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Fridge Layby

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Example interest rate

9.20 %

Comparison rate*

10.58 %

Total charges


Total repayments


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. The interest rate for this product is variable and subject to change. Any calculations made by you using this calculator is intended as a guide only.

Fridge Layby

Thinking about buying a fridge layby? The good news is, if you need a new fridge, fridge layby is not the only financing option available to you. Although buying appliances on layby can be an affordable way to shop, you won’t be able to take your fridge home until you have fully paid it off. Luckily, other payment options such as MoneyMe’s Freestyle virtual credit card will allow you to take your fridge home today and pay the full amount back later.

Often, when you are buying a new fridge or freezer, it is because your old one is no longer working or doesn’t meet your needs. In cases like these, you’ll want to get a new fridge sooner rather than later. Even having to wait a few weeks can be a big inconvenience. And because a fridge is one of the electrical appliances you are likely to keep for years, you won’t necessarily want to buy the cheapest fridge on offer. Whether you are shopping for appliances online or in store, if you don’t have the money to pay for your fridge upfront, you’ll need to find a way of financing it. From layby to credit cards or personal loans, there are many ways of borrowing money in Australia – all you need to do is find one that works best for you.

How does the repayment work with payment options like Freestyle and layby?

If you buy your fridge or freezer on layby, you can pay for it in instalments, but you won’t be able to take the layby fridge home until the full price has been paid. Although layby agreements can be useful if you don’t want to pay using credit where you may have to pay a high interest rate, the downside is that you can’t start using the product straight away. And when you are shopping for something like a fridge that you use every day, it can be difficult to live without it, even if it is just for a few weeks.

Unlike layby, with other payment options such as a MoneyMe Freestyle account, you can take the product home straight away even if you don’t have the cash to pay for it all upfront. With the Freestyle virtual credit card, you can borrow up to $20,000 with 55 days interest-free terms on purchases. This is longer than the standard 42 days interest-free that is offered by many buy-now, pay-later services. If you use your Freestyle account to buy your fridge, you won’t need to pay any interest as long as you pay back the full amount within 55 days from when you purchased it. As well as having a long interest-free period, there are other benefits of using a Freestyle online credit card, too. Your card will be ready to use as soon as it is approved, you can use it as many times as you like up to your pre-approved limit, and you can get credit back at 1,400+ stores. 

How long does it take to purchase a fridge using Freestyle and layby?

Setting up a Freestyle Virtual credit account is quick and easy. To be eligible, you need to be at least 18 years old at the time of your application, currently employed, and a permanent Australian resident. If you meet this criteria, you can apply online in a matter of minutes. In most cases, if you apply during business hours, it won’t take very long to find out whether your application has been successful. If your account is approved, we’ll set you up with a virtual card that you can start shopping with straight away. Whether you are using Tap ‘n Pay in store or simply purchasing your fridge online, a Freestyle account makes the process quick and easy.   

On the other hand, if you purchase a fridge layby, you can start the buying process quickly, but you won’t be able to take it home until you have paid for it in full. How long that will take will depend on the layby terms that you are offered. If you need your new fridge as soon as possible, fridge layby may not be the best solution.

What is the best way to finance a fridge in Australia?

From fridge layby or Afterpay to an interest free credit card, a personal loan or a line of credit, there are many ways to finance a fridge in Australia. Everyone’s circumstances are different, so you’ll need to weigh up the pros and cons of the different appliance finance options to find the one that best suits you. If you need your fridge or freezer as soon as possible and don’t have the money available upfront, you’ll most likely want to find money lenders where you can get access to extra cash today. MoneyMe’s Freestyle virtual Mastercard® can be set up online without needing to fill out reams of paperwork, and you can get quick approval of up to $20,000 in minutes. 

Once the money has been added to your mobile wallet, you can start spending anywhere where Mastercard is accepted. And if there is money left over once you’ve paid for your fridge, you can also use it to make additional purchases up to your credit limit. If you need a new fridge fast, the Freestyle virtual Mastercard® could be just what you are looking for. Apply online today.

Our customers

Fridge Layby

Fast, fair and easy. Very happy customer. Happy to get another loan in the future from MONEYME.

Simple process, easy to follow application, quick response time and good support.

I was impressed with how easy and quick the application was. Very happy with their customer service, and the app is very convenient.


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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


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