Yes, you can repay a loan early. If you choose to, you will only pay the remaining principal plus a pro rate of the instalment of the interest cost for that payment period.
No, there are no other charges or costs if you take a standard loan and comply with the terms of your loan.
If you are required to provide security as a precondition to a loan, we may charge fees relating to the registration of a security. We will obviously notify you if this is relevant prior to you entering into a loan.
The only other charges that may apply are dishonour/late fees and default interest (which will only apply if you fail to pay a scheduled repayment on time) and our enforcement costs if you default. If you are in default, instead of requiring you to repay your loan at that point we may charge an additional risk margin (but will always give you prior notice and an opportunity to avoid that additional margin by repaying the loan instead).
Borrowers must generally meet the following minimum criteria:
Other lending criteria will apply. Typically, we do not lend to businesses in the property development or regulated utility industries.
With only 10 simple online questions to complete, along with identity and data verification, an application takes just minutes. You’ll generally get an answer from us within a few business hours. There’s no paperwork to fill out, and we accept electronic signatures. Finally, once your loan is approved, the funds are deposited in your account within 24 to 72 hours.
