Depending on your role, this benefit allows you to potentially save on repayments for a personal loan relating to anything from a car, to consolidating your debts, or going on a holiday. You must named as the borrower or one of the joint borrowers. You can only package a personal loan in the name of another person if you can provide evidence that you are legally responsible (e.g. a court order) for the loan repayments. Payments can be made directly to your financial institution or as a reimbursement back to you. You can set up a once off payment or regular payments depending on how you use these services.
For more information about this benefit and your eligibility criteria, please refer to the Employee Information Booklets and Benefit Item Fact Sheets which can be found here.
How do I claim?
- a copy of your loan statement or bank letter to substantiate your claim. This should include the name of the lender, lender BSB, account names, loan account number and total amount owing
- an official document showing details of when personal loan payments are to be made (e.g. weekly, fortnightly, monthly, quarterly) and the regular due date (if requesting direct payments)
- proof of payment to the lender if seeking reimbursement (e.g. copy of bank statements showing direct debit from your account to your personal loan account)
- a completed Personal Loan Repayments Loan Draw Down Declaration
- the Non-salary Packaging Fringe Benefit Declaration if you receive non-salary packaging fringe benefits.
Please ensure your documents include the correct loan number (an application or contract number may not be your loan account number).