24 months
interest free
through Zip.

What is zip money?

Zip Money is a reusable account that lets you buy now and pay later. Zip Money enables you to shop up to your account limit, then set flexible repayments to suit your lifestyle. There’s no deposit and every purchase comes with its own interest-free period.

How does it work?

You can apply for a Zip Money account and get a decision in minutes. Once approved, you can begin shopping.

How do repayments work?

Repayments start from $40 a month and are based on your account’s credit limit. You can choose from weekly, fortnightly, or monthly repayments and pay any amount you like, as long as you meet the monthly minimum for your account (outlined in your contract).

Every Zip Money purchase comes with an interest-free period; if you pay off your purchase within this period, you won’t pay any interest. After this period, a standard interest rate of 19.9% will apply to any remaining balance.

You can make additional payments at any time, and there are no penalties for paying off your purchase early.

If there’s nothing owing on your account, there’s nothing to pay and no fees. Your account simply remains active until you’re ready to make a purchase again.

Am I eligible for Zip Money?

To be eligible to apply for a Zip Money account, you need to:

  • Be an Australian citizen or permanent resident
  • Be at least 18 years of age
  • Be employed in some capacity, earning more than $300 per week
  • Have not declared bankruptcy or insolvency

Zip will apply their lending criteria to each application.

What are the fees and interest?

Every Zip Money purchase comes with a minimum 3-months interest-free period. After the interest-free period, a standard interest rate of 19.9% p.a. applies.

There may be a one-off set-up fee depending on your account limit, which Zip will add to your balance so there’s nothing to pay upfront. There’s a $6.00 monthly account fee, which is waived if your closing balance is paid by the due date. No balance, no fee.

Zip may charge a $5.00 late payment fee if you don’t meet the monthly minimum and a $5.00 bank dishonour fee if your scheduled payment was rejected or dishonoured by your bank.

How do refunds work?

Our team will process the refunded amount which will appear back in your Zip account. If a refund puts your Zip account in credit, you can contact Zip to have the amount refunded to your bank account instead.