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Rates, Fees & Charges - Costs Of Borrowing

Updated 1 JUNE 2021

Our Rates, Fees and Charges for Consumer Credit lending are below and are accurate at the date of viewing this Costs of Borrowing page. We reserve the right to alter these at any time due to updated calculations as to the current reasonableness of any one or multiple fees, and will update the amount and nature of any fee change on our website immediately upon making any such alteration.

This Costs of Borrowing page is accurate for Consumer Lending only.

To find out more about each fee type and what it means, please click on the name of the rate, fee or charge.

Interest and Default Interest Rate

Loans provided through are interest free but you may only obtain this loan once.

When you finish your loan you may be interested in obtaining further finance. This will be subject to Real Finance’s current interest rates (also check out our current promotions). The rate applicable to you will depend on your specific circumstances, taking into account:

  • How much you want to borrow.
  • The term of your Loan.
  • Your income and other financial commitments.
  • Your credit history.
  • What collateral (if any) is being offered to secure your loan.
  • Any other pertinent information.

In the event of a default in your repayments and while the default continues, you must pay the Default Interest rate on the overdue portion of your loan.

Default Interest is calculated daily on only the overdue portion of your Loan account, and is debited to your account weekly.

The Default Interest rate is 20.00% per annum.

Initial Fees (Establishment Fees & Third Party Charges)

This is the fee associated with establishing your loan, including processing and approving your loan application, identity verification requirements, affordability assessments and analysis, risk analysis, anti-money laundering and terrorism financing procedures, documenting the loan, providing and explaining the documentation to you and any other party in full and then providing you with the loan funds once you have signed up and returned all documentation.


This is the cost to us of searching the Personal Property Security Register before accepting you as a client.


This is the cost to us of checking your credit history with Centrix. This is our preferred credit bureau, but if enough information cannot be provided by them to allow us to approve your application, we may choose an additional credit information provider.


This is the cost to us of checking your credit history with Equifax Limited.


This is the cost to us of providing your loan disclosure documentation, or repayment forms to you via our secure third party provider – Secured Signing.


This is the cost to us of collecting your bank statements electronically via our secure, third party provider Credit Sense. This fee may arise during an application or ongoing via a Credit Fee, where we are required to re-assess your affordability.


This is the cost to us of biometrically verifying an individuals identity via a third party provider called APLYiD.


Credit and Administration Fees

This is the monthly cost of keeping your loan account active, including providing you any mandatory loan statements, running &/or receiving &/or placing repayments, ongoing AML-CFT compliance (including transaction and account monitoring), account maintenance and any other administrative tasks needed, and is debited to your account at the end of each month where your account has an outstanding balance.


Real Finance is required to provide you with Loan Statements every 6 months. A Loan Statement fee is charged only where you request a loan statement, either for yourself or for another company additional to this.


Default and Enforcement Fees

Charged each month (part charged weekly in arrears) that your loan account is in arrears. This fee compensates us in part for the resources required to enforce the terms and conditions of your account should you enter into default including contacting the parties to the loan, and dealing with outcomes. The fee can be avoided all together by maintaining your account in an up to date state.


For each time we contact you via SMS about any breach of your loan.


For contacting you or another party to the loan (or a related party) via telephone (landline or mobile) about any breach of your loan agreement.


Where Real Finance has a Consumer Monitor loaded against you with Equifax Limited or another credit bureau, and they notify us of an update to your credit file, which we then act on.


Where we send you correspondence about your loan arrears or other breach of contract.


Where we send you a legally binding notice about the enforcement of your loan account, due to arrears or other breach of contract.


When a payment made onto your Loan is reversed (dishonoured), we may charge this fee to receive the notification from your bank, process the reversal and notify the borrower/s.


Where one of our staff has to visit you (or any co-borrower) or attend any meeting in relation to your loan.

$36 per Hour

Where one of our staff has to travel to visit you (or any co-borrower) in relation to any breach of your loan contract.

$64 per Hour

For time spent administering your account, if in non-financial default or any other breach of your loan contract.

$36 per Hour

For any costs of Court Action, Debt Collection, Legal Action etc. The costs are third party charges, added to your account.

Dependent on Action Taken