A personal loan of up to $35,000 with a tailored interest rate.
Use your great credit history to secure a lower interest rate with DirectMoney. You can apply for an unsecured personal loan from $5,000 and pay it off at your personalised interest rate.
Things to consider
|Product Name||DirectMoney Unsecured Personal Loan|
|Interest Rate (p.a.)||From 8.5% (fixed)|
|Comparison Rate (p.a.)||9.36%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$35,000|
A personal loan from DirectMoney is unsecured, so can be used to for a number of purposes including financing a car or consolidating debt. Loan amounts of between $5,000 and $35,000 are available.
Comparison rates start at 9.36% p.a.. The actual rate you receive will depend on your credit history. You cannot have any negative listings on your credit file to apply for a DirectMoney personal loan.
Features of a DirectMoney personal loan
- Loan purpose. As it's unsecured, you can take out a personal loan from DirectMoney to finance a range of purposes.
- Loan amount. You’re able to borrow between $5,000 and $35,000.
- Loan terms. Repayments can be made according to 3 or 5 years terms.
- Making repayments. You’ll need to set up a monthly direct debit to cover your repayments.
- Early repayments. Want to pay out your loan early? You can do so without worrying about an early repayment fee.
- Interest rate. DirectMoney calculates your interest rate in a different way to the majority of other Australian personal loan providers. Available interest rates start from 8.5% p.a., but this may not be the rate you are approved for. Depending on your credit history, you may be approved for a rate anywhere up to DirectMoney offers three interest rate bands; silver, gold and platinum. An interest rate of 8.5% p.a. is offered to those in the platinum band, with rates working on a sliding scale from there.
- Fees. This loan comes with a few fees to be aware of. While there are no account-keeping or early repayment fees, there is an establishment fee of $595. There is also a late payment fee of $25.
How to apply for a DirectMoney personal loan
If you’d like to apply for a personal loan from DirectMoney, you can click "Go to Site" to get the application process started. Ensure you meet the below eligibility criteria before you apply.
You’ll need to:
- Be at least 18 years old
- Be a permanent Australian resident or citizen
- Be employed and earning a gross income over $30,000 p.a.
- Not have had any credit problems in the last seven years
- Earn a minimum gross annual income of $30,000
The application process should take about ten minutes to complete. You’ll need to undergo an online credit check, bank record analysis and have your identity verified.