Fundo Loan Review

Learn about the range of loan options offered by Fundo Loans, along with their terms and conditions, with Savvy today.

Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on February 12th, 2024       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Fundo is an online lender offering a range of small loans. Before deciding on Fundo, knowing how its finance products work, as well as the fees and terms is essential. Fortunately, you can explore these details with Savvy. Dive into our analysis of its offerings and discover potential alternatives with us today!

Rates and product information are correct as of 12 February, 2024.

Fundo Loan Review

How do Fundo's small loans work?

With Fundo, borrowers can access loans ranging from $500 to $2,000, featuring repayment terms spanning 91 days to six months. These loans fall under the Small Amount Credit Contract (SACC) loan category, meaning they’re subject to specific regulations governing fee structures. Additionally, Fundo offers Medium Amount Credit Contract (MACC) loans starting at $2,001 and capped at $5,000, which have the same minimum term but can go up to a maximum of two years. Borrowers have the flexibility to select their repayment frequency (either weekly, fortnightly or monthly) with no additional charges for early repayments for either loan type.

The application process for Fundo Loans is entirely online. Applicants need to be at least 18 years old and earn a regular income from full-time or part-time employment to qualify. Upon submission, applicants receive a swift decision, with approved funds released as soon as the same day if approved.

What will the cost of a small loan through Fundo be?

Fundo offers small loans with the following price breakdown:

Loans from $500 to $2,000:

  • Establishment fee: 20% of your loan amount
  • Monthly fee: 4% of your loan amount
  • Cost example: a $1,000 small loan repaid monthly over three months would come with a $200 establishment fee and a $40 monthly fee, resulting in a total loan cost of $1,320.

Loans from $2,001 to $5,000:

  • Interest rate: up to 47.8% p.a.
  • Establishment fee: $400
  • Cost example: For a $3,000 small loan repaid monthly over 12 months, you would incur a $400 establishment fee and interest of $943, resulting in a total loan cost of $4,343.

Can I qualify for a small loan with Fundo if I have bad credit or receive Centrelink payments?

Fundo can consider applicants with less-than-perfect credit scores or those receiving Centrelink benefits. While it conducts credit checks according to Australian responsible lending laws, Fundo primarily assesses your current financial situation and various other factors to determine eligibility. This means that it may be possible for you to get formal approval even if your credit score isn’t the best.

Regarding Centrelink payments, Fundo requires that borrowers must earn at least $500 per week, with the majority of that not coming from benefits. This means that if you’re a single mother or receiving a veteran payment or age pension, you won’t be able to apply if you’re unemployed and solely rely on this income.

What are the potential alternatives to a small loan with Fundo?

An alternative option to Fundo you may wish to consider is applying for a small loan through Savvy, where we partner with trusted lenders across the country to help you secure the funds you require swiftly.

Applying for a small loan through Savvy is a simple process. Here's how it works:

  1. Fill out our application form, providing details about yourself, including your credit score, income, employment, and other relevant information. You can select a loan amount ranging from $2,050 to $5,000.
  2. Submit your application and receive an instant automated decision from one of our partnered lenders.
  3. If conditionally approved, your application will be reviewed by your matched lender, which may require additional documentation.
  4. Upon lender approval, you'll receive formal approval and loan documents outlining your loan term, fees, repayment schedule, and more.
  5. After signing and returning the documents, your funds will be transferred directly to your nominated account. This can take place as soon as the same day you submit your application
Apply now

Helpful small loan guides

Small Loans Banner - Woman typing on her laptop while sitting in her kitchen

Need Money Now

You can apply for a cash loan online when you need money now and get funds in your bank by...

Small Loans Banner - Young couple assessing their financial situation before applying for a loan

No Credit Check Loans

Find out whether you can get approved for a loan with no credit check and get your application started with...

Small Loans Banner - Young couple looking at their finances and needing money desperately

I Need Money Desperately

Apply for your small loan with Savvy today and get an outcome fast. Borrow up to $5,000 Outcome in 60...

Small Loans Banner - Young couple working out their finances before applying for a loan

No Questions Asked Loans

Looking for a quick cash loan? Apply with Savvy today. Borrow up to $5,000 Outcome in 60 seconds Flexible repayments...

Apply for a small loan through Savvy today

We're here to help make life easier for you. With smooth online applications, instant outcomes and funding as soon as the same day, it's never been easier to access the funds you need than by applying through Savvy.


The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.

For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.

Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.