Cashify personal loan, Cashify loan interest rate, Cashify loans contact number, how to apply, eligibility criteria & requirements
When we were thinking about loans in early times, only banks will come to mind from where you could get a loan. getting a loan from banks is still time-consuming if you compare it to the modern and digital online platforms. through this article we are going to do Cashify Loans Reviews | How to Apply for an Instant Personal Loan With Cashify, one of the online lenders.
| Loan App Name | Cashify |
| Loan Amount | $2000 to $50000 |
| Loan Tenure | 3 months to 84 months |
| Interest Rate | 8.5% p.a. to 48% p.a. |
| Establishment Fee | $370 and $498 depending on the loan type |
Getting a loan is becoming easy and easy day by day. as the new technology comes into place it will even become easier in the future.
This review will contain Cashify features, requirements, Interest rates, pros & cons, etc. let’s start with the description of Cashify.
Contents
What is Cashify?
Cashify is an online leading private finance lender providing that provides loans to the citizens of Australia.
It only accepts online loan applications as it is 100%, online lender. Its application process is fast and flexible.
Cashify head office is located in Sydney, Australia.
Types of Loans Cashify Offers
- Personal Loans
- Mortgage Loans
- Car Loan
- Education Loan
- Emergency Loan
There are various types of loans offered by Cashify, however, we will discuss here Personal loans which is the most common loan an individual chooses.
Cashify Personal Loans
Personal loans are unsecured loans in which the bank provides you money on your creditworthiness. Since it is unsecured you do not need to put anything collateral.
It also requires very few documents and you can get the loan fast as well.
You can use Cashify personal loan for debt consolidation, home improvements, booking a holiday, planning a wedding, for medical or family emergencies, etc.
Cashify also offers Personal+Plus Loans to the customer who needs the amount on the higher side. It is also referred to as a premium person loan.
Personal+Plus Loans is suitable for home improvements, weddings, debt consolidation, travel, car upgrades, medical costs & large purchases.
Since it is a personal loan, you can use it, however, your want. you can use your personal loan for any occasion.
Cashify Personal Loan Eligibility & Requirements
- Be 18 years or older.
- You must be an Australian citizen or permanent resident.
- You should have a steady source of income. you must be employeed Full Time, Part Time, Self-Employed or Casual.
- You must have an active bank account and phone number in your name.
- Centrlink should not be your main source of income.
- You should not in a debt agreement or about to enter bankruptcy.
- For a Personal+Plus Loan Minimum income should be of $50000 p.a. before tax.
Documents that you may need to apply for a loan
- Your photo ID documents such as your Australian driving license or Passport or medicare Number.
- Provide details of your current address.
- Proof of your current employment is needed.
- Details of your current and previous (if applicable) employer.
- Details of your income, assets, expenses and liabilities.
- If you are self employed you need to show most recent individual tax return and the corresponding notice of assessment from the Australian Taxation Office.
- Two of your most recent consecutive computer-generated payslips or last 3 months bank statements are required.
Cashify Personal Loan Features
- The loan process is completely online. no Paperwork.
- The loan application process quite simple ,easy and fast.
- The fund will be transferred to your bank account within 30 minutes of your loan application approval on business days.
- Cashify offers unsecured personal loans from $2000 to $5000 and Personal+Plus Loans from $5000 to $50000.
- Loan terms for Personal Loans range from 3 months to 12 months, and for Personal+Plus Loans it is 6 months to 84 months.
- Cashify Persnal loans have a fixed interest rate but Personal+Plus Loans have a personalized interest rate.
- The repayment frequency is weekly ,fortnightly and monthly.
- Cashify personal loan is having APR (Annual percentage Rate) of 48% p.a. and Personal+Plus Loan have interst rate starting from 8.5% p.a.(Comparison rate from 9.45%).
- There are no restrictions or penalties for repaying your loan early. You could save on interest or fees as well.
Cashify Personal Loan Interest Rates & Fees
- Interest rate: Cashify personal loan is having a fixed APR (Annual percentage Rate) of 48% p.a. and Personal+Plus Loans interest rate starts from 8.5% p.a.
- Establishment Fee: Cashify personal loan having the Establishment fee of $370 and Personal+Plus Loans having establishment fee of $498.
- Dishonour Fee: In case Cashify is not able to auto-debit the loan on the due date you have to pay dishonour fee of $15.
- Admin Fee: This is only for Personal+Plus Loans and you have to pay $10 per month.
- Reschedule Fee: This fee is only for Personal+Plus Loans and the charge for it is $14.
| Types of Charges or Fee | Rate or Payable Amount |
|---|---|
| Interest Rate | Cashify personal loan is having a fixed APR (Annual percentage Rate) of 48% p.a. and Personal+Plus Loans interest rate starts from 8.5% p.a. |
| Establishment Fee | Cashify personal loan having the Establishment fee of $370 & and Personal+Plus Loans having establishment fee of $498. |
| Dishonour Fee | In case Cashify is not able to auto-debit the loan on the due date you have to pay a dishonour fee of $15. |
| Admin Fee | This is only for Personal+Plus Loans and you have to pay $10 per month. |
| Reschedule Fee | This fee is only for Personal+Plus Loans and the charge for it is $14. |
How to Apply for a Cashify Instant Personal Loan?
- Visit Cashify official website , select your required amount, repayment terms , enter your first name, last name, email address and click on the button Apply Now.
- Next, fill your fill your income & employment details ,enter your bank details, proof of income, upload the mentioned documnts and submit the loan application.
- A dedicated loan assessor will review your application and you will receive an email with the decision.
- Once you are happy with the lending decission, you have to sign the loan contract.
- After signing the loan contract fund will be transferred to your bank account in 30 mins during business hours.
How Does a Cashify Instant Personal Loan Process Work?
- Apply: Complete the loan application process online by sharing basic information about your income, employment, personal details, address, bank details etc. it will take only few minutes to fill the loan application.
- Documents Review: Cashify dedicatd loan assessor team will review your loan application.
- Lending Decision: Once the application review process is completed, Cashify will process your application and provide you a lending decision quickly.
- Sign Documents: If your selected loan amount is approved, review it , accept it and sign your loan agreements.
- Get Funds: After accepting & signing the loan agreements, you will receive funds to your linked bank account via Direct deposit in 30 mins during business hours.
How Cashify Personal Loan Repayment Works?
Your repayments will be automatically deducted via direct debit from your bank account as agreed, eg. weekly repayments will be debited from your account each week at the same time.
Make sure that the money is available in your bank account before your payment is debited to avoid Dishonour Fee or NSF (Non-Sufficient Funds).
Is Cashify Legit and Safe?
Yes, Cashify is a legitimate online loan provider platform for Australians. It is a fully authorized Australian private lender operating under Australian Credit Licence #517363 issued by the Australian Securities and Investment Commission.
Protecting the customer data is one of the fundamental things for Cashify. It will not use your personal or credit-related information or disclose it to another organization unless you have given your consent or are obliged to disclose this by law.
Cashify Loans Pros & Cons
| Pros | Cons |
|---|---|
| The application process is completely online. | High-interest rates may apply if the credit score is poor or bad for large loans. |
| Money will be credited to your bank account within 30 mins. | Centrelink should not be the main source of your income. |
| Flexible Repayment options are available. | $370 is the establishment fee. |
| Centrelink benefits are available for the customers. | The loan amount is small for personal loans. |
Cashify Loans Reviews & Feedback
Trustpilot shows 34 reviews on its website out of which 88% are having excellent reviews. Overall It has a rating of 4.5 out of 5 which is excellent.
Cashify Contact Details
Cashify Customer Support Contact Number = 1300 933 053
Cashify email address = info@cashifyloans.com
Cashify Head office Address:
Suite 703, 234 George Street
Sydney NSW 2000 Australia
Cashify Opening Hours | Business Hours =
Monday to Friday = 9 am to 5 pm (AEST)
Saturday & Sunday = Closed
Conclusion
This article is about Cashify Loans Reviews | How to Apply for an Instant Personal Loan With Cashify. I hope the reviews will be useful to you in deciding the lender.
You can consider Cashify personal loans as short-term and it can be the best alternative to a payday loan. make sure to go through all the fees & charges before getting the loan from Cashify.
Read Also
- Nimble Loan Reviews | How to Apply for a Personal Loan with Nimble
- Jacaranda Finance Loan Reviews | How to Get a Personal Loan with Jacaranda
FAQs
Cashify provides Personal Loans ranging from $2000 up to $5000 and more premium Personal+Plus Loans from $5000 up to $50000.
Yes, being a responsible lender Cashify check your credit with Equifax, an Australian credit reporting body.
The credit check gives the lender an overview of your history as a borrower, helping us determine the level of risk involved as a lender.
It also helps Cashify to decide your personalized interest rate as the better your credit score, the lower your interest rates will be.
Once your loan amount is approved, the money will be transferred to your bank account instantly, if you sign the approved contract between 9 Am to 9 pm on business days. Otherwise, the loan will be processed on the next business day.
Yes, you can make extra repayments at any time, at no extra cost. use the bank transfer details mentioned in your loan contract.
For Personal Loans from $2000–$5000, you can repay between 3-12 months.
For Personal+Plus Loans from $5000–$50000, you can repay between 6-36 months.
