How it Works
How it Works
How much can I borrow?
Every loan is different, just like every asset. We offer around 50% of the value of your approved and authenticated assets. Loan amounts from $20,000 to $250,000 can be settled quickly, with larger loans also available.
What can I use my loan for?
MyAssetPay deposits your loan to the nominated bank account so the funds can be used for any purpose. MyAssetPay also allows you to access your equity without having to sell, as well as leverage your assets.
What assets can be used as loan collateral?
MyAssetPay is able lend against personal & alternative assets where we have a trusted custodian appointed to manage & store those assets as collateral. Custodians include Wine, Bullion, Collectables, Watches & Art.
What are the loan charges?
MyAssetPay charges simple-interest per calendar month at interest rates of 1.5% to 3% per month. Our interest charges do not compound, making our loans attractive when compared to traditional lenders.
What if I can’t repay my loan in time?
MyAssetPay will endeavour to work with you to negotiate a plan so you can get your assets back including extending the due date for your loan. If the loan cannot be repaid we will simply sell your collateral.
How long does it take to get funding?
Once your approved assets are authenticated and secured with our custodian and all the paperwork is complete we are able to quickly settle your loan with a cash transfer to your bank account.
Where are my assets stored?
Your assets will be stored with an accredited and trusted asset storage specialist. MyAssetPay is able to offer loans once your assets are safely in the possession of our appointed custodian.
Are my assets safe?
Your assets will be stored with an accredited and trusted custodian. Each custodian offers the highest level of security and care for your specific asset type. For more information about our custodians please contact us.
How long is the term of my loan?
MyAssetPay loans are generally made for 3 to 6 month periods but 1 year loans are available. MyAssetPay may be offer an extension to you current loan due date if you pay the charges of the initial loan.
Where does MyAssetPay operate?
Currently MyAssetPay can provide loans in Victoria, Australia. We are already planning to offer loans against assets stored in other states in the near future. Please register your interest with us.
Why partner with MyAssetPay?
MyAssetPay was founded by collectors for collectors. Non-traditional assets are often the best-performing, and the most satisfying investments. Our mission is to bring liquidity to assets that banks don’t respect.
I am interested in becoming a custodian
MyAssetPay custodians are an integral part of our business. Our custodians offer the very highest levels of security, care, and discretion. To enquire about becoming a trusted custodian, please contact us.
