Cost of Borrowing

 

Establishment fees
and interest rates

  Loan amount Term Establishment fee Monthly interest rate Annualised interest rate
Cash Advance Up to $2,000 6 wks $30 40% 480%
Personal Loan $600 - $1,000 4 - 6 mths $145 12% 144%
  $1,100 - $2,000 4 - 9 mths $145 12% 144%

The cost of credit will never exceed the principal amount borrowed.

Information about how
interest is charged

All interest rates are fixed for the term of the loan.

Interest charges are calculated daily and applied to your account monthly. The daily interest rate is calculated by dividing the annual interest rate by 365.

In the event of default no default interest is payable, however you must continue to pay the usual interest charges as described above.

The cost of credit will never exceed the principal amount borrowed.

Other credit fees and
default fees

Default fee A default fee of $13.95 may be payable if a scheduled direct debit is returned unpaid.
Notice fee A notice fee of $9.00 may be payable if we have to issue a default notice to you.