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Fair Go Finance offers small loan amounts ranging from $500 up to $2,000. Customers can also pay off the loan early without penalty. Find out if this loan is right for you by reading the details below.
$2,000
Maximum loan amount
1 business day
Turnaround time
$354
Fortnightly repayment
for $1,500 loan
3-12 months
Term of loan
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Product Name | Fair Go Finance Small Loan |
---|---|
Minimum loan amount | $500 |
Maximum loan amount | $2,000 |
Arrears Fee | $35 |
Loan term | 3-12 months |
Turnaround time | 1 business day |
Costs | Establishment fee 20% of loan amount + monthly fee 4% |
Available to Centrelink Borrowers? | No |
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
The Fair Go Finance Small Loan offers borrowing amounts between $500 and $2,000. No assets are required as security for the loan and no interest is charged on the amount borrowed. However, this loan charges an establishment fee and a monthly fee. The Fair Go Finance Small Loan offers fixed repayments in accordance with the frequency of your income.
The amount you will be charged for these fees varies depending on the amount you borrow. For example, borrowing $2,000 for a 6-month term means you will have an establishment fee of $200 and a monthly fee of $40. Meanwhile, borrowing $500 for the same period results in a $50 establishment fee and a monthly fee of $10. This is an expensive way to borrow money and there will be additional fees if you are unable to make a repayment on time. Before you take a Fair Go Finance Small Loan, always make sure that you will be able to afford each of the repayments.
The cost of your loan will be outlined in your loan contract when you apply, so read this closely to determine whether this loan is affordable for you.
If you’ve compared your finance options and decided that the Fair Go Finance Small Loan is your preferred option, you can apply online. Before you get started, check if you meet the eligibility criteria and have the necessary information to complete the application:
You may only apply if you meet the following personal loan eligibility criteria:
Applicants must provide the following information:
Applicants can track their application through the customer portal. If your application is approved, the funds can be transferred to you within 30 minutes.
A Fair Go Finance Small Loan might help if you need funds to overcome a short-term financial problem. However, make sure you carefully consider your borrowing needs and compare personal loan options before deciding whether it’s right for you.