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A Safe Mini Loan is a small personal loan. This means, if approved, you'll receive cash directly into your bank account.
We offer two types of personal loans - a Small Amount Credit Contract ('SACC') for loans from $500 to $2,000 and a Medium Amount Credit Contract ('MACC') for loans from $2,001 to $5,000. These loans are regulated under the National Consumer Credit Protection Act (2009).
As long as you are a Permanent Australian Resident, 18 years of age or older, have a bank account and phone in your name, and a driver’s licence or 100 points of ID, you’re welcome to apply.
For new clients (never had a loan with us before), you need to be working. You can also be receiving Centrelink benefits, but your take home wage needs to be at least $700/week. We are unable to accept an application if you only receive Centrelink benefits.
* Please note if you are a past client and have had a loan with us before you are welcome to reapply whether you meet this criteria or not.
You can apply for any amount from $500 to $5,000. All enquiries are welcome and we try to help everyone.
For loans up to $2,000 we charge an establishment fee and set monthly fees instead of interest. The maximum establishment and monthly fees are set out below:
| Loan amount | Establishment fee | Monthly fee |
|---|---|---|
| $500 | $100 | $20 |
| $1,000 | $200 | $40 |
| $1,500 | $300 | $60 |
| $2,000 | $400 | $80 |
For loans greater than $2,000 and up to $5,000, an establishment fee of $400 and a loan management fee of up to $399 applies, depending on the loan amount. We have a starting interest rate of just 8.7%, up to a maximum Annual Percentage Rate (APR) of 48% per annum depending on the loan term and amount. Comparison rate is 66.25%*
Loan cost examples
Let’s say you want to borrow $1,000 for an unexpected expense. The fees that will apply are a one-off establishment fee of $200 plus a monthly fee of $40 for the term of the loan. Our minimum loan term for a $1,000 loan is 26 weeks. So in this example, the total expected repayment amount over 26 weeks will be $1,479.92 — $1,000 principal loan that you borrowed, plus a $200 establishment fee and $279.92 in monthly fees.
Or, if you are looking for a larger loan of say $2,100 over 40 weeks, the total expected repayment amount for a weekly payer is $2,999.20 — $2,100 principal loan that you borrowed, plus a $400 establishment fee, $399 loan management fee and interest of only $100.20.
In both these loan examples, you will save on either monthly fees or interest if you decide to repay the loan sooner.
Our loan terms vary depending on the amount you wish to borrow. We have a minimum and maximum term for loan amounts up to $2,000, which are shown on our mini loan calculator and in the table below.
| Loan Amount | Minimum Term | Maximum Term |
|---|---|---|
| $500 | 13 weeks | 26 weeks |
| $1,000 | 26 weeks | 50 weeks |
| $1,500 | 26 weeks | 50 weeks |
| $2,000 | 26 weeks | 50 weeks |
For loans greater than $2,000, we offer a term of 40 weeks only. There are no restrictions or penalties for repaying your loan early. You could save on interest or fees should you choose to do this.
Our simple loan calculator gives you a choice of terms for repayments including all fees, charges and interest. Plus there are no penalties for early payouts.
There are no application fees, so it costs absolutely nothing to apply for a Mini Loan. Fees are only payable if we approve and fund your loan.
The best way for you to apply is online (it only takes a few minutes). Then, to finalise your loan application, we will need to speak with you to confirm certain questions - so you will need to be contactable by phone during our office hours.
You are welcome to apply if you have some bad credit - in many cases we are able to approve applications for people that have had past credit problems. However, we would discourage you from applying if you have multiple unpaid loan defaults on your credit report or are currently in a Part 9 Debt Agreement.
If you are a new client and your sole income is Centrelink benefits then unfortunately we cannot take an application at this stage. We can only accept an application from new clients if you are receiving wages and or certain other payments like DVA pension, Docs, Superannuation Payments.
Yes, during the application process a credit check will be performed.
Yes, to process your loan application we need to make an assessment of your ability to repay your loan and this includes sighting your bank transaction history. This is done securely by you sending us a read-only copy of your transaction history.
We will do our very best to approve your loan application, however we cannot guarantee approval in all cases. When looking to approve a loan, we will look at affordability (can you comfortably afford the repayments), your credit history (some bad credit is still considered) and other things like occupancy, employment (if working) and your repayment history on other loans or credit.
We do our best to make the process as fast as possible. During our office hours you generally receive a conditional answer within hours, then if approved it's up to you how quickly you sign and return your loan documents. We can email or express post them to you - with same day funding available.
There are additional fees and charges that may apply should you not adhere to the terms of your loan contract including dishonoured payment fees and other default fees as detailed in your loan contract. In the unfortunate event of a default, we may also notify credit reporting agencies by way of a default lodged on your credit report if you fall behind in your repayments. We always give you advance notice before we notify a default to the credit reporting agencies.
In the event of non-payment of a Mini Loan we prefer to seek to negotiate a resolution to repay the arrears, prior to resorting to court action. The following are some of the contact methods we use to notify you of missed payments and to seek to resolve matters - Phone, Mail, SMS and Email. Loans made are not renewed automatically. You will need to make a separate application for a further loan.