MONEYME is an Australian-based lending company that specialises in personal loans. It offers fast, safe and simple credit solutions, with a focus on minimal paperwork. For loans up to $50,000, interest rates are upwards of 9.19% p.a.. An establishment fee from $295 to $495 applies depending on the loan amount, although there are no transaction fees. Repayments are structured around your payday, and you can repay your loan early without penalty.
⚠️ Warning about Borrowing
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Compare loans from MONEYME
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How does a loan from MONEYME work?
MONEYME offer loans of between $5,000 and $50,000. Loan terms range between 3 years up to 5 years for loans up to $50,000. It obtains your banking history using secure Bank Vision technology, meaning that you don’t have to supply the statements yourself. The application process is usually straightforward and repayments are structured around when you get paid.
Features and benefits
- Simple application. MONEYME uses Bank Vision technology that securely obtains 90 days worth of your bank statements so you don’t have to supply them. Applications should only take around five minutes to complete.
- Quick funding. Once approved for a loan, you'll have instant access to funds.
- Virtual card. Borrowers for MONEYME lines of credit up to $10,000 are offered a MONEYME Freestyle Virtual Credit Account through which you can receive instant loans. Cardholders can shop online via Apple Pay and Google Pay, or in-store via Tap n Pay on your phone. If you would prefer cash in your personal bank account, you can transfer funds from the card to your account. Transferring funds takes one to four hours to major banks, and up to one business day to smaller banks.
- Direct debit. MONEYME will direct debit repayments from your nominated bank account on the agreed upon days, which usually coincide with the payment of your salary. It will send you a reminder of when the repayments are due and will not charge direct debit fees.
- Member area. If you're an existing customer and choose to apply with MONEYME again, and you've made all your repayments on time with your first loan, it will be easier to apply a second time around. You may be approved for a higher loan amount. You'll also be rewarded if you recommend MONEYME to their friends.
- Early repayments. MONEYME will not charge or penalise you for making early repayments.
Fees and charges
For MONEYME Personal loans
- Establishment fee is $295 for loan amount from $0 to $5,000, $395 for loan amount $5,001 to $15,000 and $495 for loan amount $15,001 to $50,000.
- Dishonour fee: $15 This fee is charged each time a direct debit is dishonoured or your commitment to make a loan repayment is not met.
- Overdue account fee: $15.00 This fee is payable on the third day of each month that your account is in arrears.
For MONEYME Freestyle
- Annual fee from $0 to $149 Based on your credit limit and rating.
- Monthly account fee of $5 Only applies if outstanding balance is over $20.
- If a direct debit is dishonoured, a fee of $15 applies, and your bank may also charge a separate fee.
- Overdue account fee of $15 This fee is payable on the third day of each month that your account is in arrears.
Things to consider
Before applying for any loan, you should consider your own financial needs and situation and whether you will be able to repay the loan.
Eligibility
Must:
- Have an income of more than $25,000 per year or $3,000 per month in wages
- Be 18-65 years old
- Have no serious marks in your credit score, such as bankruptcy, default, judgements, or serious overdue accounts
- Have no previous applications declined in the last year
- Not be on government or Centrelink benefits
- Be employed
Good to be:
- Between 24-35 years old
- Employed in a role for over a year
How to apply
To apply for a loan with MONEYME, you can click "Go to site". From there you will need to fill out an online application form, which should take less than five minutes. You'll need to provide the following:
- Bank details to deposit your loan
- Driver's licence or Medicare number to confirm your identity
- Your mobile phone number for SMS security verification
Do you really need a loan today?*
I am currently bankrupt and have been full-time employed for 9 mths now can I still get a loan with money me
Hi Brian,
We are a comparison site, so we’re not able to give any advice about your chances of gaining loan approval. You can contact Money Me directly to discuss your option. You may also be eligible for a no interest loan with Good Shep: https://goodshep.org.au/services/loans/
Hope this helps!
I would like to get a loan to do good shopping and for real and for me and my family. We are going back home today.
Hi Damascene,
Thanks for your comment and I hope you are doing well.
To apply for a loan with MoneyMe, simply head to their official website. From there they will need to fill out an online application form, which should take less than five minutes. Before you proceed, please ensure you meet the eligibility criteria above and can provide the needed information below:
Hope this helps and happy shopping!
Best,
Nikki
how do i get loan
Hi Muhammad,
Thank you for reaching out to Finder.
If you’d like to apply for a loan with MoneyMe you can go to the MoneyMe website. From there you will need to fill out an online application form, which should take less than five minutes. You will need to provide the following:
Bank details to deposit your loan
Drivers licence or Medicare number to confirm your identity
Your mobile phone number for SMS security verification.
Hope this helps!
Cheers,
Reggie
Hi, I would like to know if I could get a personal loan. I have a default of $7688 on my credit file that I wish to pay off along with some other small bills. Im employed ( over 16 months ) and earn $80000 pa. I was looking for a loan of $15000. Is this possible with a default?
Hi James,
Thank you for your question.
Generally, it may be difficult to get approved for a personal loan if you have a poor credit score. In most cases, lenders require good to excellent credit but do not lose hope. There are quite a few that will accept applications from people with bad credit, however, this can cost higher interest rates and poorer terms. You may refer to our list of personal loans for bad credit. You may need to prove your capability in paying back the loan since you have a default record. Hope this helps!
Cheers,
Reggie
are you able to apply for a loan while bankrupt?
Hi Walter,
Thanks for leaving a question on Finder.
Yes, you are able to get a loan if you are a discharged bankrupt or even if you are bankrupt at the moment. You will be more limited in terms of the lenders you have to choose from, and the fees and rates will also be higher on bankrupt loans. You may also be required to attach an asset as security or apply with a guarantor. You may press the link above to compare your option. On the page, you will see a table with a list of lenders who consider bankrupt or discharged bankrupt applicants. You may click the name of those with checkmarks to read further details such as minimum and maximum loan amount, fees, loan term, turnaround time as well as their pros and cons.
As a friendly reminder, please ensure that you read the Product Disclosure Statement or Terms & Conditions before making a decision and consider whether it is right for you.
Cheers,
Joel