Interest and fees

Our small print is our big print. Save My Bacon is an upfront, no surprises loan company. To make Save My Bacon loans easy to use, fair and clear, we always show the total amount repayable upfront. Our fee structure is transparent – see our online Mini loan and Flex loan calculators.

Save My Bacon's online calculators

With our loan calculators you can quickly work out whether you can afford a Save My Bacon loan and we can demonstrate our commitment to responsible lending practices.

The total due on each agreed repayment date will be deducted from your bank account automatically by direct debit. Use our Mini loan or  Flex loan calculator to establish the upfront cost of your loan, prior to commencing with the loan application process.

Save My Bacon’s Mini loan (short-term loan) – Annual Interest Rate (AIR)

Save My Bacon's AIR for the Mini loan is 49.95%, which equates to a daily interest rate of 0.1368%. As AIR is a measure designed to compare the cost of a loan on an annual basis, due to the short-term nature of a Save My Bacon Mini loan, it doesn't reflect our loan's costs. The Mini loan term ranges from 1 to 8 weeks.

The applicable rates for Save My Bacon's Mini Loan are as follows:

Loan amount Daily interest rate Monthly interest rate Weekly term range Annual Interest Rate (AIR)
$300 - $750 0.1368% 4.1625% 1 - 8 weeks 49.95%

Save My Bacon’s Mini loan (short-term loan) - fees

Establishment fee - $95

Account maintenance fee - $10 per month, charged on the last calendar day of each month or the day the Loan is repaid in full

Default fee - $30

Wage Deduction Authority fee - $15

Debt collection fee - $50

Save My Bacon's Flex Loan (medium-term loan) – Annual Interest Rate

Save My Bacon's AIR for the Flex loan is 49.95%, which equates to a daily interest rate of 0.1368%. The Flex loan term ranges from 8 to 52 weeks.

The applicable rates for Save My Bacon's Flex Loan are as follows:

Loan amount Daily interest rate Monthly interest rate Weekly term range Annual Interest Rate (AIR)
$1,000 - $5,000 0.1368% 4.1625% 8 - 52 weeks 49.95%

The total amount of Interest and fees (on your loan and any related loans) are capped at 100% of the amount first advanced.

Save My Bacon's Flex loan (medium-term loan) - fees

Establishment fee - $95

Account maintenance fee - $10 per month, charged on the last calendar day of each month or the day the Loan is repaid in full

Default fee - $30

Wage Deduction Authority fee - $15

Debt collection fee - $50

What happens if I fail to stick to our arrangement?

The only way our costs will change from our initial calculation is if you don’t keep to your arrangement - in other words, if you ask us to change your chosen repayment date or don’t ensure enough funds are available on your agreed repayment date.

If any of your payments dishonour, one of our repayment solution specialists will contact you to request payment.

If there is a genuine reason for a payment dishonouring, we will attempt to help you. If we receive your payment within 48 hours, no dishonour fee or additional interest on the delayed payment will apply.

If we still haven’t received the money 48 hours after the due date, you will be charged a $30 default fee towards the cost of a failed collection, plus interest costs on the unpaid balance.

We will then continue trying to contact you to discuss the situation and arrange a new schedule. If your circumstances have changed significantly, we will do our best to offer a solution and come to an arrangement that helps you get back on your feet.

We don't believe in continuously charging interest, like other lender’s might.

Please remember, if your situation does change and you need our help to rearrange payments, we will do so if you communicate with us. If you have doubts over whether you will be able to repay a loan comfortably, please act responsibly by not applying. We use the information and technology available to us to make the best lending decisions possible, but we urge you to consider the serious nature of the commitment you are making before you apply.

Save My Bacon understands that circumstances can change unexpectedly. If you are suffering unforeseen hardship due to illness, injury, loss of employment, the end of a relationship, or any other reasonable cause, and you believe that this will make it unreasonable for you to meet your obligations under your loan contract, then you should get in touch with us immediately to discuss the matter and any alternative arrangements available to you.

For those who qualify for financial hardship, interest will be capped, and an extension of the loan term and/or a postponement of the dates on which payments are due under the loan will be made available.

Click here for more information on our financial hardship policy.