Our interest rates range from 8.95% p.a. to 15.95% p.a and are fixed for the full period of the loan (unless as amended pursuant to the loan agreement). The rate charged will depend on your financial circumstances and takes into account the following:
To better understand the rate that you qualify for, give our friendly team a call on 0800 85 30 30.
Default interest rates
If you miss an amount when it’s due, a default interest rate of 6% per annum will be charged above the then current interest rate.
Below is a detailed list of our fee schedule of standard fees and charges which is applied to our consumer loans and security contracts
We will charge you this fee for processing a new loan application made directly to us, including approval and acceptance.
We will charge you a fee of up to $120.00 for processing a new loan application via an intermediary, including approval and acceptance.
We may charge you a fee of up to $500.00 which we will pay to any dealer/ broker/introducer who refers you to us in relation to the Loan.
We will charge you this fee for registration of our security interest in the Goods.
We will charge you this fee if you overpay us and we have to refund you.
Debited to the account when a loan is settled in full before its final payment date.
We will charge you this fee if we give you (at your request) an additional statement. We do not charge you this fee for providing any six monthly continuing disclosure statements.
We will charge you this fee if you or the guarantor assign or transfer any of your rights or obligations under your loan agreement (with our prior written consent).
If we register a caveat over any of your property at any time, we will charge you caveat registration and release costs for each property.
If we register a mortgage over your property at any time, we will charge you mortgage registration costs.
We will charge you this fee if we agree you can make an unscheduled part repayment of the loan and we have to change the amounts and dates of your payments as a result, or if we agree to release our security interest in Goods over which you have granted us a security interest and substitute it with a security interest over other Goods.
We will charge you this fee if we change the terms of the Loan to help you if you are having difficulty keeping up with your payments, or if you want to change the term (length) of the Loan.
We will charge you this fee if we have to send you a Repossession Warning Notice. We usually do this between 12-15 days after you have breached your loan agreement (e.g. overdue payments).
We will charge you this fee if we have to send a couriered letter. (We usually only send couriered letter after expiry of Repossession Warning Notice when we are having difficulty contacting you. The couriered letter would ask you to contact us to avoid further ‘enforcement action’.)
We will charge you this fee if your bank dishonours a payment you make to us.
We will charge you this fee if we have to instruct an agent to repossess any personal property over which you have given us security (for example, due to overdue payments).
We will charge you this fee if we have to repossess the Goods.
We will charge you a fee if we have to sell the Goods.
We will charge you any costs charged by third parties relating to your loan or your loan agreement (e.g. repossession agent, legal provider, and repairer). We can provide copies of the invoices on request.
If we charge you any of the above fees or costs, we will add that amount to the principal amount of your loan. That means we will charge interest on that amount until you pay it.
Lending criteria, fees and charges apply. MARAC is a division of Heartland Bank Limited.