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Our small loans range from $2000 to $42500 for terms between 42 and 90 days. There will be a 20% origination fee added to the total loan amount, and then a 4% monthly maintenance fee thereafter. Your payments will be scheduled to coincide with your pay period.

For a loan of $500 for 3 months, the total monthly fees would be $60 ($100 for the loan’s setup plus $20 per month). Therefore, the total amount due is $660 ($500 plus $100 plus $60). Thus, your regular payment will be $220.

Small loans have a nominal percentage rate of 0% because they are paid back through a flat fee.

Case of a Loan in the Middle Range

A loan of over $2,000 with a term of at least 42 days is considered a medium-term loan. There is a $400 origination fee, a 48% APR, and a 65.4962% Comparison Rate*.

For a loan of $3000 for 3 months, the costs would be $400 for the origination fee plus $275.60 in interest. Three thousand dollars plus four hundred dollars plus two hundred and seventy-five dollars and sixty cents is $3,675.60. Consequently, your installment payment each month will be $1,225.20.

* The sample loan scenario used to calculate the example interest rate was a 2-year, $2,500 loan with a $400 origination fee and weekly payments. We are unable to accommodate requests for 2-year, $2,500 loans at this time on MoneySpot.

Cost-Effective Repayment of Your Loan

Lending practices that adhere to our responsible lending principles are designed to make it possible for you to make payments on your loan without going into debt. The above cash loan calculator can help you estimate your repayments before you apply. We cannot assist you if the majority of your income comes from Centrelink, and our online application form requires you to upload a copy of your most recent bank statement, so be sure to have that handy before you get started.

Instalment loans are short-term, low-interest, unsecured loans designed to help customers out of a financial jam. From $200 to $5,000, we offer instalment loans that can be paid back in 6 equal weekly (or 3 fortnightly) installments through direct debit. Customers often turn to this type of loan when they have an unexpected expense, need to make repairs, or simply discover they are short until their next installment. Although you need to be employed for an Instalment loan, having a perfect credit history is not required. The application process is quick, and the money is paid within the hour and usually received the same day.