Cheap personal loans

Are you wondering why CashPal’s partnered lenders might ask you to provide your online banking details? There’s no reason to freak out – your lender will never look at your real bank account! Online banking details are usually used as a way of obtaining read-only copies of bank statements. Bank statements allow a lender to get a more realistic idea of your spending habits, income and pre-existing financial commitments.

If you’re worried about security there is no need to be! Our partner lenders use the latest in safe banking technology to ensure your information is always encrypted – that means no one will ever be able to see your passwords or personal information. If you’ve got questions we’re here to answer them, all you need to do is get in touch with the CashPal team!

‘Will a possible lender conduct an employment check?’ When you apply for a personal loan with CashPal we can’t say for sure whether your lender will conduct an employment check, however, in most cases they will. An employment check is a normal part of a loan assessment process – so, there is nothing to be concerned about.

CashPal only partners with responsible and reliable lenders. That means they will always be professional and courteous when conducting an employment check. Your privacy and security is a top priority, that means no personal or private information will ever be disclosed to your employer (including the reason why you are applying for a personal loan).

If you’re receiving Centrelink or Government benefits then you are still able to apply for a personal loan, however, approval can never be guaranteed. When you submit an application with CashPal it is important you include your MyGov details so that our team can attempt to find you a compatible lender. Most of the time, our partner lenders will need to take a look at what percentage of your income is derived from Centrelink.

Due to the fact that every financial situation is different, unfortunately, we can not provide you with a straight ‘yes’ or ‘no’ answer. So, if you’ve been googling ‘cheap loans on benefits’ the CashPal team encourages Centrelink recipients to still submit an application – we will do our best to match you with a compatible lender.

Are you wondering whether or not a possible lender will check your credit score? Every lender is different, however, most will conduct a credit score check when you apply for a personal loan. CashPal is proud to partner with responsible lenders. What is responsible lending? Basically, responsible lending means we do the right thing by our applicants. Responsible online lenders will conduct credit score checks in order to ensure a personal loan is viable in each applicant’s current financial situation.

At CashPal, our lending partners want to promote financial health and wellbeing, we do not want to get you into debt! That being said, our lenders will look at factors like employment status, bank statements and income in order to get a better grasp of your financial situation. Basically, our lenders want to know whether or not you will be able to comfortably pay off the loan – that is the most important part!