Interest
Standard Interest 2.33% per month This is charged on an amortising basis for personal loans and a flat basis for business, trust and sole trader loans.
Default Interest 3.33% per month This applies while any payment is overdue or while the loan is on an agreed extension due to arrears.
Credit and Service Fees
Loan Setup Fee $240.00 Charged when your loan starts. Covers assessment, documentation, onboarding and loan administration.
Monthly Loan Administration $10.00 per month Charged from the date the loan is funded until the loan is fully repaid or written off. Covers account management, monitoring, statements, reconciliations and customer support.
Single Payment Variation $22.50 Charged if you request a change to the date or amount of a single scheduled payment.
Dishonoured Payment $25.00 Charged for each failed or reversed payment.
Direct Debit Mandate Change $25.00 Charged if you change your bank account or cancel your direct debit before your loan is repaid.
Payment Schedule Change $125.00 Charged if the loan term is extended or the repayment schedule is varied.
Settlement or Early Repayment $195.00 Charged when your loan is paid out before the end of the agreed term.
Loan Refinance $220.00 Charged when your existing loan is closed and replaced with a new loan.
Manual Payment Processing $10.00 per payment Charged when you make a manual payment instead of paying by direct debit. Not charged on a full early settlement.
Statement Fee $25.00 Charged when a statement is requested outside the regular statements we provide.
Overpayment Refund $10.00 Charged if you overpay and we refund the excess to you.
Courier and Hard Copy Documents $50.00 Charged when documents are sent by physical mail.
Default and Enforcement Fees
Debt Collection Lodgement $270.00 Charged when a loan is placed into hard default and escalated to internal or external debt collection.
Caveat Lodgement and Removal $1,200.00 Charged when a caveat is registered and later removed. If legal, registration or enforcement costs exceed this amount, the borrower must also pay all actual reasonable costs incurred.
PPSR Registration $50.00 Charged when a security interest is registered on the PPSR.
PPSR Removal $30.00 Charged when the PPSR registration is removed.
In addition to the fees listed above, the borrower must pay all reasonable legal, enforcement, registration and recovery costs incurred in enforcing or protecting the lender’s rights, including but not limited to solicitors, collection agencies, process servers, valuers, LINZ and court fees.
