LOAN APPLICATION AND ACCOUNT MAINTENANCE

Unlike other finance companies or banks we don’t have a flat rate for fees. Geneva fees are minimal charges to cover administration costs associated with your loan. As everybody’s loan is different, everybody’s fees are different too. We only charge you for services of ours you are using. All fees are worked out and included in the loan offer we provide you after your loan enquiry. This means there are no nasty surprises or hidden costs, we’re upfront with you from the beginning about the structure of our loans.

Loan Establishment Fee
A fee relating to the receiving & processing of an application combined with the acceptance & establishment of the loan as disclosed in the individual loan agreement. Rather than a flat fee like most finance companies, Geneva varies this rate depending on the loan amount and applicant profile. Charged to the loan when drawn. $50 – $695

Loan Administration Fee
A fee for maintaining the servicing of the loan. Calculated as part of the instalment.

• $2 per weekly instalment
• $4 per fortnightly instalment
• $8 per monthly instalment

Personal property Securities Register (PPSR) Fee
Fees for the costs associated with registering our security interest with the PPSR on any security used against a loan as collateral. Charged to the loan when drawn.

• Registration Fee $8.05
• Applicant Check (per applicant) $1.15

Other Third Party Establishment Fees
We will charge other third party fees associated with the establishment of the loan (e.g. for Credit Checks, Vehicle Checks, Identity Verification Checks). Charged to the loan when drawn.

Referral Fee
A Broker or Vehicle Dealer has the option of charging a referral fee that, if taken, is charged to the loan when drawn. Maximum $1,000. Not applicable when you loan direct from Geneva.

Refund Transaction Fee
We may charge you this fee if you overpay us and we have to refund you. $20

Prepayment Fees
An administration fee that is charged to the loan where the loan is settled early.

• Full Prepayment $15
• Loan Top-Up / Refinance $15

Modification Fees
Reassignment Fee (charged to a loan when assigning one borrower(s) and/or guarantor(s) name to another borrower(s) and/or guarantor(s) name) – $250

Security Variation Fee (charged to a loan when the goods/security against a loan are to be changed) – $30

Collection Fees
Text Message Fee Fee is charged to the loan when attempts are made to contact the borrower(s) and/or guarantor(s) via text message after a breach of the loan agreement has occurred (e.g. overdue loan instalments). Applies on a per-text basis. – $0.20

Phone Call Fee Fee is charged to the loan when attempts are made to contact the borrower(s) / guarantor(s) via telephone after a breach of the loan agreement has occurred (e.g. overdue loan instalments). Applies on a per-call basis. – $5

Letter Fees
Charged to the loan upon issuance

Reminder Letter Fee (sent to the borrower(s) / guarantor(s) after a breach of the loan agreement has occurred (e.g. overdue loan instalments). – $7.50

Warning to Avoid Default Loading Letter Fee (issued against an unsecured loan) – $25

Pre-Possession Notice Fee (issued under the Credit (Repossession) Act 1997) – $25

Repossession Warning Notice Fee (issued under the Credit Contracts and Consumer Finance Act 2003) – $25

Repossession Order (issued when we authorise our repossession agents to repossess the loan security when the action stated in a Pre-Possession Notice or Repossession Warning Notice has not been completed within the stated timeframe) – $35

Post-Possession Notice (issued following the repossession of security under the Credit (Repossession) Act 1997) – $40

Post-Repossession Notice (issued following the repossession of security under the Credit Contracts and Consumer Finance Act 2003) – $40

Statement of Account After Sale Notice (issued following the sale of repossessed security) – $40

Recovery Costs
Costs incurred by a third party (e.g. repossession agent, legal provider, repairer) will be charged to the loan for the invoiced amount. Copies of invoices are available upon request.

Default Interest
In the event of an instalment being missed we will charge default interest at the default interest rate stated on the individual loan agreement from the time the payment was missed until the arrears are paid. – The annual interest rate at the time of the default plus 10% per annum.

Unlike most other finance companies, we allow our customers to make bulk payments against their loan without penalising you. If our customers want to pay off a big lump of their loan in one go, or even the whole thing at once we gladly let them! No hidden fees or extra costs, just us being flexible to help you.

• If you are securing your loan with a motor vehicle you need the vehicle’s registration number
• Email Address
• Be aware of what your weekly income is
• Be aware of what your weekly housing costs are

Other than that it’s all personal information you will be able to remember off the top of your head.

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