Bad Credit Loans
We believe in fresh starts. Our bad credit loans could help you get a loan despite a poor credit history.
Why choose Cash Train for bad credit loans
Easy application
Breathe a sigh of relief knowing you can apply for a loan in minutes.
Fast approval
We value people’s time. Expect a fast decision regarding your loan application.
Trusted lender
Cash Train has been one of Australia’s leading lenders for years. Find your nearest branch.
Eligibility
As a responsible lender, the most important thing is that the loan is affordable and suitable for your needs.
To qualify, you must:
Existing customers can benefit from a faster borrowing process. As your trust rating improves, you may borrow more money with any subsequent loan - as long as you meet loan payments, the loan meets your requirements and objectives and repay your loan in full, on time and can afford the higher amount.
How do I apply for a loan with Cash Train?
Applying for a bad credit loan with Cash Train is as simple as 4 easy steps.
Your application
You can apply online at any time. All you have to do is answer some simple questions. It takes just minutes.Loan offer
Cash Train can give you a fast conditional loan offer* which outlines your terms while you wait for your loan approval.Loan approval
Cash Train will assess your loan application to give you a fast decision. The assessment will depend on each unique circumstance as we balance speed with responsible lending.Get your money
As soon as we have completed our assessment and approved your loan offer, get your money in 30 minutes via NPP instant transfers.**What can I use a bad credit loan for?
Paying one-off costs
Need a boost to get things back on track? We're in your corner.
Car loans
Get back behind the wheel with funding at your fingertips.
Moving costs
Start your next chapter sooner with moving costs covered.
Emergency expenses
Life can be unpredictable. Get the money you need when you need it.
Rental bond deposits
Don’t miss out – make your dream home a reality with fast finance.
Definition & Features
Application fee
A fee that is charged when you apply for a loan and your loan is approved.
Extra repayments
Extra repayments are made after the establishment of the loan and could help reduce fees and repayment term.
Loan use
The conditions for use of loan. Our loans can not be used for general living expenses such as rental payments or grocery costs.
Loan term
The length of the loan. Generally, shorter loan terms have lower fee rates; longer loan terms mean lower repayments and higher fee rates.
Rates, fees, and limits
Why our customers love us
Learn why we're one of Australia's trusted lenders.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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Frequently Asked Questions
Can I get a $5,000 loan with bad credit?
Yes, it’s possible that you could get a personal loan for this amount. Each application is assessed on a case-by-case basis, and Cash Train prioritises your current circumstances – making sure that the loan is affordable, easy to repay and meets your needs.
How can I get a quick loan with bad credit?
Cash Train has a quick and easy online application process that asks a series of questions to determine your suitability for borrowing money via a bad credit cash loan.
Are there any guaranteed cash loans for bad credit?
While Cash Train makes every effort to offer loans to customers with a bad credit history, not every applicant will be eligible for a loan. However, applications are considered on a case-by-case basis, as we know that people’s current circumstances are not always indicative of past credit incidents.
What is considered a bad credit history?
Your credit score will typically range from 0 to 1000, with lower scores reflecting a bad credit rating. Most credit agencies consider a score under 500 to be "below average", whereas a number over 500 is generally considered a good credit score.
How do I check my credit history?
There are several online credit providers that can offer you a free credit check. You’ll usually need to verify your identity and provide some personal information before they assess your credit history and generate your credit score.
What's unique about Cash Train's bad credit loans?
We're committed to giving people a go, even if they have been refused by mainstream lenders previously. While big banks and other lenders may reject applicants based on their credit history alone, our team will assess your loan application based on your overall financial position and whether you have enough money to meet your repayment schedule comfortably.
How do I pay off my loan?
Check out our bad credit loans costs to make sure you understand what you will have to repay. Repaying your bad credit loans is done automatically in the background on the agreed repayment dates. The funds will be digitally transferred to us from your account by its direct debit facility.
If you think you may run into difficulty and are unable to make the repayment, give us a call. It may be possible to reschedule your repayment. See loan costs for further details.