Ugo Money

Create a Ugo account to securely apply for credit and check your existing accounts. With the Ugo app you can check your balance, your upcoming payments and your payment history for each of your Ugo accounts, and apply for a new loan when you need it.

The Ugo app lets you apply instantly for a new loan, and you can also refinance existing loans through the messaging function (subject to our normal criteria). Once your loan is approved you’ll get an email of the loan contract, and Ugo can deposit the funds instantly to most bank accounts.

The message function allows you to send text and images to your Ugo account, and review Ugo’s replies within the app. This way, you always have a secure and convenient way to get in touch with Ugo, and keep a record of your messages.

With the Ugo app, you’ll always know you’re dealing directly with Ugo, all your information is stored on our private servers, and it’s the fastest way to request a new loan or to view details about your accounts.
Privacy Policy
You can follow this URL to find the Ugo app accesses, collects, uses, and shares user data.
https://ugo.money/ugo/privacy-policy

Fee Statement
This fee statement makes our fees simple and up front. Any of the below fees that apply to your loan will also be stated in your loan contract.
All loans have a minimum repayment period of 60 days, and the maximum repayment period for loans is 12 months.
SACC Loans - Loans from $0 to $2,000
Loans up to $2,000 are referred to as SACCs (Small Amount Credit Contracts)
Establishment Fee: 20% of the principle borrowed a one-off fee at the beginning of the loan
Monthly Fee: 4% of the principle borrowed
Charged per month or part thereof, where there is an outstanding debt balance
MACC Loans - Loans from $2,001 to $5,000
Loans from to $2,001 to $5,000 are referred to as MACCs (Medium Amount Credit Contracts)
Establishment Fee: $400 (a one-off fee at the beginning of the loan)
Interest: 47.5% per annum charged monthly in arrears
Comparison Rate: 65.7% (see example loan below)
Maximum Annual Percentage Rate is 144%
There are no extra fees for early payment of the loan.
The interest on MACCs is compounding - you’ll pay interest on unpaid previous interest
Example Loan
Loan Advance $2,500.00
Establishment Fee $400.00
Amount Financed $2,900.00
Interest Rate 47.5% pa
Loan Term 24 months
Payments
Regular: 24 due Monthly
First Regular: $189.45
Final Regular: $189.08
Interest $1,646.43
Balance Payable $4,546.43
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. This is a prescribed calculation and Ugo does not offer loans for $2,500 over a term of 2 years.
Late or Missed Payments
Dishonour Fee $15
Charged each time a direct debit or other payment is not made in full and on time
This fee includes our reasonable internal administrative costs and external third-party costs
Default Fee $27 per 7 days
To cover reasonable costs of administering your account while it remains in default
Reschedule Fee $15
Charged each time a repayment is rescheduled
This is a service fee which includes our reasonable internal administrative costs This fee is not charged on SACC accounts
Enforcement Expenses
The costs paid to third parties to recover accounts in default