perform a credit check and we will only lend you money for the purpose you took out the Personal Loan for.
How much can I borrow and for how long?
Cash Converters gives you the freedom to design your own Personal Loan. You can choose an amount between $500 and $5,000 for a term between 3 months and 24 months.
However, we practice responsible lending and will only lend you what you can afford to repay.
Personal Loans can be settled early for a $30 prepayment fee and interest will only be charged while there is an outstanding balance on the loan, therefore early settlement will reduce the total amount payable on the loan.
How do I apply for a Personal Loan?
Your local Cash Converters team are happy to help you apply in-store or you can choose to apply online.
You need to provide proof of ID, proof of address and your email and phone contact details. You will also need to login into your internet banking to show us your income and expenses.
How long does it take?
Our team will be working hard to provide an outcome for you as quickly as we can and usually within 24 hours.
It will take less than 10 minutes of your time to apply. If we need any more information regarding your application our friendly loans team will contact you.
Borrowing money can seem complicated. There are fees and interest to consider, how you are going to repay your loan and if security is needed. At Cash Converters, we offer unsecured loans to help you get on with life.
What is an unsecured loan?
An unsecured loan does not require the borrower to provide any property, collateral or security for a loan. If a borrower defaults or is unable to repay their loan, the lender has no legal right to take possession of any assets or property owned by the borrower to recover the costs of the lost loan.
With a secured loan, a borrower must provide property, collateral or security against their loan. If a borrower defaults or is unable to repay their loan, the lender has the legal right to take possession of any secured assets and property from the borrower.
This means that an unsecured loan has a higher risk for the lender. At Cash Converters, our Personal Loans are unsecured. We work on mutual trust and understanding with our customers to ensure they get the cash solution they need and can repay.
Why unsecured loans?
We understand that unexpected costs can take anyone by surprise and leave you short on cash. It happens to everyone and sometimes a quick cash solution is all you need to help you get on with life.
We do not want to make an already unpleasant situation more difficult by requiring you to provide security for the odd occasion that you need a loan, and we work on mutual trust and understanding with our customers. We are here to help you and you understand that – it's a win-win!
Bad Credit Loans
If you have bad credit history, it can sometimes be hard to get a loan. Most banks will not lend to you and some short-term lenders will not deal with you. However, when you need cash, Cash Converters is here to help. We look at your application on its merits and look beyond just your credit history to try to help find a cash solution that suits you.
What is bad credit?
Bad credit is a result of various reasons ranging anywhere from not paying car finance and credit card bills on time to unpaid taxes and declaring bankruptcy, but the main reason is usually failing to keep up with payments on previous loans.
Bad credit shows an inability to manage borrowing and repayments, which can make it difficult to borrow money especially with mainstream lenders such as banks. It can also put you at a disadvantage with the amount you can borrow and the possibility of higher interest rates if you are approved for a loan.
What is a bad credit loan?
A bad credit loan is a loan suitable for people with bad credit. At times, it can be a financial lifeline for people who otherwise would not be able to get a cash loan for an unexpected cost.
The biggest advantage of a bad credit loan is that people with bad credit can actually borrow money. Having a loan can help repair credit rating and this provides a second chance, as long as payments are made on time and an ability to manage money responsibly is shown.
At Cash Converters, we are here to help people get on with their lives. Our Personal Loans may be suitable for people with bad credit. Although we may perform a credit check, we may still be able to help even if you do not have a perfect credit history.