OUR FEES AND CHARGES

Secured Personal Loans

A secured loan is one where the borrower provides collateral such as a motor vehicle as security for the loan. Granting security over your goods can help you borrow a larger amount and reduce the interest rate offered. Generally, our secured loans are for amounts above $2,000.

Interest Rates

Our Secured Personal Loans have a fixed rate of 49.5% per annum.

Many of our loans are approved over a shorter term than 12 months so the annual amount of interest in most cases is not paid in its entirety. We also do not charge an early termination fee or any fees for making additional payments. The terms on these loans generally range from 34 weeks to 52 weeks.

Unsecured Personal Loans

An unsecured loan is when the borrower is not required to provide any collateral or security for the loan. In most cases our unsecured loans are for amounts above $2,000.

Interest Rates

Our Unsecured Personal Loans have a fixed rate of 49.5% per annum.

Most of our loans are approved over a shorter term than 12 months so the annual amount of interest in most cases is not paid in its entirety. We also do not charge an early termination fee or any fees for making additional payments. The terms on these loans generally range from 34 weeks to 52 weeks.

Short Term Loans

Our short term loans are designed to be paid back quickly and to assist our customers when they require fast access to funds but don’t want to be making payments for an extended period of time. The terms generally range from 18 weeks to 32 weeks and the loan interest rates range from 89% to 140% per annum.

Personal Loan Credit Fees and Charges

The following credit fees and charges are, or may become, payable under, or in connection with, the Loan Agreement.

The Establishment fee charged on our loans is $85.
$0.00 Third Party direct debiting service.
Personal Property Securities Register (PPSR) fee for secured loans – at cost.

Default Interest Charges and Default Fees

In the event of a default in payment and while the default continues you will be required to pay the same rate as the annual Interest Rates shown above. In the event of a breach of the agreement or on the enforcement of the agreement, the default fees specified below are also payable.

$25 dishonour payment fee.
$25 missed payment fee.
$25 default payment fee.

Sample of the Personal Loan and Short Term Loan Agreements & Disclosure Statements.

Each time you take a personal loan or short term loan with us, you will receive an agreement that discloses all your loan details.