Fees and Interest Explained

When taking out a loan it can be difficult to work out exactly how much you’ll be paying in fees and interest and what this will add up to over time. If you’re dealing with the stress of having to borrow money, the last thing you need is to be left in the dark over your repayments or unsure of your responsibilities.

At Chequers Finance, we offer a simple repayment schedule where you know precisely how much you will owe before you even take out your loan.

Simple Fee Structure

Chequers Finance offer loans from $100 to $1000, with the same general fee and interest structure across the board to make things as simple as possible for our customers.

Our loans usually (1) have just two fees: an establishment fee and a daily administration fee.  So, if you were to borrow say $300 over a six week term, your total repayments would be approximately $415. If you borrowed $600 over a six week term, your total repayments would be approximately $809.  In both cases, the total repayments would be less if the term was reduced (say to four weeks).

A full description of the fees and charges associated with our loans (including default fees in the event you miss a payment) can be found here.

(1) Sometimes we may need to add additional charges to cover the use of third party services when approving a new customer or establishing a new loan.  Customer approval will always be obtained before these services are used and additional charges incurred.

A Clear Contract

Each time you take out a loan with Chequers Finance, you’ll receive a contract that clearly states the fees and interest you will be charged. The loan will be agreed on a fixed repayment schedule of small manageable sums to make repayments easy.

Full details of our contract terms are available here.

Calculate Your Total

Use our helpful slider tool to work out the details of your loan. Once you select how much you need to borrow, you will be given the estimated amount of interest and fees to be paid, and the total this adds up to. In addition, you’ll find out what this total sum is when broken down into 6 weekly payments.

Different Repayment Schedules

Use our loan calculator tool to estimate what your repayments would be over different schedules. Try selecting the amount you’d like to borrow, and you can see what repayments would look like for a weekly, fortnightly or monthly plan.

Additional Fees

The only way the total cost of your loan can change is if you don’t manage to keep to your payment schedule. Late payments will incur additional interest and fees but the limit on this is capped, and the amounts are outlined in your contract.

If your circumstances change and you are no longer able to abide by the original agreement then contact us as soon as possible to make sure we are aware of the situation.  We are more than happy to come to an arrangement with you and reduce your future payments to an affordable amount, to get you through a tight spot.

If you’re interested in taking out a short-term loan then call Chequers Finance now on 09 299 7883 or visit our website for more ways to get in touch.

When taking out a loan it can be difficult to work out exactly how much you’ll be paying in fees and interest and what this will add up to over time. If you’re dealing with the stress of having to borrow money, the last thing you need is to be left in the dark over your repayments or unsure of your responsibilities.

Visit us at any of our branches:

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Chequers Finance Hamilton

Caro House
137 Alexandra Street
Hamilton
Phone: 07 838 2939

Chequers Finance Henderson

334 Great North Road
Henderson
Auckland
Phone: 09 836 6201

Chequers Finance Papakura

155 Great South Road
Papakura
Auckland
Phone: 09 299 7883

Chequers Finance Otahuhu

13 Criterion Street
Otahuhu
Auckland
Ph: (09) 276 4384