Products and Prices

Typical Loan Product Information*:

Loan Man
  • Loan Sizes : $500 - $5,000 or up to $50,000
  • Loan Terms: 3 months to 1 year or up to 7 years
  • Interest Rates: 6% to 19% to 29%
  • Your credit history and requirements will determine your options^
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The generally accepted groups of credit grades, and hence prices across these, are set out as below. * Please look at the tables below for more detailed information. ^ All applications are subject to approval and will be assessed separately by reference to the applicants individual circumstances.
Credit Grades Veda Score Typical Loan Interest Rate Typical Average Unsecured Personal Loan Amount
Low Risk
(Prime or good credit)
700+ 9-19% $25,000
Moderate Risk
(Near Prime credit)
400 – 700 20-29% $12,000
Higher Risk
(Sub-Prime or bad credit)
<400 30-48% $2,500

Veda is one of the major credit reporting bureau in Australia, Dunn & Bradstreet is the other, and while your score may differ between bureaus, the principles remain the same.

We fund small and medium personal loans up to $5000, and source customer’s larger personal loans up to $50,000 where they meet a lenders criteria.

Small Loans Pricing

At Fair Go Finance we reward you with a discount on your second loan, given you will have demonstrated a positive repayment history on your first loan.

New Customers
Min Loan Max Loan Average Term Typical Establishment Fee Monthly Fee Interest Rate per Annum Comparison Rate
Small Amount Loans A$500 $2,000 5 months 20% 4% of principal 0% N/A
Medium Amount Loans A$2,250 $5,000 8 months $460 - $695 $5 29.9% 39.9%
Examples
Loan Amount
(Australian Dollars)
Available Term Repayments per week
(depends on affordability)
Establishment Fee Monthly Fee Interest Rate per Annum Comparison Rate
500 3 – 5 months $33 up to $155 $100 $20 0% N/A
1750 3 – 11 months $61 up to $178 $350 $70 0% N/A
2250 4 – 12 months $62 up to $169 $460 $5 29.9% 38.1% - 44.6%
4500 7 – 12 months $116 up to $188 $635 $5 29.9% 41.3% - 46.8%
Mates Rates Discounts

Once you have demonstrated a good repayment history on your first loan we will reward you with an express service and, depending on the loan amount, a reduction on your establishment fee / interest rate. See table below.

Loan Amount Min Loan Max Loan Reduction Applied to Establishment Fee Reduction Applied to Interest Rate Express Service
Small Amount Loans $1000 $2,000 $50 0% YES
Medium Amount Loans $2,250 $5,000 $50 5% YES

Larger Personal Loans

Loans where we find a lender for you:

When customers outgrow FGF or meet the lending criteria and credit grade for a larger loan, we will research larger loans for you (combination of price and features) from our panel of lenders.

Below are some examples of larger loans. This chart shows, on average, the typical establishment fee, interest rate, weekly repayment and comparison rate for that size loan. As these loans are sourced from a panel of external lenders, these examples are for general information only and may not be the exact terms you are offered. We will always discuss the features, interest rate, commission and fees with you at the time of application.

Average Loan Typical Use Average Term Typical Establishment Fee Interest Rate Weekly Repayment Comparison Rate
A$15,000 Holiday, car purchase, medical 4 years $395 9% p.a. $89 12.9% p.a.
$40,000 Debt consolidation, home renovations 7 years $150 13.95% p.a. $176 14.81% p.a.
Warning: The comparison rates provided are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

General information about the Australian personal loan market

Your eligibility for a personal loan and the interest rate that you are charged on a personal loan is driven by the level of perceived risk and the cost of providing the service. A range of factors in an application indicate the level of risk and one of these is your credit history, which is commonly referred to as your “credit score”. In Australia, a credit score is often used by lenders to predict whether an adverse event, such as a loan default or bankruptcy, will occur in the next 12 months. It’s based on your credit history for the last 5 or 7 years. As your credit score increases, the perceived risk of an adverse event decreases, and vice versa. The higher your score, the better your chances are for obtaining finance at a lower rate.