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Fair Go Finance Small Loan

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Fair Go Finance Small Loan
Maximum loan amount
$2,000
Turnaround time
24 to 48 hours
Fortnightly repayment
for $1,500 loan
$354
Term of loan
3 to 12 months
Do you really need a loan today? If you would like to speak to someone about your finances you can call the free National Debt Helpline on 1800 007 007.

Summary

You can get an unsecured small loan from $500 to $2,000. Establishment fees can apply, depending on your credit score.

Fair Go Finance offers small loan amounts ranging from $500 up to $2,000. Customers can also pay off the loan early without penalty. The loan terms range from 3 months up to 12 months, and repayments are scheduled based on your income. This loan accepts bad credit borrowers, but you may not be able to get a waiver on your establishment fees. While you may not have to pay an establishment fee if your credit score is good, this loan is expensive. Apart from an establishment fee of 20% the borrowed amount, you will also be charged a monthly fee between 2% to 4%. Payday loans are not a long-term financial solution and can lead to further debt. You should only apply for a payday loan in case of an emergency.

Pros

  • Generous loan terms
  • No security required
  • Early repayments allowed

Cons

  • High loan costs

In this guide

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Details

Product details

Product Name Fair Go Finance Small Loan
Minimum loan amount $500
Maximum loan amount $2,000
Arrears Fee $35
Loan term 3 to 12 months
Turnaround time 24 to 48 hours
Costs Establishment Fee of $60 – $400
Available to Centrelink Borrowers? No

⚠️ Warning about Borrowing

payday-warningDo 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.

Main points to consider about the Fair Go Finance Small Loan

The Fair Go Finance Small Loan offers borrowing amounts between $500 and $2,000. No assets are required as security for the loan and no interest is charged on the amount borrowed. However, this loan charges an establishment fee and a monthly fee. The Fair Go Finance Small Loan offers fixed repayments in accordance with the frequency of your income.

Features of the Fair Go Finance Small Loan

  • Loans from $500 to $2,000. Customers can apply for loan amounts up to $2,000.
  • No security required. This is an unsecured personal loan, which means that borrowers are not required to offer any assets as collateral for the loan.
  • Terms from 3 months to 12 months. The Fair Go Finance Small Loan is available with repayment terms ranging from 3 to 12 months.
  • Fixed repayments. The Fair Go Finance Small Loan offers a fixed repayment schedule based on the frequency of the borrower's income. So if you're paid fortnightly, you'll be required to make the payment every two weeks.
  • Early repayment allowed. Borrowers won't be charged any additional fees if they pay off their loan early.
  • Bad-credit borrowers accepted. As long as they meet the other eligibility requirements and can demonstrate their ability to repay, Fair Go Finance considers personal loan applications from people with bad credit.

Fees and charges

  • The establishment fee. An establishment fee from 12% to 20% of loan amount applies when you first get the loan.
  • An ongoing monthly fee. Borrowers will be charged between 3% to 4% each month.

The amount you will be charged for these fees varies depending on the amount you borrow. For example, borrowing $2,000 for a 6-month term means you will have an establishment fee of $200 and a monthly fee of $40. Meanwhile, borrowing $500 for the same period results in a $50 establishment fee and a monthly fee of $10. This is an expensive way to borrow money and there will be additional fees if you are unable to make a repayment on time. Before you take a Fair Go Finance Small Loan, always make sure that you will be able to afford each of the repayments.

The cost of your loan will be outlined in your loan contract when you apply, so read this closely to determine whether this loan is affordable for you.

How to apply for a Fair Go Finance Small Loan

If you’ve compared your finance options and decided that the Fair Go Finance Small Loan is your preferred option, you can apply online. Before you get started, check if you meet the eligibility criteria and have the necessary information to complete the application:

Eligibility requirements

You may only apply if you meet the following personal loan eligibility criteria:

  • 18 years of age or older
  • Living in Australia as a citizen, permanent resident, or on a working visa or sponsorship visa
  • At least 50% of your income must come from casual, part-time, or full time employment
  • No declared bankruptcies in the last 12 months.

Details and documents to provide

Applicants must provide the following information:

  • Proof of ID, for example, your driver’s licence
  • Three months’ worth of bank statements
  • A recent payslip

Applicants can track their application through the customer portal. If your application is approved, the funds can be transferred to you within 30 minutes.

A Fair Go Finance Small Loan might help if you need funds to overcome a short-term financial problem. However, make sure you carefully consider your borrowing needs and compare personal loan options before deciding whether it’s right for you.

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Tim Finder

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Rekha

September 20, 2023

Hi,

I have bankruptcy, will that be an issue?


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Sarah Megginson Finder

September 27, 2023

Hi Rekha, We’re a review and comparison site not affiliated with this lender so we can’t give you an indication of approval. Your best bet is to contact Fair Go Finance directly.


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jamal

February 17, 2019

Hi, I am an international student studying in Sydney with stable casual job and income. Am i eligible for small loan of 2000$ from fair go finance? if not is there any other company?


Thanks


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John Basanes Finder

February 18, 2019

Hi Jamal,


Thank you for reaching out to Finder.


Though you would not be able to take out a loan with Fair Go Finance since they require you to be a permanent resident. You may check our list of loans for temporary residents that you could apply for.


Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.


Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!


Cheers,

Reggie


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Daniel

October 04, 2018

If I if I was to borrow $700 and could

Pay it back within a week will there be any additional fees other than the establishment fee?


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Charisse Finder

October 04, 2018

Hi Daniel,


Thanks for reaching out to finder.


There is no specific information about the fees a borrower will have to pay if he is able to repay the loan amount in 1 week; whether or not he still needs to pay the monthly fee on top of the admin fee. It’s mentioned on their website though, that Go Finance small loan has a minimum payment term of 3 months and they don’t charge early repayment fee.


You need to contact Fair Go Finance directly to get full information on their loan terms and conditions.


I hope this helps.


Cheers,

Charisse


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Rachael

August 16, 2018

I have terrible credit history and am only on centerlink eoll anyone lend to me


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Joel Marcelo

August 16, 2018

Hi Rachael,


Thanks for leaving a question on finder.


You need to be in regular paid employment to be eligible for Fair Go Finance. You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks, and credit unions. Government and community financial assistance schemes are also available. Please refer to our list of lenders offering Centrelink loans to find the lender that suits you.


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 9:30 am to 4 pm, 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.


Cheers,

Joel


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Jay

March 28, 2018

Is a credit check preformed ?


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May Finder

March 28, 2018

Hi Jay,


Thanks for your inquiry.


With Fair Go Finance, yes, a credit check will be performed when you apply. They also do not accept applicants who have entered into bankruptcy (including Part IX) within the last 12 months. You may instead consider loans with no credit check or loans for bankrupts. These pages have a comparison table you can use to see which lender suits you.


Please click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.


Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.


Cheers,

May


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