Effective from June 2025
1. This Target Market Determination (TMD) has been developed to:
2. The Products include the provision of credit to retail consumers pursuant to Div 2 of Pt 2 of the Australian Securities Investments Commission Act 2001 (ASIC Act). Branch Loans Pty Ltd (the Issuer) is therefore a credit provider and is regulated under the National Consumer Protection Act 2009 (National Credit Act).
3. This TMD specifically covers the following Branch Loans Pty Ltd products (Products):
4. This document is not a full summary of the Products’ terms and conditions contained in the customer terms issued by Branch Loans Pty Ltd (and any supplementary documents), nor is this TMD intended to provide financial product advice.
TARGET CLASS | |||
---|---|---|---|
Product | Cash Loans (Small Amount Credit Contract) | Personal Loans (Medium Amount Credit Contract | Personal Loans (All Other Credit)) |
Likely objectives |
This Product is suitable for borrowers with the following likely objectives, financial situation and
financial needs
|
This Product is suitable for borrowers with the following likely objectives, financial situation and
financial needs:
|
This Product is suitable for borrowers with the following likely objectives, financial situation and
financial needs:
|
Likely financial situation and needs |
This Product is suitable for a Target Class with the following likely financial situation and needs:
|
This Product is suitable for a Target Class with the following likely financial situation and needs
|
This Product is suitable for a Target Class with the following likely financial situation and needs:
|
Key Product Attributes |
This Product contains the following key attributes:
|
This Product contains the following key attributes:
|
This Product contains the following key attributes:
|
Ineligible/excluded class of consumers |
Branch Loans Pty Ltd has determined that the Product is not suitable for the following class/type of
consumers:
|
Branch Loans Pty Ltd has determined that the Product is not suitable for the following class/type of
consumers:
|
1. Branch Loans Pty Ltd has determined that based on the Products’ key attributes, the Products have a fairly broad target market.
2. The Products are distributed through the following channels
3. If Branch Loans Pty Ltd or its distributors become aware that the distribution conditions outlined in this TMD are no longer adequate such that consumers outside of the Target Class are able to gain access to the Products, this TMD shall immediately be reviewed.
Branch Loans Pty Ltd has determined that the following events and circumstances will make the Products no longer appropriate to the Target Class:
1. This TMD shall be reviewed periodically at least every 6months from the date of the Initial Review Date.
2. Any of the following circumstances shall trigger a review of this TMD:
1. To ensure that the Product meets the reporting obligations set out under the ASIC Regulations Guide 274, Branch Loans Pty Ltd requires its distributors to
2. All distributors are required to report to Branch Loans Pty Ltd in accordance with the following reporting periods:
3. For the purposes of this TMD, a “Significant Dealing” shall mean any of the following occurrences in relation to consumers outside of the target class acquiring a loan
The dealing is significant because it constitutes a transaction which has resulted in, or will or is likely to result in, significant detriment to the customer because the distribution of the Product results in more than 5% of customers outside the Target Class being issued the Product
4. The reporting obligations shall apply to the following distributors:
5. 5. All complaints received by distributors in relation to this Product (including those in written form) will be reviewed immediately upon receipt of the complaint.
6. Branch Loans Pty Ltd is required to notify ASIC of any Significant Dealings within 10 business days
Issue Date June 2025
Last Review Date May 2025
Next Review Date December 2025