Tag: Cash Advance Loan

29-Apr

All about fintech and Payday loans

All about fintech and Payday loans

How has the internet and tech changed the way we think about loans? It’s difficult to remember, but not all that long ago anyone looking to take out a loan or open an account rarely looked beyond their own high street bank. There was little choice in the market and even products offered by competitor banks or building societies often…

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22-Apr

5 helpful tips if you miss a credit card payment

5 helpful tips if you miss a credit card payment

It’s very easy to miss a payment for a number of reasons. Whether it’s an honest mistake like cancelling the direct debit by accident, or not having the funds in your account on the day of collection, it’s never a good feeling regardless of the cause. Left unresolved, it could be a costly mistake. You might be able to minimise…

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12-Apr

5 Benefits of Getting Personal Loans

5 Benefits of Getting Personal Loans

Personal loans are one of the strongest credit alternatives accessible, and smart people use debt to their advantage. You can take out personal loans to swiftly patch in a financial gap rather than maxing out your credit cards or endangering your house or possessions. Personal loans, while not that widespread, are fast gaining popularity due to their numerous advantages over…

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16-Feb

Loans for Gamblers

Loans for Gamblers

Gambling is a big issue all over the world, but especially in Australia. A shocking one-third of Australians are in debt because of gambling, and that’s a lot. So, most gamblers, if not all, find themselves resorting to borrowing very often, but what kind of options are right for gamblers? Continue reading to find out. Types of Loans for Gamblers…

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5-Feb

Pay off loan faster

Pay off loan faster

Taking out a loan is a financial commitment, and it pays to take that seriously. Although, as a borrower, you agree to a loan term with their lender at the point of taking out the loan, you can often repay faster if you are able. A good lender shouldn’t penalise you for repaying your loan earlier through early repayment penalties,…

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30-Nov

Loan Guides

Loan Guides

There are lots of reasons why you may need to borrow money, whether you’ve been hit with an unexpected bill or you’ve got a big purchase coming up, you will want to find the loan that’s right for you. This can be difficult though with all the different ones available, that’s why we have put together these loan guides. Hopefully,…

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5-Oct

Getting Quick Cash from MyCashOnline

Getting Quick Cash from MyCashOnline

If you need cash quickly to solve a short-term financial problem, we could help you find a solution. Even if you have bad credit or have made mistakes with managing your finances in the past, you may still be a good fit to take out a loan product through MyCashOnline. 1. When will I receive the money? Speed is central…

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*Disclaimer & Example: For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn't apply. These loans are fee-based only with a term between 62 and 180 days, and so the APR is 0%. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed. Representative example: a loan of $1,000 repaid over 3 months equates to a total amount payable of $1,320 comprised of $1,000 principal (amount borrowed), $200 establishment fee and $120 in monthly fees. The maximum comparison rate on loans between $300 and $2000 is 199.43%.
For our Medium Loans between $2,100 and $5,000, with a term between 2 months and 12 months, the maximum Annual Percentage Rate (APR) is 48% (Comparison rate 65.6597% p.a.) and there is a $400 Establishment Fee. A Medium Loan of $3,000 borrowed over 1 year would equate to a total amount payable of $4,289 (including a $400 establishment fee).

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.

© 2022 Owned by Australian Synergy Finance Pty Ltd, ABN 54 613 655 646. Australian Credit Licence 490422. The information on this webpage is general information only and does not take into account your objectives, financial situation or needs.