Loans like Fundo

Experience a hassle-free application process through Savvy, a straightforward alternative to loans like Fundo.

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 January 25th, 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.

$2100
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$500
$50,000


Paid in 60 mins if approved*
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 January 25th, 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.

Loans and lenders like Fundo have emerged as a popular choice for Australians seeking quick access to funds. Yet, it's crucial to explore other options, which is why Savvy is here to help. You can learn more about Fundo and similar loans, comparing them to the simplicity of applying for a fast loan through us today!

How do loans like Fundo work?

Fundo specialises in offering small loans, providing a swift and accessible financial solution for those in need of quick funds. Commonly known as payday loans, Fundo offers both small ($500 to $2,000) and medium loans ($2,001 to $5,000). While small loans are based around fees, rather than interest, medium loans do come with both interest and fees.

The approval process is designed for speed, often resulting in same-day approval and, in some cases, funds disbursed within an hour of application. Repayment terms are flexible, allowing borrowers to choose durations ranging from 91 days to six months (small loans) or two years (medium loans).

What fees will I have to pay with loans like Fundo?

For loans like Fundo, the applicable fees and interest depend on the loan size you opt for. Loans up to $2,000 come with an initial establishment fee, which is up to 20% of the loan amount, and ongoing monthly fees, which can be as high as 4% of the loan. In the case of larger loans ranging from $2,001 to $5,000, the establishment fee is capped, not exceeding $400, and interest is charged, which may be up to 48% p.a. (specifically 47.8% p.a. as of January 22, 2024, for Fundo).

Understanding the implications of these fees is crucial for assessing the overall cost of your loan. For instance, if you borrow $500 and repay it over four fortnights, your total fees for the term could amount to $140. However, opting for a $2,000 loan spread over 13 fortnights would result in increased fees, totalling $880. In contrast, applying for a $3,000 loan with Fundo repaid over one year fortnightly would result in a $400 establishment fee and interest of $1,028.

What alternatives to loans like Fundo are available?

On the hunt for a suitable alternative to loans like Fundo? Consider applying for a small loan through Savvy. We have trusted lending partners around the country, enabling us to offer access to fast cash loans ranging from $2,050 to $5,000 to all eligible Australians. The application process is streamlined and efficient, helping deliver an instant outcome in just 60 seconds.

If that yields a conditional approval, you can swiftly secure formal approval (subject to relevant eligibility criteria), and funds may be sent by your lender within as little as one hour, depending on your lender and bank's processing times. Get started today to access the financial support you need with ease!

Why apply for a small loan with Savvy?

Common questions about small loans

Is it realistic to get a small loan with a low credit score?

Yes – securing a small loan remains a viable option, even with a less-than-ideal credit history, as long as you meet the eligibility criteria set by the lender. In contrast to traditional lenders who heavily weigh credit scores, those offering small cash loans typically adopt a more flexible stance.

Can I complete the repayment of my small loan before the due time?

Yes – paying off your small loan ahead of schedule is permitted, and there are no penalties for doing so. Early settlement can be a financially savvy move, cutting down on monthly fees and, in turn, reducing the overall cost of the loan.

Are there limitations on the utilisation of my small loan funds?

Once you receive your small loan funds, you have the flexibility to utilise them for various purposes. Whether it's covering multiple household expenses or addressing unexpected financial challenges, the choice is yours. Nonetheless, it's crucial to understand certain usage limitations, such as refraining from repaying other small loans or engaging in gambling activities.

Can I receive my small loan funds on Saturdays?

Your loan application can only undergo formal assessment, approval, and funding during your lender's standard business hours. If your lender operates on Saturdays or Sundays, there's a possibility that you could receive your loan funds over the weekend. However, keep in mind that the actual disbursement of funds is also contingent on bank processing times, so even if your lender approves your application on the weekend, the funds may not be available straight away.

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Disclaimer:

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.