City Finance offers payday, cash and other loans for varying purposes, with multiple borrowing solutions available.
City Finance is an Australian short term online lender, offering a diverse range of loans for borrowers. The company has branches in all Australian states and territories, including major rural centres.
City Finance loans include a variety of loan types, including different periods of loan for different loan amounts, and flexible lending terms for larger loans which may offer additional options for borrowers.
Comparison of Payday Loans
Whilst we don't compare loans from City Finance directly, use the tables below to see how they compare against other short term loans
Types of personal loans from City Finance
City Finance advertise their loans for a wide range of purposes. They have a variety of loan types available, including:
- Payday loans
- Cash loans
- Car and boat finance
- Business loans
- Personal loans
City Finance has three basic classes of loans for their loans:
- Small loans from up to $2000 over a 1 year period
- Medium loans from up to $5000 over a 2 year period
- Other loans from $5001 up to an approved amount over 5 years
Loans are charged at a specified percentage of the loan amount, with an additional percentage-based management fee. City Finance does not offer refinancing or loan renewal options.
Features and benefits of a City Finance personal loan
City Finance loans are repaid on a direct debit basis from a nominated bank account. Charges are deducted using a regular repayment system. Amounts of repayments are inclusive and are designed to repay the loan in full over the nominated term of the loan.
Advertised features of City Finance loans include fast funding upon approval, with a an average 24 hour funding period after approval including financial institution processing times. This processing time may be relevant for borrowers seeking emergency cash, or trying to borrow under time constraints. For payday loans, which are used to manage short term cash flow issues, this fast processing offers immediate access to funds.
City Finance allows early repayment of loans by borrowers who may repay their loans directly via electronic funds transfer. It should be noted that in order to repay the loan in full, borrowers must pay all applicable charges and fees payable at the date of repayment.
City Finance offers borrowers the option of taking out more than one small loan. This option is only offered for loans up to $2000 and is not available for larger loans. The approval of a second small loan is made at the discretion of City Finance.
How to apply for a personal loan from City Finance
The City Finance loan application process is conventional. Borrowers may click the ‘Go to site’ tab on any page on the website, which directs them to an application form. Applicants complete mandatory information regarding personal details. They then specify the amount required, the period over which the loan is to be taken. Supply of documentation is optional at the application stage. Required documentation may be supplied at the time of application, or after assessment.
Applicants must be over 18, provided 100 points worth of identification and have a regular source of income. Alternatively, a business or individual with an ABN (Australian Business Number) may also apply for City Finance loans.
City Finance states that it will accept loan applications regardless of income status, including applicants from applicants receiving unemployment or similar benefits. City Finance does carry out credit checks and does state that loans may be declined on the basis of a bad credit record.
City Finance offers small to medium size personal loans on a straightforward basis of percentile charges and fees payable. Loans are offered in a broad bandwidth from $100 up to $5000, with loan costs and fees charged on a per $100 basis.
The three basic different types of loans offered by City Finance offer a structured range of choices for applicants. The various loan options offer money management choices for borrowers, with different time frames and cashflow choices for managing repayments. While the amount repayable for a City Finance loan remains at the same percentage over the different time frames, borrowers can select their preferred size of loan based on their financial situation. The early repayment option also provides a possible quick settlement.