What it can cover
- The funeral director’s fees.
- Burial or cremation.
- A headstone or plaque.
- A gathering after the service.
- Travel to the funeral.
Help to check before you borrow
The estate
Funeral costs can usually be paid from the estate of the person who died. Banks will often pay the funeral director’s invoice from their account. Ask their bank.
Super and insurance
Their super fund may include death cover, and a life or funeral insurance policy may pay out. Ask each fund or insurer.
Government help
If you or the person who died got certain Centrelink payments, you may be able to get a bereavement payment. Ask Services Australia.
Ask the funeral director
Ask for an itemised quote and a payment plan. A simpler service, or a cremation without a service, can cost much less.
How the loan works
It’s the same loan whatever you use it for. Your offer and contract show your exact figures before you accept.
| Feature | What it means |
|---|---|
| What you can borrow | $2,050 to $4,600 in cash, in $50 steps |
| Establishment fee | $400, added to the loan, so the total stays within $5,000 |
| Length | 3 or 6 months |
| Repayments | The same amount each time, weekly, fortnightly or monthly, timed to your pay. The first is at least 7 days after the loan is paid. |
| Interest | A fixed rate, charged only on what you still owe |
| Paying early | Allowed at any time, with no early repayment fee |
| Security | None. The loan is unsecured |
| How you get the money | Paid into your own Australian bank account, if you’re approved and accept |
When this loan isn’t the right fit
- Costs the estate, super or insurance will soon pay. Ask them first, or use the loan only to bridge the gap and repay early.
- Everyday bills or living costs that keep coming back.
- Paying off other loans or debts.
- Anything for a business, investing or gambling.
- If the repayments would leave you short for essentials. Free, confidential help is available from the National Debt Helpline on 1800 007 007.
Questions
Can I repay the loan when the estate or insurance pays?
Yes. You can repay early at any time, with no early repayment fee.
Can someone else repay it for me?
The loan is in your name, so you’re responsible for the repayments, even if family members help you.
How quickly is the money paid?
If you’re approved and accept your contract, the money is sent to your own bank account. Timing depends on your bank and our checks, so we can’t promise when it will arrive.