Help with rental bond costs

Moving into a new rental property often requires an upfront bond payment, which can place pressure on your finances.

Some people consider short-term credit or personal loans to help manage these costs.

At Fundo, we provide a range of regulated credit products that may be used for rental bond expenses, subject to assessment and approval.

Loans are subject to credit assessment, eligibility criteria and approval.

Short-term loans can be expensive and may not be suitable for everyone. Borrow only what you need and can afford to repay.

What is a bond loan?

A bond loan generally refers to a loan used to help cover the upfront cost of a rental bond when entering into a tenancy.

In Australia, rental bonds are typically required by landlords or agents and are held as security for the duration of the lease.

While some government assistance programs may be available in certain circumstances, others may consider using a loan to help manage this upfront cost.

Loan options available

Fundo offers a range of credit products that may be used for rental bond costs, depending on your situation:

Small Loans (SACC)

• $500 to $2,000
• Short-term, smaller expenses

Medium Loans (MACC)

• $2,001 to $5,000
• Larger upfront costs

Personal Loans

• $5,000 to $10,000
• Structured repayments over a longer period
• Suitable for higher bond amounts or combined moving costs

The most suitable option will depend on your financial situation and what appears manageable based on assessment.

How the application process works

Applications are completed online.

1. Select your loan amount
2. Provide your personal and financial details
3. Give electronic access to your bank statements for assessment
4. Submit your application
5. Receive a decision once sufficient information is reviewed
6. If approved, review and accept your loan contract

If approved and you accept your contract, funds are transferred to your nominated bank account as soon as reasonably possible.

Processing times vary depending on verification requirements and bank systems.

Eligibility requirements

To apply, you generally need to:

• Be at least 18 years old
• Be living in Australia
• Have an active Australian bank account in your name
• Receive regular income of at least $1,000 per fortnight (may include government benefits)
• Demonstrate the ability to meet repayments without financial hardship
• Provide access to your bank statements for assessment

Each application is assessed individually.

Things to consider before using a loan for a rental bond

Before applying for a loan to cover a rental bond, consider:

• The total cost of borrowing
• Whether repayments fit comfortably within your budget
• Whether you have other upcoming moving costs
• Whether alternative support options are available

Taking on additional credit may increase financial pressure if not carefully managed.

Alternatives to consider

Before applying for a loan, you may wish to explore:

• Rental bond assistance programs (where available)
• Payment arrangements with landlords or agents
• Using available savings
• Free financial counselling

You can contact the National Debt Helpline on 1800 007 007 for free, independent support.

How applications are assessed

All licensed lenders in Australia must assess whether a loan is suitable before approval.

This includes reviewing:

• Your income from all sources
• Your regular living expenses
• Existing financial commitments
• Recent banking activity
• Your ability to meet repayments without financial hardship

If a loan appears unsuitable or may cause financial difficulty, the application may be declined.