MTF’s interest rates are fixed for the term of the loan and range from % to % p.a. The interest rate which will apply to your loan will depend on a number of factors including:
- financial and other information you provide
- information provided from credit bureaus and other third parties
- your credit history with MTF if you have been a recent customer
In the event of a default in payment, and while the default continues, you must pay the default interest charges. In the event of a breach of the Contract, or on the enforcement of the Contract, the default fees specified below are payable.
Default interest is % per annum calculated daily and charged to you on the dates (a) we send you a repossession warning notice (b) a repossession notice and (c) when a default is lodged with a credit bureau, if you have not paid the amount due in the meantime.
Default interest is only payable on the amount actually in default.