Up to 20% establishment fee
+ monthly fee up to 4%
Max comparison rate between $300 & $2000 is 199.43%
Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments).
$1,000 (Principle Amount)
+ $200 (Establishment Fee)
+ $240 (reducing interest)
= $1,440 total repayable over 6 months
with weekly instalments of $57.60.
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.