Good to Go Personal Loan
- Min Loan Amount
- Good to Go Personal Loans are now no longer in operation. The information on this page has been kept for the benefit of those who are interested.
Good to Go Personal Loans are now no longer in operation. The information on this page is for historical reference only.
Good to Go’s personal loan allows you to borrow from $3,000 up to $30,000, even if you have an imperfect credit score. Loan terms can vary between four weeks and five years. You can secure this loan with as asset if you wish. Applications are online and the process is quick, but this loan is expensive, and features high fees and charges.
|Product Name||Good to Go Personal Loan|
|Interest Rate Type||Variable|
|Min Loan Amount||$3,000|
|Max. Loan Amount||$30,000|
Are you struggling financially?
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.
⚠️ 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.
So, how do Good to Go Personal Loans work?
You have to start the process by completing an online application, and once you do this you have to use Good to Go's Document Portal to upload the required loan assessment documents. You have to provide two forms of identification along with documents to verify your income, and the latter can come in the form of payslips, tax returns, and bank statements. You have to provide 90 days bank transaction details as well.
Upon receiving your application and other supporting documents, a Good to Go representative reviews the same, and contacts you to inform you of the outcome. If your application is approved, Good to Go sends the loan's contracts details to you via email, and you have to sign this digitally in order to move forward and receive your approved funds.
The features you can expect
Good to Go Personal Loans come with different features, and it's best you know of them ahead of time.
- Flexible loan amount. The minimum you can borrow through a Good to Go Personal Loan is $3,000, and you can borrow up to $30,000.
- Flexible loan terms. The term of the loan can have a significant effect on repayment size, and with loans terms between 1 month and 1 year, you're able to establish suitable repayments after taking your budget into account.
- Repayment flexibility. When you get a Good to Go Personal Loan, you can set up repayments in line with how often you receive your pay, which can be monthly, fortnightly, or weekly.
- Extra repayments. Making extra repayments is easy, and you can make any number of extra repayments at any time. You can make these payments via cheque, money order, direct debit, EFTPOS, as well as cash. Paying the loan off before its term comes to an end does not attract any penalties.
- Bad credit applications considered. You can consider applying for this loan even if you have poor credit, as long as you have the ability to repay the amount you wish to borrow.
What are the risks of payday loans?
- Unaffordable repayments. Payday loans are an expensive way to borrow money and should only be used as a last resort. Check the size of each repayment and ensure you will be able to pay it on time. Unaffordable repayments can lead to late fees that will only make things worse.
- High rates and fees. Rates and fees on payday loans are high but there are rules in place so be sure to check your lender is not charging you more than ASIC allows. Also, look at what you would be charged if you are late on a payment or if you default on the loan altogether.
- Unreputable lenders. All Australian lenders should be accredited by ASIC. Check for a credit licence on the ASIC Register and ensure that the lender is easily contactable.
- Impact on credit score. Every loan application shows up on credit reports. While lenders might not consider credit history, applying for lots of loans within a short period can have a negative impact on your credit score in the future.
How much does it cost?
Until you accept the loan's contract you don't have to pay any fee, and you don't have to pay any penalties for an early payout either.
After the loan's approval, you get a detailed list of all fees and charges associated with this loan, and you can review these at your own pace. If you don't want any surprises down the road, it's best that you go through these at the very onset. If you find the fees and charges higher than you'd like, you don't have to accept the contract.
How you can apply for a Personal Loan from Good to Go
To apply for a Good to Go Personal Loan you have to visit the Good to Go website. To get started now, simply apply online but not before establishing that you meet the following eligibility criteria.
- You're at least 18 years old
- You're a permanent Australian resident
- You have a steady source of income
- You are not bankrupt and not involved in bankruptcy proceedings
The online application requires you to part with different types of information, so prepare to provide the following.
- Personal details like your name, date of birth, residential address and phone number
- Your employer's contact details and your employment status
- Proof of your income
- Financial details, including information regarding your debts
Getting a Good to Go Personal Loan can be an option to consider, given the features it comes with, but since you can find other loans with similar features, compare a few before deciding.