So, you’ve found a great rental property, been approved and now you have to pay the rental bond.

Don’t have the cash you need? Don’t worry!

At Spotter, we make it easy to apply and get approved for a bond loan, so give us a call today!

What is a bond loan?

If you’re moving in to a rental property, you’ll usually need to pay a bond.

A rental bond is a sum of money that you pay to the Residential Tenancies Bond Authority (RTBA). Each state has an RTBA. Their role is to hold the bond on behalf of you (the renter), and the landlord.

The bond acts like insurance for the landlord. If at the end of your tenancy, you move out and have left the property in poor condition (unclean, damaged etc.) the landlord can apply to the RTBA for part of your rental bond to pay for cleaning, repair etc.

The landlord can also use it to claim unpaid rent.

A rental bond is usually an amount equal to 4 weeks rent.

In addition to the bond you will normally need to pay 4 weeks rent in advance to the landlord.

How much can I borrow with a bond loan?

Spotter can provide you with a loan of between $500 and $5,000 for your bond loan.

That’s enough to cover a rental property of up to $1,250 per week (4 weeks x $1,250 = $5,000).

How long do I have to repay a bond loan?

Typically, between 3 months and 12 months.

How can I apply for a bond loan?

Applying is simple. Just get in touch with us today and we’ll walk you through the application process. We need some basic information and documentation from you.

We’ll aim to have your loan approved within 1 hour of you returning the documentation to us, and to have the money in your account 24 hours after that.

What documentation do I need for a bond loan?

Generally, you’ll need to provide us with:

  • Bank statements
  • Payslips
  • Copies of bills or other contracts

Are bond loans popular?

Today many Australians are choosing to rent rather than buy. As property prices continue to climb, renting may enable you to live in the area you like, not just the area you can afford.

Rental payments are often lower than mortgage repayments, and by renting you can move around to different areas and experience living in new places, without committing to a mortgage.

A bond loan can help you get established in the rental property you love and give you time to repay the loan while you’re living in the property.

A bond loan may also help you rent a better property because you’re able to afford a higher bond.

Don’t wait. Apply for a bond loan today!

Competition for good rental properties is intense.

Don’t miss out on your dream property because you couldn’t get the rental bond together. Apply today so you’ve got money for your rental bond and you can start getting ready for your move!

Apply to borrow up to $5000 now!

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Here's what a loan might look like

Here's what a small loan might look like...

You're after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.

Here's what a medium loan might look like...

You're after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.

Small Loan Example

$1,000

Loan Amount

  • 13XRepayments
  • $110.77=Per Fortnight
  • $1,440.00Total Payments
Loan length:26 weeks

Medium Loan Example

$2,500

Loan Amount

  • 104XRepayments
  • $43.19=Per Week
  • $4,490.88Total Payments
Loan length:104 weeks

In the above example You'll pay:

  • Loan Amount Financed:$1,000
  • Establishment Fee:$200(set by NCCP at 20% of the loan amount)
  • Monthly Permitted Fee:$40per month charged on the anniversary of the loan
  • Amount of Credit of the Loan:$1,240
  • Total Amount of Interest Payable:NIL
  • Direct Debit Fees:$25.74($0.99 per transaction)
  • Total amount of repayments:$1,440.00
  • Nominal Percentage Rate (Interest) per annum:0% as defined by NCCP
  • Comparison Rate: 160.0571% as defined by NCCP

In the above example You'll pay:

  • Loan Amount Financed:$2,500
  • Establishment fee:$400(Set by NCCP)
  • Amount of Credit of the Loan:$2,900
  • Total Amount of Interest Payable:1,590.86
  • Repayments:103 x $43.19 + $42.31(a final payment)
  • Total amount of repayments:$4,490.88
  • Nominal Percentage Rate (Interest) per annum:48% as defined by NCCP
  • Comparison Rate: 65.5138% as defined by NCCP

WARNING: This comparison rate is accurate and applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

See our fullFee Statement for fee details.

"These examples are provided for illustrative purposes only. They do not represent an offer from Rate Detective Pty Ltd. A Spotter Loan is subject to the completion of an application, which is subject to responsible lending checks that take your personal needs and financial circumstances into account."

Minimum repayment term 90 days, maximum repayment term 12 months.