EXPLANATION OF PAYMENT OPTIONS
Residents can choose to pay for their accommodation by a refundable deposit, a daily payment, or a combination of both. A refundable deposit is paid as a lump sum amount. A daily payment accrues daily and is paid periodically, for example monthly. A combination payment includes both a partial lump sum and daily payments. For more information about Maddocks Gardens Services please contact us on (03) 5150 3670 during standard business hours. For more information regarding residential aged care, you can contact MyAgedCare on 1800 200 422 to help estimate the fees and charges that may be applicable to you or visit their website. We recommend that you seek independent financial advice to determine which payment method will best suit your circumstances. MyAgedCare provides a list of government resources and services to assist you with this. Note: Neither the rooms nor part of the rooms are offered on an extra service basis
| Pricing per room type | as at January 2020 | ||||
| Maximum Occupancy | Maximum Refundable Accommodation Deposit (RAD) : | If > 550,000 is the RAD approved ? | Effective Maximum Permissable Interest Rate: | Maximum Daily Accommodation Payment (DAP) : | |
| 1. Single room + shared ensuite | 1 | $350,000.00 | N/A | 4.91% | $48.08 |
| 2. Shared room + shared ensuite | 2 | $310,000.00 | N/A | 4.91% | $41.70 |
| 3. Single room + private ensuite | 1 | $395,000.00 | N/A | 4.91% | $53.14 |
| Example Combination Payment | |||||
| Maximum Occupancy | Example RAD % : | Example RAD $ : | Example DAP % : | Example DAP $ : | |
| 1. Single room + shared ensuite | 1 | 50% | $175,000.00 | 50.00% | $23.54 |
| 2. Shared room + shared ensuite | 2 | 50% | $155,000.00 | 50.00% | $20.85 |
| 3. Single room + private ensuite | 1 | 50% | $197,000.00 | 50.00% | $26.57 |