Please read below to check the standard fees and charges on Family Finance Consumer Contracts.
- 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 is 6.3% above the annual rate of interest and is charged on the overdue portion only.
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|
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!