Fair Go offers small loans up to $2,000, medium loans up to $5,000 and personal loans up to $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 1 to 12 months, up to 24 months for medium loans and up to 36 months for personal loans. These loans are expensive and come with high fees and charges.
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.
Types of personal loans available from Fair Go Finance
- Small Loans. This is a small, short-term loan between $300 and $2,000. The loan terms range from 1 to 12 months.
- Medium Loans. Borrow from $2,050 to $5,000 with terms from 6 to 24 months.
- Personal Loan. From $5,050 to $10,000 with terms from 9 to 36 months.
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 $300 and $10,000.
- Variety of loan terms. Fair Go Finance offers Small Loan terms between 1 to 12 months, Medium Loans from 6 to 24 months and Personal Loans from 9 to 36 months.
- No fees for early repayment. Repay your loan early without being charged a penalty.
How much do loans from Fair Go Finance cost?
Loan costs will differ based on the loan you apply for:
- Small loan. An establishment fee of 20% and a monthly fee of 4% of the loan amount.
- Medium loan. Establishment fee ranging from $375 to $771, monthly fee from $8 to $9 and an interest rate ranging from 9.90% – 29.90%.
- Personal loan. An establishment fee from $536 to $795, monthly fee from $10 to $11 and an interest rate ranging from 15.92% – 25.90%.
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.