Tag: cash

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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5-Apr

How to Improve Your Credit Score in 7 Steps

How to Improve Your Credit Score in 7 Steps

Looking for tips and best practices on how to improve credit score? A credit score is one of the most important indicators of your financial health. It informs lenders how responsible you are in managing your loan. The higher your score, the better chance you have to be approved for new loans or lines of credit. With a good credit…

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28-Mar

Beginners guide to loans

Beginners guide to loans

A loan is an amount of money that must be repaid with interest. Loan applications were once submitted in person at a storefront. Credit companies may now take loan applications online and make approval decisions in a matter of minutes, thanks to technological advancements. On the market, there are a range of loan kinds, each with unique characteristics that cater…

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22-Mar

Requirements for an unsecured personal loan

Requirements for an unsecured personal loan

Most personal lenders will give you money ranging from $2,000 to $40,000. Without breaking the bank, an unsecured personal loan might actually assist you handle your urgent expenditures. With a decent credit score, you’ll have a better chance of getting a loan with a reduced interest rate. If you have a bad credit history or none at all, you will…

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17-Mar

Dealing with Gambling Debt

Dealing with Gambling Debt

Gambling addiction is a serious problem in Australia. With gambling bringing in near to $20 billion dollars every year in Australia, you can say that there are more than just a handful of people who gamble in Australia. People with a gambling addiction, feed this fire through saving accounts, loans, and credit cards. However, the real question is not how…

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16-Feb

Payday Loans vs. Short Term Loans

Payday Loans vs. Short Term Loans

Unexpected events happen regularly and many times, people are forced to look for cash to save the situation. Some circumstances that require quick cash include sudden funerals, home and motor vehicle repairs. Over the years, money lenders have diversified their products to cater to the insatiable demand for quick loans. Payday loans and short term loans are popular solutions to financial…

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6-Feb

Pros of Payday Loans

Pros of Payday Loans

Payday loans have gained popularity over the years despite facing backlash and criticism from lawmakers and financial advisers over their strict terms. Some of the factors that make these loans popular are fast processing times that offer a quick solution to financial emergencies. Payday lenders do not give much thought to the borrower’s credit history and are highly sought after…

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11-Jan

Managing Your Money When Times Get Tough

Managing Your Money When Times Get Tough

When you take a look at any decade on a personal scale, or even globally, you will find many economic ups and downs. Take the 2007-2008 economic downturn for example. That catastrophe particularly caused billions in losses to companies and individuals. Many companies went bust, and many lost a good portion of their retirement fund as well as their jobs.…

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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.