Our Rental Expense Loan is the easiest way to handle the upfront costs of moving into a new rental. You can use it for the deposit, the first rent payment, or any other rent related expenses.
Apply online in minutes, and MyBond Loans will usually give you an answer within the same business day. Competitive interest rates and flexible repayment schedules make it easier to manage cash flow while you settle into your new home.
Loan Amount applied for: $2,500
This amount is designed to cover typical rental expenses, helping renters to alleviate immediate financial pressures during moving or leasing periods.
Establishment Fee: $300
This fee is financed by us (i.e. added to the loan), ensuring transparency in the total funds disbursed.
The total loan amount then becomes $2,800.
Interest Rate on Rental Loan: 36% Annual Percentage Rate, 48.77% Comparison rate*
The interest is calculated on the outstanding balance, making it crucial for borrowers to consider their repayment timeline and amount.
Net Disbursement Amount Received $2,500
After deducting the establishment fee payable to us from the total loan amount of $2,800,
renters receive a net amount of $2,500, which they can use towards their rental needs.
Repayment Options
We offer structured payments which are designed to offer flexibility, allowing borrowers to align their loan repayments with their income schedule.
Application Process
Applying for a Rental Expense Loan from MyBond Loans is designed to be straightforward and efficient, allowing you to quickly secure funds for rent expenses.
Begin the process by filling out the online application form on the MyBond Loans website.This form will collect basic personal and financial information needed to assess your loan request.
These documents are crucial for the approval your Rental Expense Loan and should be kept ready and accessible when you start your application process.
Once your application and all required documents are submitted, the review process begins. MyBond Loans aims to complete the review and approval process within hours. This timeframe ensures that you will not have to wait long to find out the status of your loan application.
If your application is approved, the loan amount (minus the establishment fee) will be disbursed directly into your bank account.
This allows you to access the funds promptly and use them for your rental needs.
To ensure a smooth application process, you will need to provide the following documents:
A valid driver licence, passport, or national ID card to establish your identity and legal age.
Recent payslips (typically covering the last three months) to verify your income source.
A copy of your recent bank statements that details your financial stability.
Please refer to our Privacy Policy linked below on how we collect, use, store and disclose your personal information.
Once your application and all required documents are submitted, the review process begins. MyBond Loans aims to complete the review and approval process within the same business day. This timeframe ensures that you will not have to wait long to find out the status of your loan application.
If your application is approved, the loan amount (minus the establishment fee) will be disbursed directly into your bank account.
