Rates & Fees

Interest Rates

Our interest rates are as follows, with interest (default interest) charged to the Consumer Credit facility every 7 days irrespective of weekly, fortnightly or monthly loan payments. Further clarification is detailed under loan contract ‘Method of Charging Interest’ in the ‘Standard Form Contract’.

  • Secured loans – 34% per annum
  • Part Secured loans – 41% per annum
  • Unsecured loans – 48% per annum

Please note that NO penalty interest rates will apply to any overdue loan payments on all NEW LOANS / LOAN REFINANCES completed on or after 11 February 2020.

Establishment & Monthly Account Fees

Our establishment and monthly account fees are as follows:

  • $349 establishment fee for a new, or refinanced, loan
  • $5 monthly account fee (charged on the last day of each month)
  • $1 direct debit charge per transaction

Default Fees

Our default fees are as follows:

  • Reminder letter – $5.25 per letter sent
  • Pre-possession notice – $8.75 per letter sent
  • Repossession letter – $26.25
  • Payment arrangement letter – $52.50
  • Home visit – $150.00
  • SMS fee – $0.45 per text sent
  • Statement fee – $10.00 per statement sent
  • Early settlement fee – $50.00
  • Payment reversal fee – $10.00

In addition, a weekly default fee of $14.00 is charged to your loan account.

Fees effective for all new / refinanced loans completed 1 April 2020 onwards.