Interest Rates and Fees Explained

### How Interest Rates Are Determined

Your interest rate depends on:

1. **Credit score** - Higher score = lower rate

2. **Loan amount** - Smaller loans may have higher rates

3. **Loan term** - Longer terms may have higher rates

4. **Income stability** - More stable = better rates

5. **Existing debts** - Lower debt-to-income = better rates

### Personal Loan Rates

| Credit Tier | Interest Rate Range | Typical Credit Score |

|-------------|---------------------|----------------------|

| Excellent | 9.9% - 14.9% p.a. | 800+ |

| Good | 15.9% - 19.9% p.a. | 700-799 |

| Fair | 20.9% - 24.9% p.a. | 600-699 |

### Car Finance Rates

| Vehicle Age | Interest Rate Range |

|-------------|---------------------|

| 0-2 years | 7.9% - 12.9% p.a. |

| 3-7 years | 9.9% - 16.9% p.a. |

| 8-12 years | 12.9% - 19.9% p.a. |

### Credit Card Rates

- **Purchase Rate:** 19.9% p.a. (fixed)

- **Cash Advance Rate:** 21.9% p.a. (fixed)

### Fees

#### Personal Loans & Car Finance

- **Establishment Fee:** $0 - $990 (based on loan amount)

- **Monthly Account Fee:** $10

- **Late Payment Fee:** $35

- **Dishonour Fee:** $15

- **Early Exit Fee:** $0 ✓

#### Credit Cards

- **Annual Fee:** $0 ✓

- **Monthly Fee:** $0 ✓

- **Late Payment Fee:** $15

- **Overlimit Fee:** $0 (we don't allow overlimit)

- **Cash Advance Fee:** 3% of amount withdrawn

### Comparison Rates

**What is a comparison rate?**

A comparison rate includes both the interest rate and standard fees, giving you a true cost comparison.

**Personal Loan Example:**

- Interest rate: 9.9% p.a.

- Comparison rate: 11.2% p.a.

- Based on a $30,000 loan over 5 years

### Interest Calculation

Interest is calculated daily and charged monthly:

- **Daily Rate** = Annual rate ÷ 365

- **Interest charged** = Daily rate × balance × days in month