Loan Costs
Straightforward fees for smarter borrowing.
Clear costs, no surprises
At Cash Train, we believe in transparency.
It’s important to us that our customers get a complete understanding of the total cost of their loan ahead of time. Our straightforward fee and charging structure ensures there are no hidden surprises.
From the moment you apply, you'll know exactly what to expect, giving you peace of mind and confidence in managing your finances.
Understanding your loan type
We offer two types of loan products; Cash Loans and Personal Loans.
- Cash loans up to $2,000 - There is a 20% loan establishment fee, plus a 4% monthly fee. The minimum loan term is 10 weeks or 3 months, depending on your payment frequency. The maximum loan term is 12 months.
- Personal Loans up to $4,600 - There is a $400 establishment fee and interest at an Annual Cost Rate of 45%. The maximum loan term is 15 months for our personal loans.
Calculate your repayments
Wondering how much you could afford to borrow?
Use the table below to find out what your weekly, fortnightly or monthly repayments could be.
Example loan costs
EXAMPLE: Our Cash 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 3 months has fees and charges totalling $320 (1 x $200 + 3 x $40), resulting in a total repayment of $1,320. The minimum loan term is 2 months and a maximum of 12 months. An APR (Annual Percentage Rate) does not apply to Cash Loans.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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Definitions & Features
Comparison rate
The overall cost of a loan based on several factors including interest rate and fees.
Interest rate
A rate of interest charged to the borrower, usually an annual percentage of the loan outstanding.
Application fee
A fee that is charged when you apply for a loan and it is approved.
Loan use
The conditions for use of loan. Our cash loans can not be used for general living expenses such as rental payments or grocery costs.
Loan term
The length of the loan. Short-term loans often have lower monthly fees whereas longer loans have lower repayments and higher rates.
Rates, fees and limits
Frequently Asked Questions
What's the difference between a cash loan and a personal loan?
A Personal Loan is often used to help pay for larger purchases like a holiday, while a Cash Loan is typically a small cash boost used to cover urgent expenses.
At Cash Train, our Personal Loans are for borrowing amounts from $2,001 up to $4,600, whereas our Cash Loans are for amounts ranging from $200 to $2,000*.
Can I get a $10,000 loan with bad credit?
No, Cash Train only offers loan amounts up to $4,600. However, depending on your individual circumstances, you may be able to secure a smaller loan even if you have bad credit.
Can I make weekly loan repayments?
Yes, Cash Train's flexible repayment plans are designed to align with the payment frequency of your regular income and can be set up weekly, fortnightly, or monthly.
How do my loan repayments work?
Direct debit transactions will automatically transfer your loan repayments from your bank account on the agreed repayment dates, so you don’t have to worry about incurring additional fees for late or missed payments. If you think you may have difficulty with your payment plan, contact our friendly team.
Can I repay my loan early?
Yes, early repayment fees are not charged if you finalise your payments before the previously agreed-upon date. For more information, speak to your Cash Train customer service representative.
Can I get a larger loan if I am an existing customer?
As your trust rating improves, you may be able to borrow more money with another loan as long as you can meet your repayments and afford the higher amount.