How It Works

What are the different types of products?

Short Term - 4 fortnightly installments (all new customers)

Short Term - 8 weekly installments (weekly income)

Short Term - 2 monthly installments (monthly income)

Short Term - 4 fortnightly installments (fortnightly income)

Short Term - 4 monthly installments (monthly income)


How can I apply for a loan?

  1. Click on the Apply Now button and it will open up the online application form. Make sure you provide all the requested details as indicated on the form. This will ensure your application is assessed in a timely manner and you are advised of an outcome within 12-24 hours.

  2. You must upload two most recent pay slips. This means the last two pay slips you received before you completed the online application form.

  3. Two forms of Identification must also be provided, preferably your TIN and Voter card. If the address you provide in your application does not match the one on your Voter card, you must also provide proof of your residential address.

  4. A copy of your most recent bank statement is also required. Usually, banks provide three monthly bank statements, however you must also provide a copy of your account up to the date of your application. This can be downloaded via your internet banking.

What are the fees?

A 20% establishment fee is added to your loan, if approved. The total loan is = amount borrowed + 20% (varies depending on the amount approved). A $10 late payment is charged if payment is not received as per the dates on the agreement.

How do I repay the loan?

Repayments are made in equal weekly, fortnightly, bi-monthly or monthly over two months by direct deductions via Internet Banking (IB) schedule or via your payroll, depending on your pay cycle. A $10 late payment fee is added to your account each time your payment is delayed.

Then what happens?

If all your documents have been provided correctly, you will be advised of an outcome within 24-48 hours. A loan agreement explaining the amount approved, and repayment terms will be emailed to you. If you accept the terms, you will need to sign the agreement and return it to Upstart Lending via email, together with a copy of your bank card and IB schedule transfer or a confirmation letter from your payroll.

It is important that you contact Upstart Lending if you are unable to pay on time. You may be able to arrange new repayment terms or seek an extension. More importantly you would save yourself the embarrassment of being pursued by the collections team.

Once these documents are received, funds will be transferred into your account within 1-2 hours.