Looking for personal loans without a credit check?

Many people search for personal loans without a credit check when they are concerned about their eligibility or past financial history.

In Australia, all licensed lenders are required to conduct checks as part of their responsible lending obligations. This includes reviewing your financial situation to ensure any loan is suitable and manageable.

At Fundo, we assess your full financial situation, including your income, expenses, and overall ability to repay. Your credit history may be considered as part of this process, but it is not the only factor.

A difficult credit history does not automatically disqualify you. Each application is assessed individually.

Loans are subject to credit assessment, eligibility criteria and approval.

How personal loan assessments work

When you apply for a personal loan, lenders must make reasonable enquiries to determine whether the loan is appropriate.

This typically includes reviewing:

• Your income from all sources
• Your regular living expenses
• Existing financial commitments
• Recent banking activity
• Your ability to meet repayments without financial hardship

If a loan appears likely to cause financial difficulty, the application may be declined.

Personal loan options at Fundo

Fundo provides a range of regulated credit products:

Small Loans (SACC)

• $500 to $2,000
• Short-term, smaller expenses

Medium Loans (MACC)

• $2,001 to $5,000
• Larger unexpected costs

Personal Loans

• $5,000 to $10,000
• Structured repayments over a longer period
• Designed for more significant expenses

The most suitable option depends on your financial situation and what appears manageable based on assessment.

What you will need to apply

To apply, you generally need to:

• Be at least 18 years old
• Be living in Australia
• Have an active Australian bank account in your name
• Receive regular income of at least $1,000 per fortnight (may include government benefits)
• Demonstrate the ability to meet repayments without financial hardship
• Provide electronic access to your bank statements for assessment

Additional information may be requested where required.

How the application process works

Applications are completed online.

1. Select your loan amount
2. Provide your personal and financial details
3. Give access to your bank statements for assessment
4. Submit your application
5. Receive a decision once sufficient information is reviewed
6. If approved, review and accept your loan contract

If approved and you accept your contract, funds are transferred to your nominated bank account as soon as reasonably possible.

Processing times vary depending on verification requirements and bank systems.

Can you get a personal loan with a difficult credit history?

It is common to be concerned about your credit history when applying for a loan.

While past credit issues may affect approval and loan terms, they do not automatically prevent you from applying. Lenders will consider your broader financial situation, including your current income and expenses.

The key factor is whether the loan appears manageable for you.

Things to consider before applying

Before applying for a personal loan, consider:

• The total amount you will need to repay
• Whether repayments fit comfortably within your budget
• Whether the expense is necessary
• Whether alternative options may be available

If you are unsure, you may wish to explore other options first.

Alternatives to consider

Before applying for credit, you may wish to explore:

• Payment plans with service providers
• Using available savings
• Government assistance
• Free financial counselling

You can contact the National Debt Helpline on 1800 007 007 for free, independent support.