How Do Personal Loans Work?
Same day funds up to $5,000
Same day funds up to $5,000
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 $5,000 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!
As part of Fundo’s commitment to responsible lending, we have a minimum criteria for small personal loan eligibility. You must:
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.)
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.
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 credit score also means access to great perks and rewards!
A personal loan from a bank or lender is usually for larger amounts (in excess of $5,000) 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.
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.
Safe
and Secure. 3 min
application²
Kim S.
Ellie P.
Robert D.
Safe
and Secure. 3 min
application²
Increase your Fundo Credit Score to boost your chance of getting approved on your next loan.
Safe
and Secure. 3 min
application²
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.
Safe
and Secure. 3 min
application²¹As 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.
I'd like to borrow ($500 - $5000)
