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Fast Cash Loans for Australians

Find out how to get quick and instant cash advances online

Get a quick estimate for loan
How much cash?
How long for?
Loan length:
APR:
Interest:
Pay by:
16 Days
728.9%
$7.72
23.1.2014
Total repayment:
$107.72

Cash loans are the easiest, most convenient and at times, the only source from where you can receive a small sum of cash that can go a long way in taking care of your requirements.

If you are an adult Australian citizen with a regular job, you are more than likely to be eligible for an instant cash loan.

Many people use the terms ‘Cash Loans’ and ‘Payday Loans’ interchangeably. For all practical reasons, cash loans and payday loans are much the same. The only difference lies in the fact that payday loans are synchronised with your payday, while fast cash loans can be tuned in for any convenient date of the month.

However, cash loans are much too different from bank loans or personal loans. Let’s take a look at these differences.

Cash Loans Are Different!

Cash loans are much different than traditional bank loans or personal loans. Some of these differences are:

Why the need for cash loans?

Urgent and unexpected need for money is not a rare occurrence for many of us. Every now and then, we are all faced with situations that demand us to arrange for some instant cash.

It goes without saying that it’s not always easy to do this. At times, especially when you have just spent all of your payday balance on essentials and the next payday isn’t due for weeks, arranging for as little as $200 can appear like an uphill task.

If you approach banks or private lenders when you have such cash requirements, you will invariably find that,

  1. They do not generally tend to service small loans as they cannot afford to engage their resources for such loans.
  2. Even if they approve your loan application, it will not be before the application has to move through the ranks and various checks. So, in essence, days (weeks, in some cases) will go by before you actually see the money.

As if to make things even more difficult, people with bad credit score stand a very slim chance of getting a loan from financial institutions like credit card companies or banks. What, then, needs to be done in such situations?

If you find yourself in such a situation where you know you need cash but you just don’t know how to get it or whom to approach, you need to stay calm and stay put. Not panicking is the first thingyou should remind yourself of. The next, probably, will be to apply for a cash loan.

Applying for a fast cash loan

Applying for a cash loan is really straightforward. To be eligible, however, you need to be able to meet certain requirements. There are:

If you meet these requirements, it won’t take you more than a few minutes to fill the application form in and get it submitted.

At Viva Payday Loans, we offer you the best and most compatible choices of cash loan lenders that you can choose from.

Validity and Legal Status of Instant Cash Loans

Cash loans taken from registered lenders are recognized in fullness as ‘personal loans’, meaning that you enjoy legal protection against unethical or illegal means of loan settlement. This also means that lenders can only use legally acceptable means of loan extraction, including enforcement directives from the relevant court of law.

Cash loans, much like payday loans, are monitored and overseen by the Australian Securities and Investments Commission (ASIC), a governmental supervisor of internal and external investment related finances. Hence, all cash loans are duly registered in the system. This makes it very safe to apply for a cash loan.

Cash Loans Interest Rates

Interest rates of cash loans are higher than corresponding bank loans or credits. This has to do with the fact that cash loans are granted against bad credit and no collateral. However, it must be noted that these interest rates (upper cap thereof) are monitored and decided by the ASIC and not lenders themselves.

Presently, the limit set by the ASIC for short term cash loans stands at 24%. This includes a one-off establishment fee (20% of the loan) and 4% term interest (generally compounded on a monthly basis).

This is when a cash loan can matter!

Cash loans are suitable in an event when even a small loan that is available instantly can make a difference. Typical reasons that people get cash loans for are:

Important Features of Cash Loans

There are many distinctive features of cash loans that make them popular among borrowers. These include:

Summary

To conclude, it can be said that cash loans are useful when it’s difficult to get bank or personal loans. They can meet your urgency, all the while making sure that you don’t get tangled up in documentation and collateral management.

At Viva Payday Loans, we offer an extensive and thorough comparison of various cash lenders. We advise all the applicants to read the agreement clauses scrupulously before submitting an application.

Payday loans

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