Cost of Borrowing

The fees, interest & costs applying to your loan and the rules applicable to them will be set out in detail in your loan agreement. They are also summarised on this page.

Interest and Fees payable with your loan

Establishment Fee

By taking a loan with us you may incur the following fees at the start of the loan:

	‘ON THE GO’ Loans
	New Customer	Returning Customer*
Establishment Fee	$30.00	$15.00 – $20.00
Monthly Administration Fee	N/A	N/A

	‘JUMP START’ Loans
	New Customer	Returning Customer
Establishment Fee	$50.00	$50.00
Monthly Administration Fee	$5.00	$5.00

	‘ACTIVE’ Loans
	New Customer	Returning Customer
Establishment Fee	$50.00	$50.00
Monthly Administration Fee	$5.00	$5.00

	‘LOAN PLUS’ Loans
	New Customer	Returning Customer**
Establishment Fee	$95.00	$95.00
Monthly Administration Fee	$10.00	$10.00

This fee will be added to the initial unpaid balance at the start of your loan.
These are the only fees you need to incur (unless you default or request an optional service – see below).

*Returning Customer establishment fees are adjusted on a case-by-case basis and are calculated by previous repayment performance.
**Available solely to our Returning clients, on an invitation-only basis and are still subject to standard eligibility, lending and affordability criteria.

Interest

Our loans normally incur per annum interest in the following ranges (check your Loan Agreement for actual rate)

	‘ON THE GO’ Loans
	New Customer	Returning Customer*
Annual Interest Rates (AIR) Charged	693.5%	511% – 693.5%
Approximate Daily Interest Rate	1.90%	1.40% – 1.90%

	‘JUMP START’ Loans
	New Customer	Returning Customer
Annual Interest Rates (AIR) Charged	328.50%	251.50%
Approximate Daily Interest Rate	0.90%	0.68%

	‘ACTIVE’ Loans
	New Customer	Returning Customer
Annual Interest Rates (AIR) Charged	174.5%	174.5%
Approximate Daily Interest Rate	0.47%	0.47%

	‘LOAN PLUS’ Loans
	New Customer	Returning Customer**
Annual Interest Rates (AIR) Charged	n/a	49.95%
Approximate Daily Interest Rate	n/a	0.13%

We may periodically offer reduced or 0% interest rates for limited loan terms to certain customers on certain terms.

*Returning Customer interest rates are adjusted on a case-by-case basis and are calculated by previous repayment performance.
**Available solely to our Returning clients, on an invitation-only basis and are still subject to standard eligibility, lending and affordability criteria.

Other costs

The Establishment Fee and the Annual Interest Rate are the only costs of borrowing you need to incur unless you choose an optional service or default.
Refer below for further details on optional services and interest, fees & costs on default.

Free Services

We do not charge you for:

Processing your direct debit repayments
Talking with you about your loan
Providing a copy of any loan documents (if you download them from our website via your personal logon)
Providing a statement of your loan (if you download it from our website via your personal logon)
Processing a complaint
Processing a hardship application

Interest, Fees and costs payable if you default or request an optional service

Additional Fees (note: these can be avoided)

The following optional fees and default fees and costs may be charged to you:

	‘ON THE GO’ Loans	‘JUMP START‘ Loans	‘ACTIVE‘ Loans	‘LOAN PLUS‘ Loans***
Fast Payment Fee * Only applies if you request fast payment of your loan	$17.50	N/A	N/A	N/A
Change Fee * Only applies if you request a loan change and we agree	$10.00	$25.00	$25.00	$40.00
Statement/Document Fee * Only applies if you request a statement or document copy	$7.00	$7.00	$7.00	$7.00
Dishonour Fee For each missed or dishonoured payment	$25.00	$25.00	$25.00	$25.00
Letter Fee For each reminder letter we send	$7.00	$7.00	$7.00	$7.00
Debt Management Fee For each week you remain in default	$0.00	$0.00	$0.00	$0.00
Wage Assignment Fee If we lodge a wage assignment request	$30.00	$30.00	$30.00	$30.00
Credit Agency Fee If we lodge your default with a credit agency	$20.00	$20.00	$20.00	$20.00
Collection Agency Fee If we engage an external collection agency	up to $75.00	up to $75.00	up to $75.00	up to $75.00
Repayment Waiver Fee ** Only applies if you request OUR Repayment Waiver Cover	N/A	$145.00	$230.00	$300.00
External Collection Costs Costs incurred by an external collector or lawyer	As incurred	As incurred	As incurred	As incurred

* The Fast Payment Fee, Change Fee and Statement/Document Fee are optional services and the fees only apply if you request one and (in the case of the Statement/Document Fee) do not download it yourself from our website via your online logon – Note: not all statements and documents may be available via your online logon.

** The Repayment Waiver Fee is is an optional fee if you are able to supply a copy of your own third party Insurance details (This must contain an Income Protection Policy). For our ‘Jump Start’, ‘Active’ or ‘Loan Plus’ unsecured loans, we must have a valid type of repayment waiver or income protection policy.

***Available solely to our Returning clients, on an invitation-only basis and are still subject to standard eligibility, lending and affordability criteria.

All other fees and costs above occur at various stages of default and will not be charged if you did not default.

Default Interest

Default interest is:

	‘ON THE GO’ Loans
	New Customer	Returning Customer
Default Interest Rate	104%	104%

	‘JUMP START’ Loans
	New Customer	Returning Customer
Default Interest Rate	25%	25%

	‘ACTIVE’ Loans
	New Customer	Returning Customer
Default Interest Rate	25%	25%

	‘LOAN PLUS’ Loans
	New Customer	Returning Customer**
Default Interest Rate	n/a	10%

charged in addition to the base Annual Interest Rate specified in your Loan Agreement (see also above)
only payable on any amount that is overdue and stops when the overdue amount is paid
**Available solely to our Returning clients, on an invitation-only basis and are still subject to standard eligibility, lending and affordability criteria.