Ready. Set. Loan.
Same day funds up to $5,000
Same day funds up to $5,000
Learning about different types of loans can be a bit like a jungle, right? With all the payday loan companies and so many choices, it can feel overwhelming. But don’t worry. We’re here to make it clear!

First off, let’s unpack ‘What are payday loans?’ These are usually small, short-term loans that you repay by your next pay date or next few pay dates. While they can be a quick fix, they’re often associated with high fees.

On the other hand, you’ve got personal loans. These are typically larger, longer-term loans used for significant purchases or expenses. They’re more like sturdy, reliable trees in your financial jungle.

Swinging between these two is the credit card – a revolving line of credit. Picture it as a vine you can swing on, borrow from, repay, and then swing on again, giving you continuous access to funds.

Now, where does Fundo fit into this? We offer small personal loans to eligible borrowers. Unlike payday loan companies, we can offer medium-sized loan amounts to those who meet our requirements. Ultimately, when you borrow from Fundo, you aren’t tied to repayment by your next pay receipt.

Payday loans are legal in all jurisdictions within Australia, although they are subject to tight regulations. For instance, payday loan companies should impose payment durations not shorter than fifteen days. Fee caps are also in place for these types of loans.

So while surfing for ‘I need money desperately Australia’ or ‘payday loans no credit check instant approval’, it’s important to check that the lender follows these restrictions before signing up.

We know how important responsible borrowing is for you, and we’re proud to tell you that we’re governed by lending legislation. 

While we do not offer payday loans at Fundo, we place transparency by disclosing all fees upfront for all our loan options. We believe in no hidden fees or surprising charges. We stand by to assist you on your financial journey, providing a seamless, no-fuss borrowing experience while keeping your needs in focus.

Payday loan companies are obligated to enquire about a borrower’s income and employment to ensure their capacity to repay a loan. They usually request income details through physical or electronic bank statements from you when you apply.

It will still depend on the specific lender’s process as to how strict they will be when verifying your capacity to repay. Now, if you’re looking to apply for loans and want to ensure a convenient process, it’s best to look beyond payday loan companies. 

Take Fundo, for example. We’ve tailored our process to be as straightforward as possible, offering a short-term cash loan solution that’s speedy and uncomplicated. We understand that sometimes, you need cash fast without the paperwork or long approval process.

With Fundo, you can apply for a loan from the comfort of your home, and we’ll only need you to:

Payday loan companies’ approach to loan extensions often varies. The conditions depend on the lender and the borrower’s specific situation.

You don’t have to limit yourself to payday loan companies to get the funding you need. Life can be unpredictable, and we get that at Fundo. We’re committed to understanding unforeseen circumstances that might affect your ability to repay your loan. 

Should you ever require assistance with your repayments, our customer service team is readily available. We can work together to explore alternative payment options by you communicating with us and providing a two-day notice of any changes to your repayment schedule.

At Fundo, we believe in creating an environment where you feel valued and comfortable. We’re not just about quick online loans. We’re about building relationships. So, don’t hesitate to reach out because we’re here to help. Borrow money today from Fundo!

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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.
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.