Capital Comparison

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The following shows an example for a $100,000 loan paid back over 12 months. Your loan agreement will include information specific to your loan and terms.
Example Loan Amount

$100,000

Disbursement Amount

$100,000

Contracted Interest Rate

15%

Total Repayment Amount

$115,000

Term (repaid monthly)

12 months

Total Cost of Credit

$17,250

Fixed fee (or interest expense):
$15,000
Origination Fee:
$2,250
Loan Disbursement Fee:
$0
Direct Debit Fee:
$0
Facility Fee:
$0
Other Fees:
$0

Total Cost of Capital:
$17,250

This is the total amount you will pay in fixed fee (or interest expense) Expenses and other fees for the Loan. (The amount does not include fees and other charges you can avoid, such as fixed fee (or interest expense) at a default interest rate on overdue amounts, late payment fees and dishonour fees.)

Simple Annual Interest Rate *

17.65%

Loan Amount ($100,000) - Origination Fee ($2,250):
$97,750

Simple Annual Interest Rate:
17.65%

The rate of interest charged on a loan divided by loan amount, annualised.

Loan amount is amount borrowed inclusive of any origination fees.

Average Monthly Payment

$9,583

Repayment Amount:
$115,000
Term (in months):
÷ 12 Months

Average Monthly Payment:
$9,583

This is the Total Repayment Amount divided by the Term. (The Average Monthly Payment amount does not include fees and other charges you can avoid, such as fixed fee (or interest expense) at a default interest rate on overdue amounts, late payment fees and dishonour fees.)

Total Interest Percentage (TIP)

15%

Fixed fee (or interest expense):
$15,000
Loan Amount:
÷ $100,000

Total Interest Percentage:
15%

This is the Interest Expense expressed as a percentage of the Loan Amount. (The Total Interest Percentage is exclusive of fees.)

Annual Percentage Rate (APR) *

26.63%

Your Loan will have 12 equal monthly payments of:
$9,583

APR:
26.63%

This is the rate that can be used to calculate the cost of the loan, taking account of the reducing balance of the Loan Amount, expressed as an annual rate. (For these purposes, the cost of the loan is exclusive of fees.)

Cents on the Dollar

15¢

Fixed fee (or interest expense):
$15,000
Loan Amount:
÷ $100,000

Cents on the Dollar: (excluding fees)
15¢

This is the total amount of fixed fee (or interest expense) paid per dollar borrowed. This amount is exclusive of fees

* This example provides an indication of typical average fixed fee (or interest expense) costs and repayments. The actual fixed fee (or interest expense) and repayments will vary based on your individual circumstances. Fees and terms and conditions apply (including a origination fee on each advance of 1.5% for 6 months, 2.25% for 12 months, 2.5% for 18 months or 2.75% for 24 months). The repayments set out above are inclusive of fixed fee (or interest expense). Fixed fee (or interest expense) is calculated upfront and charged in instalments.

Does the early repayment of this Loan result in any new fees or charges?

No

Does the early full repayment of this Loan decrease the total fixed fee (or interest expense) or Loan Fees owed?

Yes

 
Scheduled repayment + Due fixed fee (or interest expense) = Total instalment Due on
$8,333.33 $1,250.00 $9,583.33 Due: Month 1
$8,333.33 $1,250.00 $9,583.33 Due: Month 2
$8,333.33 $1,250.00 $9,583.33 Due: Month 3
$8,333.33 $1,250.00 $9,583.33 Due: Month 4
$8,333.33 $1,250.00 $9,583.33 Due: Month 5
$8,333.33 $1,250.00 $9,583.33 Due: Month 6
$8,333.33 $1,250.00 $9,583.33 Due: Month 7
$8,333.33 $1,250.00 $9,583.33 Due: Month 8
$8,333.33 $1,250.00 $9,583.33 Due: Month 9
$8,333.33 $1,250.00 $9,583.33 Due: Month 10
$8,333.33 $1,250.00 $9,583.33 Due: Month 11
$8,333.33 $1,250.00 $9,583.33 Due: Month 12