A short term loan is a form of credit in which you borrow a specific amount of money to pay for something you need urgent money for like covering unexpected bills or overcoming temporary cash problems.

How do short term loans work?

Short term loans are designed to provide borrowers with quick access to a smaller amount of money for a short period, typically weeks or months.

These loans often have a faster approval process and can be an option for those who have immediate financial needs like unexpected expenses or emergencies. Borrowers repay the loan amount, plus fees, usually in instalments over an agreed fixed term.

What is a short term loan market?

A short term loan market can be defined as a contract between a borrower and a lender whereby the lender provides a loan to the borrower with a specified amount, for a loan term of less than 12 months.

How long are short term loans?

With our short term loans, you can borrow up to $2,000 with a maximum loan term of 12 months. With our personal loans, you could borrow a higher amount at up to $8,000 with a maximum loan term of 20 months.

How is a short term loan calculated?

At Cash Train, our short term loans up to $2,000 incur a 20% establishment fee and 4% monthly fee, based on the amount borrowed. For example, a loan of $1,000 over 12 months has fees and charges totalling $680 (1 x $200 + 12 x $40), resulting in a total repayment of $1,680.

Can I get a short term loan if I have a bad credit history?

While we make every effort to offer loans to customers with a bad credit history, not every applicant will be eligible for a short term loan. Each loan application is assessed on a case-by-case basis, as we know that people’s current circumstances are not always indicative of their credit rating.

How do I pay off my short term loan?

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.

Check out our short term loans costs to make sure you understand what you will have to repay. If you think you may run into difficulty with your loan repayments, contact our friendly team as it may be possible to reschedule your repayments.

Easy application

Your application will take only a few minutes and can be done online, or if you prefer a face-to-face experience, come visit us at any one of our branches.

Trusted lender

For over a decade, Cash Train has helped thousands of Australians quickly secure a short term loan when they need cash fast.

Fast approval process

We value our customer's time. That's why we've streamlined our entire process to help you borrow money hassle-free.

As a responsible lender, our priority is ensuring your short-term loan is affordable and suitable for your specific needs.

To meet our lending criteria, you must:

Receive a regular income

Be an Australian resident

Be at least 18 years old or over

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 team is dedicated to balancing efficiency with a fair loan decision and we’ll let you know as soon as your loan is approved.*

Get your money

Once your short term loan is approved, your money will be digitally transferred to your bank account in 30 minutes via NPP instant transfers.**

Managing bills

Lighten the load of living expenses, debt obligations and other financial commitments.

Unexpected expenses

From injuries to broken appliances, cover costs in a crisis with a quick cash boost.

Travel costs

Get where you need to go with loan options for flights, accommodation and more.

Loss of income

Borrowing money could be the lifeline you need to get back on your feet.

Car repairs

Get back behind the wheel faster with credit solutions for mechanic visits and car fixes.

Vet bills

Put your pet’s health first with financing for urgent appointments and medical treatment.

Home upgrades

Fix home headaches with extra cash to keep your household running as it should.

Establishment fee:

20%

Monthly fee:

Early repayment fee:

Limits

Minimum loan amount:

$200

Maximum loan amount:

$2,000

Minimum loan term:

10 weeks or 3 months, depending on your payment frequency

Maximum loan term:

12 months

Ready to get started?

Discover our quick cash loans online or in-store today.

Example loan costs

Borrow

Costs

Repay

$500

$160

$660

$1,000

$320

$1,320

$1,500

$480

$1,980

$2,000

$640

$2,640

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.