your debt

Simplify multiple debts into one easy-to-manage repayment.

Won’t impact your credit score!
Won't impact your credit score!

Streamline your debt 

Take control of your finances with our debt consolidation loan.

Borrow from $5,000
up to $50,000

Pay off your
existing debts

Access additional
funds if needed

One simple
monthly repayment

Make life easy with
one low monthly

Forget juggling multiple debts and not knowing when or how much you’re going to be charged next. With debt consolidation, you can simplify your debts into one easy to manage, low monthly repayment.

Estimate your repayments

Find out how much your repayments and interest rate could be with our calculator.

Enter your loan details


Don’t know your score? Check for free

Estimated monthly repayments


Example interest rate

6.74% p.a.

Comparison rate*

8.13% p.a.

Total charges


Total repayments


It won’t affect your credit score!

Check our rates and fees

Interest rate (p.a.)


% p.a.

up to


% p.a.

Comparison rates (p.a.)*


% p.a.

up to


% p.a.
*This comparison rate is based on an unsecured variable rate personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. $495 establishment fee and $10 monthly fee applies.

Establishment fee


Loans up to $15,000


Loans above $15,001

Loan term

3 to 5 years

Our fees


Monthly fee


Early exit fees

*This comparison rate is based on an unsecured variable rate personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. $495 establishment fee and $10 monthly fee applies.

How to apply

1Calculate existing debt

Find out how much you need to repay your existing
debt. You can apply for additional funds if needed.

2Check your rate

See your interest rate and repayments in less than
5 minutes. It won’t impact your credit score!

3Submit your application

Review your loan offer, accept it, and you’ll get an
approval outcome typically within 60 minutes.

4Same-day transfer

Once approved, we’ll transfer the money to your bank
account immediately, even on weekends.

Must be Australian citizen, New Zealand citizen or permanent resident

Earn more than $30,000 p.a. from employment

Must at least be 18 years old

Bank-grade security

‘Read only' access to accounts

256-bit data encryption


Easily managed
with your app

Manage your one repayment, view
your balance and even get access to
our other products and special offers.

Download the app

Choose a lender
with purpose

Our philosophy? Doing good while

Explore our impact
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Paying off multiple debts made easy

Our debt consolidation loan is your solution to take control over a number of outstanding debts you may have. Our unsecured, low-rate personal loan can help you consolidate and manage your debt in one place with a repayment period that suits you from 1 to 5 years. While a MoneyMe personal loan can be used to buy a car, travel overseas, renovate a house or even pay for bills, our debt consolidation loan helps you pay off all your existing debts sooner. Get it with lower interest rates, flexible repayment terms and zero early exit fees.

How to get a loan for debt consolidation

Applying for our debt consolidation loan is easy as everything is paperless. If you’re employed, 18 years or older, and a resident in Australia then you are all set to apply. Complete your easy online application via your mobile, get fast approvals fast, and depending on who you bank with, your money can be available in your account within 60 minutes.

How to apply for a debt consolidation loan

Move your higher-interest debt to a cheaper interest rate with our easy, hassle-free online process.

  1. Visit our website, hit the 'Apply' button and enter your desired loan amount, repayment duration and your personal information.

  2. Complete your application by providing your bank account details and valid email address.

  3. Submit your application and wait for a few minutes for your loan decision.

  4. Money in your account within 60 minutes once approved!

Fair and secure tech-driven solution

Our debt consolidation loan is powered by a proprietary AI-based loan management platform that assesses thousands of social and financial data points in real-time, giving you a fast, fair and accurate debt consolidation loan outcome in minutes.

No more days of waiting, long queues and tons of paperwork. Get your money and cross all those debts off your list in no time using our mobile app.

Debt consolidation FAQs

Debt consolidation is a common refinancing process where you take out one loan to pay off some or all your existing debts. For instance, instead of paying four different debts with four different monthly repayments, account fees, and interest rates, you can combine all of them into one and yield a lower interest rate through a debt consolidation loan.

With OneDebt, you can consolidate any of your unsecured debts. These could be things like personal loans and credit cards, as well as car loans, student loans, medical loans and more.

Taking out a debt consolidation loan can help you with the following:

Manage payments easier. Having only one payment to think about helps you better manage your budget rather than handling multiple debt repayments each month.

Save on interests and other charges. Consolidating your debts into a simple, low rate personal loan could potentially help you save money since you will not be dealing with multiple fees, such as interest, monthly fees and other charges.

Set a definite loan term. Unsecured personal loans have a variable term. So if you are opting for an unsecured personal loan to consolidate your debts, you can have a goal to work towards paying off your debt with a definite end date.

To consolidate your debts, you can take out an unsecured personal loan with online lenders such as OneDebt or opt for refinancing where you take out a new mortgage to repay your existing loans.

Getting a debt consolidation loan

Simplified repayment process. From managing many payments to many creditors, debt consolidation makes it easier by allowing you to make only one payment to one creditor each month. This method can significantly reduce any worries and simplify your repayments.

Same-day funds. Online lenders like us offer a same-day unsecured personal loan to help you catch up and consolidate your debts sooner.

Get in control of your finances. Consolidating your personal loans and credit card debts with us can get you back on track and on top of your finances which may help you focus on other financial goals, such as homeownership, retirement and more.

To qualify for a debt consolidation loan, you’ll have to meet your prospective lender’s minimum requirements. Our debt consolidation loan applicants need to be at least 18 years old, a citizen or a resident in Australia and has a regular income, but the requirements may vary from one lender to another.

You may apply with online lenders or any major banks in Australia. Most of them offer unsecured personal loans that can be used for the purpose of debt consolidation.

Before applying for a loan to consolidate your debts, make sure to check a few things to make the process go smoothly.

Use a loan calculator. This is so you’ll get an idea of the loan amount and duration suitable for your personal circumstance. By using a loan calculator, you’ll have a better picture of how much you are likely to pay weekly, fortnightly or monthly including the interest rate, establishment fees and other charges.

Comparison rate vs interest rate. When you are doing your homework to determine what personal loan is best for you to consolidate your debt, reviewing the comparison rate versus the interest rate is important. Whilst the interest rate is the rate at which you are charged for borrowing the money, the comparison rate is designed so you can easily compare the true cost of one loan versus another. The comparison rate is calculated by combining the interest rate of the loan with other fees, charges and costs associated with the loan such as the establishment fees, monthly account fees, and early exit fees.

Check your credit history. Your prospective lender may review your credit history as part of their loan assessment, so make sure that your credit history is accurate. Reviewing your credit history is also a way to discover any potential setbacks prior to applying for a loan to consolidate your debts.

Prepare your requirements. Depending on the loan provider, they may ask you to submit supporting documents such as employment details, a copy of your bank statements and some details about your living expenses. Make sure to check with your lender and prepare these documents beforehand.

If you take out a debt consolidation loan, you may increase your overall debt should you fail to make your repayments. You may also be required to pay for incurred fees and charges for paying off your existing loans earlier or later.

Fees, charges and repayments

Yes, consolidating your debts by paying them off with one low rate personal loan could potentially save you money. This holds true provided that the personal loan you are offered has a lower interest rate and fees, as compared to paying multiple fees across multiple debts.

The associated fees depend on the finance option you choose for your debt consolidation. If you’re opting for an unsecured personal loan, your repayments will likely include an interest rate, monthly service fee and establishment fee. We offer a $0 early exit fee, but some lenders charge early termination fees and late payment fees, so it really pays to check the fees that come with your debt consolidation loan before applying.

Your loan provider may give you the option to pay for your debt consolidation loan on a weekly, fortnightly or monthly basis, and you can choose to have the payments directly debited to your account. The payment amount you will make on your loan will differ depending on your loan provider. If it is a variable rate personal loan, you may choose to increase your repayment amount or make additional payments to finish off your loan earlier than your original loan term.

If you’re having difficulty making payments on time, the best thing to do is to contact your lender and explain your situation. Some lenders may allow a grace period where they waive extra charges such as late fees and increased interest rates.

If your loan provider is open for negotiations, be sure to inform them that you will not be able to make payments a few weeks or days before your due date. Otherwise, your one late payment for your debt consolidation loan may result in an increased monthly payment amount on your succeeding repayments.

Flexible low-rate personal loan
for debt consolidation

We use advanced technology to match and tailor your individual circumstances and provide you with a unique loan rate and loan terms. We understand that in order to get on with life, you will be needing a financial solution that allows you to maximise your borrowing power all while minimising your total borrowing costs – and we can give you exactly just that.

We offer unsecured personal loans for debt consolidation to make managing your budget simpler and easier. They’re low-rate, flexible and much easier to pay off to help improve your financial situation.

Each time you take out a loan and repay us on time, you can improve your loan rating and may be able to borrow at an even lower cost next time as well as have access to our other products such as our Freestyle virtual Mastercard®.

Fast cash with competitive loan rates

We offer very competitive loan rates that may be used by a borrower who wishes to combine their debt repayments into one, or simply take advantage of a better interest rate than their current personal loan or credit card.

And when we say fast cash, we live by it. Our debt consolidation loan application process is powered by an advanced loan management platform that allows us to provide quick and accurate loan decisions same-day. To fast-track your application even more, we ditch the hassle of tons of paperwork. Instead, we ask for your online bank information to have a better look at your bank history for the last 90 days. We are permitted read-only access to these documents so rest assured that your data is safe and secure, and no one from our team has access to your login information.

We understand that each borrower has unique needs–some only require small loans to help them out until the next payday, while others need up to $50,000 to cover a big purchase. Another option is our Freestyle virtual Mastercard®, which is ideal if you’re looking for great flexibility and a revolving line of credit to cover small, everyday expenses. Regardless of your choice, we make sure that you can enjoy lower rates, reasonable repayment terms, and a quick application process with us.

Debt consolidation made easier

Simplify your finances with a Debt Consolidation Loan

Get approved for a debt consolidation loan online today. We offer unsecured personal loans of between $3,100 and $50,000 online and in a matter of minutes. Simplify and streamline your finances by exchanging multiple creditors for our low fees and charges. Our application process is a low doc, fast and intuitive online form.

We don’t need your payslips or to confirm your employment with your boss. It really does take less than 5 minutes to apply online for debt consolidation loan. Merging all of your existing debt into a single, manageable repayment is a popular way of refinancing. It helps to reduce costs and tidy up your credit file.

What is Debt Consolidation

Debt consolidation is the process by which a borrower combines or consolidates all of their existing debts across multiple lenders into one, single debt with manageable monthly repayments, low fees and low rates. We offer debt consolidation loans for up to $50,000. These are unsecured personal loans that take you less than 5 minutes to apply for online.

If you’re interested in consolidating your outstanding debts, then you will need to apply for either a personal loan amount for the total cost of your debt or our Freestyle virtual Mastercard® offering up to $20,000. 

Personal loans are paid in cash directly into your bank account. Once the money has cleared (usually within 24 hours of signing your online loan contract) you will need to disperse those funds to your individual creditors yourself. Some money lenders who offer a debt consolidation product pay out your creditors on your behalf. OneDebt doesn’t work that way.

Your debt consolidation loan is then repaid over your nominated loan term with us. Existing loan terms range from 12 months to 5 years (60 months). We offered variable interest rates which means that you know what your repayment amount will be, how many repayments you need to make and the total cost of your loan with us before you sign your contract. If you’re not sure how much you can comfortably afford to borrow then use our online tools like a loan repayment calculator. This will give you an indicative repayment amount, interest rate and total loan cost before you even apply. Use this calculator to quickly budget likely repayments and how they’ll fit with your existing cash flow. 

Remember that when using our online calculator, you are consolidating your debt so when it comes to budgeting for a new repayment amount, remove the payments that you will no longer be making from your budget. Instead of paying multiple creditors every month, you’ll be paying just OneDebt instead.

Is it smart to consolidate debt?

Consolidating your existing debt can be a way to tidy up your finances, reduce your interest payments and get in front of your debt. If you have multiple small debts like medical expenses, other bills and expenses, an existing personal loan, credit cards and buy now and pay later commitments, often you also pay a range of different fees and interest rates.

While your existing financial status may feel manageable, and you may be meeting your payment obligations without any problems, you could still benefit from checking whether debt consolidation is something that might work for you. OneDebt offers competitive rates and fees across all of our credit products. By applying for a fast cash loan online with us for the total amount you owe, you could simplify your finances and possibly save money over the long term.

How to get a loan for debt consolidation?

To be eligible to apply for any of our credit products, you must be at least 18 years of age, currently employed and a permanent resident in Australia. Your application form takes you less than 5 minutes to complete and submit. You’ll be asked some general finance questions like your current income, your rent or mortgage payments, your existing living expenses as well as any other debts or bills that you have.

As standard practice, we will check your credit file too. Please be as honest as possible when listing your existing debts. Every credit product you have will be listed on your credit report. Don’t worry if your credit file looks a bit full or if your history isn’t as good as you would like it to be. We undertake a thorough assessment of every application that we receive which includes putting your credit history in perspective. It’s just one part of the puzzle, after all.

Approvals are typically offered within minutes of submitting your application during our business hours. Your loan offer will show you the total approved loan amount, what your interest rate is, what your repayment amount is and how often your repayments are direct debited. If you’re happy with the loan offer and you are ready to proceed with your debt consolidation loan then simply sign your contract online. Once received by our team, we process the cash transfer of your loan amount immediately. Depending on who you bank with, this could mean that your new funds are in your bank account the same day that you applied for them.

We service all of Australia so you can apply for same day loans in Sydney, Melbourne, Brisbane, Perth and everywhere else all online and all in minutes.

To find out how much you could be approved for on a new debt consolidation loan from OneDebt, apply online now.

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