These are the fees incurred for the creation and management of your loan.
This is the cost of us creating and processing your loan application.
This fee will be added to the initial unpaid balance at the start of your loan.
||Establishment fee for a Single or Joint Loan
||Add Guarantor *
|$1,000 - $4,999.99
|$5,000 - $9,999.99
|$10,000 - $14,999.99
|$15,000 - $24,999.99
* This fee is an additional fee per guarantor.
We charge an administration fee of $10 per month for processing your repayments and otherwise managing your loan.
Our Annual Interest Rate (AIR) ranges from 19.95% - 44.95%.
The rate offered will depend on several factors which could include; your credit history, your employment status, financial obligations, and family status to name a few.
From time to time, we may offer reduced/lower interest rates than the range listed above, to select customers (promotion participants) for a limited time. These promotional rates are still subject to standard eligibility, lending and affordability criteria.
New Clients are typically offered an AIR of 44.95%.
Please see below 2 examples of a loan with AIR 19.95% and AIR 44.95%.
|Monthly Account Fee
|Weekly payments over 24 months*
|Total cost payable
* These are calculated on the basis that you provide your own 3rd party insurance which must include an Income Protection Policy. If you opt to take our Repayment Waiver then there is a $300.00 fee and your weekly repayments would increase.
Refer below for further details on optional services and interest, fees & costs on default.
We do not charge you for:
- Providing a copy of your loan documents (if you download them from our website)
- Processing a complaint
- Processing a hardship application
- Processing a repayment waiver application
Fees and charges payable if you default or request an optional service
The following optional fees and default fees and costs may be charged to you:
||When the Fee applies
||Only applies if you request a loan change and the lender agrees to it
||Only applies if you request a statement or document copy
|Repayment Waiver Fee**
||Only applies if you request OUR Repayment Waiver Cover
||For each missed or dishonored payment
||For each reminder letter we send
|Wage Assignment Fee
||If we lodge a wage assignment request
|Credit Agency Fee
||If we lodge your default with a credit agency
|Collection Agency Fee
||Up to $75
||If we engage an external collection agency
|External Collection Costs
||Costs incurred by an external collector or lawyer
All other fees and costs above occur at various stages of default and will not be charged if you do not default.
Default interest is: 0% - 10% per annum
- charged in addition to the base Annual Interest Rate specified in your Loan Agreement (see also above),
- only payable on any amount that is overdue and stops when the overdue amount is paid,
- Default interest can vary based on a number of factors including the amount you borrowed, the base interest rate you received, if the loan has joint borrowers or guarantors; and if the loan is secured or unsecured,
- Please check your contract for the default interest rate you have been charged, if any.