Design and Distribution Obligations (DDO) are new obligations that requires issuers and distributors of financial products to take reasonable steps that make it likely that customers are offered products for which they are in the target market. DDO will come into effect from Tuesday 5 October 2021.
This Target Market Determination (TMD) document is not intended to provide financial advice. Please refer to our Terms and Conditions and Credit Guide before deciding product suitability. Our product terms and conditions will be provided to you upon request. This TMD aims to provide an understanding of the class of customers we have designed this product for, being the target market. When considering the target market, we focused on our customers’ objectives, financial situation, and needs within this class of people we believe this product to be suitable.
This TMD is for the Loans Products regulated by National Credit Code, funded by us (Breezy Loans ABN 29 627 702 943 as a Credit Representative Number 514197 under Installment Loans ABN 13 690 290 821 (Australian Credit Licence 389610). And where we work as an affiliate and and loans are funded by one of themultiple licenced lenders who we work with,,as we believe the chances for approval are much higher because of the different risk appetite of individual lenders. The marketplace platforms are used by both Lenders and Affiliates to increase the approval rate for borrowers who are looking for the same products or alternative to these products. The third party lenders’ target market determinations would be available on their respective websites orother resources. We may receive commission from the prospective lenders (amount unascertainable).Breezy Loans Pty ltd place provide extreme importance on protecting your personal information. Our strict standards have been put in place to keep your information secure. Our policies and procedures comply with Australia’s privacy principles governing the protection of personal information, set out under the in the Privacy Act 1998 (Cth) (as amended) (Privacy Act) and any other relevant law. Personal information collected by us will only be used for the purpose in which it was collected, or as allowed under law. We want you to feel confident in our ability to protect your personal information.
The features of this product have been assessed as meeting the likely objectives, the financial situation and needs of consumers who require an unsecure personal loan between $300 to $2000, repayable over the term of 91 days to 1 year, to cover up the unexpected small expenses like – car repair, dental expenses, overdue bill, travel, to change small home appliance, rental bonds etc. Frequent users of these products are theconsumers who need the funds within 24hrs, and their needs cannot be fulfilled by traditional lenders. These loans are designed for people who are earning regular income and does not have a savings to meet some unexpected expenses. These loans come with an option to repay early without any early termination fee so that the customer can get back on track. The loans are designed to assess & fund same day so that the customers don’t wait for too long to fulfill their needs. Most of the customers applications are assessed and funded within 2-3 hours. Although the rates are high but, the value and availability of these products attract consumers to fulfill their quick needs without going into a long contract.
Consumers outside the target markets are consumers that require loans for business purpose, for buying a car, unemployed people& who do not meet with the eligibility requirements.
The features of this product have been assessed as meeting the likely objectives, the financial situation and needs of consumers who require an unsecure/secure personal loans between $2100 to $5000, repayable over the term of 91 days to 2 year, to cover up the unexpected big expenses like, car repair, dental/medical expenses, overdue bill, travel, renovation, International Students who are waiting for money to arrive from their parentsetc. Frequent users of these products are the consumers who need the funds within 24hrs and their needs cannot be fulfilled by traditional lenders. These loans can be secured or unsecured, based on customer’s risk profile. These loans are designed for people who are earning regular income and does not have a savings to meet some unexpected slightly bigger expenses. These loans come with an option to repay early without any early termination fee so that the customer can get back on track. The loans are designed to assess & fund same day so that the customers don’t wait for too long to fulfill their needs. Most of the customers applications are assessed and funded within 6-8 hours. Although the rates are high but, the value and availability of these products attract consumers to fulfill their quick needs without going into a long contract.
Consumers outside the target markets are consumers that require loans for business purpose, unemployed people& who do not meet with the eligibility requirements.
Initial review of this target market determination will occur within 12 months of the date of this TMD. The customer will be able to report reviews on our products by the social media review channels and by sending us an email to:- firstname.lastname@example.org, email@example.com, firstname.lastname@example.org
Breezy Loans Pty Ltd ABN: 29 627 702 943, Credit Representative Number 514197 provide credit services under Australian Credit License number 389610. If we could not provide you credit, we will help to match your credit enquiry with another lender partner from our panel of lenders who we think may help you. Our panel of lender partners are licensed and follow responsible lending practice. We may receive referral fee (amount not ascertainable) if you decide to go with them once approved. However, they may ask you further information to assess your loan application where you can deal directly with that lender.The information on this website is general in nature and does not take into account your objectives, financial situation or needs & does not constitute any financial advice.We strongly recommend you take independent advice before choosing any loan product.
By accepting these terms and conditions you give your consent to Breezy Loans Pty Ltd and Installment Loans to disclose your name, residential address and date of birth to a credit reporting agency and ask the credit reporting agency to provide an assessment of whether the personal information so provided matches (in whole or in part) personal information contained in a credit information file in the possession or control of the credit reporting agency to assist in verifying your identity for the purposes of the Anti-Money Laundering and Counter-Terrorism Act 2006.The credit reporting agency may prepare and provide Breezy Loans Pty Ltd with such an assessment and may use your personal information including the names, residential addresses and dates of birth contained in credit information files of you and other individuals for the purposes of preparing such an assessment. If you disagree with having your identity verified by a credit reporting agency, please select another data source or contact Breezy Loans Pty Ltd so that we can discuss other options with you.
*Instant transfer is available to PayID holders with participating Australian financial institutions. Most of the payments are typically settled in under 60 seconds but may be subject to checks and holds at the sending or receiving bank. As the reason, our standard payment transfer time is 24 hours.