Cash Loan Calculator

Fast Cash Calculator FAQs

• What is the purpose of this cash loan calculator?

  The cash loan calculator is designed to give you a general estimate of your potential loan repayments based on the loan amount, interest rate, and term you select. It helps you understand what to expect before applying for a cash loan.

   

• What is the range of loan amounts I can calculate?

  You can calculate repayments for small loan amounts from $2,000 to $60,000 for personal loans. For smaller amounts, under $10,000, we may refer your application to one of our lending partners directly.

• Does the calculator show the total cost of the loan?

  The calculator provides an estimate of the total cost by showing your potential repayments over the selected loan term. However, this does not include additional fees or charges that may apply.

• Does the calculator consider additional fees or charges?

  No, the calculator provides a repayment estimate based on the loan amount and interest rate you select. Fees such as establishment costs or early repayment fees are not included in the calculation.

• Can I change the interest rate?

  Yes, you can adjust the interest rate in the calculator to see how it affects your repayments. Keep in mind that your actual rate will depend on your personal financial circumstances.

• Is this calculator suitable for other loan types?

  This calculator is specifically designed for cash loans and personal loans. For other types of finance, such as car loans or home loans, please refer to our loan calculators home page.

• Are cash loans the same as payday loans?

  No, cash loans and payday loans are not the same. While both provide access to funds, they differ significantly in terms of loan amounts, repayment terms, interest rates, and overall purpose:

  • Loan Amounts:

    • Cash loans (such as personal loans) usually involve larger amounts, ranging from $10,000 to $60,000.
    • Payday loans are typically for smaller amounts, up to $2,000.

  • Repayment Terms:

    • Cash loans offer structured repayment terms, typically between 2 and 5 years for personal loans, allowing you to pay in manageable instalments over time.
    • Payday loans have short repayment periods, often requiring the full amount to be repaid within a few months or on your next payday.

  • Interest Rates and Fees:

    • Cash loans generally have lower interest rates compared to payday loans and can include tailored options based on your financial circumstances.
    • Payday loans typically carry very high-interest rates and fees, making them expensive in the long term.

  • Purpose:

    • Cash loans are typically used for planned expenses, such as debt consolidation, home improvements, or medical costs, and are designed to meet medium to long-term financial needs.
    • Payday loans are marketed as quick fixes for short-term financial emergencies, such as covering bills or unexpected expenses.

  • Accessibility:

    • Cash loans often require a more thorough assessment of your financial situation, including your credit score and repayment capacity.
    • Payday loans are usually easier to access, but can lead to a cycle of debt due to their short repayment terms and high costs.

  If you're considering your options, it's important to choose a loan that suits your financial situation and repayment ability. At Rapid Finance, we specialise in helping customers find personal loan options tailored to their needs, including those with bad credit or non-standard income sources. 

• Are cash loans easy to get with bad credit?

  Getting a cash loan with bad credit can be challenging, but it’s not impossible. While traditional banks and lenders may have strict requirements, Rapid Finance specialises in helping people with bad credit find loan options tailored to their circumstances.

  We work with a panel of specialist lenders who understand that everyone’s financial situation is different and sometimes unique. Factors like your income, employment type, and recent financial behaviour can play a significant role in determining your eligibility. If you meet the basic criteria—such as earning over $700 per week, being 18 years or older, and having no recent unpaid defaults—you may qualify for a loan.

  Our team can also help you take steps to improve your credit profile over time, making it easier to access finance in the future. If you’re unsure about your options, feel free to reach out to us for a free financial assessment and personalised guidance.

• What can I use my cash loan for?

  Cash loans could be used for various purposes, including debt consolidation, home improvements, medical expenses, or any other personal needs. However, it's important to use the funds responsibly.

  Please refer to our personal loans homepage to explore your options.

• Should I check my credit score before I apply?

  Yes, it’s a good idea to check your credit score. At Rapid Finance, we offer a free credit check service that doesn’t leave a mark on your credit file. This can help you understand your financial position before applying.

• Will repaying my cash loan help improve my credit score?

  Yes, it is possible. Consistent and on-time repayments could positively impact your credit score over time. This is especially important if you’re working to rebuild your credit.