What it can cover
- Your rental bond. It’s usually up to four weeks’ rent.
- Your first rent payment in advance.
- Moving costs that come at the same time, like a removalist.
Check these before you borrow
Government bond help
Most states and territories offer bond loans or bond help for eligible renters, often interest-free. Check your state’s housing department first.
Your old bond
If you’re leaving a rental, your old bond comes back after the final inspection. It may cover part of the new one.
Know where your bond goes
In most states and territories, your bond is lodged with a government bond authority, and you should get a receipt.
Add it all up
Count the bond, rent in advance, moving and connection costs, and borrow only what you need.
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
- Ongoing rent.
- If rent is already hard to pay. Talk to the National Debt Helpline first.
- 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
Who holds my bond?
In most states and territories, a government bond authority holds it, not the agent or landlord. Check the rules where you live.
Can I repay the loan when my old bond comes back?
Yes. You can repay early at any time, with no early repayment fee.
Can one loan cover bond and moving costs?
Yes, as long as the total cash you need is within $4,600.
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.