Fair Go offers both small loans up to $2,000 and personal loans between $5,000 and $10,000. Loans are offered to both good and bad credit applicants. If you have a negative credit listing, you can apply as long as you haven't declared bankruptcy in the last 12 months. Loan terms for small loans range from 3 to 12 months, while for personal loans it can be up to 3 years. These loans are expensive. For small loans, there is a 0% establishment fee and a 4% monthly fee. For personal loans, the interest rate ranges between 17.9% p.a. and 29.9% p.a.
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. Find out more here: https://www.finder.com.au/coronavirus-financial-help
⚠️ 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.
Types of personal loans available through Fair Go Finance
- Small Loan. This is a small, short-term loan that offers between $500 and $2,000. The loan terms are for between 3 to 12 months.
- Personal Loan. Fair Go Finance also offers larger personal loans of up to $10,000. Loans under $5,000 have a maximum term of 18 months and loans between $5,001 and $10,000 have a maximum term of 3 years.
Features of loans from Fair Go Finance
- Bad credit applicants considered. People with negative credit listings can apply, as long as they have not declared bankruptcy in the last 12 months.
- Various loan amounts available. Borrow between $500 and $10,000.
- Variety of loan terms. Fair Go Finance offers Small Loan terms between 3 to 12 months and Personal Loan terms of up to 3 years.
- No fees for early repayment. Repay your loan early without being charged a penalty.
The loan costs you should consider
Loan costs differ depending on the loan you apply for:
- Small loan. When you apply for a loan between $500 and $2,000, an establishment fee of 0% applies as well as a monthly fee of 4% will apply.
- Personal Loan. Loans between $5,000 and $10,000 come with an interest rate of 17.9% p.a. and 29.9% p.a.
How to apply for a Fair Go Finance loan
Fair Go Finance loans can be applied for online. Before applying, make sure you meet the following eligibility requirements:
- You are over 18
- You reside in Australia as a citizen, permanent resident, on a working visa or on a sponsorship visa
- Your weekly income is more than $500
- You are employed on a casual, part-time or full-time basis and are not on probation
You’ll need the following information on hand to complete the application:
- Identification documents. Details of your Medicare card or your driver's licence.
- Document with your address. A utility bill or rent receipt confirming your address.
- Internet banking details. This will give Fair Go Finance read-only access to the last three months of your banking history.
- Financial and employment details. Information regarding your income, assets, debts and your employment situation, including your payslips.