Rates & Fees
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:
- $399 establishment fee for a new, or refinanced, loan
- $8 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 minimum per text 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.