Terms and Conditions

This document comprises of terms of conditions of Personal Loans on Spot. Please note that if you do not agree to be bound by our terms and conditions, then you may not access or use our product or services. You must read, agree with and accept all the terms and conditions contained in this document and in loan contract. Since these terms and conditions become basis of our agreement, we strongly recommend that you must read and understand all the provisions contained. By agreeing to this User Agreement, you agree that your use of our services are governed by these terms &conditions and conditions imposed in other documents (loan contact, privacy policy etc)

We may amend these terms and conditions at any time by giving you notice by electronic communication (e-mail or notification in member log in) or by posting the amended User Agreement on the Site. Any amended User Agreement will govern new user registrations from the date that it is posted on our website. Existing users will be bound by the amended User Agreement after the expiry of 30 days following the date of a notice or the posting of the amended User Agreement on the site, whichever occurs first.

1. Online registration –

You must register in our website and you must fill all the details required in Loan Application form. This contains your name, address, date of birth, employment details etc. Please note that if you provide any incorrect information, then loan application may be delayed or rejected.

Also, further information may be required to process your loan application and request will be made by electronic communication for that. If you failed to provide further information as requested, then your application may be denied.

2. Your Personal information -

You must provide your correct personal information in Loan Application form and you are solely responsible for that information. We will take reasonable steps to verify the information provided by you. We will verify information from your Bank statement, your employer and other sources. Your email address is used only to send you information that you have requested and as necessary to complete a transaction or application. You have full right to receive, or not to receive our marketing material or newsletter. In case you don’t want to receive, then you can simply unsubscribe. If at any time, you have questions or concerns about our privacy practices, please feel free to email us at privacy@personalloansonspot.com.au

3. Verification of Identity -

We need to identify you per the current law (Anti-Money Laundering and counter-Terrorism Financing Act 2006 and Rules). By agreeing to us undertaking e-verification, you are expressly agreeing to allow us to verify your identity against personal information held by a credit reporting agency. Law allows us to conduct verification electronically (e-verification). By accepting these terms and conditions, you acknowledge and consent that my details including name/address, date of birth and other details as required may be supplied to credit reporting agency for e-verification of identity.

4. Fees & Charges-

Fees and charges are clearly mentioned in the loan contract. The amount of installments and the date will also be mentioned in the loan contract. You must read the loan amount, installments, fees and other charges mentioned in the loan contract before authorizing the loan contract.

5. Other Terms and Conditions-

These terms and conditions are general conditions. For specific conditions pertaining to your loan agreement, you must read and understand your loan contract before authorizing it.

6. Complaints & Dispute resolution-

We are responsible lender. We hold credit license and we are authorized by ASIC to provide small amount loans (Small Amount Credit Contract). We are fully regulated by ASIC and we are also member of Credit and Investments Ombudsman (CIO).

In case you have a complaint, then please email us at complaint@personalloansonspot.com.au.

We will get back to you as soon as we can (normally within 2 business days).

If you still are not satisfied after our dealing, you can contact Credit and Investments Ombudsman (www.cio.org.au) on 02-92738400. You can also write to them on PO Box A252 Sydney South NSW 1235 or by email info@cio.org.au.

7. Disclosure of personal information-

You understand that disclosure of my personal information is governed by Privacy policy of Personal Loans on Spot, which is clearly mentioned on their website. You understand and authorize Personal Loans to spot to disclose my personal information to its related /associate companies with sole purpose to offer me their services

You understand that you can withdraw your consent anytime by contacting us at : : privacy@personalloansonspot.com.au

8. Loan Process-

It is mandatory for Personal Loans on Spot to collect 90 days of account statements from loan applicants. Without your 90 days Bank statement, we cannot offer you any credit/loan. We collect this information to ensure that we are lending responsibly and you can afford to pay the loan installments.

Personal Loans on Spot will use Third Party Software to collect 90 days Bank statement and you don’t need to physically fax or email us your Bank statements.

You understand and fully authorize the collection of 90 days Bank statement as mentioned above.

9. Indemnification-

You agree to protect and fully compensate Personal Loans on Spot and their affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorney’s fees) caused by or arising from your use of the service, your violation of these terms or your infringement.

Declaration and consent

You declare that the information provided in loan application is true and correct.
You have read and understood the above terms and conditions of Personal Loans on Spot.
You understand, authorize and consent to all the terms and conditions set out within this document.


Personal Loans On Spot accepts no responsibility for any loss, damage, claim or expense suffered by you as a consequence of your reliance on the information provided in this site.By consenting to give your bank account and/or online banking details to the secured link provided, you agree/allow a third party service provider (operating onshore) access to your account information.