Please read below to check the standard fees and charges on Family Finance Consumer Contracts.
Establishment Fee
- Family Finance’s standard documentation or establishment fee varies depending on the amount you are borrowing.
- For loans under $250 establishment fee for setting up the loan and approving you is $75
- For loans up to $251-$500 establishment fee for setting up the loan and approving you is $99
- For loans $500- $1000 establishment fee for setting up the loan and approving you is $200
- For loans $1001- $3000 establishment fee for setting up the loan and approving you is $275
- For loans $301- $5000 establishment fee for setting up the loan and approving you is $350
- For loans $5000 and over the establishment fee for setting up the loan and approving you is $395
Personal Property Security Registration ( PPSR)
If your loan is secured by your car or personal property we register a security over this property on the PPSR. This incurs a one off cost at the commencement of the loan of $30.
Monthly Activity Fee
For each month your loan is active, there is a $7 fee. This fee is included in your initial ‘balance payable” so you know your costs at the outset of the loan.
Annual Interest Rates
The annual interest rate is 11.95% to 26.8%, depending on the security offered and your credit check result. For vehicle finance with reasonable credit we can offer you a rate of 13.95%.
Default and Letter Fees
If we have to write you a reminder letter, the fee is $10.
If we write you a Prepossession Warning Notice or demand or Repossession Authority the fee is $20.
Default Interest
Default interest is 6.3% above the annual rate of interest and is charged on the overdue portion only.
Early settlement
If you repay your loan in full before the final scheduled payment date, you incur a single fee to close the loan early. This is $50 for consumer loans.
Sample Interest Rates
| Amount borrowed | Establishment fee | PPSR fee | weekly payments - 36 mths including monthly fee | weekly payments - 48 mths including monthly fee |
|---|---|---|---|---|
| $5,000 | $395 | $30 | $46 | |
| $10,000 | $395 | $30 | $87 | |
| $12,000 | $395 | $30 | $103 | |
| $15,000 | $395 | $30 | $128 | |
| $20,000 | $395 | $30 | $169 | $139 |
| $25,000 | $395 | $30 | $210 | $172 |
| $30,000 | $395 | $30 | $250 | $206 |
Interest Rate – 16.95%
Penalty Rate – 21.95%
The quoted rates etc are subject to change depending on your credit rating and the security you offer.
These quotations are indicative only with good credit and probably a car for security.
Interest rates will vary depending on the security you offer and your credit rating so apply now and we will get back to you with our offer!