Moving to a new rental property in NSW? With our Personal Loans, you can get help paying for rental bonds, moving costs and more.
*Subject to lending criteria, T's and C's'
*Subject to lending criteria, T's and C's'
A rental bond is a security deposit paid by renters to either the property manager or the landlord at the start of a tenancy agreement. Rental bonds can cost thousands of dollars if they're not split between multiple people and usually need to be paid upfront.
A Rental Bond Personal Loan with Jacaranda Finance can allow you to pay that deposit quickly without dipping into your hard-earned savings. Instead, you can repay a loan from $3,000 over manageable instalments starting from 25 months.
We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don't have time to waste on needless paperwork.
That's why Jacaranda Finance makes applying for a Personal Loan to cover rental bonds and moving expenses simple with our fast, 100% online application.
Check if you qualify without affecting your credit score today.
Rental prices in New South Wales are very high, especially in the state's capital Sydney.
According to the Domain Rental Report for March 2024:
That's much more expensive than the rest of the country. In comparison, Domain reported that the median weekly rent across the combined capital cities was $630 for houses and $620 for units.
Naturally, this makes paying a rental bond in New South Wales quite expensive, too...
According to NSW legislation, the maximum bond a tenant can be asked to pay is equal to four weeks' rent. Using those median rental figures, the typical bond in NSW as of March 2024 could be $3,000.
If you were to add two weeks' rent in advance to that, which many tenants often need to pay, that figure could rise to as much as $4,500!
That's a huge amount of money for most people to pay upfront, even if they're splitting it between two or more people. When you factor in other costs like moving, buying new furniture, paying for a bond cleaner and more, you could be looking at parting with several thousand dollars.
To alleviate some of the pressures of moving, consider applying for a Personal Loan with Jacaranda Finance.
Below is more information on rental bonds in each Australian state/territory and how to get a personal loan for these costs.
Are you a renter in New South Wales and unsure about how the bond process works? We've compiled some key pieces of information that may answer your questions.
Please refer to the resources tab at the end for official sources of information on paying a rental bond in New South Wales.
In NSW, you can pay the bond as either a lump sum or in instalments if your landlord agrees. This payment can be made directly to the landlord or agent, who will then lodge it with NSW Fair Trading or through the Rental Bonds Online (RBO) service. You should not be asked to pay a bond until after the lease has been signed.
Your rental agreement should specify the bank details for paying your bond. You can make payments via Visa, Mastercard, BPAY, or bank transfer.
The landlord or agent must deposit the bond with NSW Fair Trading. Once deposited, Fair Trading will send you a deposit notice and a rental bond number, which you should keep for when your lease ends.
At the end of your tenancy, the landlord or agent will inspect the property to ensure it is returned in the same condition as when you moved in. If there are no issues, the bond will be released through NSW Fair Trading and deposited directly into your bank account within 14 days.
You can also claim the bond yourself using the NSW Fair Trading Bond Claim Form or via Rental Bonds Online if that’s how you lodged your bond initially. If you disagree with the final amount offered by your landlord or agent, you can still make a claim.
Did you know that, according to NSW Fair Trading, approximately 25% of tenants don’t get their full bond back when moving out of a rental property?
In addition to any rent you may still owe, the landlord or agent can generally claim the following from the bond:
For any claim the landlord wishes to make from the bond, they must provide you with the following within seven days of making the claim:
A tenant can dispute these claims, as we explore below.
According to the NSW Tenants' Union, if the landlord or agent disputes your claim, they must apply to the NSW Civil and Administrative Tribunal (NCAT) within 14 days of your submission.
You can do the same if you disagree with the final amount of money they wish to claim. Providing as many photos as possible from before and after your move-in and move-out will help you succeed in your claim.
The NSW Residential Tenancies Act 2010 and Residential Tenancies Regulation 2019 outline all your legal rights as a tenant in NSW, including information about rental bonds. For additional support, the Tenants' Union of New South Wales (TUNSW) is the main advocacy group for tenants in NSW and can provide legal advice, assistance and information to tenants.
TUNSW also recommends the following points of contact:
Our loans are designed to be fast, fair, and, above all, affordable, with no hidden fees. See the table below for a quick guide to our charges, or visit our fees page to learn more. For detailed information about who our products are designed for, please review our Target Market Determinations.
Worried about being denied a loan? No stress! At Jacaranda, QualifyCheck lets you check if you qualify without affecting your credit score!
Making all your repayments to us on time could steadily improve your credit score and positively impact your ability to get credit in the future.
Worried about being denied a loan? No stress! At Jacaranda, QualifyCheck lets you check if you qualify without affecting your credit score!
Making all your repayments to us on time could steadily improve your credit score and positively impact your ability to get credit in the future.
A personal loan is a fixed-term loan that allows you to borrow a set amount of money and repay it through regular instalments. Our online application process is designed to be fast and straightforward. Repayments remain consistent throughout the loan term so you can plan your budget with confidence.
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By submitting a full application for a personal loan, you are authorising a hard credit check. This means that other lenders will be able to see that you applied for a loan and could impact your credit score. Before you submit a full application with Jacaranda Finance, you can check if you qualify with no impact on your credit score*. This is called a soft credit check, and is only visible on your credit report to you.
How to check if you qualify for a secured personal loan?
If you’re considering applying for a loan with Jacaranda Finance, you can check if you qualify with no impact on your credit score*.
No, checking if you qualify uses a “soft” credit check meaning it does not impact your credit score or appear on your credit file to anyone but you. We recommend checking your eligibility before applying for a loan where possible to reduce the number of applications on your credit report.
To be assessed for a loan from Jacaranda Finance, you must meet the following basic eligibility criteria:
If you are unsure whether you’re eligible, you can check if you qualify with no impact on your credit score*.
We offer two main products at Jacaranda Finance:
For detailed information about who our products are designed for, please review our Target Market Determinations. Our Loan Repayment Calculator and our guide to Jacaranda Finance’s interest rates & fees could help you to predict your repayments before applying.
Using our loan repayment calculator you can estimate your repayments before applying.
Missed Payment Fees
For every missed payment, a fee will be applied. This cost is added to the account balance and can be paid with the next repayment cycle. If you’re concerned you’ll miss a repayment before the next due date, please contact our customer support team as soon as possible.
You can pay your loan back at any time at no extra cost. That means no early exit or payout fees.
Once you’ve been approved and have accepted your loan contract, we’ll automatically attempt to release the money to your account. Most customers get paid in 60 seconds3.
Jacaranda Finance's Express Personal Loan product is typically suited for larger expenses up to $25,000, but you can apply for up to $10,000 unsecured.
Our Personal Loans have fixed interest rates and you may use them for a variety of reasons:
$3,000 - $25,000
