The team at Save My Bacon are committed to the practice of responsible lending and do not want to keep you in debt. We want you to repay your loan quickly and we aim to only lend to people who we believe can afford to repay us as agreed.
Our service is designed to put you in control of your cashflow, for those times when the occasional emergency or unexpected bill surprises you.
At Save My Bacon we are firmly of the view that loans do not go bad, they start bad. Therefore we undertake reasonable enquiries to verify your financial situation. We do this in order to make a responsible assessment about the suitability of the contract for you and the affordability of the loan.
Varying loan amounts are available with a Save My Bacon short-term loan - up to $1000. We only lend to those customers that we believe have the means to repay the loan as agreed.
As part of our commitment to responsible lending, customers need to be in permanent employment in order to obtain a loan from Save My Bacon.
The amount of money we lend is also based on your income. This is because we want you to be able to repay your Save My Bacon short-term loan as soon as possible and it is important that you do not borrow more than you can afford. You need to meet our minimum income test of about $400 net pay per week. Use our Online Loan Calculator to determine how much you can borrow.
At Save My Bacon we calculate the total amount repayable for you upfront.
We also make you aware of the ‘annual interest rate’ which is shown on the homepage of the website. We aren't actually obliged to show this on our website, but we want to be upfront with you.
We don't really charge hundreds of percent in interest so this annualised measure doesn't actually represent the true cost of a Save My Bacon loan. To find out more read the Charges section of the our website.
Our system allows us to provide continuous disclosure regarding your outstanding loan balance (ie. the amount that if paid today, would settle the loan) and how to repay the balance. You can repay early and, if you do, then you will save money.
If costs increase, it’s because you’ve failed to honour your Loan Agreement. Please see 'What happens if I fail to stick to our Arrangement?' in the Charges section for details of the consequences.
Part of our responsible lending process includes collecting personal information.
New legislation means all Banks and Financial institutions must identify all new customers. Please read our FAQs to find out more about our identification process
At Save My Bacon we reserve the right to run a credit check. We do this as part of our assessment of the suitability and affordability of a loan for you.
Our commitment to responsible lending practice means we aim to only lend to those who can afford to pay us back on their repayment date/s as agreed.
We know a few past mistakes can lead to a bad credit history. Therefore, if you have a bad credit rating we may still lend to you. Bad credit loans are based on your capacity to meet your loan repayment/s and future credit worthiness. Please use our Online Loan Calculator to determine how much you can borrow.
While it is important when applying for a line of credit to choose a company that practices responsible lending, it is just as important to make sure that you use a short-term loan responsibly. This is what we trust you will do with a Save My Bacon loan.
To help ensure you are a responsible borrower, you should never use a Save My Bacon short-term for a long term financial challenge and you should never borrow more than you can comfortably afford to pay back on your scheduled repayment date/s.
Our website provides access to a Free Budget Service and gives some guidance about how to use it responsibly. We strongly advise that you think carefully before applying for a Save My Bacon short-term loan, because we expect it to be repaid as agreed. We describe the potential consequences of failing to repay as promised in our FAQs and Our Charges sections.
If you are concerned about long-term debt, then please do not apply. To help manage your debt you could contact the Citizens Advice Bureau