Schedule of Fees
| Schedule of Fees | Collection Fees | |||
| • Application Fee (Unsecured Loan): | $65.00 | • Reminder Notices: | $5.00 | |
| • Application Fee (Secured Loan): | $90.00 | • Missed Installments between $6.00 & $10.00: | $5.00 | |
| • Booking Fee applied to Loans between $500-$999: | $100.00 | • Missed Installments between $11.00 & $15.00: | $10.00 | |
| • Booking Fee applied to Loans between $1000-$1499: | $200.00 | • Missed Installments between $16.00 & $20.00: | $15.00 | |
| • Booking Fee applied to Loans between $1500-$3999: | $250.00 | • Missed Installments over $21.00: | $20.00 | |
| • Booking Fee applied to Loans between $4000-$5000: | $300.00 | • Final Demand Fee: | $25.00 | |
| • Booking Fee applied to Loans over $5001.00: | $350.00 | • Prepossession Notice: | $25.00 | |
| • Refund fee: | $10.00 | • Repossession Authorisation Fee: | $45.00 | |
| • Early Settlement Fee: | $50.00 | • In house tracing Fee: | $25.00 | |
| • Security Transfer Fee: | $45.00 | • Debt Collection Transfer Fee: | $200.00 | |
| • Documentation Courier Fee: | $4.00 | • Issuance of Court Proceedings: | $100.00 | |
| • Statement Request Fee: (charged at the discretion of the company) |
$5.00 | • Restructure Fee: or 10% of the cash price(whichever is greater) |
$25.00 | |
Interest rates:
Smartcover Finance Annual Interest rates are variable depending on the customer’s credit score. The below Risk Rating chart is based on your Veda credit score.
|
HIGH RISK 0 – 350 27.95% |
POOR 351 – 550 23.95% |
FAIR 551 – 700 20.95% |
GOOD 701 – 850 19.95% |
EXCELLENT 851 – 999 17.95% |
| Does not qualify for Interest Free | Interest Free for 6 months |
Default Interest Rate:
In the event of the customer defaulting in payment of an amount payable under our contracts, interest charges will accrue on the entire overdue portion at the default interest rate of 6% while the default continues.