Interest Rates and Terms
INTEREST RATES
UFinance Ltd currently provides loans at an annual interest rate of 14.9% 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, the 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 loan payments while they remain unpaid. The Default rate that we charge is 10% per annum above the Annual Interest Rate that normally applies to your loan.
LOAN TERMS
Loan terms are normally over a six to ten-year maximum term.
Fees
ESTABLISHMENT FEE
Loan Establishment Fee - $460 {Includes all documentation, credit check, correspondence, PPSR (personal property security register), AML (anti-money laundering) checks, responsible lending checks, etc. Finalising specifications of cabin and start date to determine loan documentation.}
Cancellation Fee - $460 {This fee covers the cost of administration documentation when the client wants to cancel prior to receiving the unit.}
CREDIT FEES AND CHARGES
Variation Fee - $120.00 A material change to the loan contract, includes Hardship Application and minor repair invoice outcomes.
Cash Top Up Fee - $300.00 per additional advance made to you as a top-up loan.
PREPAYMENT FEE
Prepayment Administration Fee - $70.00 {Where you repay a loan in full before the final payment is due.}
DEFAULT FEES:
Missed Payment Fee: $27.00 each time a payment is missed, with a 5-day grace period per payment.
Field Visit Fee (made by us)– Up to $400.00 {Where we have an employee or third-party agent visit you regarding a default payment. Includes travel cost, prep paperwork, interview, an inspection of cabin.}
REPOSSESSION:
Repossession Warning Notice - $27.00 {Statutory Notice formally advising of our intention to repossess.}
Post Repossession Notice - $145.00 {Statutory Notice confirming the repossession. Includes generating letter, reviewing the valuation of the cabin, an estimate of making good charges. Remedying breaches of the agreement.}
Repossession Fee (UFinance) - $703.00 if we have to uplift the unit. {Includes sending 1 driver, generation of paperwork, criteria eligibility}. This fee is always charged in addition to the third-party repossession fee.
Note: There may be charges we incur if we engage third parties as a result of a breach under this agreement or if we enforce this agreement. These charges could include debt collection, field visits, and repossession fees, including agent and transportation and make-good charges. These are in addition to the default fees listed above. These third-party costs may include the following:
Field Visit Fee (made by a third party): as invoiced by a third party
Repossession agent as invoiced by a third party if we engage a repossession agent to uplift the Unit.
Storage Repossessed Fee - $50.00 per week {Where repossessed goods are stored at UFinance storage locations.}
Sales commission - 2.5% {Sales Representative Commission of sale price}
Make Good Charges if the unit is to be sold. As invoiced by Third-party {Meth testing and decontamination if required. Repairs/painting/carpet/vinyl, as deemed necessary, to bring the unit up to sale-able state}
NOTE:
Where a notice is sent to more than one person (eg if there is more than one borrower and/or guarantor), only one fee is charged, not one fee per person.
Update: 1st June 2026