WARNING – Do you really need a loan today? It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow. For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor. Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan. If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94.
The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you. This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
View our full Terms & Conditions.
(*)Disclaimer: loan outcomes may vary. Most outcomes will be within the same business day of application being submitted, as advertised.
City Finance offers SACC (Small Amount Credit Contracts from $500 to $2,000) and MACC (Medium Amount Credit Contracts between $2,100 to $5,000) loans over a loan term between 12 to 52 weeks. For City Finance loans of $2,000 or less, an APR does not apply. The maximum you will be charged is a flat 20% establishment fee and a 4% monthly maintenance fee. Other fees may apply according to your loan contract. Representative example: Loan amount of $1,000 over 30 weeks (repayable over 30 repayments). $1,000 (principal amount) + $200 (20% establishment fee) + $280 (fees based on 4% per month over 30 weeks) = $1480 total repayable in 30 weekly instalments of $49.33. For medium City Finance loans between $2,100 and $5,000, the annual percentage rate (APR) is 48% per annum. Representative example: Loan amount of $2,500 over 104 weeks (repayable over 104 weekly repayments). $2500 (principal amount) + $400 (establishment fee) + $1,602.16 (reducing interest) = $4,502.16 total repayable over fornightly instalments of $86.58.
The comparison rate of the MACC loan is 66.24%.
Warning: The comparison rate is true only for an example loan amount of $2,500 and an example term of 104 weeks. Different terms or other loan amounts might result in a different comparison rate.
For any enquiries, concerns or complaints please contact us via 07 3458 9200 or email [email protected]
