The best loans like Cigno would be assumed to be providing the best similar services. Cigno is one of the most reputable Australian direct money companies in the country providing loans ranging from $100 to $1,000. It is characterized by a short application process, with a quick approval rate, and is open to diverse applicants.
Cigno charges 5% of the loan amount on the same day you get funded, and the loan must be repaid within 62 days, with the first installment becoming due in the first 20 days of the loan disbursement. In this article, we will explore some of the loans like Cigno
Top 6 Loans Like Cigno
Here are the top loans like Cigno that are reliable and fast.
Nimble is one of Australia’s most popular loan providers that is respected for its versatility, even though it is not as fast as Fundo and Perfect Payday.
Nimble offers diverse categories of loans, which include car loans, small cash loans, personal loans, and medium cash loans.
The Nimble small cash loans amount from $300 to $2,000 for a repayment term of 62 days to 9 months, depending on the amount borrowed. It attracts an establishment fee of 20% and a 4% monthly fee.
Nimble offers car loans ranging from $5,000 to $50,000 for a repayment duration of 6 to 84 months, an establishment fee of $195 to $495, and a 6.99 to 27.99% APR.
Nimble’s personal loans are between $5,000 to $25,000. The loan comes with a $195 to $250 establishment fee for 8.99% to 29.99% APR. The repayment duration of Nimble’s personal loans is 6 to 48 months.
Lastly, Nimble medium cash loans range from $2,050 to $5,000 for a loan term of 62 days to 22 months for an establishment fee of $400 and a 47.62% APR.
The annoying thing about the Nimble app is that it is cluttered with too much going on in the layout. To apply and get approved for Nimble’s loans, you must not receive more than 50% of your salary from Centrelink.
2. Perfect Payday Fundo
Perfect Payday is one of the top loans like Cigno that offers direct money without you stressing yourself. With Perfect Payday, you can acquire loans ranging from $300 to $10,000 within a repayment term of 12 months. The repayment is paid in installments; it can be weekly, fortnightly, or monthly – depending on what works best for you.
The application process for Perfect Payday is fast. If you submit your application before 3 pm on a working day, you can get funded the same day once it gets approved. If approved after 3 pm on a working day or during the weekend, t will be paid the next business day.
Fundo is an excellent loan like Cingo that offers small loans from $300 to $2,000 for a loan term of 5 to 20 weeks. Fundo offers one of the most straightforward and stress-free, super easy applications. Their loan disbursement is speedy, where you get funded immediately after your loan gets approved.
Fundo small loans are fee-based and are without an annual percentage rate. The loan attracts an establishment fee of 20% and a 4% monthly fee, similar to CashnGo.
You must create an account on the Fundo website before applying for a loan. You will be using your phone number to log into your account. One con of this app is that the layout is cluttered with the “apply now” spread everywhere. This can be pretty annoying at times.
Another loan like Cigno on our list is CashnGo. CashnGo is known for its most transparent and simplest application, open to anyone with a regular income.
CashnGo offers small direct loans ranging from $300 to $2,000 for 2 to 4 months loan terms and a turnaround time of 30 minutes or less. Applications can be made at any time during the week. It is entirely online, and you can visit any of their Self Service Kiosks, which are spread across Australia, for help or further inquiries.
When borrowing from CashnGo, an establishment fee of 20% is asked on the loan. Also, the loan attracts a monthly fee of 4%. For instance, if you apply for a loan of $2000 over two months, the total amount to be repaid is $2,560 ($2000 + $400 establishment fee + 160 monthly fees)
CashnGo offers a loan calculator where your borrowed amount, fees, and total repayment are calculated and displayed.
Nifty is another reliable loan like Cigno that offers quick loans with a fast application process that lasts only for minutes. It is one of the fastest loan providers in Australia. The estimate has shown that 70% of Nifty’s users receive their funds immediately after approval. If you don’t get disbursed within seconds, you will primarily get funded within 50 minutes during business hours.
Nifty offers loans from $300 to $10,000. Note that loan amounts from $5,000 are secured, meaning you must submit collateral. Nifty recommends you use your car as collateral.
The loan term spans 6 to 12 months and can be paid in installments weekly, fortnightly, or monthly.
Unlike Nimble, Nifty has a well-organized layout that makes navigating easy.
6. Cash Train
Cash Train is one of the most reliable loans like Cigno, but it isn’t as popular as the other loan apps on this list. Cash Train offers both quick cash loans and personal loans. Cash loans are up to $2,000, and personal loans are $10,000. Cash Train considers purposes before approval, which Centrelink users and borrowers can assess with bad credit. Loan terms span 3 to 12 months for a quick cash loan and 3 to 24 months for personal loans.
Cash Train doesn’t demand many criteria. You have to be a permanent resident of Australia and above 18 years. You can apply online or through any local branch around Australia.
Is Cigno Loans a direct lender?
No, Cigno is not a direct lender. It is a loan platform that connects customers to BHF Solutions for their loan needs.
What happens if I default on a Cigno Loan?
A list of charges may be applied if you default on a Cigno loan. The charges that will be applied to you depend on the nature of your default.
What is the maximum I can borrow through Cigno Loans?
Cigno Loans offers a maximum loan amount of $1,000. It doesn’t offer large dollar loans, making it unfit for long financial solutions.
The above-stated loans, like Cigno, are the best in the market. Each has peculiarities that stand it out. Some offer loan quick cash, while others offer both quick cash and personal loans, with some even offering car loans.
It is advised to read the loan terms carefully before applying for it to avoid any confusion later in the future.