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10.09.22
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Maximum charges: 20% Establishment fee and 4% monthly fee (Comparison rate 199.43%) based on $1000 repaid over 6 months. Illustrative example: Loan amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly instalments of $57.60. Maximum charges: 20% Establishment Fee & 4% Monthly Fee. In comparison rate terms, the maximum comparison rate may be as high as 199.43%.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. The information on this web page is general information. The information does not take into account your objectives, financial situation or needs. Credit criteria, fees, charges, terms and conditions apply. Products and rates displayed are subject to the individual borrower's credit assessment. Examples only provide an estimate and are used for illustrative purposes only, not an offer for credit. The amount you can borrow, the interest rate and fees you receive along the product you qualify for may vary.
Viva Payday Loans > City Finance
Last Updated: January 5, 2023

City Finance

City Finance is a loan provider in Australia, having started operations more than 20 years ago. The lender provides cash loans of up to $5,000 with a loan term of up to 104 weeks. The loan service is available both online and at designated branches, with loan amounts capped at $2,000 if applying online and at $5,000 if applying at a branch. Also, loans exceeding $2,000 can only be applied at a branch. City Finance loans can be used to pay for all types of personal expenses including repair work, medical bills, or even to pay for a vacation. 

Types of loans

There are two types of loans being offered by City Finance:

  1. Small Loans, capped at $2,000 with a loan term of up to 52 weeks
  2. Medium Loans, capped at $5,000 with a loan term of up to 104 weeks

The final loan amount is determined based upon the borrower’s credit score and income. Minimum loan term is 17 weeks for all loan types.

Eligibility Criteria

The following eligibility criteria must be met to apply for a City Finance loan. Borrowers must:

  1. Proof of income, including employment and/or benefits information
  2. Show sufficient affordability to make loan repayments
  3. Have a satisfactory credit history

Pros & Cons

Pros:

  1. Fast online application process
  2. Long loan repayment duration results in smaller repayments
  3. Loan amount of up to $5,000 available

Cons:

  1. Loan amounts exceeding $2,000 can only be availed at a branch

Borrowing costs of City Finance loans

City Finance charges a 20% establishment fee and 4% monthly fee on small loans, and $400 establishment fee and APR of 48% on medium loans.

Loan Type Loan Amount  Loan Term Total Repayment Total Borrowing Cost
Small Loans $1,500 16 weeks $2,040 $540
Small Loans $2,000 32 Weeks $3,040 $1,040
Medium Loans $3,000 22 Weeks $4,007.13 $1,007.13
Medium Loans $4,500 52  Weeks $6,186.96 $1,686.96

Information Required To Apply

The following information is required to apply for a City Finance loan:

  1. Loan details, including required amount, required loan term, and loan purpose
  2. Personal information including name, address, and contact information
  3. Bank statements
  4. Budget details including information about income and expenses

How To Apply

Step 1 – Fill out the online application form, or visit the branch 

To access the online application form, log on to cityfinance.com.au, and click on the Apply Now button. 

city finance loans

On the following screen, enter your postcode.

Then, fill out your details as accurately as possible. Once the form is completed, submit it for review.

city finance loans application process

Step 2 – Application review and finalization

Once your application form is received, the lender will contact you to process the application and review submitted information. At this stage, the lender might require you to submit additional documentation as well, if necessary.

Step 3 – Approval and disbursement

If your loan application is approved, the lender will disburse the loan amount. 

FAQs 

  1. What is the maximum amount I can borrow from City Finance?
    The maximum amount available is $5,000.
  2. How long will it take for funds to reach my account after disbursement?
    It may take a few minutes for funds to reach your account after they have been transferred.
  3. Does City Finance approve applicants with a bad credit history?
    Each case is evaluated individually, although a satisfactory credit rating is required to apply.
  4. What can a City Finance loan be used for?
    A City Finance loan can be used to pay for any personal expense.
  5. Does City Finance conduct any credit checks?
    Yes, City Finance conducts a credit check for every loan application.

Lenders Like City Finance

Lender Description
CUA Latitude, or Latitude Financial Services, is a lender in Australia established back in 2015 as a financial service provider, offering loans, credit cards, and insurance products. Loans are available to cover various types of personal expenditures, including car/vehicle purchases, debt consolidation, travel, renovation, and others.
Harmoney Loans Harmoney began operations in Australia back in 2016 as a personal loan provider, with loan amounts falling between $2,000-$70,000. The lender works completely online and allows loan terms between three to five years.
Latitude Loans Latitude, or Latitude Financial Services, is a lender in Australia established back in 2015 as a financial service provider, offering loans, credit cards, and insurance products. Loans are available to cover various types of personal expenditures, including car/vehicle purchases, debt consolidation, travel, renovation, and others.
NAB Personal Loans NAB, or National Australia Bank, is a financial service provider in Australia offering a number of credit products, including personal loans, and banking services to its individual, business, and corporate customers. As far as credit products are concerned, the bank provides credit cards, personal loans, and home loans to its individual customers. Personal loans are available between $5,000-$55,000 for a loan term between 1-7 years. 

Promo Codes

No promo codes are available for City Finance at this time.