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Fair Go Finance personal loans
Fair Go Finance is an online financial institution with no physical branches that focuses mostly on personal loans for Australians who have bad credit.
Fair Go Finance does not provide any other banking options other than loans from $500 to $10,000. You will not find everyday bank accounts, savings accounts or credit cards on offer from this institution.
Fair Go Finance also offers payday loans to borrowers in Australia. As is typical for payday lenders, its loans come with very high fees.
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Why choose Fair Go Finance
Fair Go Finance Personal Loans
Personal Loans calculator
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
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- This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
- Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
- The calculation rounds of the personal loan repayment to the closest dollar value without decimals.
- All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.
Features of a Fair Go Finance personal loan
Unlike its payday loans, personal loans from Fair Go Finance come with interest rates in addition to fees. Fair Go Finance personal loans are unsecured.
Fair Go Finance charges a high upfront fee for new customers when establishing their first loan. It is recommended that any potential borrowers compare this fee to other banking institutions before applying for a loan with Fair Go Finance.
Additionally, Fair Go also charges an ongoing monthly fee on its loans. While this is not uncommon, there are many lenders that do not charge this fee.
Fair Go Finance personal loan rates are high when compared to the rest of the personal loans market.
Fair Go Finance personal loans - customer service
Fair Go Finance is an online institution, so there are no branches for borrowers to visit in Australia.
Customer service is offered to Australians through phone, email or online correspondence. The call centre can be reached Monday – Friday 6.30am to 4:30pm (AWST), and Saturday 8:00am to 12:00pm (AWST).
Who is eligible for a Fair Go Finance personal loan?
Meeting the following criteria will assist applicants in securing a personal loan from Fair Go Finance:
- Be at least 18 years of age
- Living in Australia (citizen, permanent resident, on a working visa or sponsorship visa)
- Employed and earning at least $500 per week (Centrelink income can’t be your only source)
- Have not declared bankruptcy in the last 12 months
How to apply for a Fair Go Finance personal loan?
Here is how you can make an application for a Fair Go Finance personal loan:
- Choose your loan amount and term.
- Complete the online application form. It should take about 5 minutes.
- Submit the application and you’ll receive your preliminary assessment outcome.
- Fair Go Finance will get in touch and let you know the outcome.
- If approved, you will receive your funds overnight.
Fair Go Finance personal loans review
Much like its payday lending services, a Fair Go Finance personal loan is a lending option for those with bad credit who have no other options.
There is a high upfront fee associated with Fair Go Finance personal loans. Ongoing monthly fees also apply. Additionally, current personal loan interest rates from Fair Go Finance are high when compared to loans from other financial institutions.
As such, most potential borrowers are likely to find a more cost-effective loan with more reasonable terms from other personal lenders in Australia.
Generally speaking, a Fair Go personal loan should not be sought for unnecessary personal items, due to the high rates and fees.
Use RateCity to compare personal loan interest rates and find the best personal loan rates available for your specific requirements and financial situation.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
