CREDIT FEES AND CHARGES

With PPL there are no hidden charges. Everything will be displayed clearly and in accordance with the fees and amounts displayed below. There is no obligation to take the loan if it is not right for you.

INTEREST COSTS

Daily Interest – 1% per day (365% Annual Interest Rate)

PPL charges a 1% per day interest, calculated from the amount owing on your account and is charged throughout the life of the loan.  Interests is repaid in conjunction with your loan repayments. 

When you apply, we will make an assessment to ensure the loan meets your needs and is affordable.  Once this is done and you have been approved we will provide you with a schedule that clearly outlines the interest charges for your particular loan and the repayment schedule.

MANDATORY FEES

Account Set Up Fee – $24.00

This fee is charged at the establishment of your first loan for the setting up of you account and is payable as part of your loan repayments.  Once you have repaid your first loan, this fee is not charged on subsequent loans unless your account is closed at your request or as a result of default and we need to reopen it.

Establishment Fee – $64.00

This fee is charge at the establishment of all loans and is payable as part of your loan repayments

OPTIONAL SERVICE FEES

Same Day Deposit Fee – $12.00
This fee is charged at the establishment of your loan if you choose to use the optional PPL Guaranteed Prioritised Same Day Deposit Service. The fee is payable as part of your loan repayments. If you choose not to use this service, you do not need to pay this fee. Note: If the funds do not get to your account on the same day prioritised clearance, we will remove all services fees and interest from the loan. This means you will only have to pay back the principal of what you borrowed (deviations to the original contract such as defaults and optional changes to payment will still incur interest charges and associated fees).

Priority Transfer Fee – $12.00
This fee is charged at the establishment of your loan if you choose to use the optional PPL Guaranteed Prioritised Same Day Deposit Service. The fee is payable as part of your loan repayments. If you choose not to use this service, you do not need to pay this fee. Note: If the funds do not get to your account on the same day prioritised clearance, we will remove all services fees and interest from the loan. This means you will only have to pay back the principal of what you borrowed (deviations to the original contract such as defaults and optional changes to payment will still incur interest charges and associated fees).

Extension of First Payment Fee – $20.00
This fee is charged at the establishment of you loan if you choose to use the PPL Extension of First Payment Service.  The fee is payable as part of your loan repayments.  If you choose not to use this service, you do not need to pay this fee.

FEES CHARGED AS A RESULT OF THE LOAN AGREEMENT CHANGING

Default Fee – $13.00

This fee is charged in the event that you default on your Loan Agreement.  It is payable as part of your loan repayments.

Change of Payment Fee – $10.00

This fee is charged in the event that you request a change to your repayment schedule under you Loan Agreement prior to your Loan Agreement falling into default.

Investigator/Hand Over Fee – 17.25% of Total Payout

This fee is charged prior to the event that your loan is sent to our affiliate External Collections Agency as a result of failure to repay your loan.