Experience the ease of securing fast small loan funds through Savvy, a straightforward alternative to loans like Cash Converters.
Fact checked
Fact checked
Cash Converters is a popular name in Australia, with many around the country seeking them out, as well as loans like them, for quick funds. However, it's vital to recognise the importance of exploring alternative options. Savvy can provide insights into loans like Cash Converters and similar choices, enabling you to compare them with the simplicity of applying for a fast loan through us today!
Cash Converters specialises in providing small loans tailored for those seeking quick and hassle-free access to funds. These loans, often referred to as payday loans, come as either small loans ($400 to $2,000) or medium loans ($2,050 to $5,000). Although small loans are based on fees and don’t come with interest, rates are applied to medium loans. However, the actual borrowing limit is influenced by factors such as your income, financial history, and outstanding debts, as well as the lender you apply with.
The application process prioritises speed, resulting in the funds hitting your account as soon as 24 hours after you’re formally approved. Borrowers enjoy flexibility in choosing repayment terms, spanning from two to 12 months for small loans and from four to 24 months with medium loans.
When it comes to loans like Cash Converters, the fees and interest applied are contingent on the chosen loan size. Loans of $2,000 or less involve an initial establishment fee, capped at 20% of the loan amount, and ongoing monthly fees, potentially reaching 4% of the loan. For larger loans, ranging from $2,001 to $5,000, the establishment fee is capped at $400, and the interest is charged at no more than 48% p.a. (which is charged by Cash Converters as of January 22, 2024).
Knowing these fees and how they work is pivotal for understanding the overall cost of your loan. For instance, borrowing $500 and repaying it over four fortnights could result in total fees of $140, but opting for a $2,000 loan extended over 13 fortnights would incur increased fees, totalling $880. On the other hand, taking out a $3,000, 12-month loan with Cash Converters and repaying it fortnightly would result in a $400 establishment fee and a total interest cost of $1,032.
If you’re in the market for a loan like Cash Converters, you can explore small loans through Savvy. Our platform connects you with reputable lenders offering fast cash loans ranging from $2,050 to $5,000. The application process is user-friendly and conducted entirely online. Upon submission, you can expect an instant outcome in just 60 seconds. If you’re conditionally approved, formal approval can occur, and funds may be released, within as little as one hour, depending on your lender and bank's processing times. Take the first step with us today for a hassle-free way to access the funds you need!
No matter the time of day or week, you can complete your small loan application with us online.
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We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
Disclaimer:
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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
