To answer this question, let’s start with what a small loan is defined as, and what the rules are around the amount of fees allowed to be charged.

What is a small loan?

In Australia, a small loan (also known as a small amount loan) is any loan up to $2000 which is repaid between 16 days and one year.


What are the maximum fees allowed to be charged on small loans?

In accordance with the National Credit Act, the maximum fees allowed to be charged on small loans are:

  • One establishment fee of no more than 20% of the loan amount.
  • A monthly account keeping fee of no more than 4% of the loan amount.

As an example, for a $2,000 loan, the maximum establishment fee would be $400 and the maximum monthly account keeping fee would be $80.


Do all small loan lenders charge the maximum fees?

If you are shopping around for a small loan, you will soon discover that most small loan lenders charge EVERY customer the MAXIMUM FEES allowed – with NO EXCEPTIONS.


But at Fair Go Finance, we’re different!

At Fair Go Finance, we stand apart from the other small loan lenders. We consider each customer on their own merits because we want to provide Aussies a Fair Go and reward them when they achieve positive financial milestones.

That’s why we use tiered pricing. It allows us to reward customers with good credit scores and provide loyalty benefits to returning customers who have shown good repayment history with us.

small loans


To find out what fees a lender charges, check their website and search for information about their costs. As at the 9th October 2018 we checked a number of small loan lenders websites which confirmed they all charge the maximum fees on all small loans, regardless of their customers loyalty or credit score. These lenders included Nimble, Ferratum, Sunshine Loans, Jacaranda Finance and Cash Converters.


What are Fair Go Finance’s fees?

Our unique tiered pricing means we can offer immediate rewards to good customers whilst providing incentives to poor credit customers that encourages them to rebuild their credit history with us and ultimately become eligible for bigger rewards.

Our tiers are:

Fair Go Finance Fee Tiers


Here are two examples which show exactly how our small loans compare with our competitors on a $2,000 loan over 12 months.

Fair Go Finance Fees Tier 1

Fair Go Finance Fees Tier 2

As you can see, by being a Fair Go Finance customer you are guaranteed to benefit not only from our tiered rates (which are either cheaper than or comparative to our competitors) but once you return for another loan, you will also be eligible for our Mates Rates loyalty rewards program – giving you even further discounts!

Why would you choose anyone else for a small loan? Go forward with us!

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Are you eligible to apply?


It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.

Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink.

The Australian Government’s MoneySmart Website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.