Essential Information

Why are the loans different?

We offer two different types of loans. Essentially, the length of time and amount you are wishing to borrow, affects the setup fee and interest rate that we will charge you.

Are there any other fees?

No. The setup fee covers looking after you and and your loan.

How much can I borrow?

You can borrow between $500 and $4,000.

What is the minimum and maximum period for repayment?

You can choose to borrow between 6 months and 24 months (2 years).

What is your maximum Annual Percentage Rate?

It depends on the type of loan and for how long. Our APR ranges between 0% and 35%.

What else?

Here is a representative example of the total cost of the loan, including all applicable fees.

We offer two different types of loans.

  1. If you hold a Health or Concession Card, and you wish to borrow up to $1200 for essential household items and you repay within 12 months to suit your budget. You may be eligible for a NILS* loan which has no fees or interest.
  2. Otherwise, you may be eligible for a Community Loan (*Terms and Conditions apply). Community loans are loans between $500 and $4000.
    1. If you choose to repay the loan within 12 months, we will charge you a 20% setup fee*.
    2. If you choose to repay the loan within 24 months, we will charge you a 20% setup fee and 15% interest per year.*

Personal Loans (Fixed Rate)

Unsecured Personal Loans Setup Fee Interest Rate Comparison Rate*
Unsecured Personal Community Loan (loans between $500 and $4000 for 12 months) 20% 0% 35%
Unsecured Personal Community Loan (loans between $500 and $4000 for 24 months) 20% 15% 34.4%
NILS Loan – 12 month repayment 0% 0% 0%

*The comparison rates displayed are calculated for unsecured personal loans based on a loan amount of $2,500 over a 2 year loan term and for unsecured personal loans based on a loan amount of $2,500 over a 1 year term.

*Warning: The comparison rate applies only to the 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.

*Foresters Community Finance is accredited through Good Shepherd Microfinance to provide NILS.