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Borrowing rates and fees

Borrowing rates and fees

A new way to borrow

The following rates are for registered borrowers only and may change at any time.

Please see the table below which outlines the indicative borrower interest rates for our secured loans in each Zagga Credit Assessment Score category.

Indicative borrower interest rates (effective 1 September 2016)

The following interest rates for borrowers are indicative only and may change at any time.

  A B C D E F
1 6.34% 6.84% 7.54% 8.44% 9.94% 11.74%
2 6.59% 7.19% 7.99% 8.94% 10.54% 12.49%
3 6.84% 7.54% 8.44% 9.44% 11.14% 13.24%
4 7.09% 7.89% 8.89% 9.94% 11.74% 13.99%
5 7.34% 8.24% 9.34% 10.44% 12.34% 14.74%

All rates are expressed as nominal annual percentage (%) rates. Rates can be impacted by actual loan terms and conditions on a case by case basis.

Platform fees (effective 1 September 2016)

  A B C D E F
1 1.00% 2.00% 3.00% 4.00% 5.00% 7.00%
2 1.00% 2.00% 3.00% 4.00% 5.00% 7.00%
3 1.00% 2.00% 3.00% 4.00% 6.50% 7.00%
4 2.00% 3.00% 4.00% 5.00% 6.50% 7.00%
5 2.00% 3.00% 4.00% 5.00% 6.50% 7.00%

A platform fee is charged to the borrower once the loan has been fully funded. It is calculated as a percentage of the principle loan amount at the commencement date of the loan.

Legal fees

Borrowers are subject to pay a legal fee payable to the Trustee and being the reasonable legal fees of the Trustee for the preparation and completion of the Loan agreement and associated securities, payable on drawdown of the Loan being:

  • $850 plus GST for Loan amounts less than $100,001;
  • $1,450 plus GST for Loan amounts greater than $100,000 but less than $500,001;
  • $1,850 plus GST for Loan amounts greater than $500,000; or
  • as notified to and agreed by the Borrower for non standard loans and/or securities.

Fees if a loan goes into default

Your interest rate will attract default rates of 5% above your normal interest rate, as agreed in the Term Loan Agreement, as well as all other costs incurred in the management of your loan whilst in default and the recovery process.

Please follow this link to see an example of our Term Loan Agreement document. Please note this is a draft template which may vary from loan to loan, as agreed between parties.