*The results provided by this calculator are an estimate only and do not constitute a loan offer by Rapid Loans Pty Ltd. Australian Credit Licence 388847. Your actual repayment amount will vary based on a range of factors, including the loan amount, and your personal circumstances, including your credit rating and banking activity. Rapid Loans is committed to responsible lending. All loans are subject to an approval process which is subject to our lending criteria and an assessment of borrower suitability.
1Subject to assessment of affordability and suitability.
Whilst the Annual Percentage Rate charged may vary according to your personal profile and funding needs, the maximum Annual Percentage Rate (APR) that can be charged for personal loans under the National Consumer Credit Protection Act 2009 is capped at 48%pa or less.
A personal loan written as a Medium Amount Credit Contract [MACC] where the amount provided to the Borrower is $3,600 for a 24 month term has a maximum total cost of credit, including all applicable fees, of $2,230.84 which equates to a maximum Annual Cost Rate (ACR) of 48.00% pa and a maximum Comparison Rate of 60.82% pa. There is a minimum loan repayment period of 6 months and maximum loan repayment period of 24 months for this product.
A personal loan written as a Larger Amount Credit Contract [LACC] or a Secured Car Loan where the amount provided to the Borrower is $10,000 for a 36 month term has a maximum total cost of credit, including all applicable fees, of $7,648.37 which equates to a maximum Annual Cost Rate (ACR) of 41.91% pa and a maximum Comparison Rate of 41.91% pa. LACCs and Car Loans have a minimum loan repayment period of 18 months and maximum loan repayment period of 48 months.
Please note the following Government warning:
Warning: This comparison rate is 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.
