Loan Information

Small Loans Medium Loans Large Loans

Small Loans

$300 – $2,000

Loan Amount

3 months min – 12 months max

Cost

20% upfront establishment fee + 4% monthly fee

In APR terms, the maximum annual percentage rate on these SACC loans between $300 and $2000 is 199.43%

Representative Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Dislaimer

Under the current legislation, most small personal loan providers don’t charge an annual interest rate% (you’ll know this as an APR). The maximum you will be charged is a flat 20% establishment fee and a flat 4% monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%

Warning

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 with the lender that finances your loan.

Medium Loans

$2,001 – $5,000

Loan Amount

13 months min – 24 months max

Cost

Maximum 48% annual percentage rate (APR)
67.41% comparison rate p.a.
In APR terms, the maximum annual percentage rate on these loans between $2001 and $5000 is 48%

Representative Example

Based on a Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

Warning

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 with the lender that finances your loan.

Large Loans

$5,001 – $15,000

Loan Amount

13 months min – 72 months max

Cost

Minimum 5.75% – Maxmimum 48% annual percentage rate (APR)
6.47% – 48% comparison rate p.a.
In APR terms, the maximum annual percentage rate on these loans between $5001 and $15000 is 48%

Representative Example

Based on Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

Warning

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 with the lender that finances your loan.

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