Online small loans
We offer small fast loans online.
Applying is speedy & simple
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How much do you need to borrow?
Online Small Loans in Minutes
Are you looking for an online small loan for amounts of $1000 to $2000? If so, are you also looking for a simple application process with fast approval confirmation? In this case, a Cash Today small payday loan could tick all the boxes. We offer set fee structures, plus flexibility with repayment. In addition, you can find out if you’ve been approved for an online small loan the very same day. We do also offer online loans for larger amounts. Cash Today provides terms and conditions that are simple to understand. Consequently, you can be assured that there will be no unwelcome surprises with your online loan.
Making Online Small Loans Easy for You
Cash Today is proud to have provided small loans for thousands of customers since 2006. We are proud to have a positive reputation for transparency and high standards of service. Our aim is to provide a personal approach and offer outstanding communication, as well as emergency cash made available fast. So, you can rely on Cash Today to help when you need a small amount of money quickly. Applying for a small online loan takes less than 5 minutes. Simply complete the online application using your phone, computer, or tablet. There are no long application forms or detailed paperwork. You’ll know exactly how much you’ll be paying in fees, and can choose from repayment options that suit you. Individual circumstances will vary, but rest assured, we will provide you with all the information that you need to make an informed decision and access the funds that you require, fast.
Easy Secure Application
Applying for a payday loan is easy and quick. In less than 5 minutes you can apply for a Cash Today payday loan amount up to $2000.
Small Loans Fast
Once your application is submitted, our team can approve your payday loan quickly. You’ll get a decision within hours instead of days.
Same Day Payments
Once you’ve been approved we will deposit the money into your bank account the same evening if your application was made before 2pm.
At a glance
Simple loan rates & fees
See our simple rates and fees below, and then view more information about rates & fees to work out repayments and total costs for different amounts and terms .
Small loans
Up to $2000
| Small loans (SAAC) | |
| Loan amounts | $500 – $2,000 |
| Loan term | 1 – 12 months |
| Establishment fee | 20% |
| Monthly fee | 4% |
| Interest rate | N/A |
Medium loans
Up to $5,000
| Medium loans (MAAC) | |
| Loan amounts | $2,001 – $5,000 |
| Loan term | 3 – 24 months |
| Establishment fee | $400 |
| Monthly fee | $0-$18 |
| Interest rate | 19% – 48% |
Second chance loans
$500 with no credit check
| Second chance loans (SAAC) | |
| Loan amounts | $500 |
| Loan term | 1 – 12 months |
| Establishment fee | 20% |
| Monthly fee | 4% |
| Interest rate | N/A |
Larger loans
Up to $80,000
| Large loans (personal) | |
| Loan amounts | $5,001 – $80,000 |
| Loan term | 3 – 7 years |
| Establishment fee | $310-$1035 |
| Monthly fee | $0 |
| Interest rate | 7.24% – 19.99% |
*Please note that the figures shown are indicative only and may not include all fees and charges. All applications are subject to assessment.
Applying
Find out how likely you are to qualify for our lower rate loans.
Healthier financial history = access to lower loan rates
- Our competitive personal loan rates are between 7.24% – 19.99% p.a. and our urgent loans are between 19% and 48% p.a.
- The loan rate that you are offered will be dependent on your individual circumstances, loan amount, and the type of loan
- For example, a secured car loan is likely to have lower rates than an unsecured loan with a vague purpose
Great
Good chance of approved for a loan. Likely to qualify for a loan with lowest rates.
Characteristics:
- Credit score: Good (above 600)
- Stable employment or income with clear repayment affordability
- Low Debt-to-Income Ratio (well below 36%)
- Positive Savings History
- Minimal existing loans
- No disqualifying conditions.
OK
May be approved for smaller loan amounts, loan rates may be higher.
Characteristics:
- Credit score: Ok (above 400)
- Recent job changes/ gaps in employment but clear repayment affordability
- Debt-to-Income Ratio approaching 36%
- No new loans in the last 90 days
- No disqualifying conditions.
May not be suitable
Unlikely to approved for a loan over $1,000 or qualify for lower loan rates.
Characteristics:
- Credit score: Low (less than 400) or none
- May have a high debt-to-income ratio (DTI) above 36% or significant outstanding debts
- May have a history of unemployment or frequent job changes
- No disqualifying conditions.
Automatically declined
Will not be approved for a loan.
Characteristics:
- Displays one or more disqualifying conditions.
- Unable to afford repayments
- No regular income
- Risky debt-to-income ratio (DTI) above 60%
Consider improving your financial health and applying at a later date.
Am I eligible for a loan?
If you want to understand whether you are able to be approved for a loan, there are a few things to consider.
Loan requirements
- Proof of Australian residency (utility bill) and regular income
- Driver’s license or other identification (over 18 years of age)
- A read-only 90-day bank statement (via online bank verification)
- Credit check
- Repayment affordability can be established
- No direct debit dishonour transactions in bank statements
Credit check
Credit history
A history of responsible borrowing shows that you’ve paid your bills on time and haven’t maxed out any credit cards.
Credit score
A good credit score is a strong indicator of your creditworthiness and could mean that you are eligible for loans with lower interest rates than another applicant with a less favourable credit score.
Debt-to-income ratio (DTI)
If you have a low debt-to-income ratio (DTI) this is the best position to be in for getting approved for a loan. A great debt-to-income ratio is 3.6 (36%) or less.
The higher your debt-to-income ratio, the less likely you are to be approved. That’s because you will be making repayments on your existing debt, and have less available funds to comfortably make repayments on a new loan. A debt-to-income ratio of 6.0 (60%) or higher is considered risky for lenders.
How to calculate your debt-to-income ratio
Debt-to-income ratio = Total debt divided by total annual gross income
This can be expressed as a number or a percentage.
Resource:
Debt-to-income ratio calculator
Loan amount and purpose
The amount you’re borrowing and what you’ll be using it for can also affect your approval odds.
Generally, smaller loans for specific purposes (like a car repair) are easier to get approved for than large loans with a vague purpose.
Collateral
Some loans, especially larger loans such as home renovation loans or car loans, require collateral. This is an asset the lender can seize if you default on the loan.
Having collateral can improve your chances of getting approved, especially if your credit score isn’t perfect. In some cases it can also qualify you for lower loan rates.
Income and employment
If you have stable full time employemt with income that would allow you to comfortably repay a loan, this makes you most likely to be approved for a loan.
It is still possible to be approved for a loan with part-time employment if your regular expenses are lower and affordability can be established.
Other forms of supplementary income are also considered such as government benefits.
Your total income amount, your employment history, and any other sources of income will be taken into consideration when making an approval decision on a loan application.
Responsible lending
Understanding your individual circumstances
At Cash Today, we understand that unexpected expenses can arise. While we’re here to help you access the cash you need quickly, we’re committed to responsible lending practices. This means we take the time to assess your individual circumstances before offering a loan.
Prioritising your financial well-being
We prioritise your financial well-being and want to ensure you can comfortably manage repayments. We also offer clear and transparent loan terms so you understand the full cost upfront. If alternative solutions like payment extensions or budgeting tools can better address your situation, we’ll be happy to point you in those directions.
Lower rates reward good track records
If you can demonstrate a strong financial track record you are more likely to get approved for personal loans and qualify for lower loan rates. If your income compared to your ongoing expenses shows that you have the ability to comfortably afford higher loan repayments you may be able to get approved for higher loan amounts.
Preventing financial stress
In the event that your financial history reflects more unstable income, a poor credit rating, or a high debt-to-income ratio, your application may be declined if it is determined that repaying the loan would not be affordable and result in further financial hardship for you.
You may only be approved for smaller loan amounts with lower repayments, and you may not qualify for lower rate loans and need to carefully decide whether you are willing and able to accept paying higher rates for the loan.
Protecting your future
It’s important to note that even if you can comfortably afford repayments, your application might not be approved. This is because we assess your financial history to ensure responsible lending. We want to avoid situations where the loan could negatively impact your long-term financial health. This includes missed payments that could damage your credit score and make it harder to access future loans.
Disqualifying conditions
If you display one or more of the following loan disqualifying conditions you are not currently eligible for a Cash Today loan.
- Opened a personal loan in the last 90 days
- Already has two or more payday loans under $2000
- Bank statements in the last 90 days display transactions for online gambling
- Bank statements show payments made to collection companies, payment arrears, or dishonours in the last 90 days
- Bank statements show wage advances such as Wagetap, Wagepay, MyPayFast, Beforepay, in the last 90 days
- Bankruptcy
You should consider seeking alternative options for financial assistance, or delay applying until your 90 day financial history reflects that you are eligible to apply as well as able to comfortably afford repayments.
FAQ: Online Small Loans Fast from Cash Today
What is an online small loan?
A small loan, small personal loan, or small payday loan is generally considered to be an unsecured loan amount that you apply for which is $2000 or less. Often, a small online payday loan is repaid with your next pay from your employer or stretched out with a few smaller repayments debited on multiple dates over time. Small online loans are usually taken out when there is some kind of unforeseen expense that requires extra cash quickly.
It may be that you are just temporarily short on cash until your next payday. Or, you just need some buffer time to get back on track with your budget. Cash Today makes the process of understanding our online small loans easy. We offer simple fixed fees (no interest charged), and you can repay the loan amount faster than with a traditional personal loan. In this way, an online small loan with us might be a better alternative as compared to other options. For example, avoiding high credit card interest, or having to ask friends or family for financial assistance.
One example of the need for an online small loan might be that you are paid monthly, however, at the end of the month, you discover that your expenses have exceeded your budget. In this situation a Cash Today cash advance is an option that could provide a helpful financial buffer temporarily. You can apply for a Cash Today online small loan from anywhere in Australia, 24/7, and get you approval status back fast.
Additionally, if you would like more information on loans higher than $2000 up to $5000 click here.
Why would I need an online small loan?
Some situations where you might choose to apply for a small cash loan include:
1: You are not able to negotiate a payment plan or payment deferral with a service provider
2: You have a bill due with an inflexible due date
3: You aren’t able to access your savings quickly, or without paying extra fees to do so.
4: You need to make a payment with physical cash, and so a cash advance incurring higher interest rates could be out of the question.
Can I get an online small personal loan with no credit check?
If you are concerned that your credit rating could prevent you from being approved, it will be reassuring to know that in some cases Cash Today can offer no credit check approvals for small loan amounts. We do make our approval decisions based on more than just your credit score. We understand that life doesn’t always go to plan, and so we take into consideration many factors reviewing applications, including your regular income and how easily you can make repayments. Although you are more likely to get approved if you have a good credit rating, we are able to offer options for lending small amounts regardless of your credit history.
How long does it take to get Cash Today loan approval?
If you need same-day approval for an online small loan amount of $1000-$2000 and also require options where repayments are affordable, you might consider a Cash Today loan. Once you submit your application, we will review online read-only bank statements which will help us to process your application quickly. No printing, scanning, or attaching documents is required. If we can see a history of regular income paid into your bank account, plus meet our other lending criteria, we can make a positive approval decision within hours. Once approved, we can release funds to your designated bank account the same day.
Do you offer online small loans for Centrelink customers?
Online small loans are sometimes available for Centrelink customers or those receiving other government benefits in certain situations. We will carefully consider all forms of income in your application. Your chances of being approved are better for a small loan amount than for a larger loan amount when you are using Centrelink payments as a form of income. At Cash Today, we pride ourselves on being a responsible lender, so we will need to see that you are able to afford repayments in order to approve a loan.
Loans with no credit checks or bad credit, plus Centrelink income are more difficult for us to approve to $500.
That’s because we are careful to take into account your entire financial situation when making our lending decisions.
Who can apply for an online small loan?
Did you know that we offer online small loans Australia wide? Our online loans are one of the easiest ways for you to get up to $500 paid fast into your bank account. Our online application process takes under 5 minutes, but there are certain criteria you need to meet in order to be eligible for a loan. Firstly, you need to be 18 years or older. Secondly, you will need to be an Australian resident. Thirdly, you need to be able to show that regular income has been paid into your bank account.
If you meet our lending criteria, and it is clear that repayments would be affordable for you, you could get approved within just hours. After this, the cash is transferred to your bank account that same day. Please be aware that depending on your banking institute, there may be transfer processing delays for funds clearing and being accessible.
If you made your application before 2 pm AEST, the money will be electronically deposited into your account that same evening. We know how important it is to offer reliable lending to our customers. Our team work hard to process applications quickly and get you an approval decision fast.
Does Cash Today offer instant payday loans?
Once we receive your application our team works as quickly as possible to get you a decision on your application. Once approved the process of electronically depositing the money into your allocated account uses instant bank transfer processes.
What are the best online small loans?
If you are wondering how to choose an online small loan, look for:
1: Upfront fees with no hidden costs
2: A good reputation and lender reviews
3: An established track record as a responsible and reliable lender.
Cash Today is proud to have been helping Australians get cash when they need it since 2006. Some of our loyal customers have said they think we offer the best payday loans in Australia with the friendliest customer service.
You also want to look for a simple application process without:
1: Lengthy paperwork
2: Having to upload bank statements
3: Waiting days for an approval decision.
It’s always a good idea to find out more about alternatives to payday loans before applying. Check out moneysmart.gov.au for more information.
Do you provide same day online small loans?
Our easy online small loans come standard with same day approval if you complete your application before 2 pm AEST. Fast small payday loans are important when you need money quickly to handle an unforeseen expense.
Here’s what applying might look like for you:
1: You go onto the Cash Today website on your phone at lunchtime, and fill out the quick application form.
2: You are directed to approve our request to access 90 days of read-only online bank statements from your bank.
3: That afternoon, you receive an email saying you’ve been approved for the loan amount.
4: The money is transferred to your bank account that same evening.
5: At a later date, you repay the loan amount with smaller repayments split over the next few weeks after you get paid.
Quick small payday loans?
The fastest way to get a small loan is to:
1: Carefully consider the amount that you want to borrow.
2: Use our repayment calculator to work out how much you would be repaying and the fees you will be paying.
3: Decide on an amount that you feel comfortable repaying.
4: Complete the application process in just a few minutes before 2 pm AEST, and then you’ll get a decision via email within hours.
Please note that all decisions are made based on our criteria for responsible lending.
Alternatives to Small Loans
A small payday loan isn’t always the best option for everyone, so it’s important to carefully consider your financial position, fees payable, and the repayment amounts. An ideal scenario would be to find options without fees, or interest charged.
For some utilities or services, it might be possible to request an extension on the due date, waive late fees, or arrange an alternative payment plan. Another option could be approaching family or friends for a loan and then repaying them promptly.
If you aren’t quite sure which option is best for you, there is free and confidential financial counselling available for you to access. Click here to view the contact details for the different providers available to you at no cost.
In the event that you decide that a small loan amount less than $2000 is the best option for you, we would be happy to help you get approved for your small loan quickly and get the cash you need as fast as possible.
You can also get more information about Cash Today to help you decide here.