Secured Personal Loans Rates and Fees
Interest rates range from 9.75% p.a. to 29.95% p.a. The rate charged will depend on your financial circumstances, taking into account:
- how much you want to borrow
- the term of your loan
- your income
- your other financial commitments
- your credit history
To understand the rate that will apply to you please call 0800 88 20 20.
Default interest rates
If you do not pay an amount when it is due, then we will charge you interest at a default interest rate of 6% per annum above the then current interest rate.
Schedule of Standard Fees and Charges Applied to Consumer Loan and Security Contracts
Application / Approval / Account Maintenance
Establishment Fee (Direct) - $276.00
We will charge you this fee for processing a new loan application made directly to us, including approval and acceptance.
Establishment Fee (Intermediary) - $146.00
We will charge you a fee of up to $146.00 for processing a new loan application via an intermediary, including approval and acceptance.
Dealer/Broker/Introducer Fee - $500.00
We may charge you a fee of up to $500.00 which we will pay to any dealer/ broker/introducer who refers you to us in relation to the loan.
PPSR Fee - $10.00
We will charge you this fee for registration of our security interest in any personal property over which you give us security.
Refund Fee - $16.00
We will charge you this fee if you overpay us and we refund you.
Early Settlement Fee - $47.00
We will charge you this fee if you fully repay your loan early.
Statement Fee - $5.00
We will charge you this fee if we give you (at your request) an additional statement. We do not charge you this fee for providing any six monthly continuing disclosure statements.
Transfer Fee - $276.00
We will charge you this fee if you or the guarantor assign or transfer any of your rights or obligations under your loan agreement (with our prior written consent).
Caveat Fee - Actual Cost
If we register a caveat over any of your property at any time, we will charge you caveat registration and release costs.
Mortgage Fee - Actual Cost
If we register a mortgage over your property at any time, we will charge you mortgage registration costs.
Variation Fee - $47.00
We will charge you this fee if we agree you can make an unscheduled part prepayment of the loan and we have to change the amounts and dates as a result, or if we agree to release our security interest in the Goods over which you have granted us a security interest and substitute it with a security interest over other Goods.
Refinance Fee - $276.00
We will charge you this fee if we change the terms of the loan to help you if you are having difficulty keeping up with your payments, or if you want to change the term (length) of the loan.
Repossession Warning Notice - $51.00
We will charge you this fee if we have to send you a reminder letter. We usually do this 12 - 15 days after you have breached your loan agreement (e.g. overdue payments).
Telegram - $3.00
We will charge you this fee if we have to send a telegram. (We usually only send telegrams after expiry of a Repossession Warning Notice if we are having difficulty contacting you. The telegram would ask you to contact us to avoid further ‘enforcement action’.)
Dishonoured Payment Fee - $5.00
We will charge you this fee if your bank dishonours a payment you make to us.
Repossession Warrant Fee - $131.00
We will charge you this fee if we have to instruct an agent to repossess any personal property over which you have given us security (for example, due to overdue payments).
Repossession Fee - $131.00
We will charge you this fee if we have to repossess the Goods.
Repossessed Goods Sales Fee - Actual Cost
We will charge you a fee if we have to sell the Goods.
Recovery Costs - Actual Cost
We will charge you any costs charged by third parties relating to your loan or your loan agreement (e.g. repossession agent, legal provider, repairer). We can provide copies of the invoices on request.
Fees and costs added to loan balanace
If we charge you any of the above fees or costs, we will add that amount to the principal amount of your loan. That means we will charge interest on that amount until you pay it.