Zip Money

Applications take around 5 minutes to complete. Make sure you have your online banking login details, proof of identity and employment information handy to help with a speedy application. Most applications are decided within the same business day, however applications submitted on weekends or that require further information may take longer.

When applying direct with Zip.co you can apply for up to $5,000 with Zip Money, every purchase you make will automatically come with 12 months interest free on repayments*.

Repayments are automatically direct debited from the payment method that you added when you created the account. You can change the payment method at any time and the frequency of your payments to weekly, fortnightly or monthly as long as you’re covering the minimum monthly repayments. Choose what works best for you.

If you return goods to a retailer and they agree to a refund, your Zip account will be credited with the agreed refund amount. The funds will then be put towards your owing balance or depending on the refund amount your account may be placed in credit.

When activating your account, your contract will indicate the interest-free period you will receive on your first purchase. The interest-free period applies to the actual purchases on your account rather than the credit limit itself.

If you do not have an order attached to your application, the promotional interest-free period that you were quoted will not be stated. Only once you register your account and make a purchase will the promotional interest-free period apply.

After the interest-free period, the standard annual interest rate applies which is 25.9% for new customers. Please check your contract to confirm your interest rate.

How is interest charged?
Every Zip Money purchase comes with its own interest-free period, from a minimum of 3 months. During this period, your purchase won’t incur any interest – which means if you pay off your purchase within this period, you’ll only pay the purchase amount (plus any monthly account fees, if applicable).

After the interest-free period ends, interest will be charged at the standard annual percentage rate, 25.9% for all new customers. Your exact interest rate will be outlined in your contract. As each merchant may offer different interest-free terms, it’s important to confirm the interest-free offer before completing your purchase.

Interest is accrued daily and charged to your account at the end of each month. This charge will be displayed on your statement so you can keep track of how much interest has been applied.