How does a loan from Financier work?
You start by submitting an online application, and you find out if your application is pending approval or declined immediately. Financier relies on the latest in technology to confirm your identification and your ability to repay, and it also does a reference check to verify your employment details.
After verification, Financier provides you with a loan contract which you have to review and accept in order to move forward. Once you do, they transfer the money into your bank account. At this point they also schedule direct debits from that same bank account so you don’t have to remember making repayments each time they’re due.
After you pay your first Financier loan in full you qualify for a Financier debit card. With this card, the next time you need a Financier loan you can expect much quicker access to approved funds.
Compare other payday loans
While we don't compare Financier Personal Loans directly, you can compare your other options using the table below:
Updated September 20th, 2019
⚠️ Warning about Borrowing
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:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
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.
Financial hardship
If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the Financial Counsellors hotline on 1800 007 007. It is open from 9:30am to 4pm, Monday to Friday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged. It's important to weigh up all your options before applying for any form of credit.
The features on offer from Financier
Knowing of the features this lender offers before applying is a good idea, so here’s what you need to know.
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Various loan amounts available. The minimum you can borrow through a Financier loan is $150 and you can borrow as much as $5,000. The first time around you cannot borrow more than $450, but once you repay the first loan you qualify for more on a step-up basis. Financier offers a tiered system for their maximum approval limits where you're able to move from one level to the next.
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Variable loan term. Financier gives you the ability to repay your loan on your next payday and you can also opt for loan terms extending up to 2 years.
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Personal loan manager. Right from the moment you apply for a Financier loan you get to work with a personal loan manager, and this person continues to remain your single point of contact from start to finish.
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Easy repeat borrowing. Once you repay your first Financier loan, applying for and getting another Financier loan is simpler and quicker. As a repeat customer the application process is much faster, as is the approval. You can even get quicker access to the money using your Financier debit card.
What does a Financier personal loan cost?
Financier gives you a clear indication of what you might end up paying in terms of fees and charges as the loan progresses through the loan’s contract, which you receive upon your application’s approval. Going through these ahead of time is important, because you then know just what to expect. The following should give you an indication of the costs associated with a Financier loan.
- Administration fee for direct debits: $1.10 (one-time direct debit set up fee)
- Transaction fee for direct debits: $0.88 (charged each time)
- Credit card fee: Different for Visa/Mastercard and AMEX/Diners (applicable for payments that come from credit card accounts)
- SMS payment reminder: $0.28 (optional service, charged for each text sent to your phone 24 hours before the scheduled debit)
- Direct debit dishonour fee: $9.90 (charged by third party, not by Financier)
Discover the benefits of a Financier Card
When you successfully repay your first Financier loan, Financier issues you a Visa debit card that gives you instant access to money when you need it next. You can use this card at any ATM or EFTPOS terminal across Australia, just like you’d use any other debit card.
This card comes linked to a personalised account using which you can check your account balance, go through transaction history, make changes to your personal details, transfer funds to your Financier card, and access BPAY.
How to apply for a loan from Financier
To apply for a Financier loan you have to visit the Financier website, but make sure you meet the eligibility criteria (listed below) before you apply:
- You are a permanent resident of Australia
- You have steady employment and earn at least $500 each week
- Your wage goes into your bank account directly
- Your bank account is at least four months old
- You don’t have bankruptcy, judgements, or defaults on your credit file
- Your bank statements for the last two months don’t show more than two dishonoured or reversed payments
Completing the application requires that you part with different kinds of information, which includes the following:
- Personal details like your name and driver's licence number
- Contact detail like your residential address, email address, and phone number
- Your employment status and your employer’s contact details
- Details surrounding your income and expenditure
Financier’s step-up loan system along with its debit card can work well in your favour, but since you can find such features in other loans and lines of credit, compare a few before applying.
Do you really need a loan today?*
