Frequently Asked Questions
Q. How much can you borrow?
A. Between $1000 and $3000 depending on your circumstances.
Q. If I have had defaults and they are now paid am I eligible for loan?
A. You are welcome to apply for a loan if you have paid defaults. Please apply via our on-line application.
Q. If I have unpaid defaults am I eligible for loan?
A. No, you can apply only when you pay all your defaults.
Q. What do you need to provide to be approved for a loan?
A. Bank Statements for the last three months.
Once these have been received our Assessments team will contact you via email if they require further information and we will endeavour to get back to you within 48 hours with a decision on your loan application.
Q. How is the Percentage rate calculated for a personal loan?
A. The percentage rate is is a fixed fee that is calculated on the amount that you wish to borrow. Eg. If you borrow $1000 you total repayment will be $1159.50 (including fees).
Our loans are amongst the cheapest in the Fringe Lending industry.
Please click here to see a Repayment Calculator
Q. Do I have to pay any additional fees or hidden costs?
A. There are no hidden fees or charges. All of the fees and costs are included in the interest rate that is charged and included in the total repayment figure.
The only additional fee that you pay goes directly to Ezidebit to facilitate the automatic repayments from your bank account.
Q. How long is the loan for?
A. All of our loans are for 1 year. Repayments may be paid weekly, fortnightly or monthly.
If you wish to pay out your loan prior to the end of the contract you will not have to pay any penalty fees.
Q. Are my payments interest only, or principal and interest?
A. Your repayments will be principal and interest. All our loans are principal reducing, so that ALL the money you owe is repaid within the term of the loan.
Q. Do I need any security for my loan?
A. You don’t need to have any security for your loan.. However if you have a motor vehicle that we can secure it may help in getting your loan approved.
You will need to have clear title to a motorbike or motorcar (which means you don't owe any money on it).
Q. I am unemployed. Can I still get a loan?
A. Yes, every application is assessed on its merits and customers in receipt of Government benefits are most welcome. The maximum loan for these customers is $1000
Q. How much can I borrow?
A. This will depend on your circumstances. We tailor your borrowing requirements to suit your lifestyle and available money to make repayments.
Q. How long will it take to process my loan?
A. You will receive a conditional approval within 5 minutes of applying online. Once we have received all documents we will endeavour to get back to you via email within 48 hours with an Approval, Decline or request for further information
Q. If my application is successful, when can I get my money?
A. If your application is successful funds will be provided to you the same day. Availability of funds directly deposited into your bank account will be subject to your bank's operating procedures and processing times.
Q. What if I cannot repay on the due date?
A. If you think you will not have sufficient funds in your bank account, contact us immediately to suspend the direct debit. You must contact us at least one business day prior to the direct debit date.
If you do not contact us and your repayment fails, the direct debit is declined by your bank resulting in a $30 dishonour fee (plus a dishonour fee from your bank)
Deferring a payment will cost $5 for the first two deferrals and $15 for each subsequent deferred repayment.
We are always careful to lend amounts which will not lead to repayment difficulty or bad credit - but we also don't want you to borrow if you think you might struggle to repay for any reason.
Q. How to find JP in your state?
A.
Locating a justice of the peace in Queensland
www.justice.qld.gov.au/994.htm
Locating a justice of the peace in New South Wales
http://jp.lawlink.nsw.gov.au/public/welcomePublic.do
Locating a justice of the peace in Victoria
http://www.rvahj.org.au/findjp.wtml
Locating a justice of the peace in Western Australia
http://www.justice.wa.gov.au/_apps/jps/default.aspx?uid=2592-1540-7005-7064
Locating a justice of the peace in South Australia
http://jp.agd.sa.gov.au/JPPublicWeb/
Locating a justice of the peace in the Northern Territory
http://www.nt.gov.au/justice/database.shtml