Borrow up to $5,000 from a lender that looks beyond your credit history. Find out about applying with Fair Go Finance.
If you’re in need of a short-term financing solution but your credit history is less-than-perfect, you can look to Fair Go Finance to consider you for a loan. It provides personal loans for borrowers with both good and bad credit history and you can borrow up to $5,000. Apply for as much as you need and have up to 2 year(s) to repay it – find out if you’re eligible below.
|Min Loan Amount||$500|
|Max. Loan Amount||$5,000|
|Initial Maximum Loan Amount||$5,000|
|Loan Term||3-24 months|
|Turnaround Time||Within 24 hours|
|Costs||For $500 - $2,000, establishment fee of 20% of loan amount + 4% of loan amount each month and for above $2,250 rates from 29.90% p.a.|
|Requirements||18 years old, a permanent Australian resident and in regular paid employment|
|Available to Centrelink borrowers||No|
How does a personal loan from Fair Go Finance work?
You can apply for between $500 and $5,000, depending on what you’re looking to finance and what repayments you can afford. The application takes about five minutes to complete and you can receive your loan 24 hours after approval.
Fair Go Finance will direct debit repayments on the agreed upon dates until your loan is repaid in full, but you can repay your loan earlier without penalty. Subsequent loans applied for as a repeat borrower enjoy a speedier application process.
What features come with a Fair Go Finance personal loan?
Taking out a small personal loan (below $5,000) with Fair Go Finance gives you access to the following features:
- Choice of loan amount. Borrow just as much as you need. Loan amounts between $500 and $5,000 are available.
- Fixed repayments. Easy budgeting comes from knowing what your repayments are every month – you’ll have this with a fixed rate for the term of the loan.
- No early repayment penalty. If you find you can repay the loan early, you’re able to do so without being charged a penalty.
- Use the loan amount for anything (legal). It’s your choice how you use your loan amount. You could consolidate existing debts, pay for home renovations or a rental bond or even use the loan to buy new furniture.
- Easy repeat borrowing. Applying for a second loan sees a speedier application through Fair Go Finance’s ‘Express Service’. When it comes to your third loan and any loan after that, you can enjoy a lower application fee and reduced interest rate.
The costs of the loan
The actual cost of your loan depends on how much you borrow and will be outlined in your loan contract when you apply. The following costs will apply:
- Interest rate. 29.2% p.a.
- Establishment fee. Typical establishment fee is between $400-$695
- Monthly fee. $5
Ready to apply?
You can click ‘Go to Site’ to get the process started. The following eligibility criteria will apply:
- Age. You need to be over the age of 18.
- Employment. If you’re self-employed you need to have been in that position for 12 months, if you are casual or a contractor you need to have been employed for six months.
- Centrelink. Your income cannot solely be from Centrelink.
- Income. You need to earn at least $500 per week.
If you meet the above criteria you are eligible to apply. You’ll need to submit your application online, and to do so you’ll need the following details:
- Identification documents such as your passport or driver's licence
- Two months of bank statements showing your name and address
- A recent payslip
- Your Internet banking details if you’re providing your statements through Bank Vision
Fair Go Finance is an option for you if you’re looking for a convenient personal loan. You can borrow up to $5,000 even if you have bad credit and have up to 2 year(s) to repay it. While this is a competitive offer, it’s important to compare it with other loans to make sure it’s the right one for you.