MoneyMe short-term loans have simple applications and quick funding although Establishment fees apply.

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MoneyMe is an Australian-based lending company that specialises various 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 6.25% p.a.. An establishment fee from $295 to $495 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.

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support.

⚠️ Warning about Borrowing

payday-warningDo 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

Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
MoneyMe Personal Loans

From 6.25% (fixed)
1 to 5 years
from $295 to $495
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
MoneyMe Freestyle The Virtual Credit Account

From 16.99% (variable)
from $0 to $149 based on credit limit and rating
You'll receive a variable rate from 16.99% p.a. based on your risk profile
Borrow between $1,000 and $20,000. Get up to 35 days interest free on purchases made using your Freestyle virtual credit account.
MoneyMe OneDebt Loan

From 6.25% (fixed)
1 to 5 years
$295 to $495
You’ll receive a fixed interest rate from 6.25% p.a. and 19.95% p.a.
Consolidate your existing debt into a single, unsecured loan of up to $50,000.

Compare up to 4 providers

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
MoneyMe Medium Loans
3 months to 2 years
Within the hour - depending on your institution
$295(establishment fee) + 6.25-19.95% p.a. interest
A flexible loan up to $5,000 that’s tailored to your credit profile. Apply in 5 mins.
MoneyMe Loans
1 to 2 months
Within the hour - depending on your institution
11-20% of loan amount (establishment fee) + 4% of loan amount each month
Borrow up to $2,000 with a decision on your loan in minutes - no Centrelink borrowers.

Compare up to 4 providers

How does a loan from MoneyMe work?

MoneyMe offer loans of between $500 and $50,000. Loan terms range between 1 to 2 months to up to 5 years for loans up to $50,000. It obtains an applicant's banking history from the banks using secure Bank Vision technology, meaning that they don’t have to supply the statements themselves. The application process is usually straightforward and repayments are structured around when a customer gets paid.

Features and benefits

  • Simple application. MoneyMe uses Bank Vision technology that securely obtains 90 days worth of their applicant's bank statements so they don’t have to supply them. Applications should only take around five minutes to complete.
  • Quick funding. Once approved for a loan, borrowers 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 they can receive instant loans. Card holders can shop online via Apple Pay and Google Pay, or in-store via Tap n Pay on their phone. If borrowers would prefer cash in their personal bank account, they can transfer funds from the card to their account. Transferring funds takes one-four hours to major banks, and up to one business day to smaller banks.
  • Direct debit. MoneyMe will direct debit repayments from the customer's nominated bank account on the agreed upon days, which usually coincide with the applicant's salary. It will send customers a reminder of when their repayments are due and will not charge direct debit fees.
  • Member area. If an existing customer chooses to apply with MoneyMe again, and they made all their repayments on time with their first loan, it will be easier to apply a second time around, and they may be approved for a higher loan amount. Customers will also be rewarded if they recommend MoneyMe to their friends.
  • Early repayments. MoneyMe will not charge customers or penalise them 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 someone's direct debit is dishonoured they will be charged a fee of $15, and their bank may also charge them 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 prospective applicants should consider their own financial needs and situation and whether they will be able to repay the loan. This is especially true with a short term loan as the interest rate tends to be higher than with other personal loans. These type of loans should not be considered as solutions to longer term financial problems, but rather as a short term cover until they next get paid. Depending on the intended purpose of the loan and the applicant's financial situation, they might also want to consider other loan options before applying.


MoneyMe is a short term lender, and as such, it has more flexible lending criteria than with other larger personal lenders. However, it’s important to keep in mind that as a responsible lender, MoneyMe will only approve loans to people who are in a position to be able to pay it back.

To be eligible for a loan, applicants will need to be over 18, an Australian resident, employed and have a "decent" credit history. While their loan amounts range from $500 and $50,000, it will only approve a loan amount that the applicant can comfortably repay. To determine this every customer's income will be taken into account, along with their expected living costs and, for returning borrowers, their MoneyMe trust rating.

How to apply

To apply for a loan with MoneyMe, prospective loan applicants can click "Go to site". From there they will need to fill out an online application form, which should take less than five minutes. They will need to provide the following:

  • Bank details to deposit their loan
  • Drivers licence or Medicare number to confirm their identity
  • Their mobile phone number for SMS security verification.

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12 Responses

    Default Gravatar
    DamasceneOctober 31, 2019

    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.

      Default Gravatar
      NikkiOctober 31, 2019

      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:

      • Bank details to deposit their loan
      • Drivers licence or Medicare number to confirm their identity
      • Their mobile phone number for SMS security verification.

      Hope this helps and happy shopping!


    Default Gravatar
    MuhammadApril 26, 2019

    how do i get loan

      Avatarfinder Customer Care
      JohnApril 26, 2019Staff

      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!


    Default Gravatar
    JamesOctober 30, 2018

    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?

      Avatarfinder Customer Care
      JohnOctober 30, 2018Staff

      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!


    Default Gravatar
    WalterFebruary 7, 2018

    are you able to apply for a loan while bankrupt?

      Default Gravatar
      JoelFebruary 17, 2018

      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.


    Default Gravatar
    NTHABELENGNovember 21, 2016


      Default Gravatar
      NancyDecember 11, 2017

      How do I reapply for a money me loan for 10,000

      Avatarfinder Customer Care
      MayDecember 12, 2017Staff

      Hi Nancy,

      Thank you for your inquiry.

      If you wish to reapply for a loan with MoneyMe, please visit their official website and submit your application from there. Meantime, in case you’d like to check with other lenders, you may refer to lenders offering loans up to $10,000. Best to review the eligibility requirements first before you apply. Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

      Hope this helps.


      Avatarfinder Customer Care
      DeeNovember 21, 2016Staff


      Thanks for reaching out.

      If you are interested to apply for MoneyMe Short Term Loan, you can submit your application online at the Money Me web site. Please be sure to read the eligibility criteria first as listed above before doing so.


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