ONLINE LENDING YOU CAN TRUST
As a responsible finance broking service, we are dedicated to offering you quick and convenient services from the privacy of home. Your satisfaction is important to us. That's why we're making it our top priority to work with lenders who follow responsible lending practices.
FINANCE BROKER SERVICE
DollarsDirect will not be the lender for loans received at this site. DollarsDirect is a finance broker. As a finance broker, we will attempt to arrange a loan between you and a third-party lender and assist you in providing the necessary information and documents to the lender. In consideration of DollarsDirect's services to you, you will pay DollarsDirect a broker fee.
LOAN SERVICE
If we successfully arrange a loan between you and a third-party lender, we may service that loan on behalf of the lender. Any questions, service issues or complaints about your loan will be addressed by DollarsDirect and not the lender.
Loan Terms
- The maximum loan amount for Australian residents will be $1500.†
- Your loan will be due on your next payday that falls between eight and 40 days away. If your pay dates fall outside of this range, your loan will be due in 14 days.
- If you are paid by paper cheque, we will give you a grace period of one day to deposit your cheque.
- You have the right to cancel your loan within 24 hours of signing your loan contracts by filling out the cancellation form.
BROKER FEE AND LENDER INTEREST
DollarsDirect is a finance broker that can help match you to a lender. In exchange for our services, we will charge you a broker fee. Generally, we will only charge you a fee if we successfully find you a lender that approves your loan application and issues you a loan. DollarsDirect charges you $25 per $100 borrowed.
You will enter into a loan contract with the lender. The lender will charge you interest. Our lenders typically charge interest of up to 24.00% per annum.
Please note that short-term loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counselling.
| Average Annual % Rate Less 2% | Average Annual % Rate Less 1% | Average Annual Percentage Rate | Average Annual % Rate Plus 1% | Average Annual % Rate Plus 2% | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Amount of Credit | Term of Loan | APR | Comparison Rate | APR | Comparison Rate | APR | Comparison Rate | APR | Comparison Rate | APR | Comparison Rate |
| $250 | 2 Weeks | 22% | 679.70% | 23% | 680.95% | 24% | 682.20% | 25% | 683.45% | 26% | 684.71% |
| $600 | 8 Weeks | 22% | 190.55% | 23% | 191.80% | 24% | 193.05% | 25% | 194.30% | 26% | 195.55% |
| $1000 | 6 Months | 22% | 77.13% | 23% | 78.38% | 24% | 79.62% | 25% | 80.88% | 26% | 82.13% |
| $1500 | 1 Year | 22% | 52.52% | 23% | 53.77% | 24% | 55.01% | 25% | 56.27% | 26% | 57.52% |
Warning: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Loan Repayment
You have the option to refinance your loan a maximum of four times. If you choose to refinance your loan, you only pay the minimum amount (equal to your original broker fee) and the accrued interest. The remaining principal of the original loan will be paid off by a new loan. This new loan will carry with it additional interest and broker fees. By refinancing your loan, you are entering into a new loan contract and broker agreement. Refinancing and early payoff requests must be received by 3pm AEST two business days before your due date. You may request these changes by logging into your personal account or calling our Customer Service team. For more information on refinancing, visit our FAQ page.
Contact Us
For additional questions, please feel free to view the FAQs or Contact us.
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