Cash Doctors Payday Loan

Moneybuddy says

A very convenient short term loan solution for those seeking small amounts of cash fast. Cash Doctors is Australia's leading online short term loan provider. Cash Doctors offers a fantastic introductory fee of just 1 cent for your first payday loan with them. So if you borrow $300, you simply need to repay $300.01 on your next pay day!

The Basics

Standard Fee $45 + $30 p/wk

Max. Loan $600

Loan term Up to 6 weeks

How fast 60 mins

The cool stuff: features

Repayment method Direct Debit or EFT

Online application Yes

Phone application No

Refinancing You need to pay your last cash advance in full. Once you've done that you can apply for your next one. Once the bank confirms the payment has cleared you'll receive your funds.

Speed Your first cash advance is transferred into your nominated bank account within 60 minutes of approval during business hours. Most people have funds available within minutes of the transfer - but it may take up to 2 hours, depending on your bank

The Facts & Figures

Min. loan $100

Min. term 1 day

Max. term 42 days

Requirements -

The ugly stuff: fees

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Cash Doctors says

A Cash Doctors short term loan is the fastest way to get cash. You can get up to $400 transferred straight into your account in only 60 minutes. Use the easy online application form to apply in just a few minutes and there are no documents needed. Your first loan costs only 1 cent. It's cheap, fast and easy to get a quick cash injection when you need it the most.

Key features

Short online application
No docs needed
Cash transferred in 60 minutes
First cash advance costs 1 cent

Pros

1 cent fee for first time loan!
Fast application
Fast approval

Cons

Becoming reliant on cash advances is a very expensive form of credit

Terms & conditions

You qualify for a Cash Doctors cash advance if: - You're employed full or part time (receiving holiday and sick pay). - You've been employed for at least 3 months. - You earn a minimum of $350 per week net (after tax). For your first advance you can borrow: - $400 if paid monthly - $300 if paid fortnightly - $220 if paid weekly - After your first cash advance you may qualify for $600 - paid in seconds. Cash Doctors always takes care to lend amounts which will not lead to repayment difficulty or bad credit.