While we can’t speak for Savvy loans, Fundo does consider your credit score when you apply for a loan – but not exactly in the way you think.

For starters, if you have bad credit, that doesn’t automatically mean you can’t get approved for a Fundo loan. Unlike other lenders that will cut you off from quick loans at the jump, we accept applications from borrowers with less-than-ideal credit scores or histories.

Our approval process is similar. Rather than the traditional approach of judging applications based on creditworthiness, our decision process considers your ability to repay equally with your credit.

This is also why we have the Fundo Credit Score feature.

This feature is a unique score separate from your credit score that we assign to your account based on your credit habits with us.

The higher your Fundo Credit Score is, the better your application’s chances of being approved the next time you apply for one with us. Conversely, if you keep missing your payments, your score will be negatively affected, as will your future loan applications with us.

You can improve your Fundo Credit Score, including product reviews, peer referrals, and on-time payments.

Not all lenders are built the same. As before, we can’t speak for Savvy loans, but Fundo’s featured savvy loans are robust enough to compete.

A direct lender funds your loan directly, unlike loan brokers who facilitate the process between the borrower and the funding company. Many direct lenders also operate or offer emergency loans online, which makes them a favourite among borrowers for their accessibility and convenience.

On the other hand, many personal loan products from direct lenders are often either too expensive for a one-time expense, take quite a while to complete (personal loans could take up to seven years), or have steep interest rates.

While also being a direct online lender, Fundo follows the obligated amounts that lending laws in the country require we offer as part of responsible lending. This means that our fees are fair and within reason, and we do our best to offer you the best possible loan deals we can provide.

You can even track your payment schedules, and other pertinent information through our self-service dashboard. This dashboard shows your real-time updates for your account, as well as financial wellness advice that’s sure to help you improve your financial management where your Fundo loans are concerned.

If you’re curious about these features or have similar questions, feel free to ask us. Our customer service team is happy to answer your inquiries.

Why not apply with Fundo instead?

The good news is that applying for fast and savvy loans through Fundo is simple. Our entire application process is done online and can be finished in just minutes. Returning borrowers can even complete the process with just three clicks. It’s that easy. There are eligibility criteria that we’re obligated by lending laws to require, but they’re as straightforward as our application process.

For our requirements, you must:

• be at least 18 years old before applying;
• be an Australian citizen or permanent resident;
• be earning at least $500 as income, excluding government benefits or pensions;
• demonstrate a clear plan for meeting repayment deadlines; and
• ensure that you will not be placed under undue financial stress because of a Fundo loan.

Fundo accepts applications for savvy loans from pensioners with their pensions as supplementary income. Also, applicants who get government allowances or benefits should have a main source of income that is different from their allowances or benefits. These will greatly improve your application’s chances of being approved.

Applications submitted during business hours are also more likely to be processed within the same business day. Our business hours are from 8:00 am to 5:00 pm, Mondays through Fridays. Our loan consultants keep the same hours, so if you need guidance on your Fundo loans, just ring us, and we’ll be more than happy to walk you through the matter.

Loans can be a great lifestyle tool if you use them well. Fundo offers a wide range of loan products, such as a home renovation loan or a travel loan, that are just right for one’s needs.