Taking out a loan is a serious financial commitment, and it’s essential to ensure it’s the right choice for your situation. Borrowing money can be expensive, and it might not always resolve financial challenges.

Explore Alternative Solutions:

Speak with a free and independent financial counsellor by calling 1800 007 007 anywhere in Australia for guidance on managing bills and debts.

Contact your utility providers (electricity, gas, phone, or water) to discuss potential payment plans.

If you receive government benefits, consider applying for an advance payment through Centrelink. Call 13 17 94 to find out more.

Visit the MoneySmart website https://moneysmart.gov.au/ for practical advice on small loans and alternative financial solutions that might better suit your needs.

Loan Details and Terms:

There are partners that do provide Small Amount Credit Contracts (SACC) and Medium Amount Credit Contracts (MACC).

SACC loans: Up to $2,000, with no annual percentage rate (APR). Maximum charges include a 20-25% establishment fee and a 4% monthly maintenance fee.

Example: Borrow $1,000 over 30 weeks. Total repayable: $1,480 ($1,000 principal + $200 establishment fee + $280 fees). Weekly repayments: $49.33.

MACC loans: From $2,001 to $5,000, with an APR of 48% per annum.

Example: Borrow $2,500 over 30 weeks. Total repayable: $3,331.80 ($2,500 principal + $400 establishment fee + $431.80 interest). Weekly repayments: $111.06.

Additional Information:

SACC and MACC loas are available at participating partners only. These loans incur additional broker fees, high interest rates and lengthy repayment terms.

Before proceeding if seeking a SACC or MACC loans, please consider if it is the right option for you. If you believe that a SACC or MACC loan is the right fit, please continue to complete your details here.

SACC and MACC Loan outcomes, if assessed and approved, may typically occur within the same business day of application submission but may vary. Our reference partners upon contacting you, can provide more information.

This information is provided to meet Australian Government requirements under the National Consumer Credit Protection Act 2009.

Any concerns, queries or requests?

Should you wish to discuss a breach of your privacy or any aspect of this Policy, please forward your request, complaint or query by email to the contact person set out below. We shall endeavour to respond as soon as possible.

Compliance Manager

[email protected]