Frequently Asked Questions

Need a loan to take care of that emergency, that unforeseen bill or just to reward yourself?

Frequently asked questions

What is a SAAC loan?

A Small Amount Credit Contract (SAAC) loan is a type of short-term loan product for up to $2000, repaid over a duration that is between 16 days and 12 months, and is regulated under the National Consumer Credit Protection Act since 2009.

They differ from payday loans, as they can be repaid over longer periods of time, as opposed to being repaid within one or more employer pay cycles.

What is a MAAC loan?

A Medium Amount Credit Contract (MAAC) loan is a type of short-term loan product for amounts between $2001 and $5000, repaid over a duration that is between 16 days and 24 months, and is regulated under the National Consumer Credit Protection Act since 2009.

They differ from payday loans, as they are for higher loan amounts and can be repaid over longer periods, as opposed to being smaller loan amounts that are repaid within one or more pay cycles.

What is a personal loan?

A personal loan in Australia is a financial product provided by banks, credit unions, or online lenders that allows individuals to borrow a lump sum of money for various purposes, such as consolidating debts, funding a major purchase, or covering unexpected expenses.

Unlike specific-purpose loans like home loans or car loans, personal loans are unsecured, meaning they typically don’t require collateral. Borrowers repay the loan over a fixed term through regular instalments, which include both principal and interest.

The interest rates on personal loans can vary based on factors such as the borrower’s creditworthiness and the lender’s policies. Personal loans offer Australians a flexible financing option to meet their diverse financial needs, providing access to funds for endeavours ranging from home renovations to travel adventures.

What is your renewal policy?

Cashtoday does not offer to renew or refinance loans.

I'm new to CashToday. How do I get started?

Decide on the loan amount that you would like, check the terms and conditions, as well as the repayment amounts. Once you are confident a Cash Today loan is right for you, click the Apply Now button to start the application process.

What documents do I have to provide?

Cash Today will require the last 90 days of your bank statement for each loan.  If you are a new client, we may also request to view a copy of your driver’s license and a utility bill.

What are the requirements for approval?

We do require you to be a resident of Australia and to have consistent income over a 90 day period.

When do I get my money?

If you apply and are approved prior to 2pm, funds will be deposited the same day and available to you later that evening.

How do I get my money?

Direct funds transfer. The money is directly deposited into your nominated bank account.

How do I repay my loan?

We make a direct withdrawal from your bank account on your agreed repayment dates. We only withdraw the amount that was authorized in your loan contract. If you pay off this loan early you will not incur a early payout penalty.

What happens if I don't have the funds available to pay back the loan?
We are always happy to work with you, provided you contact us via email as soon as you know that there’s a problem. If you contact us before the due date, we can make arrangements to change the repayment date until your next payday. You may incur additional fees for this which are listed in the loan documents that you will sign. If we attempt to withdraw funds and your direct debit dishonors, you will incur a fee of $40. By staying current with your original loan, you limit any additional charges or collection fees applied to your account.
Can I have more than one loan with CashToday at a time?

No. We must have the full amount collected before we can issue another loan. Besides protecting us, this policy also helps you avoid getting overextended.

What if I only have a business account?

We require you to show us the last 3 months of bank statements to show us your income.

What if I am self employed?

We require you to show us the last 3 months of bank statements to show us your income.