Fair Go Finance Personal Loans

Fair Go Finance provides personal loans as well as car loans.

What personal loans does Fair Go Finance offer?

Fair Go Finance offers one personal loan product at the time of writing. This personal loan can be secured or unsecured, and offers a wide range of loan amounts and terms. Personal loans from Fair Go Finance also offer the following features:

  • Borrow from $500 up to $10,000
  • Loan pre-approval may be available in some situations
  • Access to Fair Go Finance support via their team of customer solution consultants
  • Option of a secured or unsecured loan depending on your credit rating and desired loan size

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What can you use Fair Go Finance’s personal loans for?

A personal loan with Fair Go Finance may be used for many important life events and other large expenses, such as:

  • Buying a car
  • Debt consolidation
  • Holidays
  • Home renovations
  • Weddings

Check the product disclosure statement (PDS) from Fair Go Finance to see what you can and can’t take out a personal loan for.

What are the loan terms on Fair Go Finance’s personal loans?

Fair Go Finance offers loan terms ranging from three months to 18 months.

What are the fees on Fair Go Finance’s personal loans?

There are a number of fees to be aware of when taking out a car loan with Fair Go Finance, which will vary depending on the size of your loan:

  • An establishment fee, which will be at least 10% of the principal for small loans, at least $360 for medium loans, and at least $595 for large loans
  • A monthly fee, which will be at least 2% of the principal for small loans and $5 for medium loans; Fair Go Finance does not mention a monthly fee for its large loans

Other fees may apply – contact Fair Go Finance for more information.

Do Fair Go Finance personal loans come with minimum repayments?

Yes, at the time of writing, Fair Go Finance stipulates that weekly repayments on a ‘small amount loan’ between $500 and $2,000 would range from $24 up to $52, and weekly repayments on a ‘medium amount loan’ between $2,250 and $5,000 would range from $39 up to $155.

Repayments will vary by loan amount/term, and your personal credit rating and the terms of your loan. Contact Fair Go Finance for more information.

How to apply for a Fair Go Finance personal loan?

Before you commit to a particular loan, you may want to consider comparing your personal loan options with Canstar.

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 When applying for a personal loan with Fair Go Finance (or most providers in Australia for that matter), you generally need to meet the following criteria:

  • You must be 18 or over
  • You must be a permanent Australian resident
  • Currently employed with a stable income of at least $500 a week (self-employed individuals are not eligible for Fair Go Finance loans)
  • Your income must not solely be from Centrelink
  • You must not have entered into bankruptcy or a Part 9 agreement within the last 12 months
  • For larger loans you must either have a registered vehicle available to use as security or be buying a vehicle that can be used as security
  • Be borrowing at least $500

If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities

About Fair Go Finance

Fair Go Finance is an online lending company. In 2017 Fair Go Finance joined the global MyBucks Group, a fintech company based in Luxembourg and listed on the Frankfurt Stock Exchange.

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Written by: James Hurwood | Last updated: June 21, 2019