A LITTLE LOAN COULD BE A HUGE StepUP. WHAT could THE LOANS BE UTILIZED FOR?

Safe, low-cost, low-value interest 5.99% p.a. Fixed rate of interest (contrast rate 5.99%* p.a. )

*The contrast price is 5.99% pa. Contrast prices depend on that loan of $2,500 over a term of 24 months. WARNING: This contrast rate does work limited to the examples offered and could perhaps maybe not consist of all charges and costs. Different terms, charges or any other loan quantities might lead to a comparison rate that is different.

A residential district focused initiative of Good Shepherd Microfinance and NAB goodshepherdmicrofinance.org.au

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WHAT EXACTLY IS StepUP?

StepUP is just a low-value interest loan for individuals on low incomes who possess trouble accessing credit from a bank. You are able to borrow from $800 – $3,000 with as much as 36 months to repay it. There aren’t any costs.

Microfinance employees will help you gather the papers you want, complete the help and application make certain you are able to settle your loan. Loans may be held in specific or names that are joint.

These loans are to aid individuals to enhance their standard of living consequently they are supplied for a not-for-profit basis.

DISCOVER YOUR NEIGHBORHOOD StepUP PROVIDER

StepUP is made available from district organisations in 38 places across Australia.

EXACTLY WHAT CAN THE LOANS BE APPLIED FOR?

Loans are for things such as for instance:

  • Secondhand automobiles or repairs
  • White products
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  • Computer Systems
  • Vocational education
  • Health expenses

Loans may not be employed for cash, debt consolidating, vacations or bills

We have every thing now. I’ve freedom. We have my entire life right back. That is a change that is big. – Vaska, StepUP customer, Decent Money, Collingwood, Victoria

StepUP LOAN DETAILS

  • Borrow between $800 – $3,000
  • No costs and interest that is low 5.99per cent p.a. (Comparison rate* 5.99% p.a. )
  • Repay over a group term as much as 36 months
  • A credit check is needed

Have always been I QUALIFIED TO RECEIVE A StepUP LOAN

To qualify you need to:

Have ongoing health Care Card/Pension Card, or get Family Tax Benefit the

Have a home in your premises that are current significantly more than a few months

This as well as other eligibility criteria may be talked about because of the Microfinance employee whenever you enquire.

REPAYMENT CALCULATOR

5.99% rate of interest p.a. (Comparison rate* 5.99% p.a. )

Loan Amount Repayments
Term three years Weekly Fortnightly Monthly
$1000 $6.97 $13.88 $30.92
$2000 $13.94 $27.74 $61.83
$3000 $20.93 $41.73 $92.25
Term a couple of years
$1000 $10.14 $20.15 $44.32
$2000 $20.27 $40.29 $89.63
$3000 $30.45 $60.67 $133.95
Term 1 12 Months
$1000 $19.55 $39.11 $87.06
$2000 $39.34 $78.68 $173.12
$3000 $59.12 $118.25 $258.19

Please be aware: The payment amounts should really be utilized as an approximate guide just. The particular information on your loan shall be supplied for your requirements in your loan agreement. Lending by NAB is at the mercy of NAB’s financing requirements.

StepUP assisted me out of a truly bad situation that is financial to start a brand new life with my children – Reza, StepUP customer, decent Money, Collingwood, Victoria

HOW EXACTLY DOES IT WORK?

  • 1. ENQUIRE

Forward your enquiry to StepUP.

2. Paperwork

Finish the documents given by the StepUP Microfinance employee.

3. Interview

Bring all your documents to a gathering along with your neighborhood StepUP Microfinance employee.

    4. Assessment

    The application shall be provided for NAB for evaluation, which include a credit check.

    5. Loan Outcome

    If authorized, it is important to go to your NAB that is local branch signal the loan contract and either be given a cheque made down to the provider or even the provider would be paid via EFT. If declined, you shall be given a call from your own StepUP Microfinance employee and a page from NAB.

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    6. Repay

    Make repayments to NAB weekly, fortnightly or month-to-month as agreed within the application for the loan.

Enquire about a loan now

WHO’S GOOD SHEPHERD MICROFINANCE?

Good Shepherd Microfinance is Australia’s biggest microfinance organization.

We provide a suite of people-centred, affordable monetary programs for individuals on low incomes at various monetary phases of these everyday lives.

Our aim, along with those of our community lovers, is always to allow consumers to realise their particular financial well-being, because they define it by themselves, through appropriate monetary solutions. Because of this, individuals feel respected, accepted, included as well as in control of their very own funds and everyday lives.

Our flagship loan programs range from the No Interest Loan Scheme (NILS) as well as the StepUP low interest rate loan.

EXACTLY WHY IS NAB ASSOCIATED WITH THIS SYSTEM?

StepUP is really an initiative that is not-for-profit Good Shepherd Microfinance and nationwide Australia Bank (NAB) whom provides cash for the loans.

NAB is a sizable services that are financial with more than 12.4 million clients. NAB is making use of its abilities, resources and expertise to aid deal with the matter of monetary exclusion in Australia also to help visitors to have a healthier relationship with cash.