At SimplyBorrowed we offer loans of up to $5,000 payable in monthly instalments for one or two years. We believe in transparency by making our products simple and easy to understand.
What is an instalment loan?
It is a loan that is paid through a specific number of fixed amount instalments throughout the term of the loan. The amount and date of the payments are known from the beginning, which allows our customers to have peace of mind of being able to plan the disbursements.
For example: Want to borrow $1,000 for one year? It will be 12 monthly payments of $119.99, which makes your cost of borrowing approximately $440 by the end of one year.
Want to save in interest costs?
You always have the flexibility to settle your loan in less time and save in interest costs and admin fees by paying the remaining balance. No fees or penalties apply.
Use our loan calculator below to calculate your monthly instalments:
Note: maximum amount for one year loans is $3,000. An administrative fee is included in each instalment.