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

Interest Expense:
$15,000
Establishment 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 Interest Expenses and other fees for the Loan. (The amount does not include fees and other charges you can avoid, such as interest at a default interest rate on overdue amounts, late payment fees and dishonour fees.)

Simple Annual Interest Rate *

17.65%

Loan Amount ($100,000) - Establishment 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 establishment 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 interest at a default interest rate on overdue amounts, late payment fees and dishonour fees.)

Total Interest Percentage (TIP)

15%

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:
34.53%

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¢

Interest Expense:
$15,000
Loan Amount:
÷ $100,000

Cents on the Dollar: (excluding fees)
15¢

This is the total amount of interest paid per dollar borrowed. This amount is exclusive of fees

* This example provides an indication of typical average interest costs and repayments. The actual interest and repayments will vary based on your individual circumstances. Fees and terms and conditions apply, including a 1.5% establishment fee on each 6 month advance & 2.25% establishment fee on each 12 month advance. The repayments set out above are inclusive of interest. Interest is calculated upfront and charged in graduated 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 interest or Loan Fees owed?

Yes

 
Scheduled repayment + Due interest = 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