Short Term Loans
Life can be unpredictable. An instant short-term loan could help you bridge the gap and cover unexpected expenses.
Why choose Cash Train for a short term loan?
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.
Eligibility
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:
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 loan application process
Applying for a short term loan with Cash Train is as simple as 4 easy steps.
Apply online in minutes
Fill out your online application form anywhere, at any time. All you have to do is answer some simple questions.Get your loan offer
Get your loan conditionally approved* which outlines the terms of your loan while you wait for final approval.Receive your loan approval
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.**What can I use a short term loan for?
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.
Car repairs
Get back behind the wheel faster with credit solutions for mechanic visits and car fixes.
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
What is a short term loan?
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 $4,600 with a maximum loan term of 15 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.