Borrow between $150 and $5,000 and enjoy the advantages of a Financier Card
Financier provides individuals with personal lines of credit from $150 to $5,000, and it uses the latest in technology to give its customers access to approved funds on the same day. While you have the option of repaying the borrowed money on your next payday, loan terms can extend up to 2 years.
Once you repay your initial loan, you can get a Financier debit card, which gives you access to immediate cash the next time you need any. While there is a limit to how much you can borrow the first time around, limits increase on a step-up basis all the way to $5,000.
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Whilst we don't compare this loan directly, here are some other loans that are similar.
Financing options with Financier
As a new customer, you can apply for a personal loan through Financier which comes in the form of a line of credit, and as a repeat customer you can access this line of credit using a Financier Visa debit card.
- Line of credit. Through this line of credit you can borrow between $150 and $5,000, although you can borrow no more than $450 through your initial application. When you repay your first loan completely, you credit limit increases and continues to increase on a step-up basis. Financier has in place certain loan numbers with preset maximum limits, and you qualify for one only after passing through the ones before it.
- Financier card. You qualify for a Financier debit card as soon as you repay your first loan completely, and through this card you can access your funds via EFTPOS terminals and ATMs across Australia. This card comes linked to a personal bank account that allows you to transfer funds to it as and when you like, and it also gives you access to Financier approved funds immediately.
Why should you consider taking out a Financier loan?
Turning to Financier to get a personal loan comes with a number of benefits, and here’s what you can expect.
- Low minimum amount. Financier gives you the ability to borrow as little as $150, and by borrowing no more than you need, you can save in the form of interest as well as fees and charges. You can borrow up to $5,000, provided you go through Financier’s tiered system.
- Borrow for $1. If you're looking to borrow $200 for your initial loan, Financer will only charge you $1 to 'try' borrowing with them. Note that fees for transactions, including direct debits, credit card payments and admin fees, apply. You can review these below.
- Variable loan terms. Paying your Financier loan back on your next payday is always an option, but if your budget does not permit this you can ask for a loan term of up to 2 years.
- Easy access to funds. While most short term loan providers transfer funds into your bank account, Financier gives you a debit card that you can use to access your funds. This, as mentioned, happens after you repay the first loan completely.
- Personal loan manager. When you work with Financier you get to deal with a personal loan manager and not a different person each time you need help. Your personal loan manager remains your single point of contact and assists you through the entire course of your loan’s term.
How much will it cost you to borrow from Financier
Financier aims to provide complete transparency when it comes to the fees and charges associated with its line of credit, and you get to view a complete list of these as part of the loan contract. It is ideal that you go through these ahead of time so you know just what to expect down the line. Some of the fees and charges are as follows.
- Direct debit administration fee: $1.10 (charged once to set up direct debits)
- Direct debit transaction fee: $0.88 (charged for every direct debit)
- Credit card fee: Visa/MasterCard - 2.2% (min. $0.88) and AMEX/Diners - 4.4% (min. $0.88) (these apply only if payments come from credit card accounts)
- SMS payment reminder: $0.28 (for each SMS text sent to your phone 24 hours before the debit, but this service is optional)
- Direct debit dishonour fee: $9.90 (charged by third party and not by Financier)
Are Financier loans safe?
Financier is a member of the Credit Ombudsman Service Limited and National Credit Providers Association, and it ensures that its staff, representatives, agents, and brokers adhere to the highest code of ethics. As far as the fees and charges associated with its loan go, you can expect to get a complete list of these before you sign the contract.
How to apply for a loan from Financier
To apply for a Financier loan you have to submit an online application. Before you apply, make sure you meet the following eligibility criteria:
- You’re over 18 years old
- You’re a permanent resident of Australia
- You have regular employment in Australia and earn at least $500 per week
- You have an active bank account, operational for at least four months
- You don’t have two or more reversed or dishonoured payments showing on your bank statement
To complete the application you have to provide different kinds of information, so prepare to part with the following:
- Personal details like your complete name and contact information
- Your employment status, income details, and employer’s contact details
- Details about all your existing debts like credit cards, loans, and overdrafts
Financier’s step-up line of credit can help you get access to money in a hurry, but since this is not the only loan that does so, make sure you compare a few before applying.
Frequently asked questions
How long does it take to apply?
You can complete the online application in around five minutes, provided you have all the required information close at hand.
How long does Financier take to process the loan?
While you find out about the application’s status almost immediately, you can expect cash into your nominated account in 60 minutes. Repeat customers can expect the process to take around 30 minutes, and with a Financier debit card, you can get instant access to approved funds.
Can anyone get a Financier card?
You can get a Financier card only after you repay your first Financier loan in full.
Can I apply for a Financier loan if I don’t have a bank account?
No, you cannot, and your bank account needs to have been open and active for at least four months.
How can I contact a Financier staff member?
You can get in touch with a Financier staff member over the phone or through their live online chat platform.