Terms and Conditions

7.1 Interest

Interest is calculated and charged daily on your Outstanding Balance at the end of the day. The applicable interest rate shall be identified on your agreed Repayment Plan and within your Fairlo Account.

The interest charges will not extend the duration of your Repayment Plan, or increase the Monthly Repayment Amount as long as you keep up repayments.

7.2 Setup Fee

For agreements signed from 23rd April 2026, a Setup Fee is charged as outlined in your Credit Agreement. This is paid from your credit limit when you make your first withdrawal. This fee then forms part of your Outstanding Balance and is repaid according to your repayment plan. For the avoidance of doubt, the amount that you can withdraw on your first withdrawal will be your Credit Limit minus the Setup Fee.

This amount can be changed over time by providing 30 days notice (or as required by law).

Agreements signed before 23rd April 2026 will not be charged a Setup Fee.

7.3 Withdrawal Fee

For agreements signed from 23rd April 2026, a Withdrawal Fee is charged as outlined in your Credit Agreement. This is paid from your credit limit when you make a withdrawal (your first withdrawal on an agreement is always free). This fee then forms part of your Outstanding Balance and is repaid according to your repayment plan. For the avoidance of doubt, the amount that you can withdraw will be your Available Credit Limit minus the Withdrawal Fee.

This amount can be changed over time by providing 30 days notice (or as required by law).

Agreements signed before 23rd April 2026 will not be charged a Withdrawal Fee.