CashDirect Loan Review

Read about CashDirect's financial services and their offerings, designed to meet your needs, with Savvy today.

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, updated on February 12th, 2024       

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CashDirect is a lender which specialises in small payday loans and is based in Fremantle, Perth. Before choosing CashDirect, knowing how its finance products work, as well as the fees and terms is crucial. Fortunately, you can explore these details with Savvy. Dive into our analysis of its offerings and discover potential alternatives with us today!

Rates and product information are correct as of 12 February, 2024.

CashDirect Loan Review

How do CashDirect's small loans work?

With CashDirect, borrowers have access to loans ranging from $200 to $2,000, with repayment terms extending from one to six months. These loans fall under the Small Amount Credit Contract (SACC) category, making them subject to specific regulations regarding their fee structures. You can also access Medium Amount Credit Contract (MACC) loans through CashDirect, which range form $2,001 to $5,000, and larger cash loans of $5,001 to $10,000. Borrowers have the flexibility to choose their repayment frequency (either weekly, fortnightly or monthly) and won’t be charged any further fees for paying off the loan early.

The application process for CashDirect is entirely online, ensuring convenience and efficiency for borrowers. Applicants must be over 18, an Australian resident or living here on an eligible working visa and earning a regular income to qualify. Upon submission, you can receive a fast outcome, and if approved, your money can be paid within 60 minutes of formal approval.

What will the cost of a small loan through CashDirect be?

CashDirect provides small loans with the following price breakdown:

Loans from $200 to $2,000:

  • Establishment fee: 20% of your loan amount
  • Monthly fee: 4% of your loan amount
  • Cost example: for a $1,000 small loan repaid monthly over three months, you would incur a $200 establishment fee and a $40 monthly fee, resulting in a total loan cost of $1,320.

Loans from $2,001 to $5,000:

  • Interest rate: up to 48% p.a.
  • Establishment fee: $400
  • Cost example: for a $3,000 small loan repaid monthly over 12 months, you would incur a $400 establishment fee and interest of $947, resulting in a total loan cost of $4,347.

Can I qualify for a small loan with CashDirect if I have bad credit or receive Centrelink payments?

CashDirect evaluates loan applications by considering an applicant's current financial situation, rather than solely relying on credit scores or Centrelink benefits. Although they conduct credit checks in line with Australian responsible lending laws, CashDirect looks at various factors to determine eligibility, helping those who have a less-than-perfect score qualify for financing.

Regarding Centrelink payments, CashDirect can offer loans to eligible borrowers who receive part or all of their income through benefits. This means, provided you meet its other qualification requirements, single mothers and those receiving stable payments like the veteran payment and age pension may be able to access funding.

What are the potential alternatives to a small loan with CashDirect?

An alternative option to consider instead of CashDirect is applying for a small loan through Savvy. We’re partnered with a variety of Australian lenders to help streamline the process of securing the funds you require.

Here's the simple process of applying for a small loan through Savvy:

  1. Complete our straightforward application form, providing essential details such as your credit score, income, employment status, and desired loan amount, ranging from $2,050 to $5,000.
  2. Submit your application and receive an instant automated decision from one of our partnered lenders.
  3. Upon conditional approval, your application will be evaluated by your assigned lender, which may require additional documentation.
  4. Upon lender approval, you'll receive formal approval and loan documents outlining your loan terms, fees, repayment schedule, and other relevant information.
  5. After signing and returning the documents, your funds will be promptly deposited into your designated bank account, which may be as soon as the same day.
Apply now

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We're here to help make life easier for you. With smooth online applications, instant outcomes and funding as soon as the same day, it's never been easier to access the funds you need than by applying through Savvy.


The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.

For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.

Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.