Payday Loans

A payday loan (or payday advance loan) is a type of unsecured personal loan that lets you borrow money before your next payday. Payday loans are specifically designed for customers who receive regular income payments and need cash quickly to cover unexpected expenses before their next payday.

While they typically charge higher fees than other forms of short-term lending, they’re often for small amounts intended to help with immediate financial fixes, rather than long-term financial solutions.

If you need cash, but your next payday isn’t for two weeks, Cash Train could give you a loan. If approved, you could borrow from $200 to $2,000 and receive the money in your bank account within 30 minutes of approval.**

Your payment obligations will start on your next pay day, usually in equal instalments until you've repaid the total loan amount along with any fees.

Your loan repayments will be automatically direct debited from your bank account on the agreed repayment dates, so you don’t have to worry about missing them.

If you find yourself unable to repay your payday loan on time, don't panic. Just contact Cash Train as soon as possible, and we'll work with you to create a repayment plan that’s suitable. We want to help you avoid additional fees and charges, so the sooner you get in touch, the better.

Depending on the frequency of your pay cycle, your payments will be set up over 10 weeks or 3 months. 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.

Unlike most payday lenders, who require lump sum payment on your next payday or within 1 month, Cash Train spreads your loan over a longer period, making your scheduled repayments smaller, more affordable and easier to manage.

While the law requires all customers to provide 90-day bank transactions, there's no need to print or scan any paperwork as we gather all the information we need online, through our secure partner Illion.

While not every applicant will be eligible, we make every effort to offer loans to customers with a bad credit history as long as they can comfortably afford their monthly repayment amount. Approval will largely depend on your current financial situation and needs rather than previous incidents on your credit report.

If you don't know your current credit rating, we recommend contacting an online credit provider to perform a free credit check. You’ll usually need to verify your identity and provide some personal information before they assess your credit history and generate your credit score.

There is no definite answer to whether a payday advance is suitable for you, as it depends on your personal financial situation. Payday advances can be a helpful way to bridge the gap between paydays or cover unexpected expenses.