Target Market Determination Document
This is some information about the overview of the
loan process at Direct Personal Loans
Direct Personal Loans Pty Ltd ABN 34 109 721 271
Australian Credit Licence 388081
Target Market Determination Document
How to use this document
The purpose of this document is to provide guidance on completing a Target Market Determination (TMD) to meet the requirements of the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill. This document is a prescribed document under the Corporations Act 2001 (CTH) to describe the class of person (the target market) for whom the product was designed. It is not advice.
In using this document consider the nature of the product, including any product variations, and the distribution approach when creating TMD.
Target Market Determination Products
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Small Amount Credit Contract “SACC”
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Medium Amount Credit Contract “MACC”
1. About this Document
This target market determination (TMD) seeks to offer consumers, distributors and staff with an understanding of the class of consumers for which this product has been designed, having regard to the objectives, financial situation and needs of the target market.
This document is not to be treated as a full summary of the product’s terms and conditions and is not intended to provide financial advice. Consumers must refer to the Contractual Terms and Conditions and Privacy Policy and any supplementary documents which outline the relevant terms and conditions under the product when making a decision about this product.
This TMD applies to SACC’s and MACC’s referred to and written under the following Direct Personal Loans Policy Documents & Guidelines;
* Direct Personal Loans Credit Guide Brochure
* Direct Personal Loans Policy Documents & Guidelines
* Direct Personal Loans Privacy Policies
* Direct Personal Loans NCCP Compliance Plan
* Electronic Transactions Act
* National Consumer Credit Protections Act and Enhancements Act
Date from which this target market determination is effective
5th October 2021
2. Class of consumers that fall within this target market
The information below summarises the overall class of consumers that fall within the target market for SACC’s and MACC’s based on the product key attributes and the objectives, financial situation and needs that it has been designed to meet. The Personal loans is for persons who want the discipline of making regular repayments repayments to repay the total loan balance within a planned term.
These products have been designed for consumers whose likely objectives, financial situation and needs (examples as listed below) are aligned with the product (including the key attributes).
A SACC and MACC are for those who:
* Are seeking an amount of credit for the purposes of a mechanical expense, registration or insurance, event or outing, household goods or renovations, weddings or funerals, medical or dental, motor vehicle or boat and basically any item that is considered essential or otherwise. A SACC and MACC are a short-term advance to meet a cash shortfall of any kind, for any consumer, of any age over 18 years, providing the application meets a very strict financial analysis under the NCCP Act along with other
regulatory guides the corporation abides to.
Target Market Determination
- Small Amount Credit Contract “SACC” $200 to $2000 from 4 weeks to 52 weeks Under NCCP Act 2009
- Medium Amount Credit Contract “MACC” $2100 to $5000 from 4 weeks to 104 weeks. Under NCCP Act 2009
Product description and key attributes Product description and key attributes
The key eligibility requirements and product attributes of a SACC and MACC are:
* Term of the loan, how interest, fees, charges and repayments are structured for circumstance, and restrictions on type of income and housing and representation arrangements if applicable.
* Product must be not unsuitable, meaning the purpose of the loan must be tangible under the circumstances and the product must meet or contribute to that purpose to derive a benefit to the consumer.
Objectives, financial situation, and needs Objectives, financial situation, and needs
This product has been designed for individuals who:
* Are seeking an amount of credit for the purposes of a mechanical expense, registration or insurance, event or outing, household goods or renovations, weddings or funerals, dental or medical, motor vehicle or boat and basically any item that is considered essential or otherwise. A SACC and MACC is a short-term advance to meet a cash shortfall of any kind, for any consumer, of any age over 18 years, providing the application meets a very strict financial analysis under the NCCP Act along with other regulatory guides the corporation abides to.
* The Personal Loan is not designed for, nor appropriate for loan objectives relating to gambling, alcohol or illegal purposes.
Excluded class of consumers
This product has not been designed for individuals who:
* Are represented, in hardship of for when hardship looks apparent.
* The product appears to be unsuitable or does not meet the purpose.
* The product does not offer any benefit or advantage to the consumers objectives
* Are unable to meet a suitable financial analysis showing ample expendable income to service the debt without hardship.
* The product is unable to be written without full compliance to the NCCP Act and other guides the company abides to.
Consistency between target market and the product
Consistency between consumer and product is based on need, objectives and financial affordability for each individual and their circumstances. This is based on an analysis of the key terms, features and attributes of the product and a finding that these are consistent with the identified class of consumers.
3. How this product is to be distributed
Distribution channels
This product is designed to be distributed through the following means:
*online, contact centres; franchise network; authorised representatives etc…
Distribution conditions
This product should only be distributed under the following circumstances:
* To individuals that meet eligibility requirements; individuals that have the appropriate borrowing capacity, and in accordance with lending guidelines by Direct Personal Loans and under the appropriate regulatory Act’s, Guides and Legislation.
Adequacy of distribution conditions and restrictions
This is based on an assessment of the distribution conditions and restrictions and that they are appropriate and will assist distribution in being directed towards the target market for whom the product has been designed.
4. Reviewing this target market determination
We will review this target market determination in accordance with the below:
Initial review: Within the 1st 12 months of the effective date. 
Periodic reviews: At least every 3 years from the initial review.
Review triggers or events: Any event or circumstances arise that would suggest the TMD is no longer appropriate. This may include (but not limited):  
* A material change to the design or distribution of the product, including related documentation. 
* Occurrence of a significant dealing. 
* Distribution conditions found to be inadequate. 
* External events such as adverse media coverage or regulatory attention; and  
* Significant changes in metrics, including, but not limited to, complaints etc.
* Breach of the NCCP Act and Responsible Lending Guidelines.
* Change in legislation.
* Significant numbers of hardship applications with 6 weeks of the loan being issued
Where a review trigger has occurred, this target market determination will be reviewed within 30 business days.
5. Reporting and monitoring this target market determination
We may collect the following information from our distributors in relation to this TMD.
Complaints: Direct Personal Loans and its distributors will report to the issuer (Direct Personal Loans Pty Ltd, Management Team on 0499 540 490 or via email dpl@bigpond.net.au or via our website directpersonalloan.com.au) all complaints in relation to the product(s) covered by this TMD either at that time or on a quarterly basis through systems implemented to capture as such. This will include written details
of the complaints.
Significant dealing: If a substantial amount of distribution is occurring outside the TMD or if distribution outside the target market is causing significant consumer harm) *Direct Personal Loans and its distributors will report to the issuer (Direct Personal Loans Pty Ltd, Management Team) if they become aware of a “significant dealing” that is not consistent with this TMD within 10 business days. The issuer on receipt of these significant dealings will report to ASIC within 10 business days.
Reporting to ASIC on request: In the event there are no breaches in the review period that require reporting to ASIC, Direct Personal Loans on request from ASIC would provide the terms in which our TMD applies which would determine as there were no Compliance breaches in the reporting period that this would relate to no breached to our Design and Distributions Obligations in that same period, thus nothing to report.
 How it works!
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1. The Application
Complete the application online
If your confused or need assistance at any time you can click the CALL US link, enter your details and someone will call you back asap
or by calling 0499 540 490 -
2. The Reply
An answer given within 60 minutes via phone or email:
- Pre-approved
(Subject to all information completed and the last 90 days of bank statement provided/uploaded/fax/emailed)
- Not proceeding
(You have not met our lending criteria, therefore the application is declined)
- Welcome to reapply
(Your current financial situation does not meet our normal lending criteria now. This may change at a later date, therefore you are welcome to reapply) -
3. The Verification
Verifying your application
- Photo ID (passport, driver's license, photo card, birth card) 1 or more
- Proof of income (last payslips, centrelink income statement) 1 or more
- Proof of address (utility bill, rates notice, insurance, registration) 1 or more
- Bank Statement (with your name, address, bsb and account number with minimum 90 days of transactions)
- Personal Contact Reference may be used to send mail care of you; should you not update your records promptly/ or if your uncontactable. [1 or more] -
4. The Signature
Signing the Documents
Accepted all terms and conditions by electronically signing and returning the email with the your unique code. -
5. The Funding
Giving you the money
Once the loan documents and contracts have been signed/electronically or in person, the funds will be electronically transferred into your bank account. All paperwork and verifying documents will need to be received by 3:00pm NSW AEST/AEDST before a transfer of funds are made into your account. If documents are received after 3:00pm NSW AEST/AEDST the funds transfer will occur the next business day.