Fair Go Finance is a financial institution that offers a range of personal loans.
Their products include small to medium personal loans that range from $500 to $5,000 and larger personal loans that range from $5,001 to $10,000.
In this blog post, we will explore the features and benefits of Fair Go Finance personal loans.
How It Works
The process of obtaining a personal loan with Fair Go Finance is straightforward. The loan application takes as little as 5 minutes, and the loan process is fast.
Clear instructions on what documents to send are provided, and funds are transferred quickly upon final approval. Repayments are fixed for the entire loan term so that borrowers can budget each month.
There are no hidden costs or early payout fees, and returning customers are rewarded with an express service along with the Mates Rates benefits.
How to Apply for a Personal Loan with Fair Go Finance?
To apply for a personal loan with Fair Go Finance, you need to meet certain eligibility criteria, which includes:
- Being an Australian citizen or permanent resident
- Being over 18 years old
- Having a regular source of income (employment, government benefits or self-employed)
- Having a valid email address and mobile phone number
If you meet these requirements, you can start the application process by checking your eligibility on the Fair Go Finance website fairgofinence.ckm.au.
You will need to provide some personal and financial information, such as your name, address, income, and expenses.
Once you have submitted your application, it will be assessed by a credit consultant who will contact you to discuss your loan options.
If your loan is approved, you will receive a loan offer and a repayment schedule. You can accept the offer and receive the funds within 24 to 48 hours of final approval.
All loan applications are subject to approval and assessed separately. The loan amount and loan term offered will be determined by Fair Go Finance’s lending criteria and the applicant’s credit history.
Small-Medium Personal Loans
Fair Go Finance’s small-medium personal loans range from $500 to $5,000. These loans are fixed personal loans that can be used for various personal needs. They have a fixed repayment amount and can be paid weekly, fortnightly, or monthly.
Borrowers can repay the loan early without incurring any early discharge or repayment fees. Changes can be made during the loan term for a specified fee.
Larger Personal Loans
Fair Go Finance’s larger personal loans range from $5,001 to $10,000. For any personal loan over $10,000, Fair Go Finance’s broking team assists with submitting a loan application to an appropriate lender on their panel. These loans can be applied for in the Large Loans section.
Loan Repayments
The loan repayment amount will be confirmed as part of the credit assessment process, and a repayment schedule confirming these payments and due dates will be provided to the borrower.
Borrowers can change the repayment amount prior to funding or during the loan term.
Changing the Loan Repayment
Borrowers can increase repayments or pay out the balance with a lump sum during the loan, such as if they receive a tax refund, at any time.
They will only be obliged to pay the balance owing under the contract without incurring any early discharge or repayment fees for repaying early.
If the borrower’s financial situation changes, such as if they move and their rent goes up or they lose their job, they can temporarily or permanently decrease repayments.
Borrowers should contact Fair Go Finance immediately to update their situation. A $35 variation fee will be payable each time this is requested.
Total Cost of Credit
In addition to making sure the repayments are affordable, applicants should understand the total cost of credit before taking a loan. The total cost of credit is the combination of the interest rate, establishment fee, and other ascertainable fees.
Due to the range of personal loan sizes offered by Fair Go Finance, the loan establishment fee and interest rate vary depending on the loan amount.
A Credit Consultant will discuss this with the applicant prior to the loan being funded. If the applicant is unsure about the total cost of credit, they should discuss it with their Credit Consultant.
Benefits of Repaying the Loan Early
There are several benefits of repaying a Fair Go Finance loan early. First, borrowers only have to repay the interest charged on their loan up until the day they pay it out.
This saves them money. Second, the ability to maintain regular, reliable repayments is critical to establishing a positive credit history with Fair Go Finance and other creditors.
Showing that they can sustain a certain repayment amount each week,
Benefits of Choosing Fair Go Finance
There are many benefits of choosing Fair Go Finance for your personal loan needs, including:
- Fast and easy application process: The loan application takes as little as 5 minutes and you can receive your funds within 24 to 48 hours of final approval.
- Flexible loan options: Fair Go Finance offers a range of personal loan options to suit your needs and budget, including small-medium personal loans and larger personal loans.
- Fixed repayments: The repayments are fixed for the entire loan, so you can budget each month without worrying about any unexpected changes.
- No hidden costs: There are no hidden costs and no early payout fees, so you can repay your loan early without incurring any extra charges.
- Loyalty rewards: When you return to Fair Go Finance, your loyalty is rewarded with an express service along with our Mates Rates benefits.
- Good credit history: By repaying your loan on time, you can establish a good credit history with Fair Go Finance and other creditors, which can help you access credit in the future.
Conclusion
If you need a personal loan for any reason, Fair Go Finance offers a range of loan options that can suit your needs and budget.
The application process is fast and easy, and you can receive your funds within 24 to 48 hours of final approval.
With fixed repayments, no hidden costs, and loyalty rewards, Fair Go Finance is a reliable and transparent lender that can help you achieve your financial goals.
