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Loan Costs

MiFinance believes in transparency. We can provide short term cash loans between $500 to $5,000 at the following costs. When you have repaid your loan in full and on time, we will normally be able to provide another loan when requested. It all comes down to your situation. As responsible lenders, we will always assess your circumstances for each loan. If you have any questions regarding our small and medium loans, don’t hesitate to ask!

Amounts: $500 - $2,000
Terms: 3 to 6 Months
Costs 20% upfront establishment fee + 4% monthly fee. Comparison Rate is 138.37% P.A.
Example: Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.
Amounts: $2,001 - $4,600
Terms: 6 to 24 Months
Costs: $400 upfront establishment fee. Annual Percentage Rate (APR) is 48%. Comparison Rate is 66.35% P.A.
Example: Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Amounts: $4,700 - $5,000
Terms: 13 to 24 Months
Costs: Variable upfront establishment fee. Annual Percentage Rate (APR) is 48%. Comparison Rate is 48% P.A.
Loan Amount of $5,000 over 24 months repayable weekly (104 weekly repayments). $5,000 (Principle Amount) + $2,616.96 (Interest) = $7616.96 total repayable over 24 months with weekly installments of $73.24. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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Who can apply?

You can apply with MiFinance if:

Illustration of a hand holding a mobile phone with a red screen You're at least 18 years old
Illustration of a hand holding a mobile phone with a red screen You're an Australian resident
Illustration of a hand holding a mobile phone with a red screen You have a regular income for 3 months
Illustration of a hand holding a mobile phone with a red screen You have an active mobile number and email address
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