At Spotter Loans we are committed to the practice of responsible lending. The regulatory rules under which we are governed by Division 4 of Chapter 3 of the National Consumer Credit Protection Act, are incorporated into our Lending Policies.

We are required by this law:

  • To make reasonable inquiries about a borrower’s requirements and objectives;

  • To make reasonable inquiries about a borrower’s financial situation;

  • To take reasonable steps to verify the borrower’s financial situation;

  • To make a final assessment, based on the first 3 steps as make sure any credit contract we might suggest is “not unsuitable”.

In verifying a borrower’s financial situation, we may conduct a credit history check, we will obtain bank statements for at least the past 90 days, and consider all other information we consider relevant. We are completely transparent about all our fees and charges and any interest charged. (Please refer to Fees Statement).

If you feel as though you cannot make a repayment obligation, we are here to help provided that you give us reasonable notice.

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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

$1,000

Loan Amount

  • 13XRepayments
  • $110.77=Per Fortnight
  • $1,440.00Total Payments
Loan length:26 weeks

Medium Loan Example

$2,500

Loan Amount

  • 104XRepayments
  • $43.19=Per Week
  • $4,490.88Total Payments
Loan length:104 weeks

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 full Fee 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."

Minimum repayment term 90 days, maximum repayment term 12 months.