Personal
loans for
kicking goals

Low rates starting from 6.74% p.a. (comparison rate from
8.13% p.a.*) with money in your bank account in as little as
60 minutes.

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

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

$910.72

Example interest rate

6.74% p.a.

Comparison rate*

8.13% p.a.

Total charges

$1,857.28

Total repayments

$21,857.28

It won’t affect your credit score!

Check our rates and fees

Interest rate (p.a.)

6.74

% p.a.

up to

24.49

% p.a.

Comparison rates (p.a.)*

8.13

% p.a.

up to

25.87

% 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

$395

Loans up to $15,000

$495

Loans above $15,001


Loan term

3 to 7 years


Our fees

$10

Monthly fee

$0

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.

Personal Loan Eligibility



Looking to find out more about your personal loan eligibility? Whether it is for a new car, to pay for a wedding or you’re renovating your home, once you’ve decided you’d like to take out a personal loan, you’ll want to make sure you give yourself the best chance of getting your loan approved.  Although the requirements are not exactly the same across different banks and lenders, certain criteria are typically required to get loan approval.



How to calculate personal loan eligibility

In most cases, to get a personal loan in Australia you will need to be an Australian citizen or a permanent resident and over the age of 18. Some of the other common criteria that credit providers will consider before lending you money include your income and current employment status, your assets, credit history, and any outstanding debts, along with your regular expenses. Although most lenders will have a minimum income requirement, some credit providers now provide a low income personal loan for borrowers with lower minimum income or in some cases even no income. Due to the increased risk, the interest rates tend to be higher on these types of loans.

Lenders may also have different requirements if you are taking out a personal loan for self employed, as in these circumstances it may be more difficult to provide proof of income. Personal loan eligibility requirements will also differ between whether you are taking out a secured or unsecured loan. For example, if you are using an asset such as a car for security, this asset may also need to meet certain requirements. 

In the past, most loans required a lot of paperwork, but today there are many low doc personal loans available, and advances in technology have also reduced the number of documents you need to supply when applying for a loan. For example, MoneyMe uses proviso.com.au technology to get a snapshot of your bank statements online via your bank login details. This is done electronically within a fully-encrypted session so no staff at either proviso.com.au or MoneyMe will have access to your login details, and they will have read-only access to your finances. This data can be used to analyse your spending habits and saves you the time and hassle of submitting all your bank statements. If you prefer not to use our secure online checking system, you are welcome to email your bank statements to us, but the loan application process will obviously take a bit longer.



Can less-than-ideal credit affect personal loan eligibility?

It is much harder to get a personal loan without a good credit history, although low credit score personal loans are not impossible to obtain depending on your specific circumstances and the personal loan eligibility requirements of the lender you are borrowing from. If you are applying for a personal loan with MoneyMe, we don’t automatically decline loan applications if you have a mark on your credit file, although we do carry out a credit check and look at your individual circumstances. As we are a responsible lender, we will only approve loans online if we think you will be able to comfortably meet the repayments. There will be occasions where we will decline loans due to the applicant not having a stellar credit history, being in a debt agreement, or being bankrupt. You can always apply again later when you are in a better financial position. Or you could start off applying for small loans such as a 5,000 personal loan and then apply to borrow more money later when your credit score has improved.

If you are looking to take out a personal loan there are several things you can do to improve your personal loan eligibility. If your expenses are high, you can see if there are any areas where you can cut back spending or reduce your bills, for example taking out a cheaper mobile phone plan, and make sure you have no risky spending habits like gambling. You will also have more chance of securing a loan if you have been in your job for at least 6 months and are out of your probation period. In some cases, it may be helpful to reduce your credit card limit if you are not using it all, as your credit limits are perceived as potential debts. 

As the personal loan eligibility will differ between different lenders, it’s worth doing a personal loan comparison in Australia so you can find the best loan for you. MoneyMe’s personal loan eligibility lending criteria considers your income, expected living costs, and your MoneyMe loan rating, and you need to be at least 18 years of age and working in Australia. Our free online loan repayment calculator can be a useful tool to determine whether you will be eligible for a personal loan and how much you can afford to borrow. It will also give you an idea of your interest rate and any other fees and charges associated with your loan.



Apply now and get an outcome fast

If you think you meet our personal loan eligibility requirements, then you are ready to submit your loan application. The process is entirely online, and in most cases can be completed in a matter of minutes. And, with our smart technology, it won’t take long for you to find out if your same day loans have been successful. Once your loan is approved, and depending on who you have your bank account with, you could have your money in as little as an hour. It will take a bit longer if you apply outside business hours.  

MoneyMe offers low rate unsecured personal loans up to $50,000. If you’ve got any questions about MoneyMe’s personal loan eligibility requirements, our support team is available either over the phone, via email, or online 7 days a week. Our easy loans make the loan application process quick and straightforward! Contact us today and see how we can help you.

svg-image

How to apply

1 Check your rate and repayments

You can get a conditional loan offer in just minutes
without impacting your credit score!

2 Submit your application

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

3 Same-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

svg-image

Loans for small
and big moments

Won’t impact your credit score!
Won't impact your credit score!
Big purchase
Renovation
Holiday
Medical
Debt consolidation
Vehicle
Education
Other

What our customers say

Average rating: 4.6, based on 3400 reviews
Legal Seafood MoneyMe Financial Group Pty Ltd AUD 1300 090 949 media@moneyme.com.au xx
Level 7, 352 Hunter Street Sydney NSW AU 2000
4.6 review rating
Personal Loan Eligibility

Trusted by thousands of Australians

awards

Everything you
need in one app

Apply in minutes and manage your account
wherever and whenever you need it.

Choose a lender
with purpose

Our philosophy? Doing good while
doing
business.

Explore our impact

Ready to
kick your goals?

Personal Loans are running hot!

55 people in the last 24 hours have applied

Freestyle is running hot!

55 people in the last 24 hours have applied

Debt Consolidation is running hot!

55 people in the last 24 hours have applied