We offer three different types of loans. Essentially the length of time and the amount you are seeking to borrow affects the setup fee and interest rate that we will charge you.
If you hold a Health or Concession Card, and you wish to borrow up to $1200 for essential household items and repay within 12 months to suit your budget. You may be eligible for a NILS* loan which has no fees or interest.
Otherwise, you may be eligible for a Community Loan (*Terms and Conditions apply). Community Loans are loans between $500 and $4000.
If you choose to repay the loan within 12 months, we will charge you a 20% setup fee.*
If you choose to repay the loan over a 24 month repayment term. We will charge you 20% setup fee and 15% interest per year.*
Personal Loans (Fixed Rate)
Unsecured Personal Loans
Unsecured Personal Community Loan (loans between $500 and $4000 for 12 months)
Unsecured Personal Community Loan (loans between $500 and $4000 for 24 months)
NILS Loan – 12 month repayment
1 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 loan 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.
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 provider to work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink:
Go www.moneysmart.gov.au — MoneySmart shows you how small amount loans work and suggests other options that may help you.
*This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Clever Wealth: Pruning your LIVING BUDGET expenses -Tip 1 Housing
One of the first steps to wealth, is showing your skill and originality. Pruning your LIVING BUDGET expenses helps in many ways. By looking at all your expenses in your living budget, you can re-shape your spend and cleverly save money.
Every so often, sit down with yourself and your budget and have a good chat. Your living budget does not say much and you will do most of the talking!
But the end result usually ends up with both of you remarkably pleased with result!
It takes hands to build a house, and a heart to build a home