Rates & Fees
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 the above interest rates are ‘fixed’ for the term of the loan facility and 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
- $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 2025 onward.