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Small Cash Loans from $200 to $2,000 paid within 60 minutes
Small Cash Loans from $200 to $2,000 paid within 60 minutes
Should I get a Centrelink Advance Payment instead of a loan? Yes. If you don’t already have an Advance Payment from Centrelink, and qualify, this is a superior option as it is a nil cost loan. If you use a lender such as Cash Direct, you will have loan costs such as loan fees or interest expense. So the Advance Payment from Centrelink is a useful personal budget tool to use if you qualify.
If you already have an Advance Payment from Centrelink or need some extra funds, a small loan from Cash Direct can be helpful if your budget can support the extra loan. If you earn > 50% of your income from Centrelink benefits, we will ensure your total loan payments do not exceed 10% of your income.
To apply for a Cash Direct loan, click here.
You should already have a Centrelink online account linked to your myGov. From here, it’s a pretty simple process:
Sign into your myGov account online
Select Payments and Claims
Select Manage Advance Payments, from the Manage Payments option
Select Apply for an Advance Payment
If you are eligible, you can then select Get Started and follow the prompts
Click here Advance Payment Demonstration Video for an Explanation Video on the full process, produced by Services Australia.
If you do still need extra funds, and require a small cash loan, you can apply for a Cash Direct loan, by clicking here.
For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn’t apply. These are fee-based only, and so they don’t have an APR. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed.
For example, a loan of $1,000 repaid over 4 months equates to a total payable of $1,360. This is comprised of $1,000
principal (the amount borrowed), $200 establishment fee, and a total of $160 in monthly fees.
For our Medium Loans between $2,001 and $5,000. The base interest rate may vary depending on the loan product. The maximum rate we use is 48% and an Establishment Fee of $400.
Terms for our Small Loans are up to 3-12 months, and for our Medium loans, it is 3-24 months. With each, you can
repay your loan any time without being charged additional fees, and it will reduce your interest and fee cost overall.
Cash Direct Pty Ltd (ACN: 129 259 605; Australian Credit Licence 393862) is a specialist in providing cash loans to its customers when they need it
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