Bond Loans Australia
WHAT IS A BOND LOAN?
Moving to a new premises can incur upfront expenses such as moving costs and providing a rental bond. A rental bond is a security deposit – typically equal to several weeks’ rent – and held by the relevant state bond authority. This security deposit covers any unpaid rent or property damage.
A bond loan helps a renter cover these upfront costs associated with moving to this new housing.
Sure Cash Finance’s “bond loan” is simply a standard Cash Loan (Small Amount Credit Contract) or Personal Loan (Medium Amount Credit Contract), and is not a separate financial product. These are assessed under the same responsible lending guidelines as any other loan.
WHO CAN APPLY?
Any Australian, aged 18 or over, with a regular income may apply for a bond loan. Income can come from wages, self-employment or eligible government payments, such as Centrelink income.
Loans for People on Centrelink (such as those receiving JobSeeker payments, Disability Support Pension payments, Carer payments, and Parenting payments) are eligible for flexible repayments. These repayments can be scheduled weekly or fortnightly to align with Centrelink payment schedules.
When applying for a bond loan (whether a rental bond loan or a housing bond loan), bear in mind that all applications are assessed individually in accordance with responsible lending guidelines and approval is never guaranteed or automatic.
FAST
LOAN APPROVALS
We understand our customers need funds quickly, so we provide fast approvals for our customers to help them receive the funds as soon as possible.
FLEXIBLE
PAYMENT TERMS
We offer flexible payment terms to suit our customer’s needs. There are no early payout fees if you choose to payout your loan sooner.
Fast Cash Loans
$300 – $5000
RELIABLE
SERVICE
Our trained staff provide a high standard of customer service. We help our customers find a financial solution to suit their needs.
AMOUNTS AND TERMS
As an Australian lender, we understand that people seeking a “bond loan” might require different amounts, depending on circumstances. That’s why Sure Cash Finance offers two specific loan options ranging from $300 to $5,000:
- Cash Loans – also known as Small Amount Credit Contract (SACC) loans. These loans are fully unsecured (no collateral required) and range from $300 to $2,000. The repayment terms can vary from 16 days to 12 months. This loan is considered suitable for most standard bond amounts.
- Personal Loans – also known as Medium Amount Credit Contract (MACC) loans. These cover loan amounts from $2,001 to $5,000 and have a repayment period up to 12 months. This loan is suitable for larger bonds (e.g. higher-rent properties). Whether an MACC loan requires security is assessed on a case-by-case basis. Some applicants can obtain an unsecured loan within this range, while others will need to provide security.
WHAT DOES IT COST?
Cash Loan (Small Amount Credit Contract – from $300 to $2,000) fees consist of an establishment fee of up to 20% of the loan amount plus a monthly fee of up to 4% of the loan amount.
Here is a loan example:
For a $1,000 loan over 6 months, the establishment fee would be up to $200 and the monthly fee up to $40 per month – a maximum total cost of $440 over the loan term.
Personal Loan (Medium Amount Credit Contract – from $2,001 to $5,000) fees consist of a $400 establishment fee, which is flat regardless of the loan amount, plus interest at 48% per annum.
HOW TO APPLY
You can apply for a bond loan as follows:
- Apply online or phone our friendly team on 1300 SURECASH (1300 787 322). Applications can only be made online or by phone.
- Enter the amount you’d like to borrow and the amount of time to pay the loan off. The calculator will then show your repayment schedule (weekly and fortnightly) and the total amount payable.
- Provide your income and personal details, along with proof of identity and tell about the purpose of your loan.
- Once your application is submitted, the Sure Cash team will assess it against responsible lending guidelines and contact you with the outcome. If approved and your contract is signed, funds are transferred to your account. While our team will act promptly, please bear in mind that your financial institution’s processing times may vary.
If timing matters because of your lease start date, it is recommended that you apply as early as you reasonably can.
WHY SURE CASH FINANCE?
Why choose us? Sure Cash Finance is a family-owned Australian lender (Australian Credit Licence 390591) with over 20 years in business. We understand the importance of fully covering moving costs and the rental bond. That’s why our Google rating is 4.8 stars based on over 454 reviews from our customers.
Our friendly staff assess every situation personally and provide support for our clients. We approach every interaction with a high level of care and understanding.
As a member of the Australian Financial Complaints Authority (AFCA, member 43334), Sure Cash Finance is committed to fair dispute resolution.
BEFORE YOU BORROW
Borrowing is not always the right choice for everyone. For one thing, it costs money, and there might be other options that are better suited to your individual situation. A government service for anyone seeking financial guidance or to make better-informed decisions is moneysmart.gov.au.
WARNING: Do you really need a loan today? It can be expensive to borrow small amounts of money and borrowing may not solve your money problems. Check your options at: moneysmart.gov.au
You can also access the National Debt Helpline on 1800 007 007.
Various states and territories offer free or low-cost rent bond assistance schemes. For example, bond help in NSW is provided through Rentstart Bond Loan and a government bond loan in Qld can be applied for through RentConnect. While there is no direct bond assistance through Centrelink, it might be possible to get a Centrelink Advance Payment to help with upfront costs.
If you are experiencing financial hardship, Sure Cash Finance has a hardship policy. If you require hardship assistance, contact our team to discuss your situation.
FAQ’S
Can I get a bond loan if I receive Centrelink?
Yes, it is possible. Any Australian, aged 18 or over, with a regular income may apply for a bond loan. This income can come from wages, self-employment or eligible government payments, such as Centrelink income.
All applications are assessed individually in accordance with responsible lending guidelines and approval is never guaranteed or automatic.
Is there a free government bond loan scheme I should check first?
Many states and territories provide bond loan schemes, such as:
- Rentstart Bond Loan in New South Wales
- RentConnect in Queensland
- RentAssist Bond Loan in Victoria
- Rental Bond Assistance in South Australia
- Bond Assistance Loan Scheme in Western Australia
How much can I borrow for my rental bond?
Sure Cash Finance offers two types of loan to cover rental bonds:
- Cash Loans – also known as Small Amount Credit Contract (SACC) loans. ranging from $300 to $2,000.
- Personal Loans – also known as Medium Amount Credit Contract (MACC) loans. These cover loan amounts from $2,001 to $5,000.
