Fees and repayments
Interest and fees charges
Our SACC (small amount credit contract) loans of $500 to $2,000 include an upfront Establishment Fee of 20% with a monthly maintenance fee of 4% charged on the anniversary of your loan’s start date. Other fees may apply acording to your loan contract.
A SACC loan amount of $1000 over 30 weeks (repayable over 30 repayments). $1000 (principal amount) + $200 (20% establishment fee) + $280 (fees based on 4% per month over 30 weeks) = $1480 total repayable in 30 week instalments of $49.33.
Our MACC (medium amount credit contract) loans of $2,001 to $5,000 include a flat upfront $400 Establishment Fee with a 48% APR.
Loan Amount of $2500 over 30 weeks (repayable over 30 weekly repayments). $2500 (principal amount) + $400 (establishment fee) + $431.80 (reducing interest) = $3331.80 total repayable over weekly instalments of $111.06.
Other fees that can be incurred
- If you wish to make an early payment on your loan we don’t charge any early payment or early termination fees.
- If you need to change a payment and it is within your loan term, let us know 2 business days before the payment is scheduled and we will change it for free.
- If you don’t let us know and your payment dishonours, we charge you a dishonour fee.
- Not paying us back on time can negatively affect your future lending with City Finance.
Extra repayment options
- There are no fees or charges if you wish to make additional payments. You can call us and make a payment over the phone or make a deposit into our account at any time.
- You can also make a payment through our customer portal whenever you want.