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Rates & Fees

Understanding Loan Pricing | Signing contract | The Loan Club

Understanding Loan Pricing

All applications are priced for risk through a costing matrix. Various factors can affect the rates and fees charged on a loan such as the applicant’s credit history, financial situation, assets and liabilities, market conditions, etc. All fees and charges will be provided to a prospective borrower via a loan quote after we have assessed your loan application. There is no obligation or cost to an applicant prior to signing the loan contract. We pride ourselves in providing quick, easy and affordable loans that are right for our clients. Call us today or apply online now.

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PO Box 870, Bondi Junction NSW 1355

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Disclaimer:

The information provided on our website is for general knowledge only and does not constitute financial advice. Please consult a qualified professional before making any financial decisions. 

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All loan applications are private and discreet. All loans are subject to meeting credit criteria. Our compliance obligations require us to collect, verify and record information that identifies each person or business who holds an account with The Loan Club. During the assessment process we will ask for details which identifies you such as name, address, and date of birth, we will also require a copy of your driver’s licence or other identifying documents and/or company documents as the case may be.

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​Commencing February 2025, minimum Annual Percentage Rate (APR) is 9.95% and the minimum annual Comparative Percentage Rate (CPR) which includes all fees and charges is 10.95%. The maximum APR is 19.95% and the maximum CPR is 20.50%. These rates are only indicative and will vary depending on many factors such as the applicant’s credit history, financial situation, ability to service the loan and assets or liabilities. Minimum repayment term is 52 weeks and maximum repayment term is 260 weeks.

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​Representative example: For a borrower who meets our credit criteria, a secured personal loan of $20,000.00 borrowed for 52 weeks with an interest rate of 9.95% per annum (CPR 10.95%), would estimate to a minimum total amount payable of $21,630.23. Rates, fees and charges are subject to change.

Warning:

These comparison rates only apply to the examples provided. Different amounts and terms will result in different comparison rates. Unascertainable costs such as discharge of mortgage, legal fees at settlement as well as administrative costs are not included in the comparison rate cost and may influence the cost of the loan.

 

The interest rate charged is determined by the loan amount and the loan term. The principal as well as fees and charges provided to an applicant will be established by the information they provide to us during the loan assessment process.

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