Ready. Set. Loan.
Same day funds up to $5,000
Same day funds up to $5,000
Is your search history filled with terms like ‘loans into bank account’? 

There are many reasons you could be looking for instant cash or online loans. Maybe your car is in urgent need of repairs, and you don’t want to dip into your hard-earned savings. Perhaps a loved one needs help with the medical bills. Or you’re going on holiday and just want a little extra pocket money.

Naturally, you want to make sure you can get your loans approved. You also want to make sure the money makes it to you safely and securely. The direct release of loans into bank accounts ensures that the funds get to you quickly and securely. Whether a specific type of account, such as a transactionor savings account, is required will depend on the credit provider. 

A bank account is one of the requirements for a Fundo loan. When you apply, we ask you to provide details of your bank name, account name, BSB, and account number. 

Providing details of your bank account allows lenders to confirm your identity. It also allows you to get your funds as soon as possible without having to leave your home.

If your bank account is also set up for direct debit payments, it will make it easy for you to make your repayments on your loan since you won’t have to keep setting reminders or potentially miss payments. Once your Fundo loan gets approved, the repayment amount will simply be auto-debited.

The best part about making repayments on time is that you get to improve your Fundo Credit Score (this is different from your actual credit bureau score). The more you display good borrowing behaviour by making prompt or even early repayments, the higher your Fundo Credit Score gets! This will increase the chances of your loan applications being approved in the future.

We understand that young people can run into unexpected scenarios as well. For example, school can bring about a tonne of expenses you can’t anticipate, from textbooks to tuition fees to supply needs for projects.

However, there are a few requirements you need to meet to apply for a loan with Fundo. To get the approved Fundo loans into bank account, you must typically have one in your name. In addition, you must:

Therefore, if you’re not at least eighteen years old, we cannot consideryour application. You can apply at a later time when you match the eligibility criteria.

We want to help as many Australians as possible achieve their financial goals by giving them a hand with unexpected expenses. Generally, when a loan is approved, we only disburse funds to a bank account bearing the same account name as the approved applicant.

As mentioned above, you would need to be a permanent resident or citizen of Australia to obtain a personal loan from Fundo. Unfortunately, non-residents or foreign nationals aren’t qualified for a Fundo loan.

If you’ve been typing in ‘loans into bank account’ and looking for answers on your search engine, you should know that every Fundo loan does come with fees. Rest assured, though, that your loan costs are governed by the applicable laws. 

We are regulated by the Australian Securities and Investments Commission (ASIC), too. That means our fees are in line with industry standards.

With Fundo, we believe in transparency and fairness. We charge fees on our loans, but we explain them to you clearly, giving you a clear picture of your obligations. We don’t have any hidden costs, as all fees are disclosed when your loan is approved and before you sign the loan contract.

Increase your Fundo Credit Score to boost your chance of getting approved on your next loan.
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.
¹As 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.