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Costs

SMALL AMOUNT CREDIT CONTRACT

LOAN AMOUNT $1,000.00 $1,500.00 $2,000.00 
LOAN ESTABLISHMENT FEE $199.50 $299.25 $399.00
MONTHLY LOAN FEE ZERO ZERO ZERO

PLEASE NOTE: Direct debit Fees will be payable to the direct debit provider for each automatic withdrawal from your account (Establishment fee of $2.20 (one-off) and $0.99 per direct debit)

Fair Loans passes these fees on at cost and earns no revenue from them. Please check your contract for full details

 

Other Fees

Default and collection fees may apply if you miss any repayments

Other Fees and Charges Amount $ Description
Credit provider’s direct debit dishonour fee $10.00 to be paid to us each time you fail to pay any amount you have to pay us under this agreement
Phone Call to follow up missed payment $5.00 to be paid to us each time we call you by phone for failing to pay or repay any amount you have to pay us under this agreement
SMS to follow up missed payment  $5.00 to be paid to us if we are unable to contact you via phone, we will issue an SMS to you for failing to pay or repay any amount you have to pay us under this agreement 
Email to follow up missed payment $5.00 to be paid to us  if we are unable to contact you via phone & SMS, we will issue you an email for failing to pay or repay any amount you have to pay us under this agreement
Letter to follow up missed payment $5.00 to be paid to us if we are unable to contact you via phone, SMS and email, we will issue to you a letter for failing to pay or repay any amount you have to pay us under this agreement
Debt recovery  At cost Follows an un-remedied default

 

MEDIUM AMOUNT CREDIT CONTRACT

LOAN AMOUNT $3,000.00 $4,000.00 
LOAN ESTABLISHMENT FEE $400.00 $400.00
ANNUAL INTEREST $198.00 $398.00

PLEASE NOTE: Direct debit Fees will be payable to the direct debit provider for each automatic withdrawal from your account (Establishment fee of $2.20 (one-off) and $0.99 per direct debit)

Fair Loans passes these fees on at cost and earns no revenue from them. Please check your contract for full details

Other Fees

Default and collection fees may apply if you miss any repayments as well as some additional fees that may be required if you make changes to your personal and/or contract details

Other Fees and Charges Amount $ Description
Credit provider’s direct debit dishonour fee $10.00 to be paid to us each time you fail to pay any amount you have to pay us under this agreement
Phone Call to follow up missed payment $5.00 We may charge this fee each time we call you by phone for failing to pay or repay any amount you have to pay us under this agreement
SMS to follow up missed payment $5.00 We may charge this fee if we are unable to contact you via phone, we will issue an SMS to you for failing to pay or repay any amount you have to pay us under this agreement
Email to follow up missed payment $5.00 We may charge this fee if we are unable to contact you via phone & SMS, we will issue you an email for failing to pay or repay any amount you have to pay us under this agreement
Letter to follow up missed payment $5.00 We may charge this fee if we are unable to contact you via phone, SMS and email, we will issue to you a letter for failing to pay or repay any amount you have to pay us under this agreement
Enforcement Expenses At cost Follows an un-remedied default
Repayment frequency adjustment $5.00 We may charge this fee if you request to change from your current frequency.(e.g. weekly to fortnightly) two times or more during the term of the loan.  
Repayment date adjustment $5.00 We may charge this fee if you request to change the repayment date from the scheduled date two times or more during the term of the loan.
Change Bank Details $5.00 We may charge this fee if you request to change your bank details two times or more during the term of the loan.  
Repayment suspension fee $5.00 We may charge this fee if you request to suspend your repayments.  
Debt recovery At cost Follows an un-remedied default
Manual payment fee $5.00 We may charge this fee if a manual payment is received instead of direct debit
Multiple Manual payment fee $10.00 We may charge this fee If more than one manual repayment is received instead of direct debit