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Small Cash Loans from $200 to $2,000 paid within 60 minutes
Small Cash Loans from $200 to $2,000 paid within 60 minutes
Centrelink is part of the Australian Government department of Human Services that was created in 2004. They offer a range of benefits through health, social and welfare payments and services. As of 2021, 5.4 m people receive some sort of welfare support, and the government spends around $200bn per annum on welfare support each year. For more details see Australia's-welfare-2023-in-brief
The objective is to create a safety net for people who may have greater disadvantages than others, or just can’t find regular employment income like most Australians.
It is funded out of taxes paid by workers and businesses, and other sources. They deliver payments and services at times of major change for all these groups:
Indigenous Australians and
People from culturally and linguistically diverse backgrounds.
They can also offer child support for separated parents.
If you receive regular Centrelink payments from one of these sources, you may be eligible for a Small Centrelink loan of between $200 to $3,000.
To find out if you are eligible for Centrelink payments, or other Centrelink payments if you already receive a benefit, you can use their payment search and finder tool.
If you are already on Centrelink benefits you may be eligible for a concession or health care card. These can help you get cheaper health services and medicine to help improve your monthly budget. Click here to check.
Just click here to apply and fill out the application form, we’ll then ask for a 90 day bank statement and Centrelink Income Statement to validate your regular monthly income and expenses.
Before you apply for a Cash Direct Small loan you should check whether you are eligible for either a Centrelink Advance Payment or the Centrelink Home Equity Scheme Loan which are much lower cost Pension
Also, if you are planning to apply for a loan to help with a bond or rental payment first check whether you would be eligible for rent assistance through Centrelink or help from your relevant state government department. Click here to learn more.
There are also several government sites that can help you with budgeting or saving. If you wish to learn more about these click here.
The main types of Small Centrelink loans we offer at Cash Direct are:
Study Loans
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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