costs – fees and interest

what you see is what you get

We’ve made our loans clear and fair. There are no hidden costs, small print or surprises. See our fees below.

We pride ourselves on being a responsible lender. A big part of that is ensuring that all of our customers understand the fees and charges associated with their loan. If there is something you don’t understand, just ask our team or check our Q&A.

types of loans

small

K100 to K1000
7 to 56 days

medium

K1000 to K2000
56 to 84 days

fee structure

establishment fee
fee charged for processing, assessing and approving your finance application, this will only be charged if your application is approved		 K25
defaulted fee
fee is charged in the event that you default on your Loan Agreement, it is payable as part of your loan repayments.		 K20
extension fee
payable on the lender agreeing to extend the loan, or agreeing for the customer to miss a payment, or to only make a partial payment		 K28
credit agency lodgement
payable in the event that we lodge a default on your credit record, it is payable as part of your loan repayments		 K28
debt collection services
payable in the event we are required to commence debt collection proceedings 		K28/hr

warning about borrowing

Moni Market specialises in providing fast little loans. You can borrow K100 to K2000 for between 2 and 12 weeks.

When you get a loan with Moni Market, you know exactly what you are getting. We promise there are no hidden costs, no small print and no nasty surprises. What you see is what you get.

Our loans have been designed to provide quick, clear and fair finance for people who need help making ends meet.

Moni Market Financial Services Limited is a registered company operating within PNG.

The Credit Agreement (Loan Agreement) will be governed by the laws of PNG.

  1. Establishment Fee – K25
  2. K28 extension fee should you require additional time to repay
  3. Interest is charged at 25-50% per day based on your loan assessment, the original loan size and length of the loan.
  4. K30 wage deduction fee if you fail to repay your loan
  5. K20 default fee if you fail to make your payment

See Moni Market Fee Table

We will get in touch with you if any of your payments dishonour and if you have a genuine reason we will do everything we can to help you. If you are able to make the payment within 36 hours we will not charge a default fee of K20.

If we have not been able to come to some agreement after ten days, or you have dishonoured more than once, we will arrange to recover the loan by wage deduction.

If we still have not been paid in full we will lodge a default against your credit report, this may be followed by legal action.

If you have experienced some form of hardship e.g. sickness, redundancy, family bereavement—between taking your loan and your payment we will look to put a new schedule together without adding additional fees.

If you fail to repay your loan it will negatively affect your credit rating.

Moni Market loans are only suitable to improve short term cash flow requirements.

Any advice provided is generic in nature and may not suit your individual Needs. If you are already in debt we would advise you to seek professional budgeting advice before taking out a Moni Market loan.

If you have any questions about the loan, or do not understand what you are signing, you should seek independent legal advice before signing your loan agreement.