Payday loans 

Legally it’s a Small Amount Credit Contract (SACC): a loan of up to $2,000, repaid over 16 days to a year. CashnGo payday loans run from $300 to $2,000 over 3 to 6 months. They’re unsecured and charge fees rather than interest.

A SACC has no interest. By law the fees are capped at a 20% establishment fee plus a 4% monthly fee, both worked out on the amount you borrow. Borrow $1,000 over 3 months and you repay $1,320 in total — $1,000 principal, a $200 establishment fee and $120 in monthly fees. Every figure that applies to your loan is shown before you sign.

Yes, but it’s no longer a payday loan. Amounts from $2,100 to $5,000 are a Medium Loan, which has a single $400 establishment fee and a maximum rate of 48% p.a. (comparison rate 65.6597% p.a.) rather than SACC-style monthly fees. On a larger amount that structure usually works out better.

Often, yes, and they’re worth checking first. A Centrelink advance is interest-free if you’re eligible, a No Interest Loan (NILS) from Good Shepherd covers essentials with no interest or fees, and many providers offer hardship plans on bills. The free National Debt Helpline on 1800 007 007 can help you compare, and the government’s Moneysmart website has a plain-English guide to payday loans.

You can apply, and we weigh your current situation rather than a credit score alone. We do run a credit check and we can’t promise an outcome — every application is assessed on whether the repayments genuinely fit your budget. If you’re bankrupt or in a Part IX or Part X arrangement, we won’t be able to help.

No. Licensed Australian lenders have to assess whether a loan is affordable for you before approving it, so nobody can honestly guarantee approval, and applying always leaves an enquiry on your credit file. Any site promising guaranteed approval, instant approval or no credit checks is a warning sign, not a feature.

The application takes about five minutes and most people get an outcome in seconds; some need a closer look, up to a business day. Once you accept and sign, we send the transfer straight away, and how quickly it lands depends on your bank — often minutes, sometimes longer outside business hours.

You repay by direct debit — weekly, fortnightly or monthly — on a schedule you line up with your pay before you confirm. By law your SACC repayments can’t exceed 10% of your net income. You can clear the balance early at any time with no extra cost, and the monthly fees stop from the day it’s paid out.

Call us on 13 13 11 before the due date and we’ll look at other arrangements. A failed direct debit can attract a dishonour fee from us and from your bank. If money is tight more generally, the National Debt Helpline on 1800 007 007 is free and confidential.