Instant Finance provides the FAST $500 loan product as a promotional offering to introduce new and existing customers to our products and services. The FAST $500 is specifically designed to help customers to avoid the trap of the Pay-Day loan cycle by spreading a small urgent need over a slightly longer period so they can afford the required repayments as a part of their normal weekly expenses.
Terms & Conditions
Instant Finance’s normal Terms and Conditions of approval and responsible lending assessment apply. The following special Terms and Conditions apply to FAST $500 applications and loans.
The FAST $500 loan product is available during limited promotional periods.
FAST $500 loans are only available to be drawn down during the stated period.
Customers may have only one FAST $500 loan with an outstanding balance at any time.
All FAST $500 loans are for a Principal Sum of $500, plus the Establishment Fee.
Interest Rate: 0.00%pa
Default Interest Rate: 39.95%pa
Default interest will be charged on any overdue loan payments while they remain unpaid.
Establishment Fee: $95.00
This is a contribution towards the cost of assessing and processing approved loan applications.
Administration Fee: $0.00
This is a contribution towards the costs of ongoing maintenance/processing of a loan.
FAST $500 loans are unsecured. If a customer does not qualify for an unsecured loan they may be offered a secured loan under Instant Finance’s normal lending terms and conditions.
Loan Term: Maximum of 92 Days
This equates to 13 weeks, or 6 fortnights or 3 months.
FAST $500 loans are required to be repaid by equal instalments over the 13 week, 6 fortnight, or 3 month loan terms as we may agree.
30 Minute Approval*:
Once you have provided us with all of the required information to assess your application we will provide an answer within 30 minutes. Loans are available to be drawn down within our normal business hours.
*NOTE: every effort will be made to meet this response time but it is dependant upon receiving all of the required information to process individual applications.
This includes all of the information on our standard application form together with proof of address income employment and/or benefit qualification details. If you are not already an Instant Finance customer, or if identity documentation is out of date, then we will require to sight and copy your current government issued photo identification (Drivers License or Passport).