Interest rates

MyFinance provides loans at an annual interest rate from 13.95% to 24.95% per annum. The rate that applies to your loan will be based on a range of factors including your circumstances, credit history with us or others, the security you can provide and the loan amount. Once set, our interest rate is fixed for the term of your loan.

Default interest rate

If you get behind in your loan repayments, then we may charge a default interest rate on any overdue portion of the loan, while they are unpaid. The Default rate that we charge is 10% per annum above the Interest Rate that normally applies to your loan.

Loan terms

Loan terms are normally over a minimum of 90 days (3 months) to a maximum term of 3 years, although terms up to five years may be available for loans for newer vehicles or with property security.


A $10,000 loan repayable monthly over three years at an interest rate of 18.00%pa. An establishment fee of $350 and administration fee of $2 per payment ($72) are included in the repayment. 36 monthly instalments of $376.18 each would be required to repay the loan. Total interest would be $3120.38 making the total payable $13,542.38. The Annual Percentage Rate (APR) inclusive of fees is a maximum 20.89%pa. Establishment fees vary based on the loan amount.