Emergency Bond Loan for Bad Credit

Life happens, and sometimes you find yourself in a less than ideal predicament. Perhaps you have to move houses out of nowhere, and you don’t have much money stashed away. In this case, you have no other option but to turn to loans.

However, if you have bad credit, your bank probably won’t take a second glance at your file before rejecting your request for emergency cash loans. For this precise reason, you might consider an emergency bond loan for bad credit, and we’ll help you understand what that is, how it can be useful, and more.

What Is an Emergency Bond Loan for Bad Credit?

A bond loan, also known as a moving house loan or a rental bond loan, is a type of bond that doesn’t involve fees or interest, thanks to the Australian government’s bond assistance, helpful to those with low credit scores. It’s used to pay for rental costs, moving costs, and such expenses, as we’re about to illustrate.

1. Rental Bond/Deposit

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When renting a property, you typically have to pay a rental bond or deposit up front. There may even be extra fees if you’re renting through an agency or an administration. The bond loan can help you with these costs so that you could secure a home. If you need emergency cash loans unemployed no more hassle, apply for one today from Perfect Payday.

If you think that a rental bond shouldn’t be too difficult to pay off, think again. For a property worth less than $700 a week, the bond will amount to the equivalent of four weeks rent maximum, so an emergency bond loan is probably looking really good right now. If you are on centrelink, you can apply for centrelink emergency loan from Perfect Payday.

2. First-Month Rent

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Along with the rental deposit, you have to put down the month’s rent in advance, which is another issue an emergency bond loan can help solve. When you need emergency cash loans Australia, Perfect Payday is here to help.

3. Moving-Related Costs

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With the actual act of moving houses come various expenses, including money for removal vans, temporary accommodation, days-off from work, required repairs, furniture or appliances for a new residence, among other moving costs. Once again, emergency bond loans have your back with that!

Can I Apply for a Rental Bond Loan?

Now that we’ve elaborated what a rental bond loan can do for you, let us go over the minimum requirements that make you eligible to apply for one.

Minimum Requirements:

  • Be 18 years old or older
  • Have an income for no less than three months prior in a personal account
  • Present a bank statement that proves your income

Can I Apply for a Government-Supported Rental Bond Loan?

It probably comes as no surprise that some requirements deem Aussies eligible for bond assistance, and we’re about to tell what they are.

Minimum Requirements:

  • Having no outstanding debts
  • Meeting income limits
  • Having no past applications for rental bonds

How Is an Emergency Bond Loan for Bad Credit Possible?

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The issue with bad credit is that it’s indicative of your history of failing to make your repayments on time, and thus, of your likelihood to do so in the future, which is why credit checks are typically a fundamental step of bond loan approvals.

As indicated by our tests, a poor credit score can make it very difficult for you to obtain mainstream finance, especially from major banks. Nevertheless, don’t despair because it’s still possible to secure a loan if you have bad credit using one of two solutions.

1. Banks

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Some banks consider several factors aside from credit history. They assess your case in a way that highlights your merits and focuses on your current rather than the past relationship with finance, making it possible for you to get a bond loan even with bad credit. Apply today for 1 hour payday loans from Perfect Payday.

2. Lenders

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Our team discovered through using this product that, some lenders will provide you with all sorts of loans despite your low credit score. Still, note that their attitudes towards bad credit aren’t the same, so getting matched with a lender doesn’t guarantee approval but certainly is a step in the right direction.

Of course, the terms of these contracts are usually different from emergency loans bad credit in many respects, evident in their shorter loan terms. Nevertheless, they can be a lifesaver if you’ve found yourself in a tight spot. Moreover, lenders seek to provide a borrower with a suitable loan for their needs and circumstances, and they implement this by following specific rules.


  • Making adequate inquiries into a borrower’s financial situations, along with their loan objectives
  • Confirming that information through credit checks
  • Using all of the previous information to assess the suitability of a particular loan for the borrower

How Much Will a Bond Loan Cost?

This is a valid concern because when you already have bad credit, you don’t want to put yourself in a position where you’re unable to meet your payments again. Therefore, you can estimate the bond loan cost using a bond loan calculator.

Our findings show that, many financial institutions offer online bond loan calculators, which estimate your repayments and total loan costs based on the amount of your loan, interest rate, and loan term, among other variables.

Can I Get a Bond Loan Instantaneously?

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With emergency loans comes a sense of urgency, so instant money is appreciated. We’ll potentially say that it can happen; however, the process consists of several stages, so there might be some waiting time, possibly up to one business day. And the fact that you can fill out an online application speeds up the process.

Tip: To increase your chances of getting your loan on the same day, apply during business hours and don’t miss any necessary information.

What Are the Criteria for a Bond Loan Victoria Bad Credit?

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Let’s take Victoria as an example of a state government. Victoria allows you access to a RentAssist Bond Loan, provided that some specifications are in place.


  • An Australian citizenship/permanent residency in Victoria
  • An asset limit of $13,378
  • A fulfilled weekly income limit
  • Rent that’s less than 55% of your gross weekly income
  • No owned or part-owned property
  • No debts to public housing tenancies


Hopefully, this article has dissected emergency bond loans for bad credit enough so that you can make an informed decision and choose the right bond loan to cover your rental bond, rent, and other moving costs. If you’re an Australian citizen of legal age with sufficient salary and a bank statement to prove it, then you’re already on the right track.

Also, meeting the government’s criteria means you don’t have to worry about fees or interest. That still holds true for bad credit, as some lenders take your current relationship with money into account, instead of dwelling on past hiccups. Ultimately, bond loan conditions can be very different, so you need to consider the best ones for you.

About the Author

Lucy has over a decade of experience in finance. She is currently the content curator here at Perfect Payday.

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