Personal Loans
Dream big with our personal loans. Secure up to $4,600 and turn your goals into triumphs, on your terms.
Why choose Cash Train for a personal loan?
Quick application
Borrow the money you need without the wait. Our application process takes minutes and can be completed online or at one of our branches.
Trusted lender
Count on Cash Train's unwavering support throughout your financial journey. Our track record speaks for itself.
Stress-free process
Skip the hassle with Cash Train. Enjoy fast loan approvals and spend less time worrying and more time living.
Eligibility
As a responsible lending specialist, our priority is ensuring your personal loan is affordable and suitable for your specific 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.
Our personal loan application process
Applying for a personal Loan with Cash Train is as simple as 4 easy steps.
Apply online in minutes
You can apply online anywhere, at any time. All you have to do is answer some simple questions and provide 90 days of bank transactions.Pre-qualification
Once you're conditionally approved, you'll receive a loan offer* which outlines the terms of your personal loan while you wait for final approval.Loan approval
Our team is dedicated to balancing speed with responsible lending. We’ll assess your application and let you know as soon as your loan is approved.*Receive your money
Once your personal loan is approved, your money will be digitally transferred to your bank account in 30 minutes via NPP instant transfers.**What can I use a personal loan for?
Debt consolidation
Merge multiple high-interest debts into a single loan to simplify payments and cut costs.
Medical bills
From accidents and injuries to regular appointments, cover costs and put your health first.
Definition & 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 your loan is approved.
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. Short-term loans often have lower monthly fees whereas longer loans have lower repayments and higher 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
What is a personal loan?
A personal loan is a form of credit where you borrow a specific amount of money to pay for something you need cash for and then repay the debt back with fees in equal repayments over an agreed fixed term.
What's the difference between a personal loan and a fast cash loan?
Our personal loans at Cash Train are for borrowing amounts from $2,001 up to $4,600 whereas our fast cash loans are for amounts ranging from $200 to $2,000.
How is a personal loan calculated?
At Cash Train, our personal loans up to $4,600 incur a $400 establishment fee and interest at an annual cost rate of 45%.
What is a personal loan interest rate?
A personal loan interest rate is a rate of interest that is charged to the borrower, usually an annual percentage of the loan outstanding.
What's the difference between a fixed rate and a variable interest rate?
A fixed interest rate remains the same throughout the loan term, whereas a variable interest rate can fluctuate over time based on changes in market conditions or benchmark rates. For this reason, variable rates may offer a lower interest rate initially but can make it more difficult to predict your monthly repayments.
How do secured loans and unsecured personal loans work?
A secured loan requires collateral, such as a home or a car, which the lender can seize if the borrower defaults. On the other hand, an unsecured personal loan doesn't require collateral but relies solely on the borrower's creditworthiness.
An unsecured personal loan is often preferred because it doesn't put assets at risk and provides more flexibility and peace of mind for borrowers. An unsecured loan will also typically involve a quicker application process, making it a more accessible option for those seeking immediate financial assistance.
Can I get a personal loan if I am self-employed?
Yes, all we need is proof of ID, proof of income and bank transaction history.
Do I need a good credit score to apply for a personal loan?
Not necessarily, at Cash Train we strive to assess every applicant's suitability for a personal loan on a case-by-case basis rather than by their credit situation alone. While not every applicant will be eligible for a personal loan, our team takes every measure to assess loan applications based on their overall financial position and individual circumstances.
How do I pay off my loan?
Check out our personal loans costs to make sure you understand what you will have to repay. Your loan repayments will be set up automatically via direct debit with the funds digitally transferred to us from your bank account on the agreed repayment dates.
If you think you may run into difficulty with your loan repayments, contact our friendly team. It may be possible to reschedule your repayments.