FAQ

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1. What is the loan repayment term?

Our minimum loan term is 30 days and our maximum term is 365 days.

2. How much can I borrow at one time?

You can borrow from $2100 to $5 000 at once. The amount you are eligible to borrow will be assessed and determined by your lender.

3. What are the available repayment options?

You can choose to make repayments either weekly, fortnightly or monthly. Your lender will set the repayment term according to your selection. We normally recommend that you set the repayment term to match your income frequency.

4. Who do I contact if I have a problem or a complaint?

You are welcome to contact us directly in writing hello@loansbuddy.com.au. Depending on the nature of your enquiry you it may be appropriate to talk to your lending company.

5. What services do you offer?

We find the best available payday loans or personal loans for our customers from our panel of lenders. We take pride in offering quick loans and many of our customers receive their funds on the same day.

6. Will you introduce me to a lender?

Yes, we endeavour to introduce you the lender that has the best available loan option to suit your needs. Once we have a decision from your loan application, your lender will be in contact with the terms and conditions for your loan.

7. How long does the entire application take?

We are proud of our quick cash loans service. Sometimes you can have the money in your account within a couple of hours. Below is a summary of the process:

STEP 1: Our easy online application form takes less than 5 minutes to complete. You should receive a conditional approval within a few minutes, and your lender will be in contact with you via text or email within the next hour.

STEP 2: Once you have e-signed and approved your loan contract, a few more verification checks may be completed and your lender will send your funds to your nominated bank account.

STEP 3: The time it takes to get your loan varies depending on your lender and your bank. Sometimes our loans are called same day loans because most people get the money in their back on the same day they apply. If funds are sent after 3pm or on the weekend then it's more than likely you will receive your funds on the next business day.

8. What states do you service?

Our instant loans service is available to people all over Australia. Our extensive panel of lenders can lend to customers in New South Wales, Victoria, Tasmania, Western Australia, Northern Territory and ACT.

9. Who is eligible to apply for a loan?

Criteria may vary depending on the requirements of each lender. However the minimum requirements we need to satisfy are:

• You need to be at least 18 years of age
• You need to be an Australian citizen or permanent resident
• You must be able to comfortably afford to meet the repayments with your regular income paid into an Australian bank account.
• You need to provide proof of identification.
• You must have a valid Australian telephone number and email address.
• You must not have two or more ongoing loans in your name already
• You need to make sure you have not applied for two or more loans in the past 90 days.
• If a lender has declared you as a 'defaulter' for incomplete past payments your loan approval chances may be lower. Approval depends on the policies of each lending company on our panel.

10. Do Centrelink recipients qualify for a loan?

Yes, if you are a Centrelink beneficiary you can apply if:

• You are getting half of your income from Centrelink.
• Your repayment amount from your loan should not be more than 20% of your income (including any past loans you are still repaying).

11. How much does a loan cost?

• We process your application for free.


• After your loan has been approved your lender will charge:


• Upfront Establishment fee: 20% of total loan amount


• Monthly interest: 4% of the total loan amount.

E.g. If you borrow $800 for 90 days your charges will be:
(a). Upfront Establishment Fee: $160 (20%)
(b). Monthly interest: $32 per month (4%) for the next 90 days.
(c). The total amount you end up paying to the lender is $1056.

(The above rates are a numeric example, the results may vary between different lenders and some lenders may charge additional fees. Please refer to your loan contract for a full breakdown of the fees and charges associated with your loan).

12. What should I do if I have problems making my repayments?

Contact your lender as soon as possible to discuss your options. If you do not advise your lender of your situation and miss a payment you may be charged a fee.

13. What if I want to pay my loan off early?

You are welcome to pay your loan off early and will not incur any cancellation fees.

14. How do I contact customer support?

We provide many convenient ways for you to get in touch. You can complete our contact form online .

Email us - hello@loansbuddy.com.au
Phone us on 0424 102 033
Or write to us at 8 Budawang St, Parkinson, QLD, 4115, Australia

15. Why do I have to enter my personal information into your website?

We need your personal details to complete the relevant verification checks that enable us to match you with the lender that will best suit your needs. The other reasons we collect your personal information are:

• To confirm your identity.
• To verify that you can comfortably afford to meet your repayment obligations.
• To verify that you are the owner of the bank account your funds are going to be deposited into.

16. Do you complete a credit check as part of my application?

We do not complete a credit check as part of our initial application process. Some of our lenders will conduct a credit check. This is to gauge an understanding of your past credit history and how well you have repaid credit in the past. If your application is declined by one of our lenders we will do our best to find another lender that can help.

You are required to give your permission for a credit check to be completed. This is why you must read the terms from your lender before you proceed.

17. Does a bad credit history affect my chances of being approved for a personal loan?

We believe that everyone deserves a fair go. Many of the lenders on our panel specialise in bad credit loans so there is every chance that we will be able to find a lender to approve your application.

18. What are your opening hours?

Everything is 100% online so we are open 24 hours, 7 days. This means you can apply for weekend loans from the convenience of your lounge room.

19. What reasons do I have to provide for a personal loan?

We have helped our customers out with loans for a variety of reasons. We can help you with unexpected bills e.g. car registration loans. Or it you need help with a special one of purchase. We have helped customers with boat loans or motorbike loans. We are extremely flexible, let us know the reason in your application to help us to match you with the best available lender.