PayDayMate Payday Loans
PaydayMate offers short term loans up to $2,000. Payday loans are expensive and come with high fees and charges.
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Payday Mate offers short term loans for amounts between $100 to $2,000. Their terms are short, ranging from 16 to 47 days. Applications are online and you can check the status of your application with ease. Payday Mate charges a flat fee instead of sliding scale interest rates. Payday loans, however, are expensive and come with high fees and charges. Lenders cannot charge more than the ASIC cap for short-term loans. For loans under $2,000, the maximum they can charge is an establishment fee of 20% and a monthly fee of 4%. Payday loans are also not a long-term financial solution and you should only apply for one in case of an emergency.
Comparison of Payday Loans
Whilst we don't compare Payday Mate Payday Loans, here is a comparison of other Payday loan providers that you may find useful.
Types of personal loans from Payday Mate
Short term loans are available from Payday Mate for those who need cash in a hurry to cover an urgent expense. If this is something you require, Payday Mate may be able to provide you with financial support if you apply and are approved. These short term loan terms have a shorter repayment period as well, which varies from 16 to 47 days.
There is a flat fee rate instead of sliding scale interest rates. There are no hidden fees or costs when it comes to borrowing and you can easily review the rates lending table to find out about repayment. The lending table provides specifics on dates and fees, telling you how much you would owe each month for how long.
Your loan limit will be determined after your bank statements are provided and your financial situation has been evaluated. If you are approved, you will be allocated a loan amount, of which you can borrow the entirety or less, depending on what you need.
Features and benefits of a Payday Mate personal loan
- Online application. It’s easy to check the status of your loan application, so you know where you stand.
- Flat fees. In terms of interest, Payday Mate charges a flat fee of so there are no hidden costs when repayment time arrives. The repayment and fees will be taken out of your bank account through direct debit, which is setup when you apply for your loan.
- Responsible borrowing. Payday Mate supports responsible lending and borrowing practices along with regulations in line with the Australian Securities and Investment Commission (ASIC). There is no push to encourage borrowers to take money they can’t afford to pay back.
- Repayments. Payday Mate provides information about repayment clearly before the application process and gives you 16 to 47 days to repay your short term loan, depending on your financial situation. If repayment problems arise, you are encouraged to discuss your situation with the company.
How to apply for a personal loan from Payday Mate
You can apply online for a loan from Payday Mate. When you deliver your personal information, it will then go through the Decision Logic software that assesses your eligibility.
Eligibility requirements
To be considered for this loan you must;
- Be a current resident of Australia.
- Be 18 years old or older.
- Have a direct deposit salary.
- Have a net income of over $667 per month or $334 per week.
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