Money3

Money3 Medium Personal Loan

The medium personal loan offered by Money3 is perfect for covering bills and unexpected costs until payday.

The Medium Personal Loan offered by Money3 allows people to borrow a minimum of $2000 and a maximum of $8000 to spend on whatever they need to, whether it be an unexpected emergency or a new fridge. This loan has no hidden fees or charges and does not charge you for additional repayments on the loan in order to offset interest.

This loan will also accept you if you are on government assistance or if you have bad credit as long as you meet the minimum requirements for acceptance of this loan.

How does a Medium personal loan from Money3 work?

A medium sized personal loan from Money3 works the same way as any other personal loan. Fill out an online application as to how much you need to borrow, check you meet the requirements for acceptance of the loan and you’ll quickly be on your way to borrowing a minimum of $2000 and a maximum of $8000. However, due to the size of this loan, an added layer of security is required, such as a non financed vehicle or another asset that you own outright.

Features of a loan from Money3

What are the features of the Medium Personal Loan by Money3?

  • Apply with bad credit. Money3 allow applicants to apply with their bad credit history and they will consider your application.
  • Apply on benefits. Money3 will consider your application if you are on Centrelink or receiving a disability pension.
  • No hidden fees. Money3 loans have no hidden costs or fees attached to their loans.
  • Flexible loan amounts. The Money3 personal loan has a minimum of $2000 and a maximum of $8000 which allows you to withdraw between these amounts.
  • Quick application process. The application process is done over the phone and a simple process to follow. It should take about 10 minutes, provided you have all of your personal information with you.

Fees and charges

Money3 have no hidden fees or charges attached to their loan amounts that they give out. This means that the fees will be clearly outlined to you before you need to sign the contract. Make sure you understand them before signing. For this medium loan, Money3 have a rate that is predetermined by the amount you want to borrow and your ability to make the repayments. They do not have a dishonour fee but charge a daily interest rate that will continue if you miss a payment. However, interest is debited from your account monthly, so it's not clogging up your bank statements with daily charges. You are also able to repay some or the whole amount of the ‘amount owing’ section at any time during the loan.

Are you eligible for a Money3 Medium Personal loan?

Curious as to whether or not you meet the eligibility criteria for this loan? All you need is:

  • To be an Australian citizen
  • Have an income of more than $400 per week or $,1600 a month, whether it be from Centrelink or from your employer
  • You must get your income paid into your account
  • You also must be employed

How you can apply

It’s easy to apply for a personal loan with Money3. Click on ‘Go To Site’ and follow the prompts. It’s a simple online application process that requires you to have:

  • A reason as to why you need the loan
  • Your personal details ready
  • A statement from your employer
  • Security for the loan, which requires paperwork for an asset that you own (like a non financed vehicle)

Short term lenders you can compare

Whilst we don't compare Money3 loans directly, use the table below to see how they compare against other loans.

Rates last updated February 23rd, 2018
Name Product Product Description Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $5,000
Swoosh Finance
A secured loan you can apply for in 10 minutes that gives you up to 12 months to repay. Note: Max loan amount $4,600. Fees and charges included in repayment.
$4,600
12-24 months
Next business day
$400 + 48% APR of borrowed amount
$244
Wallet Wizard Smart Loan
Apply for up to $5,000 as a convenient line of credit.
$5,000
Up to 2 years
24 hours
47.8% APR
$243.50
Credit24 Medium Term Loan (Good Credit)
A loan with a quick turnaround time and generous loan term. To be eligible, Centrelink must not be 50% or more of your income.
$6,500
12-24 months
Same day
$400 establishment fee + 4% monthly interest
$263.18
Nimble Medium Loan
Apply for up to $5,000 and get approved in 1 hour - conditions apply.
$5,000
Up to 2 years
1 hour - conditions apply*
Application fee of $400 + 47.62% APR
$262.75
ClearLoans Personal Loan
Apply for between $3,000 and $15,000 even if you have bad credit.
$15,000
60 months
Next business day
43% APR of borrowed amount
$239.92
Fair Go Finance Personal Loan (Under 5K)
Loans up to $5,000 are available even if you have bad credit. Note: You must earn more than $500 per week.
$5,000
3-12 months
Within 24 hours
29.90% p.a. + establishment fee of between $460 - $695 + $5 monthly fee
$256.97
Cash Converters Medium Personal Loan
Apply for up to $4,600 and receive approved funds in your account in two business days.
$4,600
Up to 24 months
24 - 48 hours
$400 (establishment fee; financed under loan) + 48% p.a. interest
$243.88

Compare up to 4 providers

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