Small Loans
Unlock big possibilities with our small loans – your ticket to a quick cash boost when you need it most.
Why choose Cash Train for a small loan?
No hidden costs
Feel confident knowing you're getting the best deal possible with transparent fees and charges.
Quick & easy process
We value our customer's time. Apply in minutes and enjoy a streamlined approval process.
Reputable online lender
For over 20 years, Cash Train has provided Australians from all walks of life with quick cash loans.
Eligibility
At Cash Train, we're committed to responsible lending and ensuring our loans are affordable and suitable for our customers.
To be eligible, 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.
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
Our team will gather and review all your information and give you an answer as quickly as possible.*Get your money
Once approved, get your quick cash loan transferred directly to your bank account within 30 minutes via NPP instant transfers.**What can I use a small loan for?
Special occasions
From anniversary gifts to Christmas decorations, make the most of milestone moments.
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.
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
How do small loans work?
Small loans work similarly to other types of personal loans but are specifically designed to provide customers with smaller loan amounts. Some banks or lenders may have a minimum borrowing amount for their personal loans, which may be more than you actually need.
Our small cash loans allow you to borrow a smaller amount 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?
At Cash Train, our Personal Loans are for borrowing amounts from $2,001 up to $4,600 whereas our small Cash Loans are for amounts ranging from $200 to $2,000.
How long does it take to get approval on a small loan?
We understand our customers often require money urgently and so we take every measure to balance speed with responsible lending. While most applicants receive their loan on the same day they apply, due to some bank’s processing times, you may need to allow 1-2 working days for the funds to become available where NPP is not available.
Can I get a small loan if I have a bad credit history?
Customers with a bad credit history may be able to get a small loan if they meet our eligibility criteria and can comfortably afford their repayments. Applications are assessed on a case-by-case basis and approval will largely depend on your current financial circumstances rather than previous credit incidents.
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, Cash Train's flexible repayments are designed to align with your pay frequency and can be set up over 10 weeks or 3 months. This means if you are paid weekly, you will have 10 weekly payments, if you are paid fortnightly, you will have 5 fortnightly payments, and if you are paid monthly, you will have 3 monthly payments.
How are repayments different for small loans and payday loans?
Payday lenders typically require full payment on your next payday or within 1 month. At Cash Train, our small loans are spread out over a longer period, making your scheduled repayments smaller, more affordable and easier to manage.