Fees & Charges We believe in complete transparency, When you get a loan from us, you will know exactly what it will cost – upfront.

Schedule of fees   If you would like a more personalised quote for your specific situation please contact us.

Initial costs of borrowing

Annual interest rate 37.25%. Interest charges are calculated by multiplying the unpaid balance at the end of the day by a daily interest rate. The daily interest rate is calculated by dividing the annual interest rate by 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.

Loan Type

Max  Amount

Max  Term 

Establishment Fee

RAPID

$500

6 Months

$95

MINI FLEX

$500

Revolving

$165

URGENT

$1500

12 Months

$245

FLEXI

$2300

Revolving

$295

EXTENDED

$3000

15 Months

$345

LONG

$5000

24 Months

$425

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.

Charge

Description

$50

Withdrawal

$10

Direct Debit Set Up /Amendment

$95

Revolving Facility Credit Reinstatement

$50

Refund(Not applicable if no outstanding balance)

$2.50

Emailed/Printed Statement(If required in addition to ongoing disclosure provided)

  

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

Third party costs of borrowing Services as required by 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.

Charge

Description

$1.15

PPSR Search

$8.05

PPSR Registration

$6.90

CENTRIX Credit Check

$3.16

CENTRIX Smart ID

$6.90

WHEELS Vehicle Check

$12.82

VEDA Credit Check

$14.75

VEDA Auto Check +

TBA

Security Inspection

TBA

Mobile Lending

Max $30

Lead Market

$1.95

Illion Bank Statements

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 by 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 by 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.

Charge

Description

$2.50

SMS or Email Default Notification

$15

Posted Default Notification

$25

Formal Demand / Warrant Issue

TBA

External Company services