Direct Debit Fee - $0.99
If your payments are made by direct debit, this fee may apply on a per transaction basis by add-ing it to the amount due and the total will be direct debited from your nominated bank account.
Arrears notice fee - $10
If your loan is in arrears and we find it necessary to write to you, this fee may be debited to your account and form part of the balance owing.
Credit Reference Default Advice - $30
When we register a payment default by you with a Credit Reporting Body, this fee may be debited to your ac-count and form part of the balance owing.
Debt Recovery Field Call - $100
This fee or such higher amount as we may incur may be payable and debited to your account and form part of the balance owing if we or our agent have cause to visit you in regard to your outstanding
Debt Recovery Phone Call - $2
This fee may be payable and debited to your account and form part of the balance owing if we have cause to telephone you in regard to your outstanding arrears.
Default Notice - $35
If your loan is in arrears and we find it necessary to issue a Default Notice, this fee may be debit-ed to your account and form part of the balance owing.
Dishonour or Missed Payment Fee - $30
When we are notified of a dishonoured payment by our bankers or where you fail to make a payment on the due date, this fee may be debited to your account and form part of the balance owing.
Enforcement Expenses - At Cost
These may be payable when you are in default and we incur any expense in enforcing our rights under the contract.
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Here's what a loan might look like
Here's what a small loan might look like...
You're after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.
Here's what a medium loan might look like...
You're after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.
Small Loan Example
- $110.77=Per Fortnight
- $1,440.00Total Payments
Medium Loan Example
- $43.19=Per Week
- $4,490.88Total Payments
In the above example You'll pay:
- Loan Amount Financed:$1,000
- Establishment Fee:$200(set by NCCP at 20% of the loan amount)
- Monthly Permitted Fee:$40per month charged on the anniversary of the loan
- Amount of Credit of the Loan:$1,240
- Total Amount of Interest Payable:NIL
- Direct Debit Fees:$25.74($0.99 per transaction)
- Total amount of repayments:$1,440.00
- Nominal Percentage Rate (Interest) per annum:0% as defined by NCCP
- Comparison Rate: 160.0571% as defined by NCCP
In the above example You'll pay:
- Loan Amount Financed:$2,500
- Establishment fee:$400(Set by NCCP)
- Amount of Credit of the Loan:$2,900
- Total Amount of Interest Payable:1,590.86
- Repayments:103 x $43.19 + $42.31(a final payment)
- Total amount of repayments:$4,490.88
- Nominal Percentage Rate (Interest) per annum:48% as defined by NCCP
- Comparison Rate: 65.5138% as defined by NCCP
WARNING: This comparison rate is accurate and applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
See our fullFee Statement for fee details.
"These examples are provided for illustrative purposes only. They do not represent an offer from Rate Detective Pty Ltd. A Spotter Loan is subject to the completion of an application, which is subject to responsible lending checks that take your personal needs and financial circumstances into account."
For loans under $2000 the minimum repayment term 90 days, maximum repayment term 12 months.