Our loan at a glance
| Feature | Evercrest medium amount loan |
|---|---|
| Type of loan | Medium amount credit contract |
| Loan amount | $2,450 to $5,000: $2,050 to $4,600 in cash, in $50 steps, plus the $400 establishment fee |
| Establishment fee | $400, added to the loan |
| Total borrowed | Your cash plus the establishment fee, never more than $5,000 |
| Interest | Fixed, charged on what you still owe |
| Length | 3 or 6 months |
| Security | None. The loan is unsecured |
| Checks | Your identity, your money situation, your recent bank data and a careful check that the loan suits you |
What a medium amount credit contract is
A medium amount credit contract is a loan of $2,001 to $5,000 that runs for between 16 days and 2 years. It is a one-off loan, not a credit card or line of credit.
Interest and fees
It can have interest and an establishment fee. The law limits the cost to no more than 48% a year, plus an establishment fee of up to $400.
Why cash stops at $4,600
The $400 establishment fee is added to your cash amount, so $4,600 in cash keeps the total at $5,000, the top of the range.
You see it all first
Your offer and contract show the final amount, the interest rate, the comparison rate, the fees, the repayments and the total before you accept.
If you need a smaller amount, look at a No Interest Loan, a payment plan with your provider, or free advice from the National Debt Helpline on 1800 007 007.
How we check the loan fits
- 1
Check the total
Your cash plus the establishment fee must be more than $2,000 and no more than $5,000.
- 2
Check the length and cost
We check the length and the cost are within the rules for medium amount loans.
- 3
Check it suits you
Fitting the loan's rules is not enough. A person checks the loan suits you and that you can afford it.
- 4
Show you the final terms
Before you accept, you see the exact amount, cost, dates and total you will repay.
Estimates, offers and contracts
| What you see | What it means |
|---|---|
| Homepage slider | An amount to start exploring. Not an application or an offer. |
| Cost calculator | An estimate based on the stated assumptions. Not a quote. |
| Application result | A decline, a request for more information, or an offer for you to consider. |
| Loan offer | Your own amount and terms to read. You do not have to accept. |
| Signed contract | The loan agreement, once you accept and sign it. |