Broker guide
City Finance Personal Loans: Eligibility and Cost 2026
Check the Australian City Finance personal loan the client means. Review its contract category, income evidence, charges and actual repayment commitment.
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A City Finance personal loan in Australia can be a small, medium or large amount credit contract, with different fees and repayment terms. Identify the contract before recording the debt: a small loan’s monthly fee is calculated on the original amount, and its cost isn’t an annual interest rate.
Identify the Australian Credit Provider
The Australian provider at cityfinance.com.au is City Finance Lending Pty Limited, Australian Credit Licence 469854. Its credit guide identifies that company as the credit provider. Match the name and licence to the client’s signed contract before using information from a similarly named overseas lender.
The website terms distinguish City Finance Australia Pty Ltd, which operates the website, from City Finance Lending Pty Ltd. A website operator’s name isn’t enough to identify the creditor on a particular debt. Keep the contract’s legal entity and account number in the broker file.
City Finance’s credit guide states that it doesn’t use brokers or referrers, or pay or receive commissions. A mortgage broker can still encounter its loan while reviewing a client’s liabilities. Treat that work as reconciling an existing commitment, without assuming a broker lodgement channel.
Contract Category and Applicant Evidence
City Finance’s product documents describe three unsecured personal-loan categories with different amounts and terms. The table shows its published product ranges, not the legal definition of every contract category.
| City Finance product | Loan amount | Term | Minimum monthly income in its target market |
|---|---|---|---|
| Small Amount Credit Contract (SACC) | $500 to $2,000 | 12 to 52 weeks | $1,580 |
| Medium Amount Credit Contract (MACC) | $2,100 to $5,000 | 12 to 78 weeks | $1,820 |
| Large Amount Credit Contract (LACC) | $5,100 to $10,000 | 18 to 36 months | $1,820 |
The small amount target market determination describes the intended borrower group and distribution conditions. The medium amount determination and large amount determination apply to their respective products. Meeting an income floor doesn’t establish affordability or approval.
The small amount determination’s usual age range is 21 to 85. It allows consideration from age 18 where the applicant demonstrates positive payment behaviour. It also requires Australian citizenship or permanent residency, a fixed Australian address and a bank account capable of direct debits.
City Finance’s application FAQ requires 100 points of identification and the latest 90 days of banking transaction history. It uses the banking section of its online application to collect that history. It doesn’t accept PDF statements or screenshots instead, and applicants need internet banking access.
A recent payslip or Centrelink Income Statement can also be required. The large amount determination describes acceptable income as regular, recurring and ongoing, including wages, government benefits and certain other documented receipts. Income source and income amount are separate assessment questions.
For small amount contracts, the Australian Securities and Investments Commission (ASIC) explains the 10% net-income repayment cap. Total repayments across the borrower’s small amount contracts must stay within that cap. It doesn’t replace the assessment of living costs or establish spare capacity for another loan.
Read Fees and Repayments Together
City Finance’s loan costs page separates small-loan fees from interest-bearing medium and large loans. Use the signed financial table to establish the client’s charges and total repayment obligation.
| Product | Interest basis | Establishment fee | Monthly fee |
|---|---|---|---|
| SACC | No interest rate applies | 20% of the loan amount | 4% of the original loan amount |
| MACC | 48% annual percentage rate | $400 | None listed |
| LACC | 19.90% to 27.90% annual percentage rate | $275 to $985 | $29 |
A hypothetical $1,000 SACC has a $200 establishment fee and a $40 monthly fee under that published fee basis. The $40 uses the original $1,000, even after the borrower reduces the balance. Read the contract’s charged periods and total payable before calculating the full cost.
Calling that monthly fee “4% interest” changes its meaning. Multiplying it by 12 also fails to give a like-for-like annual interest rate on the reducing balance. Compare the cash received with all scheduled payments and applicable charges.
City Finance permits weekly, fortnightly or monthly repayment cycles. Read the frequency beside the amount when assessing the household budget. A fortnightly deduction occurs 26 times in a 52-week year, so treating it as twice monthly understates the commitment.
Before the client takes new credit, compare other personal loan lenders and whether the expense can be handled without borrowing. An affordable instalment still leaves fees and a repayment obligation.
Record the Existing Commitment
Reconcile a City Finance commitment from the signed contract, current loan statement and actual bank deductions. The original advance, current balance and payout amount answer different questions. A count of remaining payments doesn’t establish the amount needed to close the loan today.
Use bank statement analysis to match the deduction’s reference and frequency to the correct account. In a hypothetical file, a $45 fortnightly payment is $97.50 per month when annualised as $45 multiplied by 26, divided by 12. Keep the original $45 fortnightly schedule beside the converted figure.
Ask the client to retrieve the contract and statements through City Finance’s customer portal. For early repayment, its FAQ directs customers to call 07 3458 9200 or contact its payments team. The costs page states that early repayment and early termination fees don’t apply.
Obtain the payout amount for the intended settlement, then retain confirmation that the account closes after payment. If deductions differ from the schedule, establish whether there is an agreed variation or a missed-payment charge before changing the liability figure.
For a disputed balance or charge, the credit guide lists complaints@cityfinance.com.au and 07 3458 9200. It identifies the Australian Financial Complaints Authority as the external dispute-resolution route if the customer remains dissatisfied. If the client cannot meet payments, use the hardship contact in the guide and record the agreed arrangement alongside the original schedule.
