Interest Rates and Fees

Interest rates for consumer finance loans are priced using a risk matrix that take into consideration a range of factors that include your credit score and affordability.

Based on the assessment of the information provided we will assign a risk grade, and a corresponding interest rate could apply.

These grades correspond to a interest rate band starting from:-

Secured personal loan rates

Risk Grade Tier 1 Tier 2 Tier 3 Tier 4
Interest rate p.a. 7.95% 9.95% 14.95% 18.95%

Unsecured personal loan rates

Risk Grade Tier 1 Tier 2 Tier 3 Tier 4
Interest rate p.a. 12.95% 18.95% 21.95% 26.95%

These are indicativeĀ unsecured personal loanĀ rates only and may be subject to change without notice

Default interest rates
Default interest rates are normally set at 5% above the stated rate, and are recorded on the face of the contract. This information is disclosed under the section headed "Default interest charges and default fees"

Credit Check and Decisioning Fee $19.49
A fee of up to $19.49 is charged for processing a new loan for each party attached to the contract. The fee includes credit, decisioning fee, and a search of the personal properties security register.

Introducer Fee. Up to $995.00
A fee of up to $995.00 may be paid to an Introducer for referring a loan to us. This fee is payable to the Introducer and forms part of the loan.

Establishment Fee. Up to $495.00
Charged for processing a loan application and added to the contract when the loan is drawn down. This fee may vary where additional testing and verification is required, and where the amount of work performed by the loans approval team is particularly high.

GPS Installation $395.00
Charged for the installation of a GPS unit where required as a condition of the loan.

Personal Properties Securities Registration (PPSR) $11.50
Charged to the contract and subsequently paid to Ministry of Economic Development for registration of the security interest, as well as a search on the Personal Property Securities Register.

Veda Autoplus $19.95
Charged to the contract and subsequently paid to Equifax for vefifying the Title, Valuaton, whether a Security Interest is held over the motor vehicle.

AML Verification $16.10
Charged to the contract when a Biometric Identity check is performed for non face-to-face contract execution.

Early Settlement
Consumer - $45.00 Charged to the account when a loan is settled in full before its maturity date.

Motor Vehicle - $245.00 Charged to the account when a loan is settled in full before its maturity date.

Administration fees $7.50
Charged to account each month end.

GPS Administration fees $23.00
Charged to account each month end for the maintenance of the GPS unit. This charge is passed on to the third party supplier.

Statement $5.00
Charged to the account when a statement is requested and supplied.

Refund $10.00
Charged to the account when an overpayment is received prior to completion of the account and a refund is made.

Caveat Fee. From $225.00
Charged to a loan when a caveat is registered over property. These charges are passed on to us by third party Solicitors. Caveat discharge costs will also be charged on completion of the loan.

Mortgage Fee. From $495.00
Charged to loan agreement where a mortgage is registered over property. This cost is passed on to us by third-party Solicitors. Mortgage discharge cost will also be charged on completion of the loan.

Contract Variation $95.00
Charged when the goods on the contract are changed or, where the term and or repayment amount is modified to accommodate the Debtor. (Other than a hardship application where there is no charge)

Assignment $40.00
Charged when assigning a contract from one purchaser(s) and or guarantor(s) name to another purchaser(s) and or guarantor(s) name.

SMS fees $0.50
Charged where an account is in default and has not been remedied, and it is deemed necessary to contact by SMS messaging service.

Second Reminder letter $10.00
Charged where an account is in default has not been remedied, requiring us to send a furthermore serious letter.

Pre-Possession/ Repossession Notice $25.00
Charged to account when a Pre-Possession/ Repossession Notice is issued.

Repossession Fee. From $195.00
Charged to a loan after repossession. Charges vary depending on the whereabouts of the goods, and the cost associated with collection. Agents submit third-party invoice, based on what is a reasonable charge for time and effort.

Recovery Costs
Costs incurred by third party (e.g. Repossession Agent, Debt collection Agency, Legal Services, Repairer) will be added to a loan based on a third-party invoice.

Copies of all invoices are available upon request. All prices are inclusive of GST.