Does A Payday Loan Amount Depend On My Income?
Same day funds up to $5,000
Same day funds up to $5,000
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People who need a cash payday loan quickly may not be able to find a reputable lender in the time they need. Traditional lenders may be able to provide the amount of money needed, but the process may take too long. Moreover, many lenders are reluctant to approve a cash payday loan to someone with less-than-great credit.
Instead of looking up ‘I need cash fast’ or ‘personal loans online Australia’, take advantage of our services here at Fundo. We offer small, short-term loans to help with unexpected costs like medical bills, car repairs, or even holiday expenses. You can enjoy an easy, streamlined application process, flexible repayment terms, and speedy turnaround times.
The amount of a cash payday loan in Australia is usually at most $2,000. The amount typically doesn’t depend on your salary, but it’s a significant factor in your creditworthiness. Lenders usually require proof of income to assess your ability to make repayments before approving a requested amount.
Fundo accepts applications for up to 2000 dollar loan amounts. The requirements to be eligible for a quick fast loan with us are straightforward.
You must be at least 18 years old and an Australian citizen or permanent tax resident to apply. You should have either part-time or full-time work that pays $500 per week. Applicants who rely solely on government benefits for financial support may be asked to reapply at a later time when they have an additional stream of income.
In cases where we determine that applying for a loan from Fundo could put you under undue financial stress, we cannot recommend you for a loan. Fundo is built on the principle of responsible lending; thus, demonstrating that you can afford to repay the loan on time is essential.
Once you get approved, we’ll deposit your funds to your nominated bank account immediately. This can be good news for those searching for ‘same day cash advances’ because if you submit your application and get approval within our business hours (Monday to Friday, 9 a.m. to 6 p.m.; Saturday, 9 a.m. to 5 p.m.), you’re likely to receive your money within the same day.
Usually, a cash payday loan is no more than $2,000. It’s a short-term loan designed to help borrowers get through temporary financial situations.
Keep in mind that borrowing more than you can afford to repay could lead to increased interest charges, late payment fees, and even damage to your credit rating.
Our company is well-regulated by the Australian Securities and Investments Commission (ASIC) and is 100% Australian-owned and operated. Our experts understand the local lending landscape and the needs of our borrowers who are seeking a cash payday loan.
That’s why our loans can be used for a wide range of purposes, including consolidating debt, purchasing a car, completing necessary home repairs, and more. Finding a lender who meets your specific requirements might be challenging; however, the loans offered by Fundo are offered with your needs in mind. Our repayment terms are flexible, and there are no hidden fees or charges.
A cash payday loan, like any other type of credit, can affect your credit score.
Many payday lenders will perform a ‘hard enquiry’ on your credit file, which can temporarily lower your score. Rejected applications won't show up on your credit report, so applying and being denied for one won't hurt your score. In addition, if you decide to apply for another loan right after being turned down, another credit enquiry that follows can lower your score.
Moreover, if you are unable to make timely payments on your loan, a default will be recorded on your credit report, further hurting your score. Other lenders who see that you defaulted on this loan may get the impression that you are a higher risk the next time you apply for credit.
At Fundo, our lending decisions go beyond your credit score. Among other things, we consider your current ability to repay a loan and your overall financial situation.
We even have our own system called the Fundo Score, which is distinct and unaffected by your credit history with any of the reporting bureaus in Australia. This score reflects your entire journey with us at Fundo. We reward you for every successful repayment and closing of a loan account with us. You can also win points for leaving a review or referring a friend.
The higher your score, the more likely your application will be approved. You can even win access to special discounts.
Using our interactive self-service dashboard, you can monitor and manage your Fundo Score. You can also use this dashboard to make and reschedule payments, as well as obtain top suggestions from us on all things related to financial wellness, from ‘Australia loans online’ to ‘weekend loans’.
The next time you’re in search of a cash payday loan, just apply for a simple short-term loan with us at Fundo!
Disclaimer: The views expressed here are not intended to serve as financial advice or recommendations of any kind; rather, they are given solely for the purposes of education and entertainment. Unless otherwise specified, the opinions that are presented here are subject to change at any time.
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and Secure. 5 min
application²
Kim S.
Ellie P.
Robert D.
Safe
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application²
Safe
and Secure. 5 min
application²
Loan amount from $500 to $2,000
Minimum 5 weeks to maximum 6
months
20% establishment fee and a flat
4% monthly fee4
Loan amount from $2,001 to $5,000
Minimum 9 weeks to maximum 2 years
$400 establishment fee, interest at
47.80% p.a. (comparison rate 66.58% p.a.)5
4 Fees are based on loan principal advanced.
5 Comparison rate is based on an unsecured loan of $2,500 over a term of 2 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
6 The example assumes timely repayment as per the loan agreement, or additional fees and charges may apply.
Safe
and Secure. 5 min
application²Terms and conditions and fees and charges apply. Approval and loan amount are subject to our credit assessment criteria.
¹As soon as you sign your contract, we instantly send the funds to your nominated bank account. If your bank works with the New Payments Platform (NPP), most customers see funds in their account within 60 seconds. If your bank is not NPP enabled, or its a public holiday, the funds are usually received by the next business day
²Applying for a loan with Fundo usually takes about 5 minutes. However, this time can change based on a few things, such as your typing speed, the device you're using, and whether you have all the necessary information ready to go.
³As the approval process is influenced by various external factors, we can't guarantee that you'll receive a decision on the same day. However, most of our customers do receive a same-day response to their application with Fundo, if they submit their loan application and all the requested supporting information by 4pm Sydney time during a regular business day.
Fundo is an Australian direct lender that offers short-term, small loans without any legal jargon or red tape. Our online loans are designed to provide access to a broad range of qualified applicants, including those with less-than-perfect credit.
Finding small loans with flexible repayment terms is now a reality with Fundo - no need to keep searching for 'Debt Consolidation Loans Bad Credit', 'Personal Loan With Fast Approval', or '24 Hours Cash Loans'. Applying for Fundo loans in the future gets more engaging when you pay off your loans in advance penalty-free while also increasing your chances for approval.
Fundo believes that eligible applicants should be able to get closer to the loans they need. If you've been looking for small cash loans through search terms like 'Instant Approval Loans Need Cash Today', 'Payday Loans No Credit Check', or 'Savvy Loans', then you can stop looking now - let us show you how easy it is to apply for a loan with Fundo.
We typically respond within 2 min or sooner.
I'd like to borrow ($500 - $5000)
