Consolidate your debt easy today

Make life easy with
one low monthly repayment

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.

Rates that start lower than the major banks

Our rates start from 6.25% p.a. (comparison rate from 7.64% p.a.) and are tailored to your credit profile, meaning if you have a good credit history you’ll be rewarded with a better rate.

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. $495 establishment fee and $10 monthly fee applies. Comparison as of: 30/07/2021

Pay your debts out in
less than 60 minutes of application

Our approval times are fast, with money available in your bank account typically within 60 minutes to pay out your existing debt.


Simple application with approvals typically within 60 minutes


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


Enjoy one low monthly repayment managed via our app

Easily managed with
our app.

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

Ready to get started?

What is OneDebt by MoneyMe?

OneDebt is your solution to take control over a number of outstanding debts you may have. Your unsecured, low-rate personal loan with OneDebt 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, OneDebt is specifically designed for consolidating debts. With OneDebt, you get very competitive personal loan rates, flexible repayment terms and zero early repayment fees.

How to get a loan for debt consolidation

OneDebt, makes it easy to apply for a personal loan to consolidate your debts 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 fast online application via your mobile, get an outcome in minutes, and depending on who you bank with, your funds may hit your bank account same-day.

How to apply for a debt consolidation loan

It’s time to consolidate your debts into one with OneDebt’s 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 same-day once approved!

Fair and secure tech-driven lending solution

OneDebt is powered by MoneyMe’s 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 outcome in minutes.

No more days of waiting, long queues and tons of paperwork. Get your cash and cross all those debts off your list with OneDebt.

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 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 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 fixed 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.

Multiple applications of credit within a short period, such as debt consolidation loans, could negatively affect your credit score. But if the debt consolidation loan has lower monthly repayments, you may be able to pay it off more easily, and therefore may help improve your credit score over time.

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 OneDebt offers 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 OneDebt 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. Most of the online lenders like OneDebt need the applicants 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 in 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. OneDebt offers $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 fixed 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

OneDebt uses advanced technology to match and tailor your individual circumstances and provides 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 OneDebt 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 have access to our other products such as our Freestyle virtual Mastercard®.

Fast cash with competitive loan rates

OneDebt offers very competitive personal 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. OneDebt 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 with 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.

What our customers say


Sep 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.


Sep 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.


Sep 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 2,646 reviews

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Debt consolidation made easier and better

What is debt consolidation?

Debt consolidation is a common financial method that works by combining all existing debts into a single, low rate loan. You may find a debt consolidation loan helpful if you’re struggling with credit card debts or having difficulty in managing multiple loans and repayments, as each of them comes with its own interest rate, establishment fee and other associated costs.

OneDebt offers unsecured, low rate personal loans that you may use for a variety of purposes, and one of them is debt consolidation. Sometimes, multiple payments such as credit card debts, student loans, hospital bills and mortgage might come rushing on you all at once, and it’s nice to know there’s a faster, easier way to pay them off.

With OneDebt, you can get your much-needed funds same-day minus all the hassle and paperwork. Just like when you’re applying for quick cash loans and same day loans with your trusted online lender, OneDebt is built with an entirely online process that lets you seamlessly apply via your mobile phone and get a tailored decision for quick loans in minutes. Forget about all the long queues, days of waiting and tons of documents that consumers experience with traditional banks.

What are the benefits of debt consolidation?

Consolidating your existing debts gives you just one regular monthly repayments. As a result, you get better control of your monthly finances, all while potentially incurring a lower interest rate and fees.

Plus, if you’re getting an unsecured personal loan to pay of your debts you are given a fixed loan term or a definite end-date for your repayments which makes it easier for you to work towards your goal.

Determine if debt consolidation is the best option for you

Rolling your debts into one can help reduce your fees and interest in the long run. But before jumping ahead to find a prospective lender that could provide the fast cash loans you need, it’s best to know if debt consolidation is a good idea for your current circumstance.

  • Make sure you have researched various debt consolidation options

  • List down all your existing debts and take note of any special considerations on repayments

  • Make sure you are getting an unsecured personal loan with a lower interest rate

  • Use an online loan calculator to see if the monthly repayments will fit in your expenses for the next five years

Know your ideal rate

Before applying for a personal loan to consolidate your debts, make sure you have an idea of your preferred loan amount and loan duration. To determine them, you may use an online loan calculator so you’ll get a clearer picture of how your monthly repayments would look like. A loan calculator is a free online tool usually found in your prospective lender’s website where you can select a loan amount (how much?) and a loan term (for how long?). You can play with these two variables until you come up with your desired rate and the monthly repayment amount that suits your finances.

With a personal loan calculator, you’ll get an on-the-spot computation of your expected monthly repayment, as well as the total charges and total

repayments. It may also indicate the interest rate and comparison rate of the loan, which are equally important when you’re doing your research for the best personal loan for you.

But what is the difference between interest rate and comparison rate? The interest rate is the rate at which you are charged for borrowing the money, while the comparison rate is designed so you can easily compare the true cost of a fixed rate loan. The comparison rate is calculated by combining the interest rate of the loan along with the other fees and charges that come with the loan. This may include the establishment fee, monthly account fees, and early repayment fees.

Unsecured personal loans for debt consolidation

An unsecured personal loan from OneDebt works by offering you a single lump-sum loan to help you pay off all your existing loans and debts. If you are juggling multiple debts and repayments in a month, the debt consolidation loan from OneDebt can help lower the interest rate, monthly repayments, and the overall cost of your short term loans or same day loans over time.

With OneDebt, you can avoid the hassle of dealing with multiple repayments – whether it’s paying for your line of credit, holiday loans,

wedding loans or even renovation loans – so you can focus on paying off your debt faster.

We take into account various factors to determine how much you can borrow and the interest rate and fees that go with your online cash loans. These include your income, credit history, debt obligations and living expenses. This way, you’ll get a loan amount and terms that you can comfortably repay.

How long do debt consolidation loans take to process?

OneDebt is powered by a proprietary AI-based loan management platform that assesses thousands of social and financial touchpoints real-time, allowing you to get an outcome within minutes. The application process is fast, user-friendly and fully online, and you get to complete and submit your online application form via your desktop or mobile.

If you are applying for OneDebt’s debt consolidation loan during business hours, depending on who you bank with, your funds could be transferred immediately to your account once approved. Otherwise, you’ll get your

money the next business day.

The go-to solution for your debt consolidation needs is finally here: OneDebt makes loan application and repayments simple, fast and hassle-free.

Ready to get started?