RentBond, rent.com.au’s flexible bond finance solution for renters makes moving easy. If you need a short-term loan while you wait for your bond refund, RentBond is completely free when you pay it back within 21 days.
What is RentBond?
RentBond is Australia’s leading rental bond loan, offered through rent.com.au. You can use RentBond to pay your rental bond, your two weeks’ rent in advance and other moving costs and repay it over the lease term.
If you need a short-term loan while you wait for your bond refund, RentBond also has the option of borrowing the funds for up to 21 days at no cost. So, if you receive your bond refund and pay back your RentBond loan in full within the first 21 days, you won’t pay interest or any other costs.
Reviewed: RentBond’s 21-day interest-free period
Jessica from Dandenong, Victoria, found the perfect rental property, but the funds from selling her house still hadn’t arrived, and she was relying on them to help pay her rental bond.
“I’d applied for early release of the sale funds, but they still hadn’t arrived, and I didn’t want to lose the property,” she said. “When I saw that the RentBond product was completely free for 21 days, it immediately appealed to me and suited my situation perfectly.”
“I also needed a new fridge for the rental property, so I was able to borrow that on top of the bond, which was fantastic. The entire process was so quick and easy, I’ve already recommended my friend to use it, and I would definitely use RentBond again in the future.”
After finding a new rental property, D.Daniels from Wollstonecraft, NSW came across the 21-day interest and fee-free bond loan – a service she’d never seen before, but it really appealed to her.
“We’re sensible with money and were moving into a cheaper place to save on rent,” she said. “We were happy to use the bond loan to help cover the full cost of our new rental bond, knowing that we could budget carefully and repay it within the 21 days so we didn’t incur any costs whatsoever. We always prefer to save for things, but I would use this service again if that wasn’t possible – it’s a great product for responsible borrowers.
How does the interest-free period work?
Example 1: You borrow $3,000 and repay it in full on day 21 – the loan is completely interest and fee-free.
Example 2: You borrow $3,000 and repay $2,000 within 21 days. The fees and charges are reduced proportionally to reflect the unpaid balance, and the remaining $1,000 continues as a standard RentBond loan.
Example 3: You borrow $3,000 and pay it back over 6 months – The loan is treated as a standard RentBond loan. Interest, fees and charges apply.
Applying is easy and quick! Paying your rental bond in smaller instalments lets you save money for more important things, like enjoying your new home.
How does RentBond work?
We’ve made it easy to apply for RentBond. When you’re ready, complete an application for a bond loan at rent.com.au. Once approved and your contract has been accepted, your loan will be paid to your agent or direct to your bank account. That’s it!
You (as the new tenant) will then pay the instalments until the loan has been paid in full.
Why RentBond is so easy
- Quick online approval for eligible applicants
- Pay it back in 21 days and pay no interest (or other costs)
- Flexible repayment options that align with your pay cycle
- Borrow from $500 up to $10,000
- Borrow enough to cover just the bond or to cover your other moving costs too.
Why RentBond works
Coming up with funds to cover a rental bond, rent in advance, and other moving costs is a common struggle for renters – especially when waiting for their bond to be returned from their previous lease.
RentBond solves this problem. It’s a smart, fast and simple solution to help pay your bond and moving costs and free up some cash during your move.
Improve your credit score with RentBond
Did you know that RentBond can actually help to improve your credit score? When you pay off your RentBond on time, your credit score can improve because Fair Go Finance reports positive payment history.
In fact, 62% of RentBond customers have experienced a positive change in their credit score after successfully applying for and then paying back their RentBond loan.