Fundo Loans

Fundo Loans, online personal loans in Australia

Fundo Loans Pty Ltd is an Australian credit provider operating through fundo.com.au and presents itself as a specialist in fast online loans. Its proposition focuses on small and medium amounts, a fully digital application and quick resolution: the website states that decisions can be made on the same day as the application and that funds can be transferred in as little as 60 seconds from contract acceptance, provided the conditions are met.

The company claims to have funded over $400 million in loans and displays ratings of 4.8 out of 5 with more than 16,000 reviews and 4.7 out of 5 with more than 5,000, as well as a Finder AI Innovation Award 2024. These data come from the site's own presentation.

Products and catalogue conditions

The published catalogue distinguishes three tiers of unsecured loan, with different terms and costs:

• Small loan: from $500 to $2,000, with a minimum of 4 weeks and a maximum of 9 months. A 20% establishment fee and a flat 4% monthly fee on the principal apply.
• Medium loan: from $2,001 to $5,000, with a minimum of 9 weeks and a maximum of 9 months. $400 establishment fee and interest at 47.80% p.a., with a comparison rate of 66% p.a.
• Personal loan: from $5,000 to $10,000, with a minimum of 9 months and a maximum of 24 months. $200 establishment fee and interest at 36.8% p.a., with a comparison rate of 38.41% p.a.

The website includes representative examples of weekly and fortnightly repayments for each tier, calculated assuming timely repayment and no early repayment. It also lists common uses of the money, such as short-term loans, same-day loans, bad credit loans, personal loans, fast loans, education loans, furniture loans, bond loans, home renovation loans, dental loans, cosmetic surgery loans and easy cash loans.

Requirements and application process

To be eligible for a loan, you must be at least 18 years old and have regular income from full-time or part-time employment, government benefits or pensions. When benefits or pension are the only source of income, the application is subject to approval and the maximum available amount is limited to $500. The lender states that it applies responsible lending criteria and declines transactions that could place the applicant in financial hardship.

The procedure is carried out entirely online: the applicant indicates the desired amount, completes the form and, if they meet the requirements, receives a contract. The company notes that the form is available 24 hours a day and that approvals are processed Monday to Saturday. Decision and funding times may vary depending on the documentation provided and the time of submission.

Account management and customer profile

Customers have a personal dashboard and a mobile app to view and update their account, make or reschedule payments and track the balance, duration and due dates of the loan. The company has also developed the Fundo Customer Score, an internal score that, according to its description, recognises responsible borrowing habits and is presented as a tool to improve access to credit.

The site maintains that financing is possible even with a bad credit history, depending on the applicant's circumstances, and that the offer can be adapted with different loan types and repayment terms.

Company details and customer service

Fundo Loans Pty Ltd is registered with company number ACN 604 639 143 and Australian credit licence 491418. Telephone support is available on 1800 161 391 and by email at hello@fundo.com.au. The firm warns that decision and transfer times are not guaranteed and depend on documentation being provided before 4:00 pm Sydney time on a business day, as well as on the customer's bank operating with the NPP payments platform.

Location and contact

Phone: 1800 161 391 · Email: hello@fundo.com.au