the costs you can expect
the basics
Make sure you know these three terms:
Small personal loan: An unsecured loan of $300 to $2,000, repaid over 3 to 6 months.
Establishment Fee
A once-off fee of up to 20% of the principal. This amount is built into repayments.
Ongoing Fees
A monthly fee of 4% of the principal. Charged per month or part thereof, where there is an outstanding balance.
Other fees
$27.50 is added to your account when direct debits or other due payments are not made in full.
Medium personal loan: A secured loan of $2100 to $4600 requiring a car, motorbike, boat or caravan to be provided as security.
Establishment Fee
A once-off fee of $400. This amount is built into repayments.
Ongoing Fee
An annual percentage rate of 48% of the principal. Interest charged per month or part thereof, where there is an outstanding balance.
Other fee
$27.50 is added to your account when direct debits or other due payments are not made in full.
Large personal loan: A secured loan of $5,000 requiring a car, motorbike, boat or caravan to be provided as security.
Ongoing Fee
An annual percentage rate of 21.24% of the principal. Interest charged per month or part thereof, where there is an outstanding balance.
Other fee
$27.50 is added to your account when direct debits or other due payments are not made in full.
how it works.
small personal loans.
- Loan amounts: $300 – $2,000
- Terms: 3 months – 6 months
- Establishment fee: Up to 20%
- Monthly fee: 4%
- WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate
Example
| Loan Amount: | $1000 | $1000 |
| Term: | 6 Months, repayable weekly (25 weekly repayments) | 12 Months, repayable weekly (50 weekly repayments) |
| Principal amount: | $1000 | $1000 |
| Establishment fee: | $200 (20% establishment fee) | $200 (20% establishment fee) |
| Total other fees: | $240 (fees based on 4% per month over 25 weeks) | $480 (fees based on 4% per month over 50 weeks) |
| Total payable: | $1,440 | $1,680 |
| Weekly installments: | $57.60 | $33.60 |
medium personal loans.
- Loan amounts: $2,100 – $4,600
- Terms: 13 months – 24 months
- Establishment fee: up to $400.
- Annual Percentage Rate (APR): 48%
- Comparison Rate: 67.41%
- WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate
Example
| Loan Amount: | $3,000 | $4,500 |
| Term: | 18 months, repayable weekly (78 weekly repayments) | 24 months, repayable weekly (104 weekly repayments) |
| Principal amount: | $3,000 | $4,500 |
| Establishment fee: | $400 | $400 |
| Total other fees: | $1,379.06 (reducing interest) | $2,732.56 (reducing interest) |
| Total payable: | $4,779.06 | $7,632.56 |
| Weekly installments: | $61.27 | $73.39 |
large personal loans.
- Loan amount: $5,000
- Terms: 13 months – 24 months
- Establishment fee: up to $400.
- Annual Percentage Rate (APR): 21.24%
- Comparison Rate: 48%
- WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate
Example
| Loan Amount: | $5,000 | $10,000 |
| Term: | 18 months, repayable weekly (78 weekly repayments) | 24 months, repayable weekly (104 weekly repayments) |
| Principal amount: | $5,000 | $10,000 |
| Total Interest: | $2,027.80 | $5,577.12 |
| Total payable: | $7,027.80 | $15,577.12 |
| Weekly installments: | $90.10 | $149.78 |
