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 $1,000 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).
You can apply for any amount from $1,000 to $5,000. All enquiries are welcome and we try to help everyone.
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, fax or express post them to you - with same day funding available.
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 $500/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 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.
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|
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 is 22 weeks, so in this example, the total expected repayment amount over 22 weeks will be $1,440 — $1,000 principal loan that you borrowed, plus a $200 establishment fee and $240 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.