Lender Review: Cash Train



Product Highlights

  • Loans from $200 to $10,000
  • Over 3 to 24 months

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Company Brief

Cash Train is a trusted Australian lending company and a leading online fast cash loans provider. It goes by the trading name of Online Loans Pty Ltd. It was founded in 2009. Cash Train is fully regulated and governed by the National Consumer Credit Protection Act (2009), the Privacy Act (1998) and all other applicable laws.

Cash Train is a registered member of the Australian Financial Complaints Authority (AFCA), the National Financial Services Federation (NFSF) and the Financier’s Association of Australia (FAA). Cash Train is also accredited by ASIC as an Australian Credit Licence Holder. Their ASIC Credit Licence Number is 389-189. The company’s ABN is 62 102 154 781 and was registered in 2002.

Cash Train is also registered under the National Credit Providers Association (NCPA). The National Credit Providers Association (NCPA) is the peak national industry body representing the Small Amount Consumer Lending Industry in Australia. Cash Train’s corporate office is located at Level 4, 25 Prowse St, West Perth, Australia and opens from 7 AM-3 PM.

Fast Cash Loans: $200 – $2,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Fast Cash Loan 4% Fixed and monthly $200 $2,000 1 business day 3 months 12 months

Cash Train offers fast cash loans ranging from $200 to $2,000. Cash Train charges 20% of the loan as a loan establishment fee and a 4% monthly fee.


You borrow $1,000 for a term of 6 months. Based on Cash Train’s official loan table, the cost will be $440. The costs are broken down:

  • Establishment fee: $200
  • Monthly fee: $40 * 6 = 240

The total repayment cost you will have to pay will be $1,440.

Loan payments will have to be made through a monthly payments system

Personal Loans: $2,001 – $10,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Minimum Loan Term Maximum Loan Term
Personal Loan 48% Fixed and annual $2,001 $10,000 1 business day  20 months 24 months

For personal loans, the minimum amount you can borrow is $2,001 and the maximum amount is $10,000. The repayment period ranges from 12-24 months.

The costs of a Personal Loan from Cash Train include an establishment fee and an annual interest fee. Cash Train Personal Loans up to $10,000 have a $400 establishment fee and an annual interest fee of up to 48%.


You take out a personal loan of $2,500 for 20 months. According to Cash Train’s official loan cost table, the costs for this loan will total $1,525. From there, your total repayment amount will amount to $4,025.

Note: Cash Train has not mentioned a minimum APR on their website; only a maximum of 48%. There is no early repayment fee if borrowers opt to pay the loan in full ahead of time. Default fees and other fees not mentioned in this article are also not included in Cash Train’s site. Borrowers need to enquire directly from Cash Train’s customer service to know other potential fees. – All information here are accurate as of November 2023.

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Application Process

Cash train has an online application process. A responsible lender will have requirements to determine if you are eligible and will help determine the lending decision. When completing the online application, you will need to meet the following minimum requirements to be considered for a loan:

  • At least aged 18 years old,
  • Own an active bank account,
  • In full-time employment
  • Earn a minimum of $1,200 per month
  • Have a credit history
  • You must be an Australian resident.

Cash Train will likely request details of your employment and your latest three months of bank statement.

If you are receiving Centrelink funds, you are still able to apply for a loan through Cash Train. As part of the responsible lending obligations, you will need to provide your bank statements so Cash Train can verify your proof of income from Centrelink.

In order to be a trusted lender considering the borrower’s income helps the lender assess in the applications stage, whether they will be able to make the loan repayments.

Loan decisions are typically instant but may take longer if Cash Train need to follow up with you directly.

Notable Loan Product Features

Loans with Cash Train have a fast approval and application process. Funds are sent within one business day of loans being approved. The time to receive your funds will depend on who you bank with as some take longer than others.  Funds can be sent directly to your assigned bank account or collected from a local branch.

Repayments are taken directly via direct debit on the agreed-upon date.

The Company: Cash Train

There are some positives and negatives for prospective borrowers to consider before using Cash Train as an online lender. As part of the reviewing process for this article,  customer feedback and common questions answered on the company website were considered for the overall assessment.



  • Easy application
  • Fast approval process
  • Same-day funding is offered
  • Fees and contact details are easy to find.


  • Negative reviews touch upon slow customer service

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