Got a question?

you might find the answer below. if not, just contact us - we are here to help

What is a Tailored Loan?

A Tailored Loan is our exclusive loan product. It allows you the freedom to select the right payment amount for your financial situation (subject to staying above the minimum repayment amount and within the parameters of our responsible lending obligation). This lets you get on with life quicker and more comfortably.

If I start paying the loan back, can I reduce my payments if I need to?

Yes. With our Tailored Loan, you can reduce your repayment to the minimum repayment without penalty. If you have a Fixed Loan, you may still be able to reduce your repayments subject to consideration (please read our Hardship policy). Obviously the longer the loan runs, the more interest you pay. We encourage all our customers to call us if their situation changes during the life of a loan so the repayments can be adjusted if appropriate.

Why would I pay the loan back early? (Today Loans encourage this)
  • Pay less interest – you only have to repay the interest charged to your account up until the day you pay out the loan.
  • We understand that everyone has their road bumps. Make a Today loan a stepping stone, get on with life quicker.
  • Ability to access credit again sooner – by having repaid a loan you will be in a position to apply for a new loan (if required) with Today Loans.
What is E-signing?

To electronically sign a contract online.

Can I get a loan if I have bad credit?

Depending on your level of bad credit, you may be able to successfully apply for a loan with us. As part of our lending criteria we look at the number enquires (last 7 years), number & status of recent defaults and other adverse items on your credit file. Call us for more information.

When can I use my car as security?

All of our loans are secured by way of an encumbrance on a licensed motor vehicle, generally no older than 10 years. Exceptions can apply, please call us for more information.

How do I make my loan repayments to Today Loans?

All loan repayments are made via Direct Debit from your nominated bank account. These payments can be made weekly, fortnightly or monthly.

How will I know when all my repayments have been made and my loan is paid out in full?

Once your loan has been paid out in full, you will receive a letter from today Loans confirming the closing of the loan, and your eligibility for future finance.

Why does Today Loans lend to people with bad credit?

At Today Loans we understand there are genuine reasons why people have bad credit. Although we can’t help every customer, we can assist certain levels of bad credit. Providing a bad credit loan can help those customers develop a positive credit rating so they can access money quickly and easily from us when they need it in the future.

How does Today Loans assess a loan?

Today Loans’ loan approval process matches your needs and situation – income, expenses and credit history – to a specific loan amount. This ensures an approved sum that’s both beneficial to your circumstances and also can be comfortably repaid.
Under our Responsible Lending charter, we need to understand your individual situation in order to match the right cash loan to your needs. This helps us make personal loans available for people on a range of income levels while providing a repayment schedule amenable to your lifestyle.

What is the APR or Annual Percentage Rate?

The APR is set at 48%. The term APR (Annual Percentage Rate) is dependent upon many factors, the amount and time your loan is over are factors to take into consideration.
For example:- a loan of $100-00 with an interest charge of $1-00 for 1 day would equate to an APR of 365%

What happens if I can't make a repayment?

We understand that things can sometimes happen which can make a payment difficult to meet. All you have to do is contact Today Loans as soon as you know that a payment cannot be made so alternative arrangements can be discussed. However, a $40.00 dishonour fee will apply if you do not contact us 24 hours before the payment is due.

How much does it all cost?

Our Tailored loans cannot exceed a maximum percentage rate of 4% per month, as per government regulations. This includes all interest payable and fees and charges. All of our loans are in simple English. A fee breakdown is available before you complete your loan so it’s easier to make an informed financial decision.

So an annualised percentage of 48% per year is 4% per month

Do we lend to Centrelink Clients?

Yes we do but only to a Maximum of $1,000.

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