Understanding fees and interest on your Pay Advance

We keep fees simple and show everything upfront before you take out your loan. Here’s how it works.

Loan amount

The amount paid into your bank account.

One-off fee

All Pay Advances include a fixed 5% setup fee. It’s added to your loan amount and shown clearly before you accept.

Interest

Some Pay Advance offers include interest. If interest applies, you’ll see the rate upfront before you take out the loan. Interest is a yearly percentage rate, charged daily on your outstanding balance.

How interest is calculated

Interest is a yearly rate, charged daily on your outstanding balance.

For example, borrowing $100 with a one-off 5% setup fee, plus 24% p.a. interest costs about $0.07 per day in interest, shown clearly in your offer.

Paying less interest

Because interest is charged daily, repaying earlier reduces the total interest you pay. There’s no fee for repaying early.

What stays the same once you accept

The interest rate and setup fee won’t change once you’ve accepted your offer. We also don’t charge late fees.