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Monzi Address

Monzi:

20 Douglas Street, Milton,
4064, Brisbane.

Tel: 1300 270 284

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    Factor In

    Costs

    Two credit cards
    Two credit cards

    You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

    Loan amount

    $300 - $2,000

    Terms

    12 months

    Costs

    20% upfront establishment fee

    + 4% monthly fee

    Example

    Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

    Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

    Loan amount

    $2,001 - $4,600

    Terms

    13 months

    24 months

    Costs

    48% annual percantage rate

    67.41% comparison rate p.a.

    Example

    Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

    The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

    Loan amount

    $5,000 - $10,000

    Terms

    13 months

    24 months

    Costs

    21.24% annual percantage rate

    48% comparison rate p.a.

    Example

    Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

    The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

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