Need cash? Apply online 24 hours a day, anywhere in Australia.
Our contact details
Phone: 1300 327 828
Fax: 07 5591 7616
Email:
paydayloan@
cashdoctors.com.au
Postal Address:
PO Box 3592
Australia Fair QLD 4215
Street Address:
Suite 203, 40 Nerang St
Southport QLD 4215
Low Rate Personal Loan
Access to cash within an hour, a short online application form and a loan amount tailored exactly to what you can afford - these should really be the basics of a new school personal loan. Am I right?
There's no question, the banks are behind in small loans. When other businesses use the term "personal" in relation to a product, we expect them to cater for our individual needs. But long application forms that take an evening to fill out and processing times of 2 days doesn't really make the cut for a personal service - it just seems outdated and slow.
Think about it - you're being forced to take out a minimum loan amount of several thousand dollars on traditional personal loans, but do you really need that much? By the end of your repayment period, which is likely to run for a couple of years, you'll probably have forgotten what you needed the money for in the first place.
More people these days prefer a cash advance as a more personalized financial product than the traditional unsecured personal loan. You get exactly what you need and not an extra slab of money on top which is just too easy and tempting to use.
Why A Cash Advance Is A Smarter Option...
| COMPARE | Cash Doctors Cash Advance | Credit Card and Personal Loans |
| Ease of application | No documents. All online. Instant answer. Apply in minutes. | Lengthy documents and can take up to several days to arrange/be approved. |
| Amount. Do you really need that much? | If you need less than $600 you can get exactly what you need. You don’t have to borrow more than you require. | You often get far more than you really need, which can entice you into unnecessary spending. This equates to higher levels of interest. |
| Discipline - Repayment requirements | You are required to repay your scheduled repayment amount/s on your next payday/s within a maximum of 45 days. Easy to remain disciplined. | It’s too easy to repay the minimum payment for a credit card and delay paying the principal. Personal loans have set repayment times and these can run for years. Hard to remain disciplined. |
| Period of loan - How long are you in debt? | Repaid on your next payday or within a maximum of 45 days. You have repaid the cash advance in full, you’ve solved your problem and you can get on with your life. There is no long-term debt. | Credit cards have no set term and the debt can go on and on for a very long time. People are tempted only to pay the minimum amount. There is no closure. Personal loans are a long term commitment for years. |
| Subsequent cash advances | Paid in seconds straight onto your Cash Advance Cash Doctors Card. Available only if you have paid your previous cash advance balance in full i.e. only if you can afford it. | Personal loan - Need to reapply each time. Credit Card - Constant 'maxxing out' of credit card limit because you are able to utilise even though you haven’t paid the previous balance ..i.e even though you can’t afford it. |
| Costs | When expressed unfairly as an APR a Cash Doctors loan looks expensive. But reasonable for a small short term loan - not unlike a taxi v an air flight. Cost can be from $50 to $200 depending on amount and term. How much does it cost? | Because you often end up with more funds for longer than you need with a personal loan, or you maintain a high balance owing on your credit card, you can end up repaying thousands in interest over time. |
Credit card companies tempt you with low interest rates, honeymoon transfer balance and big credit limits.
Most people don't trust themselves with a credit card either - that's understandable. It's the same scenario, you have access to more credit than you need and every time you walk past a shop window your self-discipline is being tested. It's tested again at repayment time, when it's too easy to just pay the minimum repayment and not more.
A credit card is supposed to be a backup overdraft that you should use for purchases of varying size, then fully repay - nursing a balance for a few months at a time. No more. The problem is that nearly no one actually does this. Before you know it you'll be paying off on a $5000 debt for years - paying thousands in interest on your original purchases.
A cash advance is a 'quick in - quick out' solution with a transparent flat rate system which makes it easy to control. There's no long term interest drip factor to be wary of and repayments are made in 1 to 3 instalments running for a maximum of 45 days. It's not a long term thing; repay it and get on with your life.
Traditional personal loan rates are significantly lower than cash advance rates, but with a personal loan you have to take establishment fees, monthly administration fees and early repayments fees into account, these fees don't apply with a cash advance. Getting a cash advance is like getting a taxi - it costs more, but it's fast, convenient and just for short term, occasional use.
If you're after long term borrowing or larger amounts then traditional personal loans are great - ie. a holiday away, a new laptop, a car etc. but if you're after a $100 - $600 fast personal loan, you should consider a cash advance from cash doctors. It might be the best personal loan for you.
JB, New South Wales
"I have been using this service for over a year now and have never had even 1 cause for complaint. I don't think I have ever used a product/service that has continued to perform at such a high standard. When I have occasion to call the hotline I have always received fantastic customer service."TF, Victoria
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