What are bond loans, and how you can benefit from them when moving
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Understanding Bond Loans and Their Value for Tenants and Renters

The best thing about short-term lending in Australia is that your payments can be adjusted depending on your borrowed amount, making them easier to budget. For example, you may want to borrow $600 and pay it back within a month. You can do that easily through bond loans, as they have repayment terms between 16 days to nearly 2 years (if you have borrowed a large amount). 

Most Australians prefer using bond loans for a short period if they move as they wait for a bond refund. First-time renters prefer these loans because they can repay the borrowed amount over several paydays easily. Most tenants from a house or flat shares borrow for medium terms when waiting for their housemates to sign up. There are no early repayment fees for bond loans, and that’s why they are an excellent option when you want to fund your move. 

What Are Bond Loans?

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Each year, thousands of Australians prefer using a bond loan to manage the financial impact of moving to a new home. They are the perfect option for when you need to cover the expenses until your bond gets refunded or until you find new housemates to move in with you. Moving can get expensive, as there is the cost of hiring movers and sometimes you need new appliances or furniture. 

There’s also the cost of the monthly rent that you will be paying your tenants, which makes the total cost of moving difficult to cover. That’s where bond loans come into the picture, and they are considered better than personal loans as they are more flexible. You can borrow an amount between $400 to $5,000 for your bond loan. 

Bond loans aren’t secured against your possessions or property, and since they are flexible, you can pay for different things after you borrow the money. You may need cash for putting up advance rent and the cost of buying new appliances and furniture for your new home. 

How to Qualify for Bond Loans?

You can easily qualify for bond loans from reputable lenders who only want to ensure that you can afford the monthly payments for the loan repayment. The qualification process is straightforward, and the requirements are as follows:

  • You must be over 18 years of age
  • You must be a resident or citizen
  • Half your income must come from work 

Bank loan

You can still qualify for a bond loan if you’re self-employed. The lenders only require a couple of documents from you, including proof of ID (government ID card, passport, or driving license). You will also need to provide bank statements for the past three months, and some lenders may even ask for your Medicare number or card. 

Applying for a bond loan is a quick and straightforward process, and that is why it is preferred by people who want to move in quickly to their new home. If you want to get funded fast, you can apply for fast loans by Jacaranda Finance, which are ideal for bond loans. You can get approved and funded on the same day, which saves you a lot of time. That’s why it is a great idea to apply for bond loans before you decide to move so that you can have the cash on hand at the time of your move. 


If you think that you qualify as a candidate for bond loans, you need to research to search for any bond loan programs near you. Not every lender will offer you a bond loan program, and you can check from your local bank, affordable housing corporation, or housing finance authority to check if they provide bond loans. It’s better to shop around for a lender that offers you low rates and has a fast-approval process. Once you become a homeowner, you can watch your net worth grow as you start building equity in your home. Don’t wait any longer; apply for fast loans from Jacaranda Finance and get approved today. 

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