Short term cash loans $500–$10,000

Short term cash loans are repaid over weeks or months rather than years. They're designed for one-off costs you can clear reasonably soon, like a car service, a bond top-up, a school excursion or a bill that came in higher than expected.

• $500 to $2,000: small amount credit contracts, with terms of 16 days to 12 months
• $2,001 to $5,000: medium amount credit contracts, with terms of 16 days to 2 years
• $5,001 to $10,000: usually personal loans, with longer terms set by the lender

The term you're offered depends on the lender, the amount and what you can afford.

Shorter term

Fewer repayments and usually less in total fees, but each repayment is bigger.

Longer term

Smaller repayments that are easier to fit in your budget, but you may pay more overall.

Compare the lender's repayment schedule and total cost before you decide.

A credit card can work out cheaper if you clear the balance before interest kicks in. Buy now pay later suits purchases at participating stores but usually can't pay bills. A short term cash loan pays cash into your account so you can pay anyone, but compare the costs first. If you'd like repayments timed to your wages, see payday loans.

Before you apply, list your pay dates for the next few months and pencil in each repayment. If the numbers only work when nothing else goes wrong, consider a smaller amount or a longer term so a surprise bill doesn't leave you short. A calendar reminder a day or two before each repayment can help too.