Zagga Rates of Default
Loan payments
A loan will be considered ‘in default’ or a ‘default event’ to have occurred if loan payments have been missed for over 30 days where there is no approved departure from normal payments and there is no expectation of payment, or if other loan conditions have not been met.
Loans in default attract an additional 5%p.a. interest to the agreed Term Loan Agreement which is also compounded monthly.
Zagga Rate of default
| Risk Grade | Current Financial Year | Last Financial Year | Life of Zagga |
|---|---|---|---|
|
A |
0% |
20.06%(1) |
0 |
|
B |
65.6%(4) |
19.03%(2) |
8.99%(6) |
|
C |
56.9%(5) |
11.02%(3) |
13.51%(18) |
|
D |
0 |
0 |
3.75%(1) |
|
E |
0 |
0 |
0 |
|
F |
0 |
0 |
0 |
Notes:
1. Numbers within parenthesis is the actual number of loans defaults
2. All loan percentage are based on gross loan amounts prior to any recovery
*as at 13/11/2024
Principal lost after recovery
| Risk Grade | Current Financial Year | Last Financial Year | Life of Zagga |
|---|---|---|---|
|
A |
0 |
0 |
0 |
|
B |
0 |
0 |
0 |
|
C |
0 |
0(3) |
0(13) |
|
D |
0 |
0 |
0(1) |
|
E |
0 |
0 |
0 |
|
F |
0 |
0 |
0 |
Notes:
1. Actual number of defaults that have gone through recovery (3 are still ongoing)
2. In addition to principal recovery, Zagga also recovered interest, penalty interest and costs
3. For further information, please contact info@zagga.co.nz
*as at 13/11/2024
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