What is a Fast Payday Loan?
A payday loan is a personal loan that can help bridge the gap until next payday. Sometimes it’s also called a payday advance.
As the name suggests, in order to pre-qualify for a payday loan, you need to be working and earning at least $350/week (after tax) for our ‘On The Go’, ‘Jump Start’ and ‘Active’ loans or at least $800/week (after tax) for our ‘Loan Plus’ loans*. This needs to be direct-deposited into your own NZ bank account.
Here at Cashburst, our loan amounts usually vary from $100 – $10,000*:
‘On The Go’ from $100 – $1,000.
‘Jump Start’ from $1,000 – $3,000.
‘Active’ from $3,000 – $5,000.
‘Loan Plus’ from $5,000 – $10,000*.
They are repaid on the next payday or over a number of instalments by being direct-debited from your bank account.
*Available solely to our Returning clients, on an invitation-only basis and are still subject to standard eligibility, lending and affordability criteria.
Who uses payday loans?
Many of us have been in a situation when we have needed a little extra money to keep us going until next payday. In such times of need, getting a payday loan can be an easy and convenient instant solution for anyone who needs cash for a few days, weeks or months.
We have already helped hundreds of working Kiwis sort out their cash emergencies by lending small amounts of money until their next payday/s.
Such loans can be a great financial instrument for getting instant cash for emergencies.