Quick Access to Pension Loans Scheme
Small Cash Loans from $200 to $2,000 paid within 60 minutes
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Small Cash Loans from $200 to $2,000 paid within 60 minutes
Before considering a loan with Cash Direct or other lenders, you should consider sourcing funds via the Home Equity Access Scheme.
This is designed for Aged Pensioners to use the equity in their home to get a loan from Services Australia. This can provide a large amount of funds and the interest rate is very low, currently 3.95%.
You can have the funds paid in regular income like payments each fortnight, or as a lump sum.
You then repay the loan over time, that will include the amount borrowed, interest and legal expenses.
To see if you qualify, access the Home Equity Access Scheme calculator here Home Equity Eligibility or from your Centrelink Account.
Who Can Get a loan under the Home Equity Access Scheme?
In short, you or your partner need to:
Be Age Pension age or older
You receive or qualify for a pension such as Age Pension, Carer Payment or Disability Support Pension
You own real estate in Australian that can be used as security
Your property has adequate insurance coverage
For more details on whether you can qualify for the home equity access scheme, click here.
This can be a good alternative to getting a small loan if an unexpected situation arises.
If you do still require a Cash Direct small loan the best way is to apply online, it only takes a few minutes.
The Centrelink Home Equity Access Scheme (HEAS) is designed for Aged Pensioners to use the equity in their home to get a loan from Services Australia. It offers a very low interest rate, currently 3.95%. Funds can be paid as regular fortnightly income or as a lump sum. The loan, interest, and legal expenses are repaid over time.
Yes, Cash Direct provides Cash Loans, Personal Loans, and Vehicle loans for people receiving Centrelink Benefits. While the Home Equity Access Scheme is recommended first, Cash Direct can offer small loans if needed.
For Small Loans of $2,000 or less, there is a 20% establishment fee of the amount borrowed and a 4% monthly fee of the amount borrowed. For example, a $1,000 loan over 4 months would equate to a total payable of $1,360.
Yes, it is advised that you should consider sourcing funds via the Home Equity Access Scheme before considering a loan with Cash Direct or other lenders. It's presented as a good alternative to a small loan if an unexpected situation arises.
Repayment terms for Cash Direct Small Loans are up to 3-12 months. You have the flexibility to repay your loan any time without being charged additional fees, which will reduce your overall interest and fee cost.
To qualify for the HEAS, you or your partner need to be Age Pension age or older, receive or qualify for a pension such as Age Pension, Carer Payment, or Disability Support Pension. You must also own real estate in Australia that can be used as security, and your property needs adequate insurance coverage.
Cash Direct offers Small Cash Loans ranging from $200 to $2,000.
Once approved, Small Cash Loans from Cash Direct can be paid within 60 minutes.
You can use a TV loan to buy new or used televisions, including LED TV, Plasma TV, or Large Screen TV.
No, Cash Direct is not affiliated with, or endorsed by, Services Australia. However, they do provide loans for people receiving Centrelink benefits.
Yes, you can repay your Cash Direct loan any time without being charged additional fees. This action will reduce your interest and fee cost overall.
For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn’t apply. These are fee-based only, and so they don’t have an APR. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed.
For example, a loan of $1,000 repaid over 4 months equates to a total payable of $1,360. This is comprised of $1,000
principal (the amount borrowed), $200 establishment fee, and a total of $160 in monthly fees.
For our Medium Loans between $2,001 and $5,000. The base interest rate may vary depending on the loan product. The maximum rate we use is 48% and an Establishment Fee of $400.
Terms for our Small Loans are up to 3-12 months, and for our Medium loans, it is 3-24 months. With each, you can
repay your loan any time without being charged additional fees, and it will reduce your interest and fee cost overall.
Cash Direct Pty Ltd (ACN: 129 259 605; Australian Credit Licence 393862) is a specialist in providing cash loans to its customers when they need it
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