Cash Today

What do you need to qualify for a Cash Today quick loan?

Have photo ID, proof of your Australian address, a phone number and an email address ready. A driver licence and a recent utility bill are examples Cash Today accepts. The lender uses your bank transactions to check income, spending, existing debts and whether there is enough left for repayments. It may request payslips or a Centrelink income statement.

Cash Today’s eligibility checker rules out current bankruptcy and Part IX debt agreements. Its FAQs also list a personal loan opened in the past 90 days, two or more existing payday loans under $2,000, and recent bank activity showing dishonoured debits, arrears, debt collection payments, online gambling or wage advances as reasons for declining an application.

When is a Cash Today small loan worth considering?

A one-off car repair may justify comparing quick loans if you need the car for work and can cover the repayments from your ordinary pay. If you have a repair quote, check whether a No Interest Loan can pay the mechanic directly. Eligible borrowers can finance essential car repairs without interest or fees.

If the expense is an overdue bill, ask the biller what it would cost to spread payments over the same period. If rent or groceries already use up each pay, a loan adds another debit to the next one. For a one-off shortfall, compare other quick loan options using the same amount and repayment period.

How Cash Today matches and funds quick loans

From eligibility check to written offer

Start with Cash Today’s online eligibility checker, enter the amount and purpose, and authorise bank statement verification. Cash Today uses those details to select a panel lender likely to approve the request. Its consent terms explain how identity and credit information may be checked or disclosed. Before proceeding, identify the lender on the offer and check what credit enquiry you are authorising.

How soon could the money arrive?

Cash Today advertises a match in under 60 seconds. The lender still has to assess the application, and you must accept the contract. Cash Today says some approved loans below $2,000 can reach the borrower’s bank within an hour of approval. Verification, banking hours and the receiving bank can push payment into the next day.

What should you ask before signing?

• Who is the lender named on the contract, and who do I contact if a debit will leave me short?
• How much will reach my account, when is the first debit, and how many monthly fees are included in the total?
• What would I owe if I paid out the loan one month early? What would a missed debit cost under this contract?
• Does the quote include insurance or another optional service? If so, what does it cost, what does it exclude and can I decline it?

Cash Today quick loan advantages and drawbacks

Advantages. One form can reach a suitable panel lender without filling out separate applications. The small loan is unsecured, so you do not need to pledge your car or another asset. The published fees also make it possible to estimate the cost before sharing bank statements.

Drawbacks. A match does not establish which lender is cheapest. The advertised minimum and term vary between Cash Today’s pages, and the monthly fee is based on the original amount even as the balance falls. A longer term can therefore reduce each repayment while materially increasing the total.

Cash Today small-loan fees and total repayment

At Cash Today’s published fees, each $1,000 borrowed carries a $200 establishment fee plus $40 for each month charged. The 4% figure is a monthly fee on the original principal. Using it as an annual interest rate in a loan calculator would understate the cost.

What does a $2,000 quick loan cost?

Cash Today’s official example uses $2,000 over 12 months. A $400 establishment fee plus twelve $80 monthly fees gives $1,360 in fees and $3,360 to repay, equivalent to $280 a month if spread evenly. The example illustrates a 12-month term, although the fee table on the same page advertises 2–6 months.

Six-month comparison. Using the same published fees, $2,000 over six months would cost $400 plus six lots of $80, giving $2,880 to repay. That averages $480 a month. The shorter term saves $480 overall but requires an extra $200 a month on average. Both calculations assume on-time payment and no other charges. Actual debit dates and amounts come from the lender’s schedule.

Is a Cash Today quick loan worth it?

Cash Today’s strongest feature is the time saved by matching one application with a lender likely to consider it. The main limitation is cost. In the $2,000 example, stretching repayment from six months to twelve adds $480 in fees. Compare the lender’s total with the cost of paying the bill by instalments, then check whether the debit fits the pay cycle in which it falls.

Cash Today quick loan FAQs

Does Cash Today lend directly or find me the cheapest loan?

Cash Today usually matches you with the lender on its panel most likely to approve your application. It may show several offers and says it lends directly mainly to returning customers. If you receive one offer, compare its total repayments with a direct lender’s quote for the same amount and term. Cash Today’s matching criteria prioritise the likelihood of approval. See how Cash Today describes its lending role.

What would $1,000 cost on a Cash Today small loan versus a payday advance?

Using Cash Today’s published fees, a $1,000 small loan over three months would cost $200 to establish plus three $40 monthly fees, bringing total repayments to $1,320. Its separate payday advance lists a flat 5% fee, bringing the total to $1,050, typically due next payday. These illustrations assume on-time repayment and no other charges. The advance costs $270 less in this example, but requires $1,050 from your next pay.

Does a 60-second match mean I will receive the money within an hour?

No. The 60-second claim refers to finding a potential lender. The lender still needs to complete its assessment, and you must accept its offer. Cash Today says loans below $2,000 may reach your account within an hour after approval, depending on your bank. If a bill is due today, ask the matched lender when it can release the funds. See Cash Today’s funding estimate.

Can I compare a Cash Today offer without a credit enquiry on my file?

Cash Today says checking eligibility and reviewing an offer do not affect your credit score. Once you choose to proceed, the lender may run a credit check. Cash Today’s product table lists a credit check for its standard small loan and identifies a separate $500 “Second Chance” product without one. Check which product you have been offered before authorising a full application.

Can I qualify if Centrelink provides 40% or more of my income?

Cash Today’s eligibility checker gives two thresholds. Its initial screen requires Centrelink to account for less than 40% of income. A separate screen for applicants with bad credit lists less than 50% and monthly income of at least $2,600. If Centrelink provides 40% to under 50% of your income, you meet only the second percentage threshold. Ask Cash Today which screen applies before sharing bank statements.

Can I apply if I am self-employed and my income varies?

Yes. Cash Today says it reviews 90 days of bank transactions for self-employed applicants and may request further documents. If customers pay you irregularly, compare the proposed debit dates with the weeks when little income reaches your account. A monthly average can hide a repayment that falls between invoices.

What changes if I borrow $2,001 instead of $2,000?

That extra dollar moves the request into Cash Today’s medium-loan category. At $2,000, its published small-loan fees are $400 upfront and $80 per month. For $2,001–$5,000, its fee table lists a $400 establishment fee, interest of 19%–48% p.a. and a lender-dependent monthly fee of $0–$18. Compare the total dollars repayable on each written offer. The small loan’s 4% monthly fee and the medium loan’s annual interest rate measure different costs.

If I pay out my small loan early, which monthly fees can I save?

For a small amount credit contract, the lender cannot collect a monthly fee for a month that begins after the payout date. For example, on a $1,000 loan at Cash Today’s published 4% monthly fee, avoiding two future fee months would save $80. Ask the lender for a written payout figure for the date you intend to pay. See section 31C of the National Credit Code.

Who handles a missed repayment or a complaint after Cash Today matches me?

For a missed or unaffordable repayment, ask the lender named in your contract for hardship assistance. For a problem with the match itself, or if you cannot identify your lender, use Cash Today’s complaints and lost-lender forms. If the financial firm has had an opportunity to resolve your complaint, you can take an eligible dispute to the Australian Financial Complaints Authority on 1800 931 678.