Fees and interest rates statement

We want to be clear about the costs of a loan from Cash Relief.

Each time you take a cash advance of any amount, an Establishment Fee applies. Every loan incurs an Account Administration Fee of $6.10 per month, paid in advance. If you want your cash paid into your bank account within 60 minutes a $5 quick service fee also applies.

The interest rate is fixed at 49.5% per year or 0.136% per day. Put another way, the interest cost is $0.95 per week for every $100 borrowed.

The maximum period we allow is 42 days as these are strictly short term solutions.

These are fees you pay:

Facility Fees

  • Administration Fee* – every new loan $86.00
  • 60 Minute Transfer Fee (optional) $5.00
  • Loan interest per year 49.5% pa
  • * The Establishment Fee of $86.00 is discounted for loans under $400. Minimum amount is $55.00

Default Payment Fees and Default Interest– you may be charged these fees

  • Dishonour Payment Fee $10.00
  • Ezidebit Dishonor Fee (Direct Debit) $14.95
  • Default interest rate* %30.0

*The default interest rate is on top of the standard interest rate and is applied to the overdue portion of the loan.

If your direct debit payment dishonours, an additional Ezidebit administration fee of $14.95 will be charged where applicable. This fee will be deducted from your bank account approximately one week after the dishonoured payment.

You may be charged a Default Fee of $10 each time you miss a payment or your direct debit payment is reversed by your bank. However, if you need to alter the amount of your payment or skip a payment completely you should contact us before midday on the day your payment is due. We can change your direct debit schedule at no charge to you, however, extending your loan means you will pay more interest than originally stated because interest is charged daily.

If you miss any payments, you will be charged Default Interest at the rate of 30% per annum on the overdue portion of your loan for as long as you have an overdue amount. Default interest is extra to the standard 49.5% per annum daily interest charged on the unpaid balance of your loan.

Interest calculation

Interest is calculated daily by multiplying the outstanding balance of your loan by the Annual Interest Rate divided by 365 and at the end of seven days the calculated interest for those seven days is then added to your loan balance.

Credit Limit

The maximum loan size is $600 subject to leading criteria and based on your regular income and expenses.

Business Hours: 9:00 to 4.30 Monday – Friday.