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On the Spot Loans

Personal loans for

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


Monthly repayment from


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.

On the Spot Loans

Looking for on the spot loans? Whether you are facing unexpected bills or need to make urgent house repairs, emergencies can be unpredictable and when they happen, you need to act fast. Or even if you want to book a holiday or buy a new car, sometimes you just don’t want to wait. Whatever the reason you need extra money, it’s reassuring to know that online fast cash loans may only be minutes away.

Today, there are many banks and other loan companies offering fast loans and last minute loans with same day approval that can be used for a range of purposes, and in many cases, the funds can be in your account on the same day you apply.

How do I apply for on the spot loans?

One of the fastest ways to apply for on the spot loans is online. Applying for personal loans over the internet is very convenient and can be done at a time and place that suits you. It also makes it easy to compare the different online loans available across different lenders. You’ll often find that most of the information you’ll need to access when applying for the loan will be all available online too, so it can be a very quick process. No travel time, long queues or mountains of paperwork to search for.

For online on the spot loans, not only is the application process quick and straightforward, but the loan assessment process is often fast too. MoneyMe uses a proprietary AI-based loan management platform that assesses thousands of data points real-time, giving you a quick, fair and accurate loan decision in a matter of minutes.

Once your loan has been approved, the funds will often be transferred almost immediately. In some cases, depending on your bank, you can have the money in your account in a matter of minutes. The application process and eligibility criteria will vary between lenders so you may need to shop around to find the loan that is best for you. 

To apply for on the spot loans at MoneyMe, you need to be at least 18 years old, currently employed and an Australian resident or an Australian citizen. If you meet these criteria, you can apply online and it usually only takes just a few minutes. Using the latest in financial technology, you can give us permission to have read-only access to the last 90 days of your bank statements which can save you from needing to collate documents and paperwork. Using this secure technology means we can provide you with a quick outcome. Once you’ve submitted your loan application, unless it is particularly complex, we should be able to give you an answer on the same business day, or in some cases in just a few minutes. Once you’ve accepted the terms of the loan, we’ll transfer the money into your account. The time it takes for you to receive the money in your account will depend on your bank, but once the funds arrive, you can already start spending.

How are the interest rates calculated?

Interest rates for on the spot loans will vary between banks and lenders, and can also depend on your financial circumstances and credit history. As a general rule, higher-risk credit customers will attract higher rates of interest. When you are comparing interest rates between different lenders, make sure you look at the comparison rates as well. Unlike the interest rate, the comparison rate will also take into account other costs such as fees that are associated with the loan, giving you a better indication of the true cost of the loan. You’ll also need to check the fine print to see how the comparison rate has been calculated, as the fees and charges that are included can vary between lenders. 

At MoneyMe, rather than having one personal loan interest rate, your interest rate will depend on your individual situation. We make an assessment using the financial details you provide in your loan application. Although your credit history will be a main factor that we take into consideration, we will also look at other details such as your income, expenses and existing debt when determining your personal loan rates and borrowing capacity. Our express loans have a variable interest rate so you’ll know exactly what your repayments will be each month before you agree to the loan. A variable interest rate makes budgeting easier, and protects you from any increases in the official interest rate. We take pride in our responsible lending practices, which is why we like to be fully transparent with our personal loan rates. You’ll know about any fees upfront and won’t be left wondering about our cost structure. MoneyMe’s interest rates are some of the most competitive rates in Australia. Compare them with the rates of the big 4 banks and you can see for yourself.

Will I be credit checked for on the spot loans?

Your credit history can give your lender an indication of how likely you’ll be to be able to make your repayments on time, which is why it is usually a consideration when determining whether you are eligible for online loans. At MoneyMe, we will look at your credit history before approving your loan but you won’t be automatically rejected if you have a mark on your credit file. To give us a more accurate risk assessment, we’ll also look at your employment history, your income, any other financial obligations, and your living expenses. If your loan is not approved, you can apply again if your circumstances change. MoneyMe also has an in-house credit rating system for our customers, so if you build up a good credit history with us, you’ll be eligible to potentially borrow more money at a lower rate in the future. 

Another alternative if you are thinking about on the spot loans is to apply for a line of credit. The Freestyle virtual Mastercard® works in a similar way to a credit card and offers a line of credit for up to $20,000. Packed with features including up to 55 days interest free payment plans on purchases and credit back at more than 1,400 participating stores, setting up a Freestyle account can be a quick and flexible way to get access to extra funds. The money can be used for Tap n Pay in-store as well as for online purchases, and you can easily transfer the money to family members or to your own bank account. If you are a business wanting to offer a buy now pay later option, take a look at our merchant payment solution which can be a great way to increase sales. MoneyMe+ is a business payment solution that allows you customers to purchase goods now and pay for them later. Contact MoneyMe today to get more information.

If you have any questions about applying for MoneyMe quick loans or about any of our other finance solutions, our friendly support team is available to help via online chat or via phone at 1300 388 564. Our extended operation hours are 8am to 9pm (AEST) on Monday to Friday and 9am to 9pm (AEST) on the weekends.

Our customers

On the Spot Loans

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.


Review Stars Out of 2,701 reviews

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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


Ready to get

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

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