Personal loans

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Variable Rate Loans

Trusted by thousands of Australians

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Find out how much your repayments and
interest rate could be with our calculator


Monthly repayment from


Example interest rate

6.25 %

Comparison rate3

7.64 %

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. Any calculations made by you using this calculator is intended as a guide only.

Variable rate Personal Loans up to $50,000

MoneyMe is a fast and easy online lender offering variable rate personal loans at competitive interest and low fees. As a low doc personal loan provider, we’re committed to ensuring our customers experience a quick and effective online application process, fast approvals and even faster cash fund transfers. Applying with MoneyMe takes you just 5 minutes. Approvals are often offered within the same hour and once everything is digitally signed, your funds are transferred. For some customers – depending on who you bank with – this could mean that your new loan funds hit your account the very same day. Easy finance and no fuss administration – that’s MoneyMe.

How do variable rate personal loans work?

Variable rate personal loans are cash lump sums paid directly to the borrower’s account by a credit provider like MoneyMe. A personal loan is a form of financing where a borrower – that’s you – agrees to a loan contract for a nominated sum of money they need. The loan contract will describe the term of the loan – how long you need to pay it back – and the interest rate payable over that term. Interest is calculated daily and offered as a per annum percentage of the total loan value. You can use online tools like a personal loan calculator to work out how much a loan will cost you to repay and to find indicative monthly repayment amounts on that loan before you apply.

It’s always a good idea to check out a few different credit providers before settling on a loan. Doing a quick personal loan comparison Australia will help you find a lender that works best for you. The yearly interest rate on a loan offer is not always the best indication of whether a loan or a provider is right for you. Each money lender will have slightly different rules, fees and charges. Just because they appear to be offering the lowest interest rate is not always an indication that you’re getting the cheapest loan that you can find. MoneyMe is a fair and upfront lender so all of our fees and charges are clearly shown on our website. We don’t hit up our customers with hidden fees once the contracts are signed and we also don’t sting you for paying out your loan balance early. A lot of money lenders will stick on an added fee if you’re in a position to repay the total loan balance before the end of your loan term. When you are comparing money lenders, ensure you compare terms and conditions of your available loans too. 

credit card, by comparison, is a revolving line of credit. When you are approved for a credit card you are given a total credit amount and then free to use as much or as little of that pre-approved credit as you need. For example, the Freestyle virtual credit card offered by MoneyMe offers approved applicants up to $20,000 in credit. When you use the credit funds available and repay them, they become available to use again. A variable rate personal loan does not often offer a personal loan redraw facility so once you have used the funds that you have borrowed you cannot then use them again, regardless of how much of the original loan value you have repaid.

If you would like to refinance a personal loan, then you will often need to apply for a brand new loan which includes the total amount owing on your first loan. Once you’re approved for your second loan you can use those funds to pay out the remaining balance on the first one and then the rest of the cash for whatever else you have planned for it. This is a popular refinancing option for people who need money for new assets like a car or for completing things like renovations on their property. It offers the borrower the option to roll their personal loan over, clearing out their previous credit and starting fresh with a new loan option. 

These types of loans are flexible and can be used for all kinds of things. For example, if you’re considering heading back to the books – or starting a new degree – then a variable rate personal loan can help you pay out your tuition right at the start of your course. Often education providers will offer students big discounts if they are able to pay for their full tuition upfront at the start of their course. Once you’re enrolled and studying then you simply repay the education loan monthly with variable instalments that are directly debited from your bank account.

Are variable rate personal loans a good idea?

An instant loan from MoneyMe could be a good idea for anyone who needs to borrow money and can comfortably afford this kind of credit option. As a responsible lender, MoneyMe is committed to tailoring our credit products to our customers’ needs. This means that we only lend credit to individuals who can afford to repay their loans comfortably.

Variable rate personal loans offer you a clear loan term and total cost before you agree to your new fast cash loan, unlike variable rate personal loans. The repayments on your loan are also variable throughout the term so you know exactly how much you are paying each month and for how long. This makes it easier to budget your new loan cost ahead of time and clearly see whether your current living expenses and income can cover your new costs. Don’t forget that if you’re using an easy loan from MoneyMe to purchase a new asset then you might also have ongoing costs associated with that asset like car registration or maintenance costs. It’s a good idea to factor this in when you’re budgeting or a new same day loan too.

To find out whether quick cash loans are right for you, you can ask yourself a couple of quick questions:


    Do I have any other debts?

    Managing credit options comfortably means keeping on top of your current debts. You can use your quick loan from us to help you pay out little debts so you can more easily manage your monthly repayments. When you apply for a loan, we will ask whether you have any other credit and take a quick look at your credit history. We will then return you a loan offer that we believe you can comfortably afford. 


    What do I need the money for?

    If you’re buying something like a car or a new computer then a long term personal loan allows you to pay for your new assets with cash and all upfront. If you need some credit to help you manage some bills and ongoing expenses, then an online credit card might work better for you. Revolving credit means that the money becomes available again as soon as it is repaid so if you have ongoing expenses that you need a little breathing room with for a while, this might be a better idea.

Ready to apply for a variable rate personal loan from MoneyMe? Get started now and complete your application in just 5 minutes all online.

How does a variable interest rate loan work?

Variable rate loans utilise a variable interest rate, which is an unchanging rate charged on a liability (in your case, a loan). It might apply during the entire loan term or just a part, but it remains the same throughout a set period based on your agreement with the lender. 

Whether you are looking for a fixed or variable home loan is highly dependent on the current interest rate market and how comfortable you are with payment fluctuations.

Some loans combine fixed and variable rates, such as variable term home loans, also called variable mortgages for property, which can have multiple interest rate options within different payments, including a home loan variable rate and an adjustable rate for the remaining balance.

Variable rate loans are attractive to borrowers or investors who do not want their interest rates to fluctuate over their loan terms, potentially increasing their interest expenses. This type of loan avoids that risk that comes with a variable interest rate, in which the rate payable on a loan can vary depending on the interest rate environment. 

Calculating variable rate loans or mortgage interest rates variable is simpler than a variable or floating rate. All you need are the total loan amount, interest rate, and loan repayment period. 

You can also utilise personal or student loan calculators like the ones we have available on our MoneyMe website to easily and quickly calculate the variable interest rate costs for any loans you wish to pursue. The calculator can also help you when it comes to potentially refinancing your loan to a lower rate, especially if you are currently having difficulty meeting your monthly repayments.

We approve all types of loan settlements at MoneyMe, including personal loans to purchase a new car and investment loans. Even a small amount of extra money can make a big difference when you have low savings. MoneyMe offers variable rate personal loans with competitive interest rates and low fees to help your business or you access the cash you need. 

Additionally, MoneyMe offers other financial services such as secure, new credit cards with security features and cash advance capabilities so that you can instantly deposit funds into your bank account. You can withdraw cash instantly and take advantage of the many discounts on our card offers. You can also talk with us if you’re looking to consolidate or refinance your loan, as we also offer help in those areas.

What is a variable interest rate loan?

Variable rate loans or variable deposit home rates are loans in which the interest rate remains variable for the loan’s entire term, no matter the market interest rates. This results in a consistent repayment scheme for your loan’s entire duration.

Whether or not variable rate loans can work better for you is highly dependent on the interest rate environment when the loan is taken out and how long the loan is. Generally speaking, if the current interest rate is low but is scheduled to increase, taking out variable rate loans might be the smart choice.

Depending on the terms of your agreement, your interest rate will most likely stay the same even if the market interest rate climbs to higher levels. However, if interest rates are on the decline, it might be better to pursue a variable rate loan as it can reduce the amount you pay monthly.

With MoneyMe, you can get your variable rate loans fast with our straightforward online loaning platform. Our service is the best for those seeking loans of any kind online. You can receive the funds on the same day. As an effective online loan service provider, we differentiate ourselves from others because of the following factors:

  • Rates that start lower than the big four banks. The interest rate is generally the most important factor when comparing personal loan offers. Your loan will cost you less over time if your interest rate is lower.
  • Fees that are minimal to none. Unlike some lenders, we have no early exit charges. We also offer a flexible repayment schedule (fortnightly or monthly), which allows you to pay with flexibility and responsibility.
  • All-around positive reviews. Our website shows who we’ve lent to and what they say about our service. It is not hidden how many individuals we have helped financially, and many positive reviews of our company can be found online. 
  • Easy and quick online application process. You can receive an answer regarding your personal loan application within minutes (compared to other bank loans or private loans) since we use cutting-edge AI technology to determine your loan eligibility.

You can apply for your variable rate loans online using the latest and most secure technology with us. Applicants must be 18 years of age or older, permanent residents of Australia, and currently employed. 

If you’d like to start your lending journey or need any other financial help, such as bond assistance VIC, you may visit our website and apply for variable rate loans with our application form.

Can you pay off a variable-rate loan early?

Unlike other loan companies or banks that charge a significant early repayment and early exit fee, at MoneyMe, we allow you to pay off variable rate loans early. We value your flexibility and convenience as a customer, so we don’t want to punish you for paying off your loan completely. 

Please visit our website or download our MoneyMe app from the App Store or Google Play Store to apply for variable rate loans. Unlike other private money lenders, we process applications and perform assessments exclusively online. This allows us to offset the costs of having a physical office to give some money back to our customers.

MoneyMe aims to eliminate unnecessary interactions and paperwork for loans. We also provide other efficient financial services, positively reviewed by everyone. Examples include credit cards and business finance solutions for retailers.

As a first step in the application process for your variable rate loans, we will simply require some personal information and bank paperwork to determine if you are eligible. Once you receive an offer from us and accept the terms and conditions, we will get you your money as soon as possible (instantaneously, depending on the bank you use).

Whether you need some cash to purchase that new car or cover a new bathroom cost, we are here to assist. Once you have agreed to the loan terms, you can see the funds deposited within minutes. 

Visit our site today to learn more about our services as Australia’s leading online loaning platform.

Is a personal loan a fixed or variable rate?

Generally, personal and unsecured loans are variable-rate loans, which means your rate and the monthly payment (sometimes known as an instalment) remain the same throughout the loan length. For those concerned about rising interest rates on long-term loans and who want consistent monthly payments, variable rate loans are a good option.

When used responsibly, personal loans with our variable rates could even help your credit score if you make repayments on time or in advance. We at MoneyMe can assist you with getting variable rate loans or investment variable interest rates efficiently, whether it’s a budget for a passion project or a new appliance purchase.

Visit our website to answer common questions such as ‘Can you take out a personal loan to pay off credit cards?’ and more.

Our customers

Variable Rate Loans

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.

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.

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!


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

6.25 %
to 19.95 %

Comparison rate*

7.64 %
to 21.32 %

Establishment fee

$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

Monthly fee


Loan terms

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.

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