We’re here to help customers make the right loan choice. There are many different and confusing loan names used by different lenders, so we’d like to help you by clearing up the confusion.
An unsecured loan is when there is no requirement for you (the borrower) to provide any property, collateral or security for a loan.
With a secured loan, if the borrower defaults or the loan is not paid back, the lender has a legal right to take possession of the secured assets.
An unsecured loan is the opposite of a secured loan; the borrower does not need to use any of their assets as security. This means that unsecured loans are a higher risk for the lender. All loans at Cash Converters are unsecured. You can apply for an unsecured cash loan online or in-store.
It’s a simple process to get an unsecured loan from Cash Converters.
The loan repayment period is dependent upon the amount you borrow. All customers must provide ID and recent bank statements.
The amount that can be borrowed for an unsecured loan varies based on the borrower’s income and other expenses which they may have. At Cash Converters, an unsecured personal loan is available in variable amounts from $600 - $2000 and an unsecured cash advance starts from $100.