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.

Does a payday loan amount depend on my income?

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 $300 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.

Can I borrow more than my monthly income on a payday loan?

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.

Will it hurt my credit if I borrow payday loans a lot?

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 Credit 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 Credit 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.