Rental Bond and Moving Costs Loans
We understand that securing a new rental property and moving can be both exciting and financially challenging. That’s why we’re here to provide you with the financial support you need to ensure a smooth transition. With a Mega Cash GO rental bond loan, you can cover the upfront costs of securing your rental property and focus on settling into your new home. Whether you’re moving locally or relocating interstate, our rental bond loans offer flexible terms and competitive rates, ensuring that financial constraints don’t stand in the way of finding your perfect rental property.
What is a Rental Bond Loan?
A rental bond loan is a special type of personal loan designed to assist with the upfront costs associated with securing a new rental property. When moving into a new rental, you’re often required to pay a security deposit known as a rental bond, which is typically equal to four weeks’ rent. Mega Cash GO’s rental bond loans provide access to flexible repayment terms and competitive interest rates, ensuring that financial constraints don’t hinder your ability to secure your preferred rental property. Our rental bond loans are accessible across all Australian states and territories, making them ideal for individuals relocating interstate as well.
Why apply for a Rental Bond Loan?
Renting is a common housing option in Australia, with a significant proportion of the population leasing their dwellings from private landlords, real estate agents, or through government housing programs. While moving into a new rental can be exciting, it can also be expensive. Beyond the obligatory rental bond, tenants frequently face the financial responsibility of paying rent in advance, funding moving and packing services, and furnishing their new house or apartment. To alleviate the financial strain associated with costs, many Australians take out a rental bond loan.
Here are a few reasons why a rental bond loan could be the right choice for you.
- Don’t Miss Out: With a rental bond loan, you can secure a rental property quickly and avoid missing out on the place you want.
- Reduce Stress: Moving can be a stressful experience, but a rental bond loan can alleviate the financial burden, allowing you to focus on settling into your new home.
- Positive Rental Record: Timely payments can enhance your reputation as a reliable tenant, making future rental applications smoother and more competitive.
- Preserve Savings: By using a rental bond loan to cover the security deposit and other moving expenses, you can hold onto your savings for emergencies or other financial goals.
- Smooth Transition: A rental bond loan ensures a seamless move-in process, allowing you to transition into your new rental property without financial hurdles or delays.
What does a Rental Bond Loan cover?
Whether you’re moving interstate or just around the corner, our rental bond loans offer the flexibility to secure your desired property without the burden of upfront costs. Some of the expenses typically covered by a rental bond loan include:
- Rental bond (usually 4 weeks’ rent)
- Rent in advance
- Utility connections such as electricity, gas, and internet
- Removalists
- New furniture and appliances
- Packing supplies
- Cleaning fees
- Storage costs
- Temporary accommodation
- Transportation expenses
Types of Mega Cash Go Loans:
| Loan Feature | Small Loan | Personal Loan |
|---|---|---|
| Loan Amount | $300 to $2000 | $2050 to $5000 |
| Costs | 20% establishment fee + 4% of loan amount per month | Establishment fee of $400 + 36% p.a interest |
| Loan Terms | 1 to 12 month duration | 2 to 24 month duration |
Do you need to get a move on? Get Started Today.
Frequently Asked Questions
View all FAQ'sAm I eligible for a Mega Cash GO Rental Bond/Moving loan?
If you are over 18, an Australian citizen or permanent resident and receive an income, you may be eligible for a Mega Cash GO loan.
We verify all your details to make sure you’re in a position to repay. Our top priority is to ensure that you have a great experience and are able to comfortably repay your loan.
How much can i borrow for a Rental Bond/Moving loan?
Mega Cash GO offers loan between $300 and $5000! The amount you can borrow will be based on the amount you ask for and your personal circumstances at the time you apply.
Mega Cash GO will perform an identity and credit check with a credit reporting bureau, as well as assess your income and expenses to ensure that the product you choose is right for you.
How much does it cost?
You’ll always see a clear breakdown of all your fees and repayments before you confirm your loan. As a quick reference, though, here’s a general breakdown of fees:
Small Loan: If the principal amount you borrow is between $300 – $2,000 you’ll pay:
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Establishment fee: 20% of the principal amount
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Monthly loan fee: 4% of the principal a month
Medium Loan: If the principal amount you borrow is between $2, 050 – $5,000 you’ll pay:
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Establishment fee: $400 flat rate
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Interest Rate: 36% p/a
What do i need to get started?
Mega Cash GO has tried to make our application process quick and easy! We don’t like paper and boring consultation meetings. We do still need to know some things though…
What you will need to apply:
- Your internet banking details
- Two of the following forms of identification (driver licence, Medicare card or passport number)
- Your BSB and bank account number (so we know where to deposit your money)
- Plus all the usual stuff like your name, DOB, Address, employment information and details on your current expenses.
How do i apply for a Rental Bond/Moving loan?
Apply: Apply here and answer some basic questions or download our app and apply.
Link: Link your bank account for instant approvals and cash delivery.
Verify: For security purposes, we’ll request that you verify your ID.
Approval: Your loan application is either approved or Denied. Either way, you’ll know if your loan’s been approved before the end of the day.*
*application must be received before 3:30pm AEST
Cash delivered! Once you’re approved, we’ll send you a direct deposit in minutes.
How quickly will i get my money?
We understand the importance of fast financing, especially while trying to juggle the complexities of moving. Our technology enables you to upload all necessary documents directly from your mobile or computer, allowing us to provide you with a speedy response.
Once you’re approved, you’ll receive your funds within 5 minutes of confirming your loan.*
*Loan must be approved by 3:30pm AEST during banking days. Otherwise, the payment will be processed on the next business day. Clearance time is subject to your bank.
WARNING! Do you really need a loan today?
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
- If you are on government benefits, ask for an advance from Centrelink: www.humanservices.gov.au/advancepayments
The Government MoneySmart website shows you how small amount loans work and suggests other options that may help you.* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Apply and manage your loan in-app today!
