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Personal loans

Low rates starting from 6.74% p.a. (comparison rate from 8.13% p.a.*) with money in your bank account in minutes. Learn more.

Check your rate and repayments
without impacting your credit score

Personal loans

Low rates starting from 6.74% p.a. (comparison rate from 8.13% p.a.*) with money in your bank account in minutes. Learn more.

Check your rate and repayments without impacting your credit score

A different kind
of lender

Easy application,
fast approval

We help you fast track your
goals with a
simpler process.

Finance that works
for you,
not against you

Flexible options. No early
repayment fees.

For people and the

We care about our social and
environmental impact.

Everything you
need in one app

Apply in minutes and manage your account
wherever and whenever you need it.

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with purpose

Our philosophy? Doing good while

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What our customers say

Average rating: 4.6, based on 3400 reviews
Legal Seafood MoneyMe Financial Group Pty Ltd AUD 1300 090 949 xx
Level 7, 352 Hunter Street Sydney NSW AU 2000
4.6 review rating

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Personal Loans

Unlike specific-purpose loans such as home loans or car loans, personal loans can be utilised for a wide range of purposes. Whether you're planning a dream wedding, renovating your home, or consolidating existing debts, personal loans can be a flexible financing solution to meet your needs.

We offer our customers simple and straight forward low interest personal loans up to $50k. Submit your online loan application in just a few minutes; get a loan decision not long after that and, depending on your loan amount and who your bank account is with, you could receive your funds the same business day. There is no lengthy paperwork to fill out and there is usually no need for any phone calls. Use the MONEYME app to monitor and manage your personal loan, let us know of any changes to your circumstances, and even make extra repayments if you want to. It’s why we are one of Australia’s favourite online lenders. Simple, fast and responsible loans online for every customer. That’s MONEYME.

If you’re looking to apply for a personal loan or another credit product you may wonder how personal loans in Australia work, what types of loans are available, whether quick cash loans are really as fast as they appear to be, and what kind of information a responsible lender will be looking at. We’ll take you through the details to help you understand how to find the best type of credit product for your needs, compare your loan options, and submit a loan application for online approval. Ready to apply? Explore MONEYME’s range of credit products, including quick personal loans, debt consolidation loans, online car loans, our Freestyle credit card and more.

Frequently asked questions

When you borrow money from family or a friend, there’s usually a promise that you’ll pay them back. A personal loan from an official lender with an Australian Credit Licence works in much the same way, only the loan amount is usually a bit more, and the promise to repay the loan comes in the form of a loan contract. There are sometimes fees and charges applied to your loan such as an establishment fee for taking out the loan, ongoing account fees, and late payment fees. Personal loans from responsible credit providers like MONEYME are typically straight forward and this information will be clearly stated on your loan contract.

You’re also checked during your approval process based on past loans, debts, or services you have taken out which generate something called a credit score.

Personal loans come in all shapes and sizes, and an unsecured personal loan can be used for almost anything. You might want to take advantage of a great offer on a new boat or need money for an urgent repair or to cover moving costs. Other common personal loans include education, medical loans, holiday loans and renovation loans.

A personal loan can also be used to consolidate existing debt. Falling behind on loan, credit card or buy-now-pay-later repayments can happen unexpectedly, leading to financial stress. An unsecured personal loan can be used to consolidate multiple debts into a single, more manageable repayment, and often reduce overall interest costs.

Life events happen every day and you don’t always have access to extra cash when you need it. Whether you need a same day loan to seize an opportunity or an emergency cash loan to cover an unexpected expense, you could have money in your account in as little as 60 minutes with MONEYME.

Personal loans offer a range of benefits for individuals seeking finance. One of the most significant advantages of personal loans is their flexibility in how you can use the funds. Whether you need to cover medical bills, finance a vacation, or invest in home improvements, a personal loan gives you the freedom to allocate the funds where they're needed most.

Compared to high-interest credit cards or payday loans, personal loans often come with more competitive interest rates. This can result in significant savings over the life of the loan, especially for borrowers with strong credit histories. By securing a lower interest rate with a personal loan, you can potentially reduce the total amount you repay and accelerate your path to financial freedom.

Personal loans are repaid through regular instalment payments over a set period, making it easier to budget and plan for future expenses. This predictable repayment structure allows you to forecast your financial commitments and ensure you stay on track to meet your repayment obligations.

There is a distinct difference between secured and unsecured personal loans. As the name suggests, secured loans are tied to collateral, which serves as security for the lender in case the borrower defaults on the loan. Mortgages and car loans are common examples of secured loans.
These loans may come with lower interest rates and higher borrowing limits due to the reduced risk for the lender.

Unsecured personal loans typically offer more flexibility. Since they don’t require collateral, an unsecured personal loan can be used for almost any loan purpose. This includes medical procedures, travel, unexpected expenses, big ticket items and more. You can also opt for an unsecured personal loan when purchasing a car.

In today's digital age, applying for a personal loan has never been easier. Online lenders like MONEYME offer streamlined application processes that can be completed from the comfort of your own home. With minimal paperwork and quick approval times, you can access the funds you need without the hassle of traditional bank loans.

MONEYME's online platform allows you to submit your application, receive approval, and have funds transferred directly to your bank account in as little as 60 minutes. With flexible terms, competitive interest rates, and a convenient application process, we empower you to take control of your finances and pursue your dreams with confidence.

To be eligible for a personal loan in Australia, you typically need to be at least 18 years old and hold Australian citizenship or be a permanent resident. In addition to meeting the lender’s eligibility criteria, there are other factors that impact whether your application will be approved, and what interest rate and loan amount you will be offered.

Your personal credit history is often the biggest factor affecting the maximum personal loan amount you will have access to, and what personal loan rates will be offered, but there are other factors which are taken into account too. A lender will also look at your income and living expenses, and your existing debt, to assess whether you can afford to repay the loan.

To get a sense of how a loan would affect your current living situation, you can use our personal loan calculator to estimate what the fortnightly or monthly repayments would be.

When applying for a personal loan, you'll typically need to provide various documents to verify your identity, income, employment, and financial stability. Commonly required documents include government-issued identification, proof of income, employment verification, and bank statements.

With MONEYME, there’s no paperwork required. Our online application process takes just a few minutes and will ask you about your current employment, living expenses and other debts you have. We will then ask you for secure access to your online banking account. This access is offered as a read-only option. We cannot change or alter your bank account and we cannot view your banking password or pin. Your security is important to us, and we use SSL encryption to keep your details safe, just like your online banking app or website will.
Make sure you have your Australian driver’s licence or passport at hand when you apply, as we will need to verify your identity.

If you don’t have a credit history, it may be more difficult to apply for a loan, but it is not the only factor lenders look at when reviewing your application. At MONEYME, we look at several aspects to assess your ability to repay the loan, including your credit score, income, employment status, and existing debt.

While you can still apply for a loan without a credit history, it’s a good idea to check your credit score and understand the factors that will move it up or down. A higher credit score typically increases your chances of approval and may qualify you for more favourable loan terms, such as a lower interest rate, or a higher loan amount.

Your credit score is based on what’s listed on your credit file, including any current or previous credit accounts, your repayment behaviour for credit products and utility bills, and any previous credit enquiries (when you have applied for credit products). You can check your credit score for free in the MONEYME app.

For significant expenses like weddings, home improvements, medical procedures, or education, you may need more than just a short-term loan or credit card. A personal loan can help you access funds while also providing the flexibility needed to manage your finances effectively.

Compared to a credit card, which is a great option for everyday expenses, a personal loan typically comes with a lower interest rate. A personal loan is repaid in regular installments (often fortnightly or monthly) over a set loan period, which can make it easier to budget whilst repaying the loan.

Traditional lenders often require extensive paperwork, including bank statements and payslips, making the application process difficult and time-consuming. In contrast, MONEYME’s online application process includes zero paperwork. We leverage smart technology to offer fast approvals and fund transfers, providing our customers with a simple, seamless experience. Whether you're seeking a small personal loan or a larger amount, our streamlined approach means you can apply online without the hassle.

At MONEYME, we prioritise customer convenience by offering a fast and tech-friendly application and approval experience. Our range of loans and credit products provide flexible options tailored to your needs. Applying for a loan or a credit card takes just a few minutes online or on the MONEYME app. Once a loan application has been approved, we transfer the funds to your bank immediately. This means many of our customers receive their funds in as little as an hour after they have submitted their online application. 

How much you can borrow for a personal loan will depend on your current financial situation and your credit history. MONEYME offers personal loans up to $50,000. We look at a range of factors when assessing your loan application, to ensure we lend responsibly and offer you the best possible deal.   

Debt consolidation can be a great way to simplify your finances and manage cumbersome debts like high-interest credit cards or multiple buy-now-pay-later accounts. Managing multiple debts can be overwhelming, especially when each comes with its own interest rate and repayment schedule. Personal loans offer an effective solution for consolidating multiple debts into a single, manageable payment. By consolidating debts such as credit card balances, medical bills, or other loans, you can streamline your finances and potentially reduce your overall interest costs.

MONEYME offers low-interest personal loans for debt consolidation to help you get back in control. You can opt for making extra repayments or even paying out your personal loans in full, ahead of schedule. There are no early repayment or exit fees, so we won’t sting you for paying back your debt sooner.

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