FAQs

Who can apply?

To apply you must be over 21 years old, have a regular form of income from a verifiable source and be able to provide 100 points of ID.

We aim to call all applicants within 24 hours of applying. If you need to update your phone number, please email [email protected]. Please note our office hours are 9am – 5pm Monday – Friday. If you contact us out of office hours we will get back to you on the next available business day.

Along with your ID, we also require your most recent 90-days banking transaction history which can be provided by completing the banking section of the application. In some cases we may also need an Income Statement from Centrelink or a recent Payslip. 

We only accept loan applications online via our online application form on our website.  

City Finance have real people assessing your applications to ensure we get the best outcome for you.
We understand the importance of thoroughly reviewing your information and occasionally we may identify certain details that require verification before we can approve your application. This process may take some time, but rest assured that we will keep you informed about the progress of your application. It is recommended to keep your phone nearby and regularly check your email inbox for any updates regarding your application.

Our small loans (‘SACC’) of $500 to $2,000 incur a 20% establishment fee and a monthly maitenance fee of 4% per month.

Our medium loans (‘MACC’) of $2,001 to $5,000 incur a $400 establishment fee and interest at 48% per annum.

If you miss a payment, a dishonour fee will apply.

For example, a loan amount of $4500 over 52 weeks has fees and interest totalling $1,687.14 consisting of a $400 establishment fee and interest of $1,287.14. $6,187.14 total repayable in 52 weekly instalments of $118.98.

Our online application is our quickest and easiest way to apply. You can always contact us here or call us on 07 3458 9200.

We aim to contact all applicants within 24 hours of applying. If you need to update your phone number or email address, please email [email protected]. Please note our office hours are 9am – 5pm Monday – Friday. If you contact us out of office hours we will get back to you on the next available business day.

Yes, you can apply for a loan with us after starting a new job if you have been in your new job for at least one month and have received two full wage payments into your bank account.

Yes, you can apply for a loan if your only income source is from Centrelink. We will use your Centrelink income to assess whether the loan repayments will be affordable, and check that you fulfil our other lending criteria.

No, we cannot assist you if you do not have internet banking.

During the application process, we use secure third-party services that allow you to share your banking transactions with us. You will need an internet banking login (user ID and password) to do this. We do not accept bank statements by other methods, such as PDF or screenshots.

City Finance offers loans ranging from $500 to $5,000

Yes, you can apply for a loan with us if you have other financial commitments already. In many cases we will offer you a loan that pays off your existing loan, and then provides you with additional funds.

We are committed to responsible lending. Once you submit an application, we will conduct a credit assessment, where we will verify your latest income and expenditure levels.

In some cases we won’t be able to offer you another loan. Typical reasons for this can include:

  • The loan repayments on a further loan may exceed the maximum allowed under government regulations.
  • There’s a notable frequency of reversed payments in the bank account within the last 90 days.
  • Income is insufficient to cover both living expenses and loan repayments.

Here’s why your application may be rejected or declined.
There are several potential reasons why your application may not have been successful this time. Here are some of the most common reasons for declining an application;

  • New applicants under 21 years old are not eligible
  • New applicants under 30, who are solely reliant on Centrelink Income are not eligible.
  • Having existing loan/s that you are struggling to repay
  • If you already have several loans that you are paying back
  • If you tend to withdraw your income from your account on the same day you are paid
  • If you don’t have a high enough income to afford your expenses & an additional loan repayment
  • If you have a recent history of poor credit—such as being currently bankrupt, participating in a Part 9 debt agreement, having defaults listed by other lenders, or holding a low credit score —these factors can impact the outcome of your application.

No, you do not qualify to apply with us if you have an active Part 9 (IX) Debt Agreement, or were discharged from one less than 12 months ago.

To receive a City Finance loan, you must be an Australian citizen or permanent resident of Australia.

No, we do not offer joint loan applications or guarantor loan applications.

We are able to approve applications even when the applicant considers themself to have ‘bad credit’. That’s because we consider a broad range of factors and just go beyond an applicant’s credit score. We will however not approve loans where the applicant has become insolvent (bankruptcy or Part 9) within the last 12 months, intends to file for insolvency, or has a registered default with an Australian lender in the last 5 years. If you are an existing City Finance customer, we will also consider your previous payment history.

Our customers live all over Australia and have a range of financial circumstances. We focus on understanding the financial situation of every applicant rather than just their credit score.
To qualify for a City Finance loan you must:

  • Be an Australian citizen or permanent resident
    Be a minimum of 21 years old
  • Have regular income from employment or Centrelink (or both)
    Have a minimum monthly income of at least $1,580
  • Have no outstanding default to an Australian lender in the past 5 years
    Not be insolvent (bankrupt or Part 9), have been discharged from insolvency within the last 12 months, or have an intention to file for insolvency
  • Have no reversed loan payments within the last 90 days (that were not cured)
  • Be able to provide identity document details (such as a passport or drivers licence)
  • Be able to log into an Australian bank account

City Finance is a 100% online lender so you can submit an application 24/7, 365 days a year. Our friendly staff will be able to assess your application during our staffed hours of 9-5 AEST Monday to Friday. You can apply for a loan through our online application form in as little as 5 minutes.

The application form will ask you for information that you should know or have easy access to. We are required by law for our systems to perform a review of the last 90 days transactions in your bank account. We will provide you with a secure link to facilitate this. You’ll need to have your internet banking details handy. You will also need to provide details that will allow us to verify your identity, such as a passport or Medicare card number.

Once you’ve submitted your loan application, we’ll send you a confirmation email and SMS to let you know that it has been received. You should receive an answer within 3-4 business hours.

If your loan has been pre-approved, an agent from our friendly lending team will contact you to go through some final details and finalise your loan. You will then be sent a link to sign your agreement, and the funds will be in your account soon after the contract is signed.

It takes around 5 minutes to complete a loan application.

Once you’ve been approved and have accepted our offer by signing your digital contract, we automatically attempt to release the money to your bank account. Most of our customers have a New Payments Platform (NPP) bank account (such as Westpac, ANZ, NAB, CBA, Suncorp) and receive funds within minutes.

For customers without an NPP-enabled bank account (or the instant payment fails), the money will be available at the end of each business day.

All lenders are required by law to verify income and expenditure information, to make sure that the loans we provide are affordable and appropriate to your circumstances.

If we are unable to assist you, we will notify you via email that your application has been declined. We recommend waiting at least 14 days before submitting a new application.

We aim to provide a response within 3-4 business hours of your application, however sometimes it can take longer to process when we are receiving high volumes of applications. Whatever the outcome of your application, we will always communicate with you. We may try contacting you via phone call, text message or email.

If it has been longer than 24 hours or 1 full business day since you submitted your application, and you have not received a response, please feel free to contact us. If you apply after 5pm AEST on a Friday, or on the weekend, you will receive an answer on the following Monday.

We aim to provide a response within 3-4 business hours of your application, however sometimes it can take longer to process when we are receiving high volumes of applications. Whatever the outcome of your application, we will always communicate with you. If it has been longer than 24 hours / 1 full business day since you submitted your application, and have not received a response, please feel free to contact us. If you apply after 5pm AEST on a Friday, or on the weekend, you will receive an answer on the following Monday.

We have a legal obligation to verify your identity before we can provide services to you. We also have obligations to collect other information about you to comply with anti-money laundering and counter-terrorism financing legislation.

If your application is approved, we will email you the details of your loan offer. The email will prompt you to login into our customer portal where you can view your contract. If you are satisfied with the terms, you will be able to sign the contract digitally using the link we send to you.

You can request a loan statement through the City Finance customer portal. Under “Current Loans” click “Request statement” and your account statement will be emailed to your nominated email address within 24 business hours

How do I change or postpone a payment?

If you know you will not be able to make your upcoming scheduled payment, please call us on 07 3458 9200 as soon as possible, or submit a form here and we’ll get back to you.

Repayments on your loan are automatically set up to be processed via direct debit from your bank account. We will normally set up the payment dates to match the dates you receive your income. When you set up your loan you will choose either weekly, fortnightly or monthly repayments.

If you do not leave sufficient funds in your nominated bank account and we are unable to take our payment, then you will be charged a fee. These fees can be avoided by contacting us 48 hours prior to your payment date and chatting to our staff.

The easiest way to manage your loan is through the City Finance customer portal. You can access the portal by clicking here. Log into the portal to check your loan balance and loan contract, request loan statements, make extra repayments, or apply for a new loan.

The easiest way to manage your loan is through the City Finance customer portal. Log into the portal to check your loan balance and loan contract, request loan statements, or make extra loan repayments.

If you would like to change your repayment schedule or update your bank account details you can reach our friendly payments team on 07 3458 9200 or [email protected]

Yes, you can! We have three options for you to pay out your loan early:

You can pay out your loan by logging into our customer portal
https://portal.cityfinance.com.au/sign_in
You can call us and make an instant payment over the phone or online with your debit card
https://city-finance.pay.ezidebit.com.au
Or you can deposit into our account using our BSB and account number.

ANZ BANK
BSB: 014730

ACCOUNT: 292393044

REFERENCE: MOBILE NUMBER

You may be eligible to apply for additional credit with us. We have several options which include providing an additional loan, or refinancing your existing loan. Approvals are subject to affordability, credit lending criteria and repayment history.

Yes, you can!

You have three easy options to pay out your loan early:

1. Direct deposit to our ANZ account

Use the details below:

* BSB: 014-730

* Account Number: 292 393 044

* Reference: Your contract number (starting with LAI-)

2. Make a card payment via Ezidebit

Use this secure link to pay by card:
https://city-finance.pay.ezidebit.com.au/

3. Pay using your unique PayID

Your PayID is: [email protected]

Example: [email protected]

This can severely affect your future lending options not only City Finance but other finance companies too. Not paying money that you borrowed is a breach of your loan contract and a default can be listed on your credit report. This means other lenders will be able to see your poor history.

We know it can be to uncomfortable to get in contact when you are struggling with your finances but it is always better to call us before your debt reaches this stage so we can work out a plan to help you.

If you want to adjust your loan repayments, you can submit a request to our payments team by calling 07 3458 9200 or [email protected].

In some situations, we will agree an arrangement where you make reduced, or nil payments for a defined period. In this situation, your loan term will be extended beyond the original maturity date, and the total amount payable may increase due to additional fees or interest charges.

If you’d like to know your outstanding loan balance, you can find this out quickly and easily by logging into the City Finance customer portal. Under “Current loans” click “Check Balance” and the current balance of your loan will be displayed. If you are unable to access the portal, please contact the payments team on 07 3458 9200.

When you sign your digital contract, a copy of your loan contract is emailed to you in the “Signed Contract” email. When accepting your contract in the City Finance customer portal you can download the contract as a PDF.

Once you’ve been approved for a loan product, your account is automatically set up for you.

For new customers you will receive the email “Welcome to City Finance Consumer Loans” which will direct you to our City Finance customer portal. Please use your nominated email address as the username and create a password between 6-10 characters with 1 capital letter and 1 number.

For existing customers, the City Finance customer portal can be accessed through the ‘login’ section of our website or by clicking on this link. Please use your email address and password to login.

Can’t remember your password? That’s okay use this link and an email will be sent to your nominated email address for you to create a new password.

Can’t remember your password? That’s okay, use this link and an email will be sent to your nominated email address for you to create a new password.

If you end up missing a payment deadline and you did not contact us beforehand, you will likely be charged a missed payment fee. If you think you’re going to miss a repayment or you already have, contact our customer service team at [email protected] to discuss your options.

Our customer service team exist to make your life easier, and that’s what they’ll do. It’s important that you contact them and communicate with them so they can help you. Please consider that any changes to the loan schedule may extend the term of your loan and result in additional interest or fees being applicable.

Does City Finance perform a credit check during an application?


We use the information you provide in the online application form as well as information on your bank statements to make sure that you qualify for a loan product during our credit assessment. If you don’t qualify, your application will be declined without a credit check being conducted.

Once we have verified that you meet our non-credit report-related criteria, we do perform a credit check as part of our final credit assessment, where an inquiry will be left on your credit file.

If you do have a default or missed payment on your credit file, don’t worry. In many cases we will still be able to provide a loan, depending on the circumstances.

Generally ranging from 0 to 1,200, a credit score, also known as a credit rating, is a number calculated by a credit bureau, based on information provided to them by companies such as lenders and utility companies.

The higher your score, the better your credit profile, and the more likely you will be able to access credit.

No, you do not qualify to apply with us if you are currently bankrupt, or were discharged from bankruptcy less than 12 months ago. This includes Part 9 (IX) Debt Agreements.

By submitting an application, you authorise City Finance to obtain a copy of your full credit file from any credit bureau.

Other lenders will be able to see that you applied for a loan. Making multiple loan applications within a short period of time can potentially affect your credit score.

For more information refer to this information page provided by our credit bureau partner Experian .

How do I contact someone from the City Finance service team?

 

Applying for financial hardship or being approved for a hardship variation will not impact your credit score. A Financial Hardship Indicator (FHI) will appear on your credit report and remain there for one year if a hardship variation is approved. This will not impact your credit score, but this will be visible to other lenders, who may take this into consideration.

Missing payments, or having defaults registered at the bureau, will have a bigger impact on your credit score, and will be visible to other lenders longer, than having a FHI registered. Financial Rights Legal Centre (FRLC) has an insightful fact sheet on how your credit may or may not be affected by financial hardship.

Depending on your circumstances, you may find the following financial hardship resources helpful:

National Debt Helpline: 1800 007 007
Small Business Debt Helpline: 1800 413 828
Find a financial counsellor near you
Australian Banking Association – financial hardship contacts.

What loan products does City Finance offer?

City Finance currently offer two (2) loan products:

Small Amount Credit Contract from $500 to $2000 (‘SACC’ small amount credit contract)

Medium loan from $2100 to $5000 (‘MACC’ medium amount credit contract):

City Finance takes the security of your information extremely seriously. We work hard to protect your personal information from unauthorised access. We also protect against unauthorised disclosure, alteration or destruction of information we hold. We only capture and store data relating to your application with your consent. All our systems are encrypted and scanned daily.

We use industry leading bank statement provider; Illion Open Data Solutions, to verify your last 90 days of transaction history. None of your login credentials are recorded or stored. Illion is ISO 27001 certified and strictly adheres to the internation standard of Information Security Management Systems.

City Finance offers two (2) loan produts:

Small Amount Credit Contracts from $500 to $2000 and Medium Amount Credit Contracts from $2100 to $5000 have a term of between 12 and 52 weeks.

You can repay your loan early at any time, and if you do so there are no early payout fees.

You can select your preferred loan term and repayment amount when you apply. Once your application has been reviewed, the approvals team will work with you to settle on a repayment amount that you can afford.

Yes, you can cancel your loan application at any point. Simply reply to any SMS or email we have sent you to let us know that you would like to withdraw your application. Alternatively you can email us as [email protected] or call us on 07 3458 9200 Monday – Friday 9am – 5pm AEST.

We only offer fixed-rate loans.

Where is City Finance based?

City Finance is 100% Australian-owned and operated. We are based in Brisbane.

We only offer our loan products 100% nationally across Australia.

Will applying for financial hardship affect my credit score?

Applying for financial hardship or being approved for a hardship variation will not impact your credit score. A Financial Hardship Indicator (FHI) will appear on your credit report and remain there for one year if a hardship variation is approved. This will not impact your credit score, but this will be visible to other lenders, who may take this into consideration.

Missing payments, or having defaults registered at the bureau, will have a bigger impact on your credit score, and will be visible to other lenders longer, than having a FHI registered. Financial Rights Legal Centre (FRLC) has an insightful fact sheet on how your credit may or may not be affected by financial hardship.

Depending on your circumstances, you may find the following financial hardship resources helpful:

National Debt Helpline: 1800 007 007
Small Business Debt Helpline: 1800 413 828
Find a financial counsellor near you
Australian Banking Association – financial hardship contacts.