Initial costs of borrowing

Annual interest rate 37.25%. Interest charges are calculated multiplying the unpaid balance at the end of the day a daily interest rate. The daily interest rate is calculated dividing the annual interest rate 365. Interest is charged to your account every end of month. If you pay more than the regular payment amount the account will receive less interest. If you pay less than the regular payment amount (or miss payments) the account will receive more interest than what is estimated.

Monthly administration fee $12.50 The administration fee is charged at the end of every calendar month while a balance is outstanding.

Additional costs of borrowing The following charges will apply if the specific services are required during loan application or loan maintenance.

The fee amount may be varied with a minimum of TWO MONTHS written notice from the creditor.

Early settlement of a loan agreement may attract a $10 early settlement administration fee.

Third party costs of borrowing Services as required a third party may be passed on if required during loan application or loan maintenance. The below table shows a list of the current third party services currently used along with an indication of costs.

The fee amount may be varied in accordance with the third party fee schedule. Amounts invoiced to DCO FINANCE will be passed on at cost.

Payment protection

Repayment Waiver Repayment waiver is an agreement under which DCO FINANCE (for an additional fee) agrees to waive their right to the balance payable (excluding arrears) under certain circumstances. The repayment waiver covers the events of terminal illness or death of a borrower. It is not an insurance and is completely voluntary.

For all Fixed Term Loan Agreements, the fee for this is charged once upon the loan agreement opening with the range being from $15 – $430 per borrower depending on the amount borrowed, type of cover required and the number of borrowers on the loan agreement. If you decide to have the repayment waiver for a Fixed Term Loan, this can be cancelled within 10 working days written notice if you change your mind.

For revolving credit loan agreements (Mini Flex & Flexi), you can opt to have a repayment waiver for a cost that is charged at the end of each calendar month for the following month. This cost is $2.50 per month for MINI FLEX and $5.00 per month for FLEXI. Revolving repayment waiver can be cancelled at any time either you or DCO FINANCE with 1 months written notice.

What could happen if you fail to meet your commitments All our lending products are secured either household chattels or a motor vehicle. Either a security declaration is completed, or a site inspection is done to record identifying details of the security offered, with this description being noted on the loan agreement. If you fail to meet your commitments under the loan agreement, DCO FINANCE may be entitled to repossess and sell these items. Should the sale of these items not cover the unpaid balance of your account, you will be liable for this. The extent to which your obligations are secured to the items used as security is the unpaid balance of the loan agreement.

Default charges and fees

$10.00 Default Administration Fee (This is charged each month while the account is in default to cover the increase in administration costs).

Additional default fees The following charges may apply if the specific services are required as a result of a default.

The fee amount may be varied with a minimum of TWO MONTHS written notice from the creditor.