How to apply
There are 2 ways to apply for a Bond Loan. If you:
- have already found a property to rent—apply for a Bond Loan
- are thinking about renting in the near future but haven’t yet found a property to rent—apply for a pre-approved Bond Loan. If eligible, you can use the pre-approval letter to show an agent or landlord that you will have the funds for the bond.
With your application, for each applicant you will need to have:
- proof of income, at least 2 types of identification, and proof of Australian residency status
- details of the rental property (unless you are applying for a pre-approved Bond Loan).
Bond Loan calculator
Use the Bond Loan calculator to work out how much you can borrow on your income.
To work out the maximum amount of your Bond Loan, take 60% of your household’s total gross weekly income and multiply it by 4.
After you have applied
Is my Bond Loan approved?
For Bond Loans—you will receive:
- an approval letter
- a copy of your Bond Loan Agreement
- a copy of your Bond Lodgement form (Form 2C for general tenancies or R2C for rooming accommodation).
You should give the Bond Lodgement form to your landlord/agent. In some cases we will send the form to your landlord/agent. Landlords may also be referred to as lessors.
For pre-approved Bond Loans—you will receive:
- an approval letter
- a property details form.
You can take the approval letter to your potential landlord/agent to show that you have secured funds for your bond. You can then find a property to rent with a weekly rent no higher than the maximum weekly rent amount stated on your pre-approval letter.
When you have been approved to rent a property, ask your agent/landlord to complete the Property Details form that was attached to your approval letter and return this form to us. You will then be given your Bond Loan approval documentation.
If your application is declined we will contact you.
How is the Bond Loan paid?
When you move into your home, the landlord/agent must lodge Form 2C or R2C with the Residential Tenancies Authority (RTA). Once the RTA has processed the form, funds will be transferred to the RTA for safe-keeping during the term of your tenancy.
How often can I apply for a Bond Loan?
You should repay your current Bond Loan if you wish to apply for another.
There is no limit to the number of Bond Loans you may apply for.
For more information on applying for a Bond Loan: