$400 establishment fee
+ monthly fee up to 4%
Max comparison rate between $2,500 & $2000 is 199.43%
16 days to 12 Months
Disclaimer: Under the current legislation, all Small Amount Credit Contract
loan providers don’t charge an annual interest rate. The maximum you will be
charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The
comparison rate on loans between $2,500 and $2000 could be up to 199.43%.
The minimum loan term is 16 days and maximum loan term is 12 months.
Representative example based on a loan of $1000 over 6 months a borrower
can expect to pay a total of $1440. WARNING: This comparison rate is valid
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 with the lender that finances your loan.
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.
For more information about the allowable fees and charges for SACCs & MACCs visit the Moneysmart website.