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NAB's Small Loans Pilot continues to test the cost of offering short-term, small personal loans in the fringe credit market.
Working with alternate lender Mobile Finance (trading as Money Fast Pty Ltd), NAB's pilot aims to show the break-even costs of these types of loans and draw attention to the high interest rates and charges associated with pay-day and fringe lending.
So how do the numbers add up? Find out here and access our latest quarterly report.
The pilot is not a commercial venture for NAB, but an extension of NAB's microfinance programs that aim to address financial exclusion by helping Australians access fair and affordable financial services.
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