InvestSMART

Fundlater Terms & Conditions

Key information:

  • Fundlater allows you to pay for your $10,000 minimum investment in an InvestSMART Professionally Managed Account with an initial investment of $4,000 and 20 monthly instalments of $320, which includes a $20 per month facility fee.
  • InvestSMART will lend you the balance of $6,000 on a full non-recourse basis.
  • Your first instalment is due one month after you make your investment. The next 19 instalments are due every month after your first instalment.
  • If you miss an instalment, we will allow you 10 business days to pay the missed payment. If that is not received by us, we will redeem your investment at market value less brokerage costs and deduct any outstanding instalments at that time and return the balance to you. If the market value of your portfolio is less than the total value of outstanding instalments you will not owe InvestSMART any money and your account will be closed, and this contract terminated.
  • If you miss an instalment, your credit rating and credit score may be affected in a way that impacts your ability to obtain further credit.
  • Before you proceed, please carefully consider the Fundlater terms and conditions and whether you will be able to pay the instalments when they are due.

Terms and Conditions

  1. InvestSMART Fundlater is a fixed sum credit arrangement of $6,000 (loan Amount), granted to you, the investor, (“you”) by InvestSMART Financial Services Pty Ltd ACN: 089 038 531 (“InvestSMART FS”, “us” or “we”) pursuant to this Contract.
  2. Your Initial Investment of $4,000 must be made into one and only one Eligible Portfolio available on the InvestSMART Professionally Managed Account (“PMA account”) under the product disclosure statement issued on 1 November 2018 (and updated on 31 August 2021)
  3. InvestSMART Fundlater allows you to repay the fixed sum loan in 20 instalments.
  4. The fixed sum credit of $6,000 is available only for investments in Eligible Portfolios that you make in your PMA account.
  5. Eligible Portfolios are those investment portfolios which may be invested in using InvestSMART Fundlater and excludes other investment portfolios which may be available from InvestSMART. Currently the Eligible Portfolios are Conservative, Balanced, Growth and High Growth. Eligible Portfolios are updated on our website www.investsmart.com.au/fundlater from time to time.
  6. The details of a minimum repayment plan of $320 per month (including $20 monthly facility fee) for InvestSMART Fundlater are set out in the table below (Repayment Plan).
    DateInitial Investment and Instalment AmountsFacility Fee deductedFundlater Loan Balance
    Month 0$4,000$6,000
    Month 1$320-$20$5,700
    Month 2$320-$20$5,400
    Month 3$320-$20$5,100
    Month 4$320-$20$4,800
    Month 5$320-$20$4,500
    Month 6$320-$20$4,200
    Month 7$320-$20$3,900
    Month 8$320-$20$3,600
    Month 9$320-$20$3,300
    Month 10$320-$20$3,000
    Month 11$320-$20$2,700
    Month 12$320-$20$2,400
    Month 13$320-$20$2,100
    Month 14$320-$20$1,800
    Month 15$320-$20$1,500
    Month 16$320-$20$1,200
    Month 17$320-$20$900
    Month 18$320-$20$600
    Month 19$320-$20$300
    Month 20$320-$20$0
  7. You acknowledge and agree that you are in a satisfactory financial position to pay the instalments when they are due as set out in the Repayment Plan and will notify us immediately if these circumstances change.
  8. You acknowledge and agree that InvestSMART Fundlater falls under the exemption set out in section 6 of the National Credit Code which means that the National Consumer Credit Protection Act 2009 (CTH) does not apply to this Contract and InvestSMART Fundlater.
  9. InvestSMART Fundlater is available to natural persons of at least 18 years of age residing in Australia who have a valid and verifiable Australian residential and email address, mobile telephone number and hold an Australian bank account which can be direct debited or used for Bpay payments for the duration of the InvestSMART Fundlater Repayment Plan.
  10. Our decision to lend to you under this Contract is based on, amongst other things, our assessment of your credit worthiness and the information you provided us with in your application.
  11. Execution and entry into force of this Contract
    • By entering into this Contract, you expressly accept that the performance of this Contract starts immediately after your acceptance.
    • InvestSMART reserves the right to grant or refuse InvestSMART Fundlater at its sole discretion and for any reason, including on the basis of our assessment of your credit worthiness.
    • Without limiting to the above, if your application to invest in the InvestSMART PMA is rejected or fails, your application for InvestSMART Fundlater will be declined.
    • The Loan Amount made available under this Contract will be paid directly to your PMA account.
    • Details of the security interest we have over the Collateral can be noted on the register (Register established under the Personal Property Securities Act 2009 (Cth) (PPSA).
    • Before you proceed, please carefully consider the Fundlater terms and conditions and whether you will be able to pay the instalments when they are due.
  12. Repayments
    • You are required to repay the Loan Amount in accordance with the Repayment Plan as updated by InvestSMART from time to time.
    • Each repayment will be automatically debited from your nominated bank account or will require you to setup a recurring Bpay on the dates set out in the Repayment Plan.
    • You can increase the amount you repay at each instalment in your Repayment Plan to reduce your outstanding Fundlater Loan Balance earlier. You may do this by adjusting your recurring Bpay amount or by contacting our customer service team.
    • You can also make ad hoc payments to your Fundlater Account at any time to reduce your outstanding Fundlater Loan Balance earlier. You may do this by adjusting your recurring Bpay amount or by contacting our customer service team.
    • No penalty or other fees will be charged for paying off your outstanding Fundlater Loan Balance earlier. As soon as your outstanding Fundlater Loan Balance has been repaid no further monthly Facility Fees will be charged.
    • If you repay us more than you owe us, all excess funds will be invested in your Eligible Portfolio.
    • Repayments made by you under this Contract will be applied:
      1. first, to past instalments which are due but unpaid (if any); then to
      2. the current instalment being due; and then to
      3. future instalments in the date order that they fall due.
    • Missing a repayment could have adverse consequences, including compulsory redemption of your PMA account and/or reporting the default information to a Credit Reporting Body which may impact your ability to obtain, and the cost of, further credit.
  13. Security Interest
    • By entering into the Contract, you acknowledge and agree that this document creates a security interest in the Collateral under the (PPSA), and you consent to us effecting a registration on the Register in relation to any security interest contemplated by this document.
    • You must do all things requested by us to ensure that the security interest created under this document is enforceable, perfected and otherwise effective. You agree to enable us to exercise our rights in connection with the security interest and accept that you must pay all costs and expenses incurred by us in exercising our rights.
  14. Our liability
    • We shall not be responsible if you are unable to use InvestSMART Fundlater or should we be unable to carry out any of our obligations under this Contract due to:
      1. A. our compliance with applicable laws or regulation; or
        B. abnormal and unforeseeable circumstances beyond our reasonable control, the effects of which would have been unavoidable despite our efforts to the contrary.
  15. Communication
    • Any notice to be provided to you by us under this Contract will be exclusively sent by posting it on the InvestSMART website(s) (including the posting of information which is only accessed by logging into your PMA account), emailing it to the email address listed in your PMA account, calling you by telephone, or sending you a “text” / SMS message.
    • If we have reasonable grounds for believing that you have changed your email and/or postal address, for example because our correspondence is returned to us, we may instruct agents to trace you.
    • You can contact us online at www.investsmart.com.au by selecting ‘Contact us’ for telephone and email details.
  16. Termination
    • This Contract shall automatically terminate once the Fundlater Loan Balance is repaid in full.
    • We may terminate this Contract and InvestSMART Fundlater and demand immediate repayment of the Fundlater Loan Balance if:
      1. we find out that our decision to lend to you was based on inaccurate, misleading or incomplete information;
      2. you breach this contract;
      3. you break the law or you appear on any sanctions list that we monitor;
      4. we have a reasonable belief that you no longer have the ability to control your PMA account, including if you are deceased or of unsound mind;
      5. you have broken the terms of another contract with us;
      6. we reasonably believe you no longer reside in Australia; or
      7. if you close or attempt to close your PMA account.
    • To the extent permitted by applicable law, we may also ask you to pay any reasonable losses and costs that we incur as a result of you breaching this Contract.
    • You may terminate this Contract at any time by repaying the outstanding Fundlater Loan Balance due at that time within the conditions set out above.
    • In the event of Termination, we will redeem your investment at market value less brokerage costs and deduct any outstanding Fundlater Loan Balance at that time and return any remaining funds to you. If the market value of your portfolio is less than outstanding amounts you will not owe InvestSMART any money and your account will be closed.
  17. General
    • The laws of New South Wales apply to this Contract and any dispute shall be subject to the non-exclusive jurisdiction of the courts of New South Wales.
    • This Contract contains the whole agreement between us and you regarding InvestSMART Fundlater and supersedes and replaces any prior written or oral agreements, representations or understandings between us and you in relation to this agreement. Each party confirms that it has not entered into this Contract on the basis of any representation that is not expressly incorporated in this Contract.
    • You may not transfer or assign any rights or obligations you have under this Contract without InvestSMART’s prior written consent. InvestSMART may transfer or assign this Contract or any right or obligation under this Contract at any time.
  18. Privacy and Complaints
    • As an InvestSMART customer, or when you use our services or access our sites, you consent to our use of your personal data in accordance with our Privacy Statement.
    • We are committed to dealing with customer complaints fairly and resolving issues in accordance with our complaints handling processes and policies and relevant regulatory standards.
    • If you have a complaint about our services or believe your PMA account may be subject to an unauthorised transaction, account takeover or other type of fraudulent activity, you should contact us immediately.
    • InvestSMART Financial Services Pty Ltd is a member of the Australian Financial Complaints Authority (AFCA), member number 10433. If you are not satisfied with the handling of your complaint, please contact them on 1800 931 678 or complaints@afca.org.au.