The Costs of Applying with MyFi Services
All accounts are tailored to meet the individuals requirements. Once an application and assessment is complete and a lender within the panel has been selected, our members will be given multiple options for their repayment. When presented with the options, there will be no obligation to continue if this is still not fitting for the applicant.
We are completely transparent with all fees and charges associated with our service. You will be presented with all costs upfront as well as additional costs for unexpected events through the acceptance process as well as being given an option to cancel or amend the application if it does not suit your circumstance.
The costs are broken down into 2 components. The matched lenders costs and MyFi Services fees and charges.
As a guideline, below is a breakdown of what the costs may be for you.
Matched Lender Fees: fixed 5% of the amount borrowed
MyFi Services Fees: MyFi Services fees will vary depending on factors such as the length of the account. Typically the fees that will be charged in acquiring a $250 loan from a lender using MyFi Services platform will range from $113 to $212.
Note, that the MyFi Services is not a lender and fees are charged for the optional use of MyFi Services platform. These are independent of the principal and fees due to the lender matched. You do not need to use MyFi Services to acquire assistance from a lender. This will be at your own discretion to use the assistance.