How Do Personal Loans Work?
Small Personal Loans
When we set a budget, we’re hoping for the best. Sometimes the unforeseen happens - and urgent expenses pop up that we can’t ignore. That’s where Fundo can help. You can get a small personal loan from $500 to $10,000 without the rigmarole of submitting endless documents to your bank or lender and waiting days or weeks for an answer.
Fundo puts the fun back into lending - we offer three-click applications using our 24/7 secure dashboard. The best part is you could have the money in your account in under sixty seconds if you’re eligible and approved. What are you waiting for? Apply now!
Check if you’re eligible for a small personal loan
As part of Fundo’s commitment to responsible lending, we have a minimum criteria for small personal loan eligibility. You must:
- be at least eighteen years old;
- be a citizen or tax-paying resident of Australia;
- prove that you earn a minimum of $500 per week, excluding government benefits;
- ensure repayment deadlines are met; and
- not be at risk of financial problems if you borrow from Fundo.
You can apply for a loan online at any time, from any location, with just three clicks. When you visit our website, you'll be asked to fill out a general information sheet and enter the amount you would like to borrow. If necessary, we may ask for additional documentation. If you need help, email us at hello@fundo.com.au or call us on 1800 161 391 between 9am - 6pm Monday to Friday, 9am-5pm on Saturdays or 9am-1pm on Sundays (AEST.)
FAQs about small personal loans
Do small personal loans have high interest rates?
The fact is that yes - small personal loans have higher interest rates than other types of loans. This is because small personal loans are for relatively small amounts (compared to say, mortgages or car loans) and have relatively short repayment terms (weeks compared to decades.) No matter what kind of loan product you choose, shorter terms and smaller amounts will have higher interest rates compared with longer terms and bigger amounts. This is due to lenders taking on more risk and the cost of lending. At Fundo, we aim to keep our rates as reasonable as possible, and we are upfront and transparent about your interest, fees, and charges.
I have bad credit. May I apply for a small personal loan?
Yes! We offer a fair go to anyone who needs a small personal loan with bad credit. We use our own credit scoring platform to figure out if you’re eligible. Plus, signing up for a fundo customer score also means access to great perks and rewards!
What’s the difference between a personal loan and a small personal loan?
A personal loan from a bank or lender is usually for larger amounts (in excess of $10,000) to purchase an asset. In many cases, these personal loans are secured against the asset, like in a car loan. A small personal loan doesn’t require collateral like some personal loans and can be used to buy things you can’t keep, like emergency plane tickets, paying off medical bills, or urgent car repairs.
Can I get a small personal loan without a lorem ipsum?
Yes - we use our own Fundo scoring model to assess whether a small personal loan is right for you. We don’t formally check your credit score without your express permission.
