Small Loans
Unlock big possibilities with our small cash loans – your ticket to a quick cash boost when you need it most.
Why choose Cash Train for a smaller loan?
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Small cash loans are a big help - with Cash Train
Are You Eligible
Application
Submit your application anywhere, any time. All you need to do is answer some simple questions.Get your loan offer
Get your conditional loan offer* which outlines the terms of your loan while you wait for final approval.Receive loan approval
What can I use my cash loan for?
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. Short-term loans often have lower monthly fees whereas longer loans have lower repayments and higher rates.
Frequently Asked Questions
How do small loans work?
Our small cash loans work similarly to other types of personal loans but are specifically designed to provide customers with smaller loan amounts - up to $2,000.
Some banks or lenders may have a minimum borrowing amount for their personal loans, which may be more than you actually need.
Our smaller cash loans allow you to borrow enough to cover last-minute bills or expenses. The borrower will then repay the loan amount, along with any fees, according to the terms outlined in the loan contract.
What's the difference between a small cash loan and a personal loan?
A small cash loan (also known as a SACC or payday loan) is for amounts between $200 and $2,000, usually repaid over 3 to 12 months.
A personal loan is for larger amounts - up to $8,000 - with longer repayment terms from 13 to 19 months in most cases. Personal loans may also involve a credit check, while amounts under $2,000 typically do not.
What is a small loan and how does it work?
A small loan is a short-term loan between $200 and $2,000. You repay it over 3 to 12 months in fixed instalments. It’s designed to help cover unexpected or urgent expenses when you need money fast.
How much can I borrow?
With a small cash loan from Cash Train, you could borrow* between $200 and $2,000. The amount depends on what you need plus what you can afford to repay based on your income and expenses.
Can I get a smaller loan if I have bad credit?
Yes, you may still be able to get a small loan with Cash Train even if you have bad credit. We understand that a poor credit history doesn’t always reflect your current financial situation. That’s why we look at your current income, expenses, and ability to repay the loan, rather than relying only on your credit score.
As long as the loan is affordable and suitable for your needs, you could be approved. If you’re specifically looking for finance designed for those with a less-than-perfect credit history, you can also learn more on our bad credit loan page.
Do I need a job to apply for a loan?
You don’t need to be employed full-time, but you must have a regular income*. This can include wages, self-employment or government benefits like Centrelink payments.
Also see our loans on Centrelink page, if you are receiving benefits.
How quickly can I get my loan approved?
Our online application is quick and easy. If approved, our fast cash loans can be transferred the same day, often within 30 minutes via NPP.
Branch customers may receive cash on the spot, when you visit your local branch.
Are there any hidden costs or early payout fees?
No, we’re upfront about all our loan costs.
If approved, you’ll pay a 20% establishment fee and a 4% monthly fee. There are no early repayment penalties, so you can pay it off sooner and save on fees.
What can I use my loan for?
A small personal loan could be used for a range of everyday needs - like car expenses, medical or dental costs, travel, vet visits or some other emergency expense.
Are the loan repayments different from payday loans?
Yes, repayments for our small personal loans with Cash Train are different from those offered by many traditional payday lenders. Unlike payday advances that often require full repayment on your next payday or within one month, our small loans are repaid over a longer period, making the repayments more manageable.
With a Cash Train small loan, you could borrow from $200 to $2,000 and repay it over 3 to 12 months (depending on the amount borrowed). Repay with fixed instalments that align with your pay cycle. This longer term helps spread out the cost and reduce the strain on your budget.
How do I repay my loan?
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 missing them.
We encourage our customers to view our loan costs to help determine your repayments and overall cost. If you think you may run into difficulty with an upcoming repayment, get in touch with our friendly team.
Can I make weekly loan repayments?
Yes, you could. At Cash Train, your loan repayments are set up to match your pay frequency, whether that’s weekly, fortnightly, or monthly. This ensures your repayments fit comfortably into your budget.
For loans up to $2,000, repayment terms typically range from 3 to 12 months, and for larger personal loans, the term is based on the amount you borrow and your affordability.
Making repayments on the same schedule as your income can make it easier to stay on top of your loan.
There are no penalties for early repayments, so you’re free to pay off your loan sooner if you wish.
