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Featured

Five tips to get your finances in order in 2021

20 January 2021

2020 was an interesting year to say the least and many of our plans were put on hold, especially when it came down to finances. Then of course we had Christmas. It may have been a little different this...

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Getting a Handle on Your Finances After Divorce

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The 3-6-9 Rule for Emergency Savings

30 March 2017 Read more

What to do if you are Struggling to Pay your Rates

28 March 2017 Read more

Is My Bucket List Worth a Personal Loan?

23 March 2017 Read more

7 Ways to Save Money on a Tight Budget

21 March 2017 Read more

4 Steps to Being Less Financially Stressed

16 March 2017 Read more

How Much Does a Pet Really Cost? Essential Pet Expenses and How a Personal Loan Can Help

14 March 2017 Read more

Does a Centrelink Payment Stop me Getting a Personal Loan?

8 March 2017 Read more
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Warning about borrowing

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© 2021 Credit24, Australian Credit Licence number: 422839

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Website disclaimer:
The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.

For small loans of less than $2,000, the Annual Percentage Rate (APR) is not applicable. Minimum term is 120 days and the maximum term is 12 months. The cost of the loan is a 20% establishment fee on the amount borrowed and a monthly fee of 4% charged on the amount borrowed. For example, a $1,000 loan borrowed over 6 months is a total of $1,440 ($1,000 principle, $200 establishment fee and $240 in monthly interest). Monthly repayment is $240.

For medium loans between $2,100 and $5,000, the APR is between 24% (minimum) - 47.8% (maximum) per annum. Comparison rate of 32.29% to 57.05%. Minimum term is 365 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $5,000 over 24 months with an APR of 47.8%, (comparison rate of 57.05%), will have a establishment fee of $400, weekly repayments of $80.77. Total repayments of $8,400 and total interest payment $3,000.

For large loans between $5,100 to $10,000, the APR is between 24% (minimum) - 47.8% (maximum). Comparison rate of 24% to 47.8%. The minimum term is 365 days and the maximum term is 36 months. There is no establishment fee and the cost of the loan is the monthly interest charged on the amount borrowed. For example, for a $6,000 loan borrowed over 24 months with an interest rate of 24% is a total of $7,543.87 ($6,000 principle and $1,543 in monthly interest). Monthly repayment is $318.09.

For our Line of Credit, there is no establishment fee and cost of the loan is the monthly fee of 2% - 4% charged on the amount borrowed. The minimum APR is 24% and the maximum APR is 47.8%. The maximum term is 36months. For example, $1,000 borrowed over 36 months is a total of $2,440 ($1,000 principle and $1,440 in monthly interest).

*For loans approved or Line of Credit draw requests made between 9am-6pm Monday to Friday, AEST.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

How much interest charged is based on the loan amount and the loan term. How much someone can borrow will be based the information they provide to us during the loan assessment.

© 2020 Credit24, Australian Credit Licence number: 422839