Establishment fee
A one-off fee a lender charges to set up your loan. It is part of the real cost, so check it alongside the interest rate.
An establishment fee is a one-off charge to cover the cost of setting up your loan, such as processing the application and paperwork. It is sometimes called a loan setup fee or documentation fee.
It is usually added to the loan amount, so you pay interest on it too, or it can be paid up front. Either way it adds to your total cost of credit.
Fees vary between lenders, which is why the headline interest rate alone can be misleading. A loan with a low rate but a big establishment fee might cost more than one with a slightly higher rate and no fee. A comparison rate helps you see the real picture.
Under the CCCFA, fees must be reasonable and disclosed before you sign. We help you compare the full cost, not just the rate. Get your fair rate.
See your repayments, then get a fair rate.
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