The fee for Payment Protect is charged at the rate specified on the Borrower

Fees section of  Interest Rates and Fees.

The total loan amount is increased to cover this fee (ie the fee is capitalised) so that you, in effect, pay the fee down as part of your monthly loan repayments.

Interest on the part of the loan amount borrowed to cover the Payment Protect fee will accrue at the same annual interest rate as applies to the rest of your loan.

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