Money Centre charges no upfront fees to apply for a loan and it should be noted that all the loans offered are unsecured (i.e. no assets required); however processing/establishment fee, interest and a cheque cashing fee (if cash loan required) are charged.
Loan approval is at the discretion of the lender. Upon approval of a loan the customer will enter a loan contract with the lender. As part of Money Centre’s customer service regime any enquiries (eg. rescheduling a payment etc.) concerning your loan during it’s duration are to be made at the Money Centre Branch that offered your loan.
There are two types of loans that Money Centre can arrange:
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Payday loans (also known as payday advances) up to 31 days duration are offered ranging from $100 to $1000 (in $50 increments) depending on the customer’s capacity to service the loan. Maximum of $500 for first time customer; and
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Personal loans* for 3, 6, 9 or 12 months duration depending on the amount of the loan and ranging from $500 to generally $5000 depending on the customer’s capacity to service the loan. Maximum of $2000 for first time customers.
Upon an application form being completed and the required documentation submitted to a Branch the processing time for short term loans is approximately 1 hour whilst personal loans can take up to 24 hours. All loans are repaid via direct debiting the customer’s nominated account.
All Money Centre loans have terms and conditions attached which the borrower will be notified of and required to read prior to signing the contract (borrower also has the opportunity to take the contract away and seek independent legal advise prior to signing). Money Centre practices responsible lending and undertakes a capacity test to ensure that the borrower is able to meet their loan repayments.
Please contact your nearest Money Centre Branch for any loan enquiries.
* Money Centre personal loans are funded by a separate licensed credit provider, however no brokerage fees are charged for this service.
As we do not charge a brokerage fee, the Comparison Rate will be the same for all cash loans as shown in the Schedule below.
Cash Loan Term of Loan Annual Percentage Rate Comparison Rate
$500 - $5,000 3 - 12 months 14.6% Not Exceeding 48%
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