Bond Loans

Bond loans don’t get secured against property or possessions, so they’re pretty flexible. That frees you up to pay for a few different things with one round of borrowing. On top of your bond, you may want to fund advance rent, as well as the cost of furniture and appliances – and even removalists.

The great thing about shorter-term lending in Australia is that you can adjust repayment terms to suit how much you borrow – making them easy to budget for. For instance, you may need to borrow $2,050 and want to pay that back within two months. Bond loans give you that option, with repayment terms available anywhere between just 16 days and two years. Some Aussies use a bond loan over a really short period if they need to move while waiting for a bond refund. Sometimes, it’s loans for first-time renters when it makes sense to spread the hit over several paydays. Many main tenants from flat or house shares borrow over a medium term while waiting for new housemates to sign up. Australian rental bond loans don’t have early repayment fees, so they’re a great way to fund a move.

Applying for a bond loan with Savvy is simple. We’ll quickly match you with the best lender for your circumstances; then, you’ll get directed to their site. The entire application process gets carried out on the web from your phone or computer. You can upload documents and fill in forms, then receive money directly into your bank account.

Savvy helps thousands of Australian tenants get a bond loan every year. We deal with reputable lenders who primarily want to make sure you can afford repayments. Qualification is usually straightforward as a result. You’ll need to be 18 or over, a resident or citizen, and at least half your income should come from work. You can still get a bond loan on Centrelink, and if you’re self-employed.

Lenders will only ask for a few documents, and most of them are items you’ll have handy. You’ll need proof of ID (passport, driving licence, or government ID card). You’ll get asked for three months' worth of bank statements (borrowers receiving benefits will need a Centrelink income statement too), and some providers will ask for your Medicare card or number.

Applying for a bond loan with Savvy is quick because we know there’s no time to waste once you’ve found the perfect home. When that happens, Savvy will connect you to the cash loan provider that best suits your needs. If you want to get funded fast, we’ll consider that factor. Cash loan applications are designed to offer quick, easy applications so they’re ideal for rental bonds. Cash loan providers vary, but it’s not unusual to get approved and funded the same day. It’s a great idea to get your application started as soon as you decide to move, and you can save your progress at any time.