CashnGo Loans Review

Company Outline

cashngo loans logo

CashnGo Loans is a provider of short-term loans. Applications for CashnGo payday loans are accepted from Centrelink recipients as well as people with poor credit. George Hajjar founded CashnGo in 2013, and the company today employs more than 50 people.

The CashnGo headquarters are located in Parramatta, New South Wales, and are open for business from 9 AM to 8 PM on Monday through Friday and from 9 AM to 5 PM on Saturday. The CashnGo credit licence number is 431627, and its ABN is 82 156 288 078. The business is the winner of the ProductReview.com.au Awards for Short Term Loans for 2021.

CashnGo’s customer service team is available during business hours to assist with any inquiries or issues, ensuring a smooth and supportive experience for all customers.

Cashngo Short Term Loans

A $300 minimum loan amount and a $2,000 maximum loan amount are available from CashnGo for short-term loans. Only $600 and $300 loans, respectively, are available to first-time consumers who are employed or rely on Centrelink support. Twenty percent of the loan amount is the setup charge, which is the establishment fee for first-time customers. All the costs involved upfront are clearly presented before confirming the loan, ensuring transparency and informed decision-making for borrowers.

These loans are for a minimum of 62 days and a maximum of 180 days.

How to apply for a loan

The application process for CashnGo loans is designed to be seamless and efficient, ensuring a quick and straightforward experience for applicants.

To qualify, you have to fulfil the following requirements:

  • You are eighteen years old.
  • You work as a full-time, part-time, or casual employee with a steady income; you are not on probation.

Through the application procedure, you will need to submit the following personal information and the necessary paperwork:

Photo Identity Details regarding your internet banking Information on finances and employment

You have the option of sending your money to your chosen bank account or loading it onto your CashnGo Eftpos Card, if you have one. The time it takes to request a deposit of money into a bank account varies based on your bank. A small loan has a one to four month repayment period, with weekly, every two weeks, or monthly installments due.

Key Features of the loan

The ability to apply online or at one of CashnGo’s conveniently positioned service kiosks is a noteworthy aspect of its lending offering. You may also check your loan balance, complete your loan, and see the status of your application through the online dashboard.

  • Reasonable interest rates
  • Rescheduled payment options
  • Simple application available via CashnGo’s self-service portal or online Kiosks
  • Tailored repayment schedule options to fit individual financial situations, ensuring manageable and stress-free repayments
  • No unstated costs

Factor In Costs

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

16 days (minimum)

12 months (maximum)

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Representative example based on a loan of $1000 over 6 months a borrower can expect to pay a total of $1440.

Disclaimer: Under the current legislation, all Small Amount Credit Contract loan providers don’t charge an annual interest rate. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The minimum loan term is 16 days and maximum loan term is 12 months. Representative example based on a loan of $1000 over 6 months a borrower can expect to pay a total of $1440.

Loan amount

$2,100 - $4,600

Terms

12 months (minimum)

24 months (maximum)

Costs

47.8% Annual Percentage Rate (APR)

65.85% Comparison Rate p.a.

Example

Representative example based on a loan of $2500 over 24 months a borrower can expect to pay a total of $4,556.88.

The maximum interest rate for a Medium Amount Credit Contract is 47.8%. Comparison Rate 65.85% p.a. The maximum loan term is 24 months. Representative example based on a loan of $2500 over 24 months a borrower can expect to pay a total of $4,556.88. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Credit criteria and terms and conditions apply.

Loan amount

$5,000 - $15,000

Terms

12 months (minimum)

24 months (maximum)

Costs

47.8% Annual Percentage Rate (APR)

47.8% Comparison Rate p.a.

Example

Representative example based on a loan of $10,000 over 36 months a borrower can expect to pay a total of $18,995.04.

This is an estimate only and the comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit.The maximum interest rate for a Personal Loan is 47.8%. Comparison Rate 47.8% p.a. The maximum loan term is 24 months. Representative example based on a loan of $10,000 over 36 months a borrower can expect to pay a total of $18,995.04. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Credit criteria and terms and conditions apply.