Charges

Easy Payday Loan Charges

Payday loans are an easy, fast hassle free lending which lets you borrow money until your next payday. 

Typically payday loans through Easy Payday Loans work on a straight forward basis, that for every $100 you borrow, you will repay an extra $24. So if you find yourself needing an extra $100 till payday, you will repay $124 on your pay date. 

 

Payday Loan Cost

The simple calculation gives you a straight forward cost structure

20% of principal amount (establishment see)

+ 4% of principal amount per month.

 

Penalties relating too late or non-payment

During your loan application process and before signing your loan agreement you will be provided will full details of the loan including amount of credit you are borrowing, the lender and your repayment due date for your loan.

You must only borrow what you can afford to repayment on your payday to make sure you can repay the loan amount in full on or before the repayment due date. As late payments or missed payments could result in fees and charges from the lender. This may also increase the overall amount that you owe.

Remember when making repayments to take into consideration any non working days, weekend or bank holidays as these can affect processing times.

When signing your loan agreement you are contractually obliged to repay monies that you owe, including loan amount, interest and any interest or charges.

Disclosure of Fees

Easy Payday is a broker and not a direct lender, there is no charge for you to use this service. Any fees incurred will be via the specific lender and will have been made clear in your loan agreement. Easy Payday endeavours to only work with responsible lenders who adopt reasonable practice and are fully licensed loan lenders. 

Easy Payday aims to make the process of you obtaining a loan as straight forward and as transparent as possible. By providing all relevant information before and during the application process. 

 Warning About Borrowing

This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow: For information about other options for managing bills and debts,ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor

  • Talk to your electricity,gas,phone or water providers to see if you can work out a payment plan
  • If you are on government benefits,ask if you can receive an advance from Centrelink:phone 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you

How much does it cost?

Representative Example: $200 borrowed for 30 days. Amount payable is $248. Interest and fees are $48.

Payday Loans have the following simple cost structure:

20% of principal amount (establishment fee)

+ 4% of principal amount per month.

See our charges page for more information on loan repayments.

What Happens If I Can't Repay On Time?

If you can't repay on time please let the lender know immediately so they can reschedule the repayment. The fee for missing repayments can vary with each lending but could be in the region of $35.

Your lender will endeavor to contact you to try and sort out an affordable arrangement. If your account continues to be unresolved, daily fees will accrue.

Contact Details

EasyPayday.com.au are a referrer of Pingtree PTY Ltd,

Unit 4, 134 Constance Street, Fortitude Valley, Queensland 4006

Loans available to over-18s only, subject to status.

ACL Number (434380)

Registration Number: 159 893 491 I @ 2014

Pingtree PTY Ltd are an Australian based credit licensed finance broker. They attempt to match you with a reliable licensed lender willing to give you a short term loan.