Fast cash online

For the times you aren't prepared – Cash loans that can be in your account today.


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It’s hard to budget for the unexpected, not just because you don’t know when you might need emergency funds, but you also don’t know how much you may need. If you find yourself caught short when an unexpected expense crops up, it’s essential to consider all your options, and one of these is a fast cash online loan.

⚠️ Warning: be cautious with short-term loans

If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the MoneyTalks helpline operated by FinCap on 0800 345 123. It is open from 8:00am to 5pm, Monday to Friday and 10am to 2pm Saturday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged.

Alternatives to short-term loans

Consider these alternatives before applying for a payday loan:

  • Use online Government resources. The Commerce Commission New Zealand website explains how loans works and what to be aware of when borrowing from a lender.
  • Payment plans. Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan or receive an extension on your due date if you’re behind on payments.
  • Contact your creditors. Speak with creditors about extending the due date of your payment, or working out a new payment plan that works for both of you. Seek personal loans elsewhere. Consider a small personal loan from a bank or a credit union. You may qualify for a loan with much lower interest rates than those offered by payday loan companies.
  • Pay with credit card. Consider paying with your credit card to cover your emergency bills or payments. This is not a long term solution, as you’ll need to pay off the balance as soon as possible, but it’s an alternative to a short term loan with high – and immediate – interest rates.

How to compare cash loans online

Here are some loans to consider.

Name Product Max Loan Amount Loan Term Turnaround Time Loan Interest Establishment Fee Account Administration Fee
Save My Bacon Mini Loan
1-8 weeks
Same day
49.95% p.a
Short term loans up to $750 with no hidden fees. Eligibility: Be 18 or over, have an income of at least $400 per week and be a NZ citizen, permanent resident or have a valid work visa.
Teensy Cash Loan
6-12 months
Same day
39.95% p.a.
Eligibility: Must be at least 22; in full time employment or receive a full-time benefit; have a minimum income of $500 per week after tax; be a New Zealand citizen or permanent resident.
Moola Payday Loan
Up to 184 days
Same day
292% p.a.
Borrow up to $2,000 and enjoy a flexible repayment plan. Eligibility: Be 18 or over, have an ongoing source of income, working visa applicants accepted (conditions apply).
Teensy Payday Loan
6-16 weeks
Same day
292% p.a.
Eligibility: Must be at least 22; in full time employment or receive a full-time benefit; have a minimum income of $500 per week after tax; be a New Zealand citizen or permanent resident.
Save My Bacon Flex Loan
8-52 weeks
Same day
49.95% p.a
Medium term loans from $1,000 to $5,000 with no hidden fees. Eligibility: Be 18 or over, have an income of at least $400 per week and be a NZ citizen, permanent resident or have a valid work visa.

Compare up to 4 providers


Fast cash online. Is it right for you?

Fast cash online is a type of finance for people who need quick access to additional money. These loans suit someone that: can’t wait a week to take out a personal loan from the bank; doesn’t have a credit card (or it is maxed out); is looking to borrow a small amount; is on a low income or receiving Work and Income payments or has a bad credit history.

How does a fast cash lender work?

You can apply for fast cash online in a few minutes. You need your personal details; information regarding your income and employment (or Work and Income payments) and the last 90 days of your banking history, which the loan provider can usually access securely using your Internet bank logins.

After verifying your details, the lender notifies you for how much you qualify; the terms of the loan and how soon you can access the cash. With many cash lenders, they will transfer your funds straight into your bank account within a few hours.

What should you check before applying?

There is a wide range of lenders that offer these loans, which gives you more options when it comes to finding the right lender. However, you do need to compare your options and avoid less reputable lenders. Here are some points to bear in mind when you compare lenders offering online cash loans:

    • Compare the loan term and amount.
      The fast loans that online lenders provide are usually for smaller amounts, say under $1,500. Although some lenders may offer up to $5,000 or more, depending on the type of loan you require. The term of these loans can be quite short, and with specific providers, it is a minimum of two days.
    • Compare the interest rate on offer.
      When it comes to the interest rate, make sure you compare your choices and that it is is competitive.
    • Compare the fees the loan provider charge.
      Fast online cash loans come with fees, so take a look at the charges before you apply and see how much it will cost. The lenders should outline the cost of the loan clearly in its product disclosure statement (PDS).
    • Make sure you understand the repayment terms.
      The repayment terms the lender provides can severely impact your ability to repay the loan, so you want to ensure the lender allows you to pay it in a way that suits your budget. Some small lenders send SMS updates to remind you about repayment dates, but all lenders should set out these out these dates in your loan contract.
    • Research the lender with whom you wish to apply.
      It can seem harder to judge an online lender’s reputation than lenders who have physical branches, but it’s still an important point to consider, and there are a few ways to determine your lender’s reputation. Take a look at some third-party customer reviews (if they’re available), see how easy they are to contact and how upfront they are with information regarding fees and charges.

So, is this a cash advance?

The term “cash advance” is generally for money withdrawn on a credit card, not taken from a payday lender. However, some payday loan brands have taken to using this phrase when transferring money to the borrower.

It’s important to understand the difference between the two. Cash advances (eg from a credit card), instantly attract interest and usually don’t have to be paid back within a specific timeframe. Cash loans are typically taken over a set period (generally until the next payday) and don’t accrue such high interest.

The good and the not so good of receiving fast cash online

The good
  • You get convenience.
    Fast cash loans provide a convenient option for people looking for finance, with many providers able to offer an online application, instant approval and automatic direct debits for repayments.
  • A fast turn-around time.
    As the name suggests, fast cash online can offer you a quick turn-around time for your loan, with some lenders able to transfer the loan amount within the hour or the next business day.
  • Relatively easy online application process.
    The way the lenders operate online makes the application process quick and simple.
The not so good
  • The risk factor.
    These loans do involve a certain amount of risk, with disreputable lenders preying on borrowers.
  • The cost of credit is higher.
    Fast online loans come with a substantially higher interest rate, which can negate some of the loan’s benefits.

Samantha needs some help to get a new job

Samantha has just dropped her kids at school when she gets the call. She has an interview for one of the jobs she applied for. The interview is on Saturday, meaning she will need a babysitter for her kids, and will also need petrol for the car, as it is a fair drive. Samantha starts to worry because her bank account balance is extremely low and her Work and Income payment doesn’t come through until the following Monday.

The babysitter will cost $100 for the day, plus $40 expenses for the kids and she also needs about $50 for petrol. Samantha looks at her choices for a $200 cash loan. It is Thursday, so she needs the money in her account by tomorrow. Comparing her options online, Samantha sees she is eligible with a couple of lenders, so she chooses one and receives a response a few minutes after submitting her application.

As Samantha receives fortnightly Work and Income payments, her loan repayment is due in full with her next payment in two weeks, and she will owe a total of $248.

“I want to apply. Is there anything I should avoid?”

  • Lenders who don’t give you sufficient time to repay. Repayment terms vary, so make sure you choose one that will give you sufficient time to repay. However, you can usually repay a loan early without penalty.
  • Paying the loan late. To avoid hefty fees such as default fees; late payment letter send-out costs and collection fees, budget to repay your loan on time.

Questions you may have about fast cash online

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