We are delighted to be offering a new low-interest personal loan product with an interest rate of 8.90% p.a. Previously, APS personal loans were only available to those who required up to $15,000 but now you can apply for up to $40,000 with APS low-interest personal loans.
So what do you need to know?
Low-interest personal loan facts
Interest rate: 8.90%
Maximum borrowing amount: $40,000
Maximum term: 7 Years
Repayment terms: Weekly, Fortnightly or Monthly via deduction from the applicant’s salary or if this is not available a Direct Debit Authority.
Criteria for APS low-interest personal loans
- You must own property or an asset that can be registered on the PPSR
- Proof of ownership MAY be required
- Your application will be assessed under our normal lending criteria and within the NCCP Act.
- You may be approved for this type of loan in addition to any existing APS Benefits Loans.
- If you own property, a Caveat Authority will be obtained but will only be lodged if there are missed payments.
- If a vehicle is offered as security, it must be comprehensively insured for market value with APS Benefits Group Ltd being noted as an interested party.
- Interest rate is fixed for the term of the loan.
- No penalty for early repayment, however, NO TOP UPS ARE PERMITTED
- If the loan falls into arrears a 2.00% p.a. penalty will be invoked.
- You can apply by completing our loan application online or by hard copy.
- We will complete a credit check through our credit reporting agency (Equifax).
- Your loan is assessed under the NCCP Act guidelines ensuring that you have the ability to repay your loan comfortably.
- Once approved, contracts are drawn and forwarded to you together with Direct Debit Authority (DDA) or Allotment Authority.