Ok, so, I have a viridian LOC.
The loan was created on the 26th of July, with a configured debit rate of 0.00%.
The loan was then funded with 49K more or less on the 21st of August, and I started drawing down immediately.
On the 25th of August, I have the following entry:
DEBIT RATE IS 0.000% PA TO $49000 THEN 15.200% PA.
Then a $12.00 accounting fee.
There is no interest charge there.
i've drawn down more since, and got hit with another 2 account fees of 12.00, but STILL no interest has been applied to the account.
I just rang and spoke to the CBA, and the operator told me that it is in fact correct, that it's not like a credit card, and it's all just compressed into the motnhly accounting fee.
That makes no sense though.
Can someone tell me if i should, in fact, be paying interest, as I think I should be.. I'm sure that if it's a mistake, they'll realise eventually, and come and claw their money back.. i'd rather be up front with them.
The loan was created on the 26th of July, with a configured debit rate of 0.00%.
The loan was then funded with 49K more or less on the 21st of August, and I started drawing down immediately.
On the 25th of August, I have the following entry:
DEBIT RATE IS 0.000% PA TO $49000 THEN 15.200% PA.
Then a $12.00 accounting fee.
There is no interest charge there.
i've drawn down more since, and got hit with another 2 account fees of 12.00, but STILL no interest has been applied to the account.
I just rang and spoke to the CBA, and the operator told me that it is in fact correct, that it's not like a credit card, and it's all just compressed into the motnhly accounting fee.
That makes no sense though.
Can someone tell me if i should, in fact, be paying interest, as I think I should be.. I'm sure that if it's a mistake, they'll realise eventually, and come and claw their money back.. i'd rather be up front with them.
