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What are upfront fees?
For most borrowers, when discussing the dynamics of a loan, there’s one term that can spark a degree of curiosity: upfront fees. When it comes to lending, an upfront fee is an initial charge made by your lender when you apply for a loan.
You might also hear or find it referred to as an establishment, application, or even starting fee in some cases. This fee generally encompasses the costs tied to processing your application or personal loan request. For instance, this could include administrative costs and the preparation of required documentation. Essentially, it’s a cover charge for setting up your loan.
As an amiable and knowledgeable companion in your financial journey, we at SocietyOne aim to maintain transparency about these upfront fees. When you choose to secure a loan with us, you’ll be charged a one-time establishment fee.
However, this cost is included in your total loan amount, ensuring no hidden or unexpected charges creep up on you. We also pride ourselves on having no monthly fees or early repayment fees, offering you a fixed-rate loan with the flexibility to pay it off early if you choose.
We know that navigating the terrain of personal loans can feel daunting, and that’s why SocietyOne, Australia’s leading digital finance platform, is here to simplify the process.
Our service offers two types of personal loans: unsecured and secured loans. An unsecured loan lets you borrow without needing to provide an asset as security, allowing you to secure a loan of $5,000 to $50,000 over two, three, or five years.
Meanwhile, our secured loans are connected to an asset such as a car or a piece of property. With secured loans, we can provide you with larger loan amounts, better rates, and longer loan terms. This gives you the opportunity to borrow $5,000 to $70,000 over two, three, five, or seven years.
At SocietyOne, we appreciate that no two financial situations are the same. We understand that every loan serves a unique purpose, be it debt consolidation, home renovations, or car purchases. To support this, we have streamlined our application process to be fast, easy, and 100% online.
You’ll also be pleased to know that getting a rate from us won’t impact your credit score. This makes our service not only safe but also obligation-free. With SocietyOne, you can rest assured knowing you’re in trustworthy hands, as we are committed to ensuring you find the loan that suits your needs.
With us by your side, you’re not just securing personal loans – you’re building a path towards a more enjoyable future.