Easy Cash Loans are instantly accessible through an online application process that takes only a few minutes to complete. Usually, the lenders providing easy cash loans have a fast approval process, taking less than one business days to process, approve, and disburse the loan amount.
There are two main types of easy cash loans available in Australia, including payday loans and small loans. Loans falling under these two categories are given out for a short term duration, and typically carry a high interest rate. While payday loans are usually capped at $2,000, you can get a small loan as high as $5,000.
To be eligible for a easy cash loan, borrowers must:
Be at least 18 years old and hold a valid Australian ID, such as a driver’s license. Be a permanent resident or citizen of Australia. Have sufficient income that proves affordability for the loan amount. Be employed, with an income that makes up over 50% of the total income earned in any given period.While lenders might conduct a credit check with each easy cash loan application, your credit score is unlikely to have an impact on the loan decision. Hence, applicants with a bad credit history can also apply for an easy cash loan.
|
Lender And Loan Type |
Max Loan Amount |
Loan Term |
Turnaround Time |
Expected Fortnightly Payment (on a loan amount of $1,500) |
|
Sunshine Loans (Short-Term Loan) |
$2,000 |
Between nine to fourteen weeks |
Around 30 minutes, provided conditions are met |
$396 |
|
Nimble (Short-Term Loan) |
$2,000 |
Between 62 days to nine months |
Around one hour, provided conditions are met |
$372 |
|
Safe Financial (Small Loan) |
$5,000 |
Between 22 to 52 weeks |
Same day, provided conditions are met |
$396 |
Yes, there are a few cheaper alternatives you may want to explore, such as a bank overdraft facility, cash advance on your credit card, or taking out a personal loan. However, all of these options require you to have a good credit score, a good relationship with the bank, and probably a higher income to prove sufficient affordability.
$2,000-$5,000, depending on the loan type.
The application should not take more than five to fifteen minutes.
Check your options before you borrow:
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.