Affordable Loans for Age Pensioners
Small Cash Loans from $200 to $2,000 paid within 60 minutes
.svg)
Small Cash Loans from $200 to $2,000 paid within 60 minutes
Can I qualify for a loan if I am earning most of my income from the Centrelink Age Pension? Yes, this Cash Direct loan is for people currently receiving an Age Pension from Centrelink, and must also demonstrate a responsible budget, with any other small loan payments less than 10% of their gross income.
Click here to learn about how Centrelink works.
This pension provides payments and services for older Australians who have retired, are planning retirement or are considering working past the Age Pension age which is 67.
Right now, the total for a single is $1,064 per fortnight and for a couple is $1,604 combined. This includes the maximum basic rate, pension supplement and energy supplement.
To learn about how much income you can get as an Age Pensioner, click here how much age pension you can get
You may be eligible for an age pension if:
You are Age Pension age
Under the income and asset test limits
An Australian resident, normally for at least 10 years.
You can access more information about the Age pension here who can get age pension
Our Age Pensioner eligible loan allows customers to borrow between $200 and $3,000 over a 1 to 12 month period. They suit those who don’t need to borrow a lot and prefer flexibility to pay their loan down within 6-12 months. They are designed to get you out of a tough spot if needed for example; if you have an unexpected bill, car repair or even if you want to go on a holiday. Before you apply for a Cash Direct Small Age Pensioner Eligible loan you should check whether you are eligible for either a Centrelink Advance Payment or the Centrelink Home Equity Access Scheme
Yes, this Cash Direct loan is specifically for people currently receiving an Age Pension from Centrelink. You must also demonstrate a "responsible budget" with any other small loan payments less than 10% of your gross income.
Small Cash Loans from Cash Direct, which include Age Pensioner eligible loans, can be "paid within 60 minutes" once approved.
For Small Loans ($2,000 or less), which covers Age Pensioner loans, there is a 20% establishment fee of the amount borrowed and a 4% monthly fee of the amount borrowed. Terms for these loans are up to 3-12 months.
No, Cash Direct is "not affiliated with, or endorsed, by Services Australia". However, they do provide Cash Loans, Personal Loans, and Vehicle loans for people receiving Centrelink Benefits, including Age Pensioners.
Age Pensioner eligible loans can be repaid over a "1 to 12 month period". Specifically, terms for Small Loans are "up to 3-12 months".
Cash Direct's Age Pensioner eligible loan allows customers to borrow between $200 and $3,000. Small Cash Loans, which are applicable here, are available from $200 to $2,000.
You may be eligible if you are "Age Pension age", fall "Under the income and asset test limits", and are an "Australian resident, normally for at least 10 years". Additionally, you need to demonstrate a "responsible budget".
Yes, you can "repay your loan any time without being charged additional fees". Doing so will "reduce your interest and fee cost overall".
These loans are designed to help you get out of a tough spot if needed, such as for an "unexpected bill, car repair or even if you want to go on a holiday".
According to the source, the total Age Pension for a single person is $1,064 per fortnight and for a couple is $1,604 combined. This includes the maximum basic rate, pension supplement, and energy supplement.
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
%201.svg)
%201.png)