Bond Loan VIC

Before you can secure your rental property, you need to pay your rental bond upfront and in full. When you’re moving into a new rental property, the upfront costs can easily jump into thousands of dollars. A bond loan VIC is offered amongst our same day loan products and is designed to cover the cost of your upfront rental costs and allow you to more comfortably repay them over time. You can use our personal loan repayment calculator to work out what kind of repayments you might be looking at for a bond assistance loan.

How a rental bond works

We offer a bond loan VIC with our range of small loans and short term loans which offers you the funds you need to cover your moving costs and allows you to slowly repay your instant loan over time, in manageable monthly or fortnightly repayments. The rental market can be a tough one to be caught in. If you find your dream home in Melbourne or the perfect acreage just outside Ballarat or Geelong, you need to move fast to ensure you win the property. With a bond loan VIC, you’ll have the instant loan you need to lay an immediate deposit on your dream home and beat out the competition. 

When you rent a property – whether privately or through a real estate – there are two big upfront costs you will need to pay in cash to secure your new rental and fast cash loans can help. The first is your advance rent. Depending on your real estate, this may be as much as 4 weeks in advance on your new property. If you are already currently renting, then often that means you will need to pay double rent – over both properties – until your old tenancy ends. You won’t be able to end that tenancy completely until your previous property is completely empty, clean and ready for new tenants to move into. Often the easiest way to ensure that your previous rental is left in tip-top shape is to engage professional services like cleaners and gardeners who take care of all of your end-of-tenancy needs. That way you can concentrate on managing your move and settling into your new property. 

The second upfront cost you will need to pay on a new Victorian rental property is the bond amount. A rental bond is a lump sum amount equating to between 4 and 6 weeks of rent on your new property. This payment is made before you begin your tenancy and held in trust by the RTBA (Rental Tenancies Bond Authority) throughout the length of your renting period. It is a landlord insurance, covering costs associated with a tenancy like damage to the property or the need to have a property professionally cleaned if a previous tenant has not left the property in a clean and tidy state. When you complete your tenancy, your real estate agent or landlord will undertake a final inspection of your property – which you are permitted to attend as well – and take note of any issues they may find. If any amount of money needs to be deducted from your bond payment, both you and the real estate and landlord must agree on all costs. If no money needs to be deducted from your bond payment, then it is returned to you in full within a couple of weeks of your final inspection.

Our personal loan calculator will give you an indicative amount of interest and the total interest payable over the term of your rent assistance loan. You can quickly check your personal loan interest rates to see how much you can save by paying out your personal loan from MyOzmoney ahead of time. We don’t charge our customers early payout fees for our unsecured loans which means that you can use the returned bond amount on your former rental accommodation to chop down the small personal loan you have taken to cover the new bond. Easy loans and quick loans all online, that’s what we offer our customers.

Once the move is finalised and you’re settling into your new apartment or house, it’s probably time for a well-deserved break. Consider our travel loan option for quick loans that offer the opportunity to pay for a much needed break upfront and take advantage of early bird specials. Like your bond loan VIC, you can comfortably repay your unsecured personal loan with easy monthly payments.

If you’re looking for same day loans in Melbourne on a per approved credit balance, consider our line of credit option. Working a bit like a credit card, pre-approved balances are available for between $1,000 and $15,000 which you can draw down on in fast cash advance loans immediately. Cover your moving costs and then, once repaid, draw down again on your line of credit to pay for your holiday.

Specialising in easy applications and quick cash loans, MyOzmoney offers a suite of personal loans in Australia from car loans and boat loans to student loans and renovation loans. Apply for personal loans in Sydney, Brisbane and Melbourne all online.

We are the fast and easy online loans provider that lends to everyone responsibly and flexibly. Apply online now for a bond loan VIC and get an easy loan approved fast, with no unnecessary phone calls or time-consuming paperwork. Just cash loans online made easy. Customers could receive the funds that they’re looking for in their everyday bank account the same day as applying.