Before you confirm your order, you’ll see the maximum total cost, including any interest, upfront at checkout. You won’t pay more interest than what’s shown at the time of the order.
Interest
Standard rate: 19.99% p.a.
Promotional rate: 0% p.a. may apply to eligible purchases for a limited time
Interest is calculated daily on the remaining principal and charged monthly.
At Apple, a 0% p.a. promotional rate applies for a limited time, meaning customers pay no interest at all. The standard rate of 19.99% p.a. applies unless a promotional rate is offered.
How interest works over time
Where interest does apply, the maximum total amount is calculated and disclosed upfront at checkout before you confirm. You’ll never pay more interest than what is shown at the time of your order.
As you make payments, your remaining principal decreases. Because interest is calculated daily on what you still owe, each month accrues slightly less interest than the last.
Paying early reduces the total interest you pay.
Late fees
If a scheduled payment is missed, the following fees may be charged:
$17 the day after your payment is due
$12 if the same payment is still unpaid seven days later
Late fees are capped at the lower of 15% of the order value or $250 per order. Late fees do not accrue interest. If you’ve already reached the late fee cap on an order, no additional late fees will be charged on that order.
What you see at checkout
Before you confirm, your Afterpay payment summary shows what’s due now, what you’ll pay later, and the maximum interest for your order. You’ll never pay more interest than what’s shown at checkout.
For a full breakdown of charges that may be due at the time of your order, see Why was I charged at checkout?
Understanding “amount owed” vs “total left to pay”
These are two different figures you’ll see on your Pay Monthly order:
Amount owed: what you’ll pay if the order runs to full term, including all future interest and fees due but unpaid
Total left to pay: what you’d pay to clear the order today, excluding future interest. This is always equal to or lower than the amount owed
Afterpay Australia Pty Ltd ABN 15 169 342 947, Australian Credit Licence 527911