There are some fees associated with our peer-to-peer lending. Whilst we can’t take away fees completely, we can promise that our lending fees are fair, considered and competitive.

There’s nothing vague or hidden with Squirrel and we won’t sting you down the line.

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Who pays what?

This table gives you a rundown of what the fees are for, how they’re calculated and who’s responsible for paying them. For more detail, also check out our FAQs.

  Who Amount Comment
Establishment fee Borrower

$250 for Car Loans and Personal Loans

$500 for Debt Consolidation Loans

$0 for Homeowner's Loans

Charged upfront and deducted from the loan advance.
Default fee Borrower

$25 per month 

Charged to the loan account if the loan is in arrears (5-day grace period). [Not applicable to Homeowner's Loans.] 

Dishonour fee Borrower $15 per transaction 

Charged to the loan account if a Direct Debit payment dishonours. [Not applicable to Homeowner's Loans.] 

Security Release fee Borrower $150

Charged to the loan account upon discharging our security interest where property has been used as security for a loan. [Not applicable to Homeowner's Loans.] 

Default interest Borrower

Accrues at 5% on top of the normal interest rate of the overdue amount for Car Loans, Debt Consolidation Loans and Personal Loans 


Accrues at 10% on top of the normal interest rate of the overdue amount for Homeowner's Loan

Charged to the loan account if the loan is in arrears for more than 5 days.  

Service margin  Investor Up to 3% p.a. of the loan balance deducted from gross loan repayment Charged to the Investor by deducting from the Borrower’s repayments. The applicable service margin is dependent on the risk grade of the Borrower. Please see below.
Secondary Market transfer fee Investor 1% of the loan balance transferred up to a maximum of $50 per investment

Charged to the Investor and deducted from the net proceeds from transfer of the loan to another Investor.

[Not applicable to Homeowner's Loans in the event where Squirrel automatically lists on the Secondary Market at the end of the 12-month interest-only period]

Potential additional fees

Squirrel has the ability to divert up to 100% of Investor interest payments into Loan Shield if the reserve fund is depleted. For more information on how Loan Shield works, please click here.

Service Margin

The service margins displayed below are based on the risk grade applied to a loan and are deducted from the gross loan repayments of the Borrower.

Risk Grade A B C D E
 Service Margin 0.95% p.a.  1.95% p.a. 1.95% p.a. 2.95% p.a. 2.95% p.a.