Make the move happen

At Rapid Loans, when you apply for a Rental Bond Loan, you are applying for one of our personal loan products, which can be used to help cover rental bond and moving-related expenses, subject to our credit eligibility criteria and approval.

What is a Rental Bond Loan?

If you didn’t know already, a rental bond is a form of security deposit that’s paid at the start of a tenancy agreement by renters. However, with rents continuously rising, paying a rental bond at the start of a new lease can leave a dent in your wallet.

This is where a rental bond loan comes in–it’s a convenient way to cover the cost of your bond, removalists, cleaning and anything else related to your move! It’s ideal if you need a little help with the upfront costs and don’t want to worry about digging into your savings or waiting for payday. 

Whether you’re moving into a high-rise city apartment or a cosy suburban home, rental bond loans make it easier to secure your new home.

What Do I Need to Know Before Applying For a Rental Bond Loan?

If you’ve been thinking about whether you can get a bond loan for a private rental, here are a few things to keep in mind before starting to pack your boxes. First, you’ll need to make sure that you meet the basic eligibility criteria, such as being over the age of 18. Lenders will also check your financial situation including your income, employment status and credit history. 

As responsible lenders, we’ll assess your application against our credit eligibility criteria to determine whether you’re eligible for one of our loan products. We’ll also ensure that you understand the loan amount, loan terms, repayment schedule and applicable interest so you can make an informed decision. This will put a halt to any surprises down the road with your loan for bond and rent.

Once you’ve been approved and received, paying for your bond is usually done through the Online Bond Lodgement service provided by the RTA and your property agent will guide you through this process.

The bond money is held with the RTA for the entirety of the lease and then paid back when you move out; provided no money is owed for rent, damages to the property or other costs.

How Can I Get a Rental Bond Loan?

Applying for a rental bond loan with Rapid Loans is straightforward. Get started by filling out our simple online form with your details, upload your important documents via our secure platform, and we’ll be in touch once we’ve reviewed your application. 

If your application is approved and your loan is settled, we’ll arrange the transfer of funds as quickly as possible. In many cases, funds may be available on the same business day, depending on approval timing and your financial institution.  

Why Choose Rapid Loans for Your Rental Bond Loan?

Moving into a new rental can come with upfront costs, but covering your bond doesn’t have to add extra stress. Our process is designed to be fast and stress-free, so you can focus on the exciting parts of moving, like decorating your new place and trying out your new neighbourhood cafe. At Rapid, our personal loans range from $2,001 to $45,000, giving you the flexibility to cover your rental bond and other moving expenses if needed. With fixed repayments and loan terms from 12 to 60 months, you’ll know exactly what you’re paying each month, making it easier to budget with confidence. Plus, if you’re in a position to pay off your loan early, you can do so without any early repayment fees.