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Please note: MoneyMe currently does not offer this MoneyMe Loan. You can compare other MoneyMe personal loans here.
For a loan between $500 and $2,000, MoneyMe offers an online application that takes about three minutes to complete, and you can expect access to your approved funds within a few hours, or within the hour if you bank with Commonwealth Bank. Find out how much the loan will cost and if you’re eligible below.
$2,000
Maximum loan amount
Within the hour
Turnaround time
depending on your institution
1 to 2 months
Term of loan
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Product Name | MoneyMe Loans |
---|---|
Minimum loan amount | $500 |
Maximum loan amount | $2,000 |
Arrears Fee | $25 |
Loan term | 1 to 2 months |
Turnaround time | Within the hour - depending on your institution |
Costs | 11-20% of loan amount (establishment fee) + 4% of loan amount each month |
Requirements | You must be 18+, an Australian resident and employed with a decent credit history. |
Available to Centrelink Borrowers? | No |
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. Find out more here: https://www.finder.com.au/coronavirus-financial-help
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:
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.
To submit an online application you'll need your personal and banking details. While these details can usually be verified online, MoneyMe occasionally needs to contact you or your payroll to confirm some information.
If you apply within business hours and are approved, you can receive your loan amount within the hour if you bank with Commonwealth Bank (CBA). If you don't bank with CBA you will receive your funds in a few hours. If you apply outside business hours and don't bank with CBA you will receive your loan the next day, if approved. Keep in mind that MoneyMe conducts credit checks and your score will affect your rate.
What you will pay depends on how much you borrow, how long your repayment term is and also what MoneyMe determines your rating to be. While your rating is largely determined by your credit history, you can improve your rating by repaying your loan on time.
You can avoid the above fees by getting in touch with MoneyMe, and you’re also able to reschedule repayments as long as you give 24 hours notice.
Click ‘Go to Site’ if you want to submit your application – it should take less than five minutes to fill out. Just ensure you can say ‘yes’ to the following:
To apply, you’ll need a few things on hand: