Interest rates

Instant Finance provides loans at an annual interest rate from 19.95% to 29.95% per annum.
The rate that applies to your loan will be based on a range of factors including your circumstances, credit history with us or others, the security you can provide and the loan amount.

Once set, our interest rate is fixed for the term of your loan.

Default interest rate

If you get behind in your loan repayments, then we may charge a default interest rate on any overdue loan payments, while they are unpaid. The Default rate that we charge is 10% per annum above the Interest Rate that normally applies to your loan.

Loan terms

Loan terms are normally over a maximum term of three years.

Loan fees

We have various fees attributed to your loan which are added to your loan repayments.

Fee

Description

Cost

Loan establishment fee

A one-off set up fee for your loan.

$370

Administration fee

A fee per installment paid.

$2 (per installment)

Variation fee

A one-off fee charged if your loan terms are changed.

$50

Full repayment fee

A one-off fee if you pay off your loan in full before the final payment is due.

$100 + any calculated loss.   

Full Fee Schedule

Find out more

Loan Example:

The amount repayable of your loan is made up of your interest rate, plus fees. For example, if borrowing $10,000 repayable over 3 years at an interest rate of 29.95% you would be required to make 156 weekly instalments of $102.93. This repayment is made up of interest, an establishment fee of $370 and an administration fee of $2 per instalment.

Total interest would be $5,375.08 with total fees of $682 making the total payable over the full term $16,057.08.