Rate Detective Pty Ltd ACN 127 193 712 trading as Spotter Loans (referred to as ‘we’, ‘our’, ‘us’) is bound by the Privacy Act 1988 ('Privacy Act'), including the Australian Privacy Principles ('APPs') and recognises the importance of ensuring the confidentiality and security of your personal information.
All third parties (including customers, suppliers, sub-contractors, or agents) that have access to or use personal information collected and held by us must abide by this Policy.
Copies of this Policy are available free of charge by contacting our Privacy Officer or can be downloaded from our website www.spotterloans.com.au.
In this Policy:
‘Disclosing’ information means providing information to persons outside of us;
‘Personal information’ means information or an opinion relating to an individual, which can be used to identify that individual;
‘Privacy Officer’ means the contact person for questions or complaints regarding our handling of personal information;
‘Sensitive information’ is personal information that includes information relating to a person's racial or ethnic origin, political opinions, religion, trade union or other professional or trade association membership, sexual preferences and criminal record, and also includes health information; and
‘Use’ of information means our use of information.
2. WHAT KINDS OF PERSONAL INFORMATION DO WE COLLECT AND HOLD?
We may collect and hold a range of information about you to provide you with our services, including:
- your full name;
- contact details;
- date of birth;
- employment details;
- details of you assets and liabilities; and
- information relating to your credit file.
3. HOW DO WE COLLECT PERSONAL INFORMATION?
We generally collect personal information directly from you. For example, personal information will be collected through our application processes, forms and other interactions
with you in the course of providing you with our products and services, including when you visit our website, call us or send us correspondence.
We will not collect sensitive information about you without your consent unless an exemption in the APPs applies. These exceptions include if the collection is required or authorised by law or necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct.
If you do not provide us with the personal information we request, we may not be able to provide you with our products or services, or meet your needs appropriately.
We do not give you the option of dealing with us anonymously, or using a pseudonym. This is because it is illegal or impractical for us to deal with individuals who are not identified
4. UNSOLICITED PERSONAL INFORMATION
We may receive unsolicited personal information about you. We destroy or de-identify all unsolicited personal information we receive, unless it is relevant to our purposes for collecting personal information. We may retain additional information we receive about you if it is combined with other information we are required or entitled to collect. If we do this, we will retain the information in the same way we hold your other personal information.
5. WHO DO WE COLLECT PERSONAL INFORMATION ABOUT?
The personal information we may collect and hold includes (but is not limited to) personal information about the following individuals:
visitors to our website;
service providers or suppliers; and
referees and employers.
6. WHY DO WE COLLECT PERSONAL INFORMATION?
We collect and hold personal information about you so that we may:
provide you with our products and services;
review and meet your ongoing needs;
provide you with information we believe may be relevant or of interest to you;
let you know about other products or services we offer, send you information about special offers or invite you to events;
consider any concerns or complaints you may have;
comply with relevant laws, regulations and other legal obligations;
help us improve the products and services offered to our customers and enhance our overall business; and
any purpose to which you have consented.
We may use and disclose your personal information for any of these purposes. We may also use and disclose your personal information for secondary purposes which are related to the primary purposes set out above, or in other circumstances authorised by the Privacy Act.
Sensitive information will be used and disclosed only for the purpose for which it was provided (or a directly related secondary purpose), unless you agree otherwise or an exemption in the Privacy Act applies.
7. WHO DO WE DISCLOSE PERSONAL INFORMATION TO?
We may disclose personal information to:
a related entity of us;
an agent, professional advisor or service provider we engage to carry out our functions and activities
organisations involved in a transfer or sale of our assets or business;
financial institutions involved in managing our payments, such as banks;
regulatory bodies, government agencies, law enforcement bodies and courts;
anyone whom you authorise us to disclose it;
your referees, like your employer, to confirm details about you; and
any organisation that wishes to take an interest in our business or assets.
If we disclose your personal information to service providers that perform business activities for us, they may only use your personal information for the specific purpose for which we supply it. We will ensure that all contractual arrangements with third parties adequately address privacy issues and will make third parties aware of this Policy.
8. SENDING INFORMATION OVERSEAS
We are likely to disclose your personal information to recipients located in the following countries:
- United States of America.
However, we disclose information to overseas recipients that is not readily ascertainable and therefore completely de-identified. Due to the fact that the personal information is de- identified it is therefore not subject to any obligation for overseas disclosure under the Act or the APP's.
We will not disclose your personal information to other overseas recipients without your consent unless:
we have taken reasonable steps to ensure that the recipient does not breach the Privacy Act, or the APPs; or
the recipient is subject to a similar information privacy regime.
9. MANAGEMENT OF PERSONAL INFORMATION
We recognise the importance of securing the personal information of our customers. We will take steps to ensure your personal information is protected from misuse, interference or loss, and unauthorised access, modification or disclosure.
Your personal information is generally stored in our computer database. Any paper files are stored in secure areas. In relation to information that is held on our computer database, we apply the following guidelines:
passwords are required to access the system and passwords are routinely checked;
data ownership is clearly defined;
we change employees’ access capabilities when they are assigned to a new position;
employees have restricted access to certain sections of the system;
the system automatically logs and reviews all unauthorised access attempts;
unauthorised employees are barred from updating and editing personal information;
all computers which contain personal information are secured both physically and electronically;
data is encrypted during transmission over the network; and
print reporting of data containing personal information is limited.
PERSONAL INFORMATION ABOUT THIRD PARTIES
When you make application for credit from us or for the provision of credit assistance by us we will ask you to provide us with Personal Information about other persons, such as referees and family members who we may contact. These persons are referred to as "Third Parties". When you provide this information to us you warrant that you are authorised to do so.
CONTACTING THIRD PARTIES AND USE OF SOCIAL MEDIA
We may, at any time while we are a credit provider to you or provide you with credit assistance, contact Third Parties to assist us in helping you honour your contractual obligations under any credit contract you have with us.
You also authorise us to use social media to contact you.
In circumstances where you have failed to honour your obligations to us and we are unable, for whatever reason, to contact you by other means, after making reasonable efforts to do so, you authorise us to make contact with persons listed by you as your contacts, connections and friends on social media sites where you are a user, so we can establish contact with you for the purpose of assisting you to make sure you honour your contractual obligations to us.
10. DIRECT MARKETING
We may only use personal information we collect from you for the purposes of direct marketing without your consent if:
the personal information does not include sensitive information; and
you would reasonably expect us to use or disclose the information for the purpose of direct marketing; and
we provide a simple way of opting out of direct marketing; and
you have not requested to opt out of receiving direct marketing from us.
If we collect personal information about you from a third party, we will only use that information for the purposes of direct marketing if you have consented (or it is impracticable to obtain your consent), and we will provide a simple means by which you can easily request not to receive direct marketing communications from us. We will draw your attention to the fact you may make such a request in our direct marketing communications.
You have the right to request us not to use or disclose your personal information for the purposes of direct marketing, or for the purposes of facilitating direct marketing by other
organisations. We must give effect to the request within a reasonable period of time. You may also request that we provide you with the source of their information. If such a request is made, we must notify you of the source of the information free of charge within a reasonable period of time.
We do not adopt identifiers assigned by the Government (such as driver’s licence numbers) for our own file recording purposes, unless one of the exemptions in the Privacy Act applies.
12. HOW DO WE KEEP PERSONAL INFORMATION ACCURATE AND UP-TO-DATE?
We are committed to ensuring that the personal information we collect, hold, use and disclose is relevant, accurate, complete and up-to-date.
We encourage you to contact us if any personal information we hold about you needs to be updated. If we correct information that has previously been disclosed to another entity, we will notify the other entity of the correction within a reasonable period. Where we are satisfied information is inaccurate, we will take reasonable steps to correct the information within 30 days, unless you agree otherwise. We will not charge you for correcting your personal information.
13. ACCESSING YOUR PERSONAL INFORMATION
Subject to exceptions in the Privacy Act, you can access the personal information that we hold about you by contacting the Privacy Officer. We will generally provide access within 30 days of your request. If we refuse to provide you with access to the information, we will provide reasons for the refusal.
We will require identity verification and specification of what information is required. An administrative fee for search and photocopying costs may be charged.
14. UPDATES TO THIS POLICY
This Policy will be reviewed from time to time to take account of new laws and technology, and changes to our operations and the business environment.
15. OUR RESPONSIBILITIES
It is the responsibility of management to inform employees and other relevant third parties about this Policy. Management must ensure that employees and other relevant third parties are advised of any changes to this Policy. All new employees are to be provided with timely and appropriate access to this Policy, and all employees are provided with training in relation to appropriate handling of personal information. Employees or other relevant third parties that do not comply with this Policy may be subject to disciplinary action.
16. MAKING A COMPLAINT
If you have any questions about this Policy, or wish to make a complaint about how we have handled your personal information, you can lodge a complaint with us by:
telephoning – (03) 8 568 6000
writing – to our Privacy Officer, Level 1, 240 Chapel Street Prahran Vic 3181
emailing – firstname.lastname@example.org
If you are not satisfied with our response to your complaint, you can also refer your complaint to the Office of the Australian Information Commissioner by:
telephoning - 1300 363 992
writing - Director of Complaints, Office of the Australian Information Commissioner, GPO Box 5218, SYDNEY NSW 2001
emailing - email@example.com
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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.