Interest Charges – Consumer Loans
Our interest rates for insurance premium funding loans to households or consumers are fixed for the term of the loan agreement and are:
16.75% p.a. for a loan agreement with a 12-month term; and
20.50% p.a. for a loan agreement with a 10-month term.
If you choose a different term, the annual interest rate may be higher (for a shorter term) or lower (for a longer term). Please contact your insurance broker to discuss the rate that would apply for a different term.
Interest Charges – Commercial Loans
Our interest rates for insurance premium funding loans to businesses or for commercial purposes may vary based on the amount financed and the term of the loan agreement. Please contact your insurance broker to discuss the interest rate that would apply to an insurance premium funding loan for your business.
Fees
Establishment Fee: We charge an establishment fee of $50 for each loan agreement.
For insurance premium funding loans to households or consumers, we do not charge any further fees or charges or default interest or default fees or charges.