When it comes to borrowing money, understanding the process and setting realistic expectations is crucial. At Nectar Money, we strive to make your borrowing experience as transparent as possible. One common question we receive is about the accuracy of our online calculator and how it compares to the final offer you might receive. Let’s break this down.
Our online calculator serves as a helpful starting point for potential borrowers. It uses typical rates and terms, such as 9.95% to 29.95% and 6 months to 5 years months, to give you an estimate of what you might expect. However, it’s important to remember that this calculator is just that—a guide. It provides a ballpark figure based on general conditions and assumptions.
Once you decide to take the next step, you can request a personalised online quote. This quote is based on real information about your financial situation and includes a soft check of your credit history. This means we take a closer look at your individual circumstances, which can lead to a more tailored offer. While this quote is more accurate than the initial calculator estimate, it’s still not the final word.
The final offer you receive comes after a full verification process. This involves a thorough review of your financial details, credit history, and any other relevant information. During this stage, we aim to ensure that all information is accurate and up-to-date. It’s here that you might notice some differences between your personalised quote and the final offer. This could be due to various factors, such as new information that comes to light during the verification process or changes in your financial situation.
It’s natural to wonder why there might be discrepancies between the initial calculator, the personalised quote, and the final offer. Here are some common reasons:
At Nectar Money, we believe in responsible borrowing. It’s essential to approach the borrowing process with a clear understanding of what to expect. While our calculator and personalised quotes are designed to give you a good idea of potential borrowing costs, the final offer may differ based on a variety of factors. We encourage you to consider these variations as part of your overall financial planning.
In summary, while our calculator provides a useful estimate, and the personalised quote offers a more tailored view, the final offer is the result of a comprehensive verification process. We aim to keep the borrowing journey as consistent as possible and will communicate any changes clearly. Remember, responsible borrowing is about understanding your financial commitments and making informed decisions. If you have any questions or need further clarification, our team is here to help you navigate the process.
* A Nectar Money loan requires responsible borrowing checks and must meet standard borrowing criteria. Interest rates 9.95% - 29.95%p.a. fixed. $240 establishment fee, $1.75 admin fee per repayment apply. Please see our privacy policy and rates and terms or visit our FAQs for the most up to date information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Nectar Money, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
