At Purple Finance our fees are some of the lowest available with the term of Purple Finance Personal Loans depending on the amount borrowed up to a maximum of nine months or 36 weeks.
Our Personal Loans are subject to an establishment fee of $275.00. The table below provides example repayments for various amounts over various loan terms.
WARNING: This table applies only to the example or examples given. Different amounts and terms will result in different repayment amounts. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the table but may influence the cost of the loan.
Personal Loan Amount |
Term (months) |
Weekly Payment |
$500.00 |
3 |
$51.43 |
$1,000.00 |
3 |
$102.86 |
$1,500.00 |
6 |
$92.54 |
$2,000.00 |
6 |
$123.39 |
$2,500.00 |
9 |
$121.49 |
$3,000.00 |
9 |
$145.78 |
Extensions to loans are available. See Loan Extensions.
Fees and charges apply for a loan default, extensions to the term of loans and direct debit dishonours as follows:
- Extension to the term of a Personal Loan $100.00 (one extension allowed only).
- Direct debit dishonour - $50.00 per default.
- Same day cash deposit into your bank account - $40.00 per transaction. For this $40.00 transaction fee, we will arrange to physically go to your bank and transfer the loan proceeds from Purple Finance to your bank account on the same day. We will notify you by phone or email when we have made the deposit. This service is limited to Fridays and prior to Public Holidays and to accounts with major financial institutions. You will also need to have all relevant documentation signed and returned to us prior to 2 pm EST to enable these types of transfers.
- Loan default fees and charges are on a case by case basis and would cover the costs incurred by Purple Finance in recovery of the loan as well as direct debit dishonour fees and interest owing based on the full term of the loan.
Eventually, there will also be an initial one off set-up fee of $24.95 (which will not apply to our members) for the issue of a re-useable stored value debit card for the convenient transfer and use of personal loan or cheque cashing funds (cheque cashing will be launched as a Purple Finance service very soon).
These fees and charges are subject to review at any time and may be changed at any time by Purple Finance in our absolute discretion. However, fees and charges will not change during the term of a loan.
