“Am I eligible to apply and be approved for a bond loan?”

If you need a simple and flexible way to pay for your next rental bond, RentBond could be the answer. Paying your rental bond in smaller, monthly instalments lets you save money for more important things, like enjoying your new home.

If you just need a short-term loan to cover your rental deposit while you wait for your bond refund, RentBond lets you borrow 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.

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 – fees and charges are reduced proportionally to reflect the unpaid balance and the remaining $1,000 continues on 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.

Reviewed: RentBond’s 21-day interest-free period

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.

Who qualifies for RentBond?

Once you make an application for a RentBond bond loan, we’ll assess it on a range of factors, including your income, your ability to repay the loan, and your past credit history. As a guide, these are some of the basic requirements you’ll need to meet:

  • Be 18 years of age or older and living in Australia
  • Have not entered into bankruptcy or a part 9 agreement within the last 12 months
  • Be willing to provide your bank statements online. (Please note, bank statements can only be submitted via our secure online service).

Need preapproval?

You can apply and get conditionally approved for RentBond before you’re ready to move. When you’re ready to move and need the funds, you’ll be asked to complete your conditionally approved application.

Don’t have a home yet? Don’t stress. You can complete a RentBond application without having been approved for a property.

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