Frequently Asked Questions

  • Q. How long can I borrow?

    We aim to give you flexibility in repaying your loan. If you applied for a Small Loans, you would have 91 days to 1 year duration. And if you applied for a Medium Loans, you would have 91 days to 2 years duration. If you wish to adjust the duration, we are flexible to meet your need.

  • Q. What are the costs?

    At AHA, it is our aim to provide you with a loan at lower fees and interest rates. For example, our Small Loans offer lower fees than many lenders at 3% per month. Our Medium Loan interest rate is from as low as 24% per year (see our comparison rate). Our simple loan process ensures that you will be able to apply for your loan in as simple and fast a manner as possible.

  • Q. How much can I borrow?

    It depends on your needs and circumstances. We have two types of borrowing: Small Loans and Medium Loans. Under our Small Loans contract, you may borrow from $500 to $2,000. Our Medium Loans contract allows you to borrow from $2,001 to $5,000. However, the amount you can borrow will depend on your personal and financial circumstances and needs. It is our aim to meet your needs responsibly.

  • Q. What is so different about AHA Money?

    AHA means a sense of achievement after a done deal. At AHA, it is our aim to make sure that the loan process is simple and straight forward, so you can do all the things you want to do. We accept most incomes, including centerlink. We also accept most visa class, hence if you are on student visa, working visa, working holiday visa, or other non PR visa, please come and apply the loan with us. Subject to normal lending condition.

  • Q. What is a Small Amount Credit Contract (SACC)?

    SACC stands for Small Amount Credit Contract which is defined in the National Consumer Credit Protection Act (NCCP) Act as being a loan amount of no more than $2,000, set up to be repaid over a term of no less than 16 days and no more than 1 year. The monthly fee can not be over 4%, and the establishment fee can not exceed 20% of the loan amount.

  • Q. What is a Medium Amount Credit Contract (MACC)?

    MACC stands for Medium Amount Credit Contract which is defined in the National Consumer Credit Protection Act (NCCP Act) as a loan, which may vary in length from 16 days to 2 years and can be from $2,001 to $5,000. MACC charges interest rate, and the annual interest rate cannot exceed 48%, and the establishment fee which is a one-off fee can not exceed $400.

  • Q. Can I repay a loan early without penalty?

    Yes. AHA is about helping you to deliver the result. If you wish to repay the borrowed amount early, there will be no penalty to the repayment.

  • Q. Can I get more than one loan a year?

    Yes. If you had repaid your first loan in full and require another loan, then we can lend to you again provided that you still satisfy the requirements. We will consider not charge an establishment fee on the second loan if you are taking out an additional loan within 12 months.

  • Q. Can I get a loan if I have a bad credit rating?

    Yes, if you qualify. We understand that some of our clients may have impaired credit. We may do a credit check on your file, and if the information satisfies the criteria, you may be eligible to get a loan even if you have a bad credit rating.

  • Q. Will I need to print out any paper work?

    In the majority of our cases, the process can be completed electronically without the need to print any documents. Most of the necessary documents will be collected during your application process. In some cases where we require further documents from you, you will be notified via email, and you would need to send these documents electronically in the member section.

  • Q. Will you do a credit check?

    We may do a credit check on your file. If we choose to do so, it will count as a credit inquiry on your file. Note: Some lenders may refuse you credit if your credit report shows too many inquires or credit defaults.

  • Q. What documents will you need from me?

    As a lender, we are required to gather information about you to verify that you are suitable for a loan. Documents that we may need from you include bank statements, identification, etc. However, our partner with Credit Sense and their secure banking technology will save you time retrieving your documents. We know your information is private and confidential and we intend to keep it that way.

  • Q. What happens if I can’t pay on time?

    If you feel you can't repay on time, then please contact us immediately either by email or phone call so we can discuss and work out a solution for you. We will require 1 business day notice to consider the rescheduling or adjustment of the payment.
    *Please note: There are fees associated with rescheduling or adjusting a payment and a weekly arrears management fee charged for each week the loan goes past its original scheduled finish date. If your account remains in arrears after 60 days, we may mark your credit file with a default.

  • Q. What is Responsible Lending?

    Responsible lending is required by law to protect retail consumers. As a credit provider license holder, we are required to adhere to responsible lending. It is about making reasonable inquiries about your requirement and objectives in relations to any contract suggested or recommended by us. We also need to understand your financial situation. We are also required to take reasonable steps to verify your financial situation to make an assessment as to whether any credit contract suggested or recommended by us is unsuitable for you, and to not provide you with credit that is unsuitable.

  • Q. Who is Credit Sense? And how does it work?

    We have partnered with Credit Sense to utilize their secure banking technology and save you the time and hassle of retrieving your bank statements. We know your information is private and confidential and we intend to keep it that way.

    We are given "Read Only" access by Credit Sense; no one can make any changes to your bank account or move money using our system. Further, we will never see your internet banking password. We always have and always will continue to keep your information safe within our organisation.

    Further information regarding Credit Sense can be located here. https://creditsense.com.au/consumers

  • Q. Can you lend to a temporary visa holder?

    Yes, we can if you meet our criteria. We can lend to a temporary visa holder who is a tax resident in Australia and generates income in Australia. We will need proof of a valid visa subclass within an acceptable expiry period for the loan application.