2018 Fee Statement

Small Loan (If the principal amount you borrow is between $200 and $2,000)

When you make all scheduled repayments on time, you’ll only be charged the loan establishment fee and the monthly loan fee.

Other fees will apply if you miss or reschedule any repayments.

Loan fees and charges

Establishment Fee: One-off fee payable per loan up to 20% of principal.

Monthly Loan Fee: Charged per month or part thereof, where there is an outstanding debt balance – up to 4% of principal per month.

Other fees that may apply

In the event that you miss a loan repayment, we will charge other fees to compensate us for the extra work we then need to do. These are fees such as Default fees and Collection fees.

Direct Debit dishonoured payment Fee:

$15.00 payable to us on the dishonouring of any direct debit or failure to make payment in accordance with the terms of your agreement with us.

Debt recovery phone call/email/letter/SMS:

$7.00 payable to us each time we have to organise, prepare and call/email/mail/SMS you for failing to make a scheduled repayment in accordance with your loan repayment schedule.

Arrears Notice Fee:

$10.00 payable to us each time we issue you with a Notice of Default when you fail to make a repayment in accordance with your loan repayment schedule.

Debt Recovery Field Call:

The costs incurred on any necessary field call when your account is in arrears will be passed on to you.

Enforcement Expenses: 

The costs incurred in the recovery of the outstanding amount when you are in default under the agreement will be passed on to you.

Debt recovery:  

Finally, if we can’t remedy a default by you, we will charge you the costs of recovering that debt, at cost.

If you think you are going to miss, or have missed a loan repayment, please contact one of our friendly staff on 1300883862 so that they can reschedule the missed payment and help you avoid any additional fees.

Medium Loan (If the principal amount you borrow is between $2,001 and $4,500)

When you make all scheduled repayments on time, you’ll only be charged the loan establishment fee and interest charges calculated based on the applicable interest rate.

Other fees will apply if you miss or reschedule any repayments.

Loan fees and charges

Establishment Fee

One-off fee payable per loan: up to $400

Interest Rate

This is the Annual Percentage Rate. 35.00% p.a.

Interest accrues daily – and is charged monthly in arrears – on the outstanding balance of your loan.

Monthly Fee

$7.00 per month to compensate us for maintaining and managing your loan account.

Comparison Rate* 46 % p.a.

Other fees that may apply

In the event that you miss a loan repayment, we will charge other fees to compensate us for the extra work we then need to do. These are fees such as Default fees and Collection fees.

Direct Debit dishonoured payment Fee:

$15.00 payable to us on the dishonouring of any direct debit or failure to make payment in accordance with the terms of your agreement with us.

Arrears Notice Fee:

$10.00 payable to us each time we issue you with a notice of default when you fail to make a repayment in accordance with your loan repayment schedule.

Debt recovery phone call/email/letter/SMS:

$7.00 payable to us each time we have to organise, prepare and call/email/mail/SMS you for failing to make a scheduled repayment in accordance with your loan repayment schedule.

Direct Debit Reschedule Fee:

$10.00 may be payable to us when a change is made to your direct debit arrangements.

Debt Recovery Field Call:

The costs incurred on any necessary field call when your account is in arrears will be passed onto you.

Enforcement Expenses: 

The costs incurred in the recovery of the outstanding amount when you are in default under the loan agreement will be passed onto you.

Debt recovery:  

Finally, if we can’t remedy a default by you, we will charge you the costs of recovering that debt, at cost.

If you think you are going to miss, or have missed a loan repayment, please contact one of our friendly staff on 1300883862 so that they can reschedule the missed payment and help you avoid any additional fees.

*This comparison rate is based on the Oz Cash Loans Medium Loan for an amount of $2,500 over 2 years and a $400 establishment fee. Fees and charges are payable

WARNING:

This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. This is a prescribed calculation and Oz Cash Loans does not offer loans for $2,500 over a term of 2 years.