Cash Advances

What are the fees and charges? 

Small Amount Credit Contract (SACC) $300 - $2000 

Cash Advances up to $2000 are provided as SACCs (Small Amount Credit Contracts) which have an Establishment Fee equalling 20% of the amount borrowed and a monthly fee of 4% of the amount borrowed. As a representative example, a loan of $1000 over 3 months has fees and charges totalling $320 (1x $200 + 3x $40) and a total repayment of $1320, equating to 3 monthly payments of $440. 

Personal Loan (MACC) $2001 - $5000 

Cash Advances between $2001 and $5000 are provided as MACCS (Medium Amount Credit Contracts) which are subject to maximum amount of fees, charges and/or interest as follows: Loan Settlement Fee (Establishment Fee) $400 and interest, charged at 48% per annum and calculated daily.

What interest is charged on a Cash Advance (APR)?

SACC – $300 – $2000

Under the current NCCP legislation interest is not permitted to be charged on a Small Amount Credit Contract (SACC). As per above the lender charges the legislated establishment fee (20%) and monthly fee (4%). Although interest is not charged on a SACC if the permitted fees were expressed as an APR the maximum APR for a SACC loan would be 183.34% for loan applications started from this landing page

Personal Loan (MACC) – $2001 – $5000

Our Personal Loans are provided as MACCs. All loans falling into the category of a Personal Loan (Medium Amount Credit Contract – MACC) are subject have a maximum APR Rate of 48% (excluding the $400 fee).

Will I get knocked back if I apply for too much?

It is important you apply for the amount required to meet your loan purpose, taking into account your financial situation the lender may offer something lower to suit your affordability, if it will meet your requirements and objective.

What will the repayments be?

The Lender loan runs in length from 62 days to 1 year with Weekly, Fortnightly or Monthly payments. After reviewing your financial situation, a tailored repayment schedule will be implemented to fit within your budget.

How much can I borrow?

You may apply for between $300 and $5000. How much you will be approved for depends on:

• Your income and financial situation
• Your ability to repay the loan
• Your previous credit history
• Your account management
• Your loan purpose and objective

What's the difference between a Cash Advance and a Pay Day Loan?

The term “Pay Day loan” implies you get a loan and you pay it back on your next pay day. Legislation is in place that mandates a minimum loan period of 16 days, therefore going beyond your payday which may only be 7 days (paid weekly) or 14 days (paid fortnightly).

What if I can’t make the repayment on the due date?

If you fail to make payments the cost of your loan may incur additional fees. If you need to change a payment contact the lender as soon as possible. They will always work with their customers to ensure that their repayments are affordable at all times during their loan and understand that unforeseen circumstances may arise. By advising them ahead of time, you can avoid the payment of dishonour fees imposed by your bank. If you need to change your payment you need to contact them at least 2 days before your payment is due. You may be charged additional fees should you extend your contract.

If your direct debit fails due to insufficient funds in your account, you may be charged a dishonour fee by your bank plus a rescheduling fee by the lender.

What if I currently have a cash advance with another lender and want one with you?

The lender follows all responsible lending obligations as required under the law. All applications take into account your current financial situation and requirements.

Can I apply if I am a Centrelink recipient?

We do not discriminate unlike most other lenders. Everything depends on the quality of your banking and ability to service your loan repayments. After responsible assessment the lender will do their best to tailor a solution for your needs.