Cash Till Payday offers short term loans in as little as 30 minutes, helping you cover your expenses until your next payday.
New Zealand owned and operated Cash Till Payday offers Kiwi’s three types of loans: short term loans, mid term loans and long term loans.
Cash Till Payday aims to provide straightforward and quick loans, and will assess your application within an hour. Loans are even available for those with a bad credit score as short term and mid term loan applications are assessed based on your current ability to repay them, not on your past credit issues. Nevertheless, if you have a record of bankruptcy within the last 6 months, your application will be declined.
A 30-minute fast payment is available for short term loans during business hours for an additional fee of $17.50. Approved applicants for mid term, long term and after-hours short term loans can expect their cash to be deposited overnight.
finder does not currently have access to this short term loan provider. Please review the product details, application criteria and terms and conditions on the provider website if you are considering applying for this product.
Types of loans from Cash Till Payday
Cash Till Payday offers three different loan types, depending on the amount you wish to borrow.
Short term loans
- $100-$1,000 for up to 42 days
- Must earn at least $400 per week after tax
- For those needing temporary cash between paydays
- Not a long-term financial solution
Mid term loans
- $1,000-$3,000 for 3-12 months
- Must earn at least $400 per week after tax
- Can be used for car repairs, unexpected medical bills or to pay off a more expensive loan
Long term loans
- $5,000-$10,000 for 12-36 months
- Must earn at least $800 per week after tax
- Can be used for car purchases, holidays, unexpected renovations or to consolidate higher interest loans
- Available only to eligible returning clients
Features of a Cash Till Payday short term loan
- 30-minute fast pay. For a fee of $17.50, approved short term loan applicants can receive their money in as little as 30 minutes. Keep in mind, bank processing times vary and a few banks do not support same day fast payments at all.
- Free overnight payment. If you apply after hours or choose not to pay the fee for fast pay, you are guaranteed to receive your payment overnight for free.
- Available to those with poor credit. Past credit issues will not disqualify you from being eligible for a short term loan.
- Applications approved within one hour. Cash Till Payday aims to respond to all applications received during business hours within one hour of receiving all required documents.
- Low minimum amount. You can borrow as little as $100 and pay it back as soon as the next day.
- Ability to make unlimited additional repayments. You can pay your loan as soon as you are able, Cash Till Payday does not charge a fee for making additional payments.
- Flexible loan terms. Loans range from $100-$10,000 and can be repaid between one day and three years, depending on the amount, giving you the flexibility to tailor a loan to suit your needs.
How much will it cost you to borrow from Cash Till Payday?
Cash Till Payday collects loan repayments based on legal requirements. The lender will contact you in case of any missed payments. Keep in mind, repaying your loan on time may positively affect your credit score and late or missed payments may negatively affect your credit score. The specific terms of your loan including interest rates, costs and fees will be specified in your loan agreement.
Short Term Loans
- Approximate daily interest rates from 1.40% to 1.90%
- Approximate annual interest rates from 511% to 693.5%
- $30 establishment fee for new customers or $15 to $20 for returning customers
- Default annual interest of 104% for any overdue amount
Mid Term Loans
- Approximate daily interest rates from 0.68% to 0.90%
- Approximate annual interest rates from 251.50% to 328.50%
- Establishment fee of $50
- Monthly administration fee of $5
- Default annual interest of 25% for any overdue amount
Long Term Loans
- Approximate daily interest rates of 0.13%
- Approximate annual interest rates of 49.95%
- Can only be taken out by eligible returning customers
- Can only be applied for by invitation from Cashburst
- Establishment fee of $95
- Monthly administration fee of $10
- Default annual interest of 10% for any overdue amount
Additional fees may include:
- Fast payment fee – $17.50 for ‘Short Term’ loans
- Loan change fee – from $10 to $40 depending on the loan type
- Document fee – $7 per paper copy requested
- Dishonour fee – $25 per missed payment
- Reminder letter fee – $7 per letter
- Wage assignment fee – $30 per lodged request
- Credit agency fee – $20
- Collection agency fee – up to $75
- Optional repayment waiver fee – $145 for ‘Mid Term’ loans and $300 for ‘Long Term’ loans
Are Cash Till Payday loans safe?
Cash Till Payday is a registered Financial Services Provider (no. FSP298566). The lender claims to have complete transparency when it comes to their loans by providing all information regarding fees and repayment upfront. Cash Till Payday ensures the safety of online bank verification through data encryption.
How to apply for a short term loan from Cash Till Payday
Applying involves the following steps:
- Fill out an application form online.
- Receive a mobile verification code.
- Email three of your latest bank statements, proof of address, valid photo ID and a selfie.
- Wait up to one hour for your application to be assessed.
- If approved, cash is transferred directly into your bank account in as little as 30 minutes.
In order to be eligible for a Cash Till Payday short term loan, you must meet the following criteria:
- Be at least 18 years old and a NZ citizen or resident.
- Have been permanently employed with the same employer for at least three months.
- Earn at least $400 a week after tax.
- Not be currently bankrupt.
- Have access to the Internet and a mobile phone.
Frequently asked questions
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