Borrow $2,001–$5,000 anytime – same-day assessments, Funds available same day for eligible applicants
Borrow $2,001–$5,000 anytime – same-day assessments, Funds available same day for eligible applicants
Moving into a rental property can involve several upfront costs. MyCashOnline offers personal loans from $2,001 to $5,000, with repayment terms of 3–18 months, which may help cover your rental bond, subject to assessment and approval.
A rental bond loan is a personal loan that you repay under a loan contract. It is separate from the bond held for your tenancy and does not guarantee approval of your rental application.
| Feature | Details |
|---|---|
| Loan amounts | $2,001–$5,000 |
| Minimum repayment term | 3 months |
| Maximum repayment term | 18 months |
| Maximum APR | 48% p.a. |
| Interest rate | Fixed for your loan, based on your risk profile |
| Repayment frequency | Weekly, fortnightly or monthly, as agreed |
| Security | Loans may be unsecured or secured by a registered vehicle |
Your approved amount, interest rate and repayment term depend on our assessment of your income, expenses, existing commitments and ability to repay.
| Fee | Amount |
|---|---|
| Establishment fee | $400 |
| Default fee | $27 per missed scheduled payment |
| Rescheduling fee | $15 per scheduled payment rescheduled |
Default and rescheduling fees apply only in the circumstances specified in your loan contract. They are excluded from the example below, which assumes all repayments are made as scheduled.
For a $3,000 loan over 12 months:
| Item | Amount |
|---|---|
| Annual interest rate | 48.00% p.a. |
| Establishment fee | $400 |
| Total interest | $908.37 |
| Total borrowing cost, including establishment fee | $1,308.37 |
| Total amount repayable | $4,308.37 |
| Repayments | Approximately $165.70 per fortnight over 26 instalments, with a final rounding adjustment |
| Comparison rate | 65.4962% |
This example is indicative. Your loan offer will set out your actual interest rate, fees, repayment schedule and total amount payable before you accept.
Comparison rate warning: The comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
Before applying, confirm the bond amount, payment instructions and due date with your property manager or rental provider. Include rent, removal costs, utility connections and loan repayments in your moving budget.
Check whether government rental bond assistance is available in your state or territory before taking out a commercial loan.
Our minimum loan amount is $2,001. If you need less, consider whether another option would avoid borrowing more than required.
Applications can be submitted online anytime and are assessed during business hours. Funding depends on approval, completion of documentation and bank processing times. Payment before your bond due date is not guaranteed.
A rental bond loan is a personal loan used to help pay the bond required for a rental property. You repay the loan through scheduled instalments, including applicable interest and fees.
No. MyCashOnline offers commercial personal loans with interest and fees. This product is not government rental bond assistance.
Approved funds are transferred to your nominated bank account. You are responsible for arranging the bond payment using the instructions provided for your tenancy.
Your repayments follow the schedule in your loan contract. Do not assume they are delayed until your previous bond is returned.
No. A bond refund and your loan are separate. Your loan repayments remain due under your contract unless another arrangement is agreed with us.
Timing depends on assessment, approval, completion of documentation and bank processing. Funding before a particular date is not guaranteed.
Contact us promptly to discuss your circumstances and available hardship assistance. Default or rescheduling fees may apply as specified in your loan contract.
Phone: 1300 998 868
Email: admin@mycashonline.com.au
All applications are subject to assessment and approval. Actual loan amounts, rates, terms and repayments depend on your individual circumstances.
