MoneyMe Medium Loans

You can get a medium loan from $2,100 to $5,000 with MoneyMe. Applications are short, approvals are quick but the loan is expensive.

MoneyMe is an online lender offering medium sized loans. Depending on the loan type and your financial solution, you can opt to repay the loan over a period up to 2 years. The application process is short and paperless, and if approved, the loan amount can be available within an hour. MoneyMe prioritises responsible lending and a simple cost structure. If you repay your MoneyMe loan on time and build up your MoneyMe loan rating, you could qualify for lower fees and rates the next time you apply for a loan.


Maximum loan amount

Within the hour

Turnaround time

depending on your institution

3 months to 2 years

Term of loan

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Product NameMoneyMe Medium Loans
Min Loan Amount$2,100
Max. Loan Amount$5,000
Loan term3 months to 2 years
Turnaround timeWithin the hour - depending on your institution
Costs$295(establishment fee) + 6.25-19.95% p.a. interest
RequirementsYou must be employed, not receiving Centrelink and have 90 days of bank statements
Application Fee$295

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.

How does a MoneyMe loan work?

While MoneyMe loan applications are straightforward, but loan applicants will only be approved for an amount and terms they can afford. Medium loan amounts are between $2,100 and $5,000.

Once an application is submitted, MoneyMe verifies the applicant's bank statements through its partner, Money Buddy. They'll then be given a MoneyMe loan rating of between A1 and A5 as well as a tailored repayment plan. Depending on the loan amount they're offered, they can repay over a period of up to 2 years.

Costs vary according to a borrower's unique profile and the loan amount. Direct debits can be linked to an applicant's pay cycle to facilitate repayment. They will be charged for late payments, failed direct debits and extending their loan term.

What features come with a MoneyMe loan?

If someone applies for a loan from MoneyMe they'll have access to the following features and benefits:

  • Responsible lending. MoneyMe will only approve a loan that customers can afford as per ASIC's requirements. Terms are calculated based on an individual's financial situation and repayments will be structured around their pay cycle.
  • Short application and approval. The application process is simple and fully online. An applicant's bank statements are verified electronically and if approved, their loan amount is deposited within one hour.
  • Flexible loan amounts. Medium loan amounts vary between $2,100 and $5,000. Repayment terms, fees and interest rates are calculated according to how much someone borrows and their personal financial situation. Applicants also have the option to apply for smaller loans and personal loans of up to $50,000.
  • Rewards. MoneyMe operates a step-up program. This means that individuals that regularly pay back their MoneyMe loan on time can improve their MoneyMe rating which may lead to improved loan terms and rates with MoneyMe in the future.
  • MoneyMe Express Visa Card. MoneyMe customers are also eligible for a reloadable prepaid Visa card. The card has to be activated in the online MoneyMe Member area, after which someone can top up funds through their Internet banking account.

How much will the loan cost?

MoneyMe loans come with the following costs:
  • Establishment fee. A fee of $295 applies for setting up the loan.
  • Interest rate. On top of the the establishment fee, there will be an interest rate of at least 6.25% per year depending on the applicants profile. For some applicants this interest rate will be significantly higher so always check that you will be able to afford the repayments.
  • Dishonour fee. If a direct debit is rejected, you will be fined $15. A bank may also charge a fee if a direct debit is dishonoured.
  • Changing a payment. Customers will be charged a fee for making changes to their payment date or amount.
  • Late fee. A late payment fee is charged every time someone makes a payment more than five days after the original pay date.

MoneyMe eligibility

Eligible borrowers must meet the following criteria:

  • Age. They must be 18 years or older.
  • Employed. They must be employed. MoneyMe might contact your employer as part of the verification process.
  • Residence. They must be able to prove that they're an Australian resident.
  • Credit history. A positive credit history will help with an application.

How to apply for the MoneyMe loan

To apply for the MoneyMe loan, click "Go to Site" to get an application started. Applicants will need the following information on hand:

  • Their bank details
  • Their email address and mobile phone number
MoneyMe only accepts online applications. The more complete and accurate an application, the better the applicant's chances of being approved for the loan. MoneyMe will verify every applicant's information and offer loan terms based on their findings and the information they provide.

The application process takes about five minutes and, depending on a person's bank, money could be available in their account within a one hour of applying.

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    Default Gravatar
    December 3, 2018

    Why was my loan rejected?

      Avatarfinder Customer Care
      December 4, 2018

      Hello Andrea,

      Thank you for your comment.

      There are various reasons why your loan application is rejected. You may refer to the list of the reasons why lenders reject loan applications. We have also ensured that you can get tips on how to avoid personal loan rejections.

      For you to specifically know why your loan was rejected by MoneyMe Medium, please contact their support so they can check your loan status.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.


    Default Gravatar
    June 17, 2018

    I have a loan with MoneyMe already, if I pay it off faster, will I get approved if I apply again for a slightly bigger loan?

      Avatarfinder Customer Care
      June 17, 2018

      Hi Bratt,

      Thank you for getting in touch with finder.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      I suggest that you verify it with MoneyMe since they will assess your re-loan application. In addition, double check if you have maintained a good payment history with them to be more confident in sending your loan application.

      I hope this helps. Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


    Default Gravatar
    March 1, 2018

    How soon can I get my money?

      Avatarfinder Customer Care
      March 3, 2018

      Hi Trenice,

      Thank you for your comment.

      For MoneyMe Medium loan, the application process takes about five minutes. When you’re approved, the money will be available in your account within an hour of application, depending on your bank.


    Default Gravatar
    November 20, 2017

    I really need loan to pay for my loan term

      Avatarfinder Customer Care
      November 20, 2017

      Hi Reginald,

      Thank you for your inquiry.

      If you’re ready to apply for the MoneyMe loan you can click “Go to Site” to get your application started. You check further details we have provided above for your guidance. Should you have further questions please let us know.

      I hope this information has helped.


    Default Gravatar
    January 11, 2017

    I have a personal loan which i wanted to consolidate into one payment. I just wander if i will get approved i tried many lenders so far and got knocked off. I have a full time job,been working for them for 15 yrs now.

      Avatarfinder Customer Care
      January 11, 2017

      Hi Wilfredo,

      Thanks for your question.

      If you are looking to consolidate your personal loan, you can compare Personal Loans for Debt Consolidation on this page.

      Please note that multiple loan applications in a short period of time can negatively affect your credit score and in turn, your chance of future credit approval. So if you have already applied multiple times, please give it several weeks before submitting an application again.


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