What’s the difference between a Cash Advance and a Personal Loan?
These are actually quite different loans. A Cash Advance is a very short term loan, repaid over a period of up to 6 week period (less than 62 days). A Personal Loans repayment period is for a higher amount, over a longer term, usually 3-6 months. Criteria for lending are also different.
How do I qualify for a Cash Advance or Personal Loan?
- You must be at least 18 years old
- You must be an Australian Citizen or Permanent Resident
- You’re required to provide 100 points of identification
- You must document a minimum period of residency of 3 months at your current address
- You must show regular employment for a minimum of 3 months or be on a Government Pension
- Your wages/salary must be paid directly into your bank account by your employer.
- You must supply proof of income in the form of bank statements for 3 months
- You must pass a credit check (Occasional defaults are OK)
I am on a pension. How much can I borrow?
SRG Finance can arrange a loan for you if you are on a pension, the amount advanced will be calculated on your personal earing and capacity to make repayments.
How long will my loan approval take?
Generally, approval can be made within 2 hours of receiving your application. (In some cases, the requirement for documentation or information may result in longer periods). An SRG Finance representative will the call you to inform you if your application was successful.
After the loan is finalised, how long does it take to get my money?
If the paperwork is completed and signed before 3PM, (excluding weekends and public holidays) your money will be transferred into your bank account the same day or overnight via electronic funds transfer. You’ll be able to withdraw your money at the latest the next business day.
How are my loan repayments made?
All loan repayments are made via direct debit from your nominated bank account on a regular schedule. If you cannot make a payment contact us ASAP and we will organise an option for you so that alternative payment arrangements can be made.
What do I do if I don’t have a Drivers Licence or Medicare Card as ID?
Easy! We also accept ATM Cards, Utility Bills, Pension Cards, Credit Cards and Club Cards as forms of ID. If unsure what you can use for your ID, call us on 1300 774 562.
I do not have access to a scanner or camera to upload my identification and bank statements via the online application page.
If you have internet banking SRG Finance can send you a link where you can enter your internet banking details and have your statement sent directly to us from your bank. If not you can call us on 1300 774 562.