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Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. Any calculations made by you using this calculator is intended as a guide only.
A finance loan is cash you receive from a credit provider, such as MoneyMe, offered to you over a specific loan term and at a set interest rate. Your finance loan contract will detail how long you have to repay your new personal loan as well as the total cost of the loan at the end of the term. This total cost includes the interest charged on your remaining loan amount each year so you can quickly and easily check how competitive your loan offer really is.
Loan repayments are set at the time of your loan approval. We organise a quick and easy repayment schedule and direct debit your repayment amount directly from your bank account, usually monthly. If you’re in a position to repay your variable rate personal loan ahead of schedule, then that’s great! At MoneyMe we don’t punish our customers for getting on top of their finances, so you don’t pay early exit fees for easy loans from us. In fact, for every successfully repaid loan from MoneyMe, your internal credit rating with us increases. This means that when you apply in the future for any of our other credit products, we can offer you even greater rates and lower fees, rewarding you for being a trustworthy and reliable credit customer.
That’s not the only thing we do differently at MoneyMe. We are a wholly online lender dedicated to ensuring that we can offer our customers quick loans. And we really mean quick. When you apply online at MoneyMe, your application for any of our products, including our instant credit card approval, is completed in a matter of minutes. Approvals are usually received just a few minutes afterwards and for a new finance loan, you could even have your cash in your account within the hour. So, when we say same day loans, we really mean it.
Applying online with MoneyMe is quick and easy. We offer customers low doc personal loans which means we don’t need extensive copies of documents at the time of application. We probably won’t even need to call you, or we won’t harass your employer for details of your work history. Instead, we use the power of the internet to get accurate, read-only access to your everyday banking account and savings to verify your application details. If everything matches up, then your approval is instantly received, and your new fast cash is transferred as soon as you digitally sign your loan contract. No, you don’t need to run around trying to find a printer and a scanner. Your loan contract is available to read and sign online.
To be eligible for a finance loan from MoneyMe you will need to be at least 18 years old, currently employed a permanent resident in Australia. Don’t sweat if your credit file isn’t exactly as good as it could be. We understand that there are a lot of factors which affect a person’s credit history and recent changes to what’s included in your credit file means that we don’t just see the bad stuff. Now, your personal loan broker from MoneyMe can also see what attempts you have made to repair your credit file most recently. This will include payments you have made and the status of any defaults on your credit file. For example, you may be waiting for a default to be removed but you have already repaid the amount in full. Now, we can see that and assess your application to borrow money in context, building a complete and fairer picture of your finances.
A finance loan like a personal loan to buy shares or a car loan is offered at the total cost over the specified loan term you have requested. Your loan contract will detail the total amount borrowed (the cash amount that you receive into your bank account), the interest rate that your loan is offered at as well as any other fees like loan establishment fees. The interest charged on your instant loan from MoneyMe is charged monthly. Each repayment then contains part of the principal amount (the loaned amount) plus part of the interest on that principal. These repayments are variable with all calculations made by us at the time we offer you your loan contract.
Over the course of your loan, unexpected events may happen and at MoneyMe we understand that life doesn’t always go smoothly. Most customers ask things like ‘can you put personal loan repayments on hold?’ If you are experiencing difficulty meeting your loan repayments, then just in touch with a friendly customer service representative either by phone or online via our website. We’ll negotiate with you to find the best solution for your circumstances. It’s always best to be completely upfront and honest with your credit provider. This way you get what you need like express loans when you need them, and we know that you’re a reliable and trustworthy credit customer.
You can apply for quick cash loans from MoneyMe for a whole range of applications with personal loan amounts available for up to $50,000. Refinancing is one of the most popular uses for a finance loan. Refinancing is a great way to clear up old and smaller debts, saving you unnecessary interest and tidying up your finances. You can apply for a finance loan to cover old credit card debt and pay off some bills and breathe easier knowing you have a single repayment amount at a set interest rate instead.
Small loans from MoneyMe can also be great for new tenants moving to a new home. Get the funds you need to cover your new rental bond payment, your upfront rent and your moving costs and repay it slowly and gently over time rather than hollowing out your savings. Alternatively, you may find a more flexible credit option like our Freestyle virtual credit card, available for balances of up to $20,000, the better finance option for you. The Freestyle account works just like any other credit card except that it doesn’t live in your wallet. Instead, the Freestyle credit card lives in your smartphone and can be used in-store or for shopping online. You can also transfer cash from your Freestyle account and send it directly to your own bank account or friends and family. There are no set repayments, so you remain in control of how you manage your credit funds.
Ready to apply for a new finance loan from MoneyMe? Apply online today in just a few minutes and you could have your new funds within the hour.
NicoleSep 15, 2021
Unbelievably easy finance when I needed it the most. A huge thank you from me and as a returning customer I know that I am getting a fair deal.
ChrisSep 10, 2021
After 5 to 10 minutes of filling up my application, my loan has been approved and the money was in my bank account. I had a great experience that is why I'm giving them a 5-star rating. Excellent service. Thank you very much, MoneyMe.
VictoriaSep 2, 2021
Amazing through and through. MoneyMe helped me out when no one else would and they have been a delight to deal with. I 100% recommend their service. They're an absolute joy to deal with!
Out of 2,701 reviews
p.a. to 19.95 %
p.a. to 21.32 %
$295 for loans between $2,100 and $5,000
$395 for loans between $5,001 and $15,000
$495 for loans between $15,001 and $50,000
Minimum 1 year
Maximum 5 years
Early exit fees
*This comparison rate is based on an unsecured 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. A $495 establishment fee and $10 monthly fee applies.