How much does a loan cost?

A loan of  $1000.00 -  over six months, with repayments of $190.00 per month - would set you back around $140-00 in interest. The APR is set at 48%.

You can take the full 6 months or 1 day to repay, there is NO penalty for early repayment, the quicker you pay the less interest you pay. 

Other fees and charges - SIMPLE we don't have any. At Adam Smith we have no set up fees..... no late payment fees....no hidden fees.

What is an APR?

The term APR (Annual Percentage Rate) is dependent upon many factors, the amount and time your loan is over are factors to take into consideration.

For example:- a loan of $100-00 with an interest charge of $1-00 for 1 day would equate to an APR of 365%.

Please call and speak to our staff for any clarification or information regarding our rates terms and conditions.

What's the minimum and maximum I can borrow?

We offer loans between $500 -$3000.

Do I have to pay a penalty fee if I pay my loan off earlier?

No there is no penalty fee. 

Does Adam Smith do credit history checks?

Yes, we may carry out a credit check as part of our assessment of your application.

But don't worry if you have a default - we may still be able to help you. Adam Smith approves loans for some applicants who may have had defaults in the past. Our policies are very different to those of other lenders and banks.

Unfortunately there are cases when applications are declined, If you are currently bankrupt, in a part nine debt agreement, your application will be declined.

All loans are To Approved Persons (TAP) and subject to our lending policy and suitability assessment.