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Loan costs

Free Express Loan

The loan is completely free with no interest or fees, as long as the repayments are made on time as per the loan agreement.

Interest rate

0%

Establishment fee

$0

Account administration fee

$0


However, if the loan exceeds the original loan term, the following fees and Interest rates could apply.

Interest rate

4.79% per week

Annual Percentage Rate (APR)

249% per annum

Other Fees we may charge

Dishonoured payment fee

$5 per day – while in default

Adhoc payment fee

$5 per instance

Account enquiry fee

$5 per enquiry

Contract variation fee

$10 per instance

Direct debit authority cancelled fee

$40

Collection administration fee

$5 per week

Debt collection firm engaged fee

$20

Field officer visit fee

$60 per visit

 

Express Loans

Interest rates

1.13%-4.79% per week depends on the loan amount

Annual Percentage Rate (APR)

59%-249% per annum

Establishment fee

$45

Account administration fee

$30-$90 depending on loan amount

Other fees we may charge

Dishonoured payment fee

$5 per day – while in default

Adhoc payment fee

$5 per instance

Account enquiry fee

$4 per enquiry

Contract variation fee

$10 per instance

Direct debit authority cancelled fee

$40

Collection administration fee

$5 per week

Debt collection firm engaged fee

$20

Field officer visit fee

$60 per visit

An example of an Express Loan contract.

 

Free Pawn Loan

The loan is completely free with no interest or fees, if repaid fully within the first four weeks.

Interest rate

0%

Annual Percentage Rate (APR)

260%-390% per annum


After the initial interest free period, the following interest rates will apply.

Interest rate

30% per 28 days

Annual Percentage Rate (APR)

390% per annum

 

Pawn Loans

Loans up to $999

Interest rates

20%-30% per 28 days

Annual Percentage Rate (APR)

260%-390% per annum


Loans from $1,000 - $10,000

Interest rates

16%-26% per 28 days

Annual Percentage Rate (APR)

208%-338% per annum