Loans For Unemployed And On Centrelink
Same day funds up to $5,000
Same day funds up to $5,000
Looking for loans for unemployed and on Centrelink? Many Australians who are unemployed or receiving Centrelink benefits struggle to find a lender that will approve their loan application. At Fundo, we understand that financial support is still needed even without traditional employment. Our small loans start from $500, and while we may conduct a credit check, we consider Centrelink as a valid form of income, ensuring that you have access to the funds you need.
Can I get a loan if I’m unemployed and on Centrelink?
If you’re unemployed and receiving Centrelink payments, finding a lender willing to approve a loan can feel challenging. Many traditional lenders require proof of regular employment and a stable income, making it difficult for those relying on Centrelink. However, at Fundo, we understand that financial assistance may still be necessary even when you’re unemployed.
Fundo offers small loans starting from $500, and we take a holistic approach to reviewing applications. While we do require proof of regular income, your Centrelink payments can be considered as part of your application. Our online application process is simple and quick, and if approved, you could receive your funds on the same day, helping you cover urgent expenses like medical bills, repairs, or any unexpected financial situations.
What are the eligibility criteria for loans at Fundo if I’m unemployed and on Centrelink?
At Fundo, we have specific eligibility criteria to ensure the loan is suitable for you and won’t create additional financial stress. To apply, you must:
Meeting these criteria ensures that you can manage the loan repayments without added financial strain.
FAQs
Can I apply for a loan if I’m on Centrelink?
Yes, Fundo considers Centrelink payments as part of your income when reviewing your loan application.
How quickly can I get my loan approved?
If approved during business hours, you could receive your funds the same day or by the next business day.
What can I use my cash loan for?
You can use the loan for various urgent financial needs, such as bills, medical expenses, car repairs, or any other short-term costs.
Can I apply with bad credit?
Yes, Fundo considers applications from individuals with bad credit, focusing on your ability to repay the loan.
What is the minimum loan amount I can apply for?
Fundo offers loans starting from $500 to help you manage urgent financial needs.
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Loan amount from $500 to $2000
Minimum 91+ days to maximum 6
months
20% establishment fee and a flat
4% monthly fee4
Loan amount from $2001 to $5000
Minimum 91+ days 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 The comparison rate is specific to a $2,500 loan over a two-year term with a $400 establishment fee and fortnightly repayments. Any deviation in loan amount, term, or additional fees and charges can result in a different comparison rate, and the given comparison rate only applies to the presented example.
6 The example assumes timely repayment as per the loan agreement, or additional fees and charges may apply.
Safe
and Secure. 3 min
application²¹As soon as you sign your contract and if all other requirements have been met, 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 it is a weekend or a public holiday, the funds are usually received by the next business day. Fundo cannot guarantee that loan funds will be received within 60 seconds
²Applying for a loan with Fundo usually takes about 3 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.
We typically respond within 2 min or sooner.
I'd like to borrow ($500 - $5000)
