Consolidate your debt easy today

An award-winning experience

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 OneDebt,
you can simplify your debts into one easy to manage, low
monthly repayment.

Awesome low
interest rates

We bet you'll be happy with our low rates.

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

*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.

*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.

Simplify your finances
in as little as 60 minutes

Download the app
  • 1

    Simple application with approvals within as little as 60 minutes

  • 2

    Money transferred money to your bank account in seconds to pay out your existing debts

  • 3

    Enjoy one low monthly repayment managed via our app

Download the app

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

Transparent and
simple pricing

Interest rate

9.20 %
to 25.20 %

Comparison rate*

10.58 %
to 26.58 %

Establishment fee
(Direct applications)

$395 for loans between $5,000 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 3 years

Maximum 5 years

Early exit fees


Simplify your repayments

Consolidate your debts and find out how much your repayments will be with our calculator.

Enter your loan details


Don’t know your score? Check for free

Estimated monthly repayments


Example interest rate

9.20% p.a.

Comparison rate*

10.58% p.a.

Total charges


Total repayments


It won’t affect your credit score!

Debt consolidation made easier

Combine and pay off all your existing loans with our debt consolidation loan and say goodbye to multiple monthly repayments and interest fees. We offer unsecured, low rate personal loans up to $50,000 that you can use for consolidating your debts into one, with a variable interest and flexible repayments of up to 5 years. Use it to pay for your credit cards, hospital bills, car loans – you name it. Manage your account with our app to make paying off debts a lot easier.

How to get a consolidation loan

You only have to be these things to be eligible to apply: 18+, employed and an Australian resident. If you meet these basic criteria, then you are all set to apply via our fully online application! It’s so fast and easy, you can even get your funds straight away or in as little as 60 minutes!

How to apply for a debt consolidation loan

You are a few taps and clicks away from consolidating your debts. To apply with us:

  1. Hit ‘Apply now’ on our website and start your online application.

  2. Provide us with a few of your personal information, bank account details and valid email address

  3. Submit your application. Once approved, your funds may hit your account within 60 minutes, or sometimes faster than that!

Fast and accurate digital lending

At times when we need your additional information, we might hit you up to verify your identity or ask for additional documents. And that’s probably the online time we’ll be calling you! 

Just like MoneyMe, our debt consolidation loan is powered by an advanced AI-based loan management platform that assesses thousands of data points in real-time, giving you a loan outcome that is fully transparent and tailored to your personal circumstances. We really live up to it when we say we’ll help you consolidate your debts faster.

Basics of debt consolidation

Debt consolidation is the process of combining all your debts into a single loan, which offers you better control of your monthly repayments. One way you can consolidate your debt is by getting a personal loan with a lower interest rate and use the funds to pay off all your existing debts with just a single repayment.

Streamline repayments – Getting a debt consolidation loan to pay off multiple debts reduces the number of payments and interest rates you deal with every month. And if you have only pay for one debt each month, the risk of missing a due date significantly decreases. This also gives you a clearer picture of when all of your debts will be paid off.

Pay off debts sooner – There are chances of acquiring a lower interest rate when consolidating your debts. You can leverage this by making extra repayments each month so you can pay off your debts earlier and save more on interest.

Improve credit score – Your credit score may take a temporary dip during an enquiry, but it can also improve in the long run so long as you make on-time repayments. Your payment history will reflect in your credit report, so it pays off to try to pay on time.

It could be anything from credit cards, education loans, auto loans to hospital bills and mortgages.

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.

Applying for a debt consolidation loan

You can get an unsecured personal loan from a bank, credit union or online lender to consolidate your credit card or other debts you may have. There are bank loans that provide competitive annual percentage rates (APRs) for good credit borrowers. As for online lenders, most of them allows you to get pre-approved for a loan which gives you a preview of the rate and loan amount that you may get once you apply.

The process for applying for a debt consolidation loan differs with each lender. If you opt to apply from an online lender, you can complete and submit your application online and get a pre-approval within minutes. Most online lenders offer same-day fund transfers once you have been approved.

Make a list of all your outstanding debts so you’ll get an idea of how much funds you need. Then, you can use an online loan calculator to determine the amount you should borrow. It is a free online tool where you can get an on-the-spot calculation of your expected monthly repayments, with comparison rates that help you understand the true and overall cost of the loan amount you have in mind. 

Debt consolidation fees and repayments

If your debt consolidation loan comes in a form of an unsecured personal loan, the fees and charges associated with it are the interest rate, establishment fee and monthly fee. On some occasions, there might be an early exit fee or a late payment fee in the event that you missed your payment or can’t make the minimum repayment upon your due date.

If you applied for an unsecured personal loan to consolidate your debts, then there is no need to back up your loan with collateral. On the other hand, if it’s a secured personal loan then you are required to put up an asset, which can be your car or your house.

You can repay your debt consolidation loan just as how you repay a personal loan. It could be monthly, fortnightly, or weekly depending on your agreement with your lender. Online lenders may often set up direct debits to your nominated bank account to automatically withdraw your loan repayments.

Why consolidate your debts?

It’s never easy to jog multiple repayments each month, not to mention that each of these debts has its own interest rate, terms and conditions. Combining your debt into a single loan can significantly help reduce the stress that you have to deal with every month. And with our debt consolidation loans, it’s more hassle-free and the rates are even better.

You get to access the funds you need for debt consolidation in as little as 60 minutes. Plus, the entire application happens online. No more reams of paperwork, unnecessary phone calls and several days of waiting just to get the funds you need. It’s the new, perfect way to borrow – and you can easily manage your account with our app.

We’ve made borrowing fair and secure

Our debt consolidation loan is not just about fast loan outcomes. We make sure that everything is fair and secure, too. To fast-track your application, we obtain your online bank details using a trusted and secure portal. It’s the same one that your bank uses. We get your bank statement history for the last 90 days in a form of a read-only document, and at no point do we store or have access to your banking details.

This way, we get an accurate picture of your banking activities without asking you to submit reams of paperwork. These snapshots, along with some of your personal and employment details, are all we need to come up with a loan decision tailored to your personal circumstances.

Ready to get

Debt consolidation loans up to $50,000

Consolidate your debts the faster, easier way

We offer consolidation loans of up to $50,000 designed to help you clean up your existing financial commitments and small debts, reduce your interest payments and get in front of your finances. Approvals are fast and hassle-free. Customers who apply for our personal loans or our Freestyle virtual credit card online during our business hours typically receive their approval within minutes.

As a wholly online lender, everything you need to apply, get approved and receive your new funds is available via our website. We probably won’t need to call you and we don’t need to confirm your income status with your employer. Enjoy competitive rates and get no early payout fees when you choose to consolidate your loans with us.

What is a consolidation loan?

A consolidation loan is a type of personal loan designed to help make existing credit more affordable and easier to repay. We offer customers competitive variable interest rates across all of our unsecured personal loans which means that combining your debt and paying it all out with a debt consolidation loan could help reduce your lending costs.

If you have multiple small debts like credit card debt, buy now and pay later debt, other personal loan balances and bills approaching, then you can apply online for a fast cash loan for the total cost of your existing debt commitments. Pay off everything you owe with your new personal loan funds and repay your loan balance slowly over time. Available loan terms from OneDebt start with short term finance options over 12 months up to larger debt consolidation loans of $50,000 repaid over 5 years (60 months).

How do consolidation loans work?

Debt consolidation loans are simple, straightforward and powerful finance products that can possibly help lever borrowers out of expensive debt. Debt relief loans have been around for a long time but borrowers who have been approved for this type of loan in the past have often not had very flexible lending terms and criteria. OneDebt is different. When you apply for consolidation loans with us, we do not repay your creditors on your behalf as other debt relief services may. Instead, we pay you the total loan amount that you’re looking for directly into your bank account. From there, you disperse your funds as you need to and close your individual accounts once your outstanding debt has been settled. It’s important to understand that if you are planning to apply for our consolidation loans, you must also plan to close out your accounts too once you receive your funds.

Like any kind of loan, consolidation loans are offered as lump-sum cash amounts that are repaid slowly over your nominated loan term. All of our personal loans are offered with variable interest rates which means that you know what your repayment amount will be every month and how many you need to make over the term of the loan. We don’t charge our customers early payout fees so if you are approved for our debt consolidation loans and you’re in a position to close out your loan balance before the term ends, then you can do so without paying any additional termination fees. 

Full details of your repayments, schedule, interest payments and loan term will be included in your loan contract. Approved applicants typically receive their loan contract within minutes of applying online with us. If you’re happy with the loan amount that we have offered you and you are ready to proceed, then you simply sign your contract online and our loans team processes your cash transfer immediately. This means that if you apply online during our business hours then you could have a same day cash loan in SydneyMelbourneBrisbanePerth or anywhere else in Australia the same day that you apply.

How do I apply for a consolidation loan?

To be eligible for any of our finance products, applicants must be at least 18 years of age, currently employed and a resident within Australia.

Applying online with OneDebt is quick and easy. Our online application form takes you less than 5 minutes to complete and submit. You’ll be asked to provide details of your income, your living expenses like your rent or mortgage repayments, your existing debt commitments and any other expenses you regularly pay.

Unlike other lenders, we don’t need any supporting documentation, instead offering customers a low doc process that requires two forms of identification only (driver’s licence, Medicare card, passport, etc.). Once you have submitted your application form, you’ll be asked to sign in to your online banking platform. This is a secure portal, and our loan assessment team does not receive access to your account or your login credentials. We receive a recent 90-day transaction statement in PDF read-only format directly from your online bank account. We use this statement to verify your application details like income, expenses and other debt commitments.

We will also access your credit file as part of our standard lending criteria. As a responsible money lender, we only offer credit to customers we believe can comfortably manage their new commitment. When applying for consolidation loans, remain as honest as possible and include all of your existing debt and financial commitments. Your credit file will list all debt currently under your name.

Apply online now for consolidation loans between $3,100 and $50,000 and you could have the money you’re looking for in your bank account within 24 hours of applying.

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