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Small Amount Loan
Our small loans range from $200-$2,000 with a minimum repayment period of 95+ days and a maximum repayment period of 180 days. The fees charged include an establishment fee of 20% of the loan amount and a monthly fee of 4% of the loan amount. For example: A loan of $1000 over a period of 4 months has an establishment fee of $200 and a fee of $40 each month. The total payable on this loan is $1360. The monthly repayment will be $340. There is no nominal percentage rate as these loans are fee based.
Medium Amount Loan
Our medium loans range from $2,001-$5,000 with a minimum repayment period of 95+ days and a maximum repayment period of 180 days. The fees charged include an establishment fee of $400 and an Annual Interest Rate of 48%, and Comparison Rate* of 65.5%. For example: A loan of $3000 over a payment period of 3 months, has an establishment fee of $400 and interest charge of $275.60. The total payable on this loan is $3675.60. The monthly repayments will be $1225.20.
*The comparison rate is specific to a $2,500 loan over a period of two years with a $400 establishment fee and fortnightly repayments.