MoneyPlace offers unsecured loans with tailored rates to help you finance vehicles, home improvement projects or even consolidate debt.
If you’re looking for a competitive loan that will reward your good credit history, you may want to consider what’s on offer from MoneyPlace. You can apply for an unsecured loan up to $35,000 to help you finance a range of personal purchases. The loans are competitive, with rates starting at 8.9% p.a. for borrowers with excellent credit history. Find out if this loan is right for you by reading the review below.
|Product Name||MoneyPlace P2P Loan|
|Interest Rate (p.a.)||From 8.9% (fixed)|
|Comparison Rate (p.a.)||8.9%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||3 years|
|Maximum Loan Term||5 years|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$35,000|
|Application Fee||(0% - 3.75% of loan amount)|
|Monthly Service Fee||$0|
Things to consider with a MoneyPlace loan
As an unsecured loan, you can use the funds for a range of personal purposes. The interest rate is tailored to your credit history, with rates starting from 8.9% p.a. for those with excellent credit. As MoneyPlace is a marketplace lender, once your loan is approved, your loan will be matched to a private investor in its personal loans marketplace.
Features MoneyPlace offers with its loan
Several key features and benefits come with this loan, including:
- Flexible loan purpose. You can purchase a new or used car, consolidate debt from personal loan or card accounts, pay for a holiday, a wedding or even fund medical expenses.
- Loan amount. You can borrow anywhere between $5,000 and $35,000 with this loan.
- Loan term. Apply for a loan term of either 3 or 5 years.
- Good credit history is rewarded. As the interest rates are tailored, you will receive a lower rate the better your credit history is. Interest rates start at a competitive 8.9% p.a. for borrowers with excellent credit histories.
- Receive a rate estimate. If you’d like a rate estimate without affecting your credit score, you can submit a few details on MoneyPlace’s website and receive an estimate in a few minutes.
- Quick online application. You can apply online in about 10 minutes, and as MoneyPlace is an online-only lender, you won’t have to submit any physical documents.
- No early exit fees. If you want to pay back your loan ahead of schedule, you can do so without penalty.
How you can apply for a MoneyPlace loan
You can easily apply for a rate estimate with MoneyPlace online. First, make sure you meet the eligibility criteria. You must:
- Be over the age of 18
- Be an Australian citizen or permanent resident
- Have a regular source of income
- Be applying as an individual
To receive a rate estimate online, you need to provide the following information:
- Loan purpose. Select from options such as debt consolidation, new or used car purchase or wedding.
- Loan details. You’ll need to select how much you want to borrow and for how long.
- Personal details. Your name, date of birth and marital status.
- Contact information. Provide your email address, home address and mobile number.
- ID. You’ll need your driver’s licence number and state.
Once you provide these details, you can receive a rate estimate, which does not affect your credit score. If you’re happy to proceed, you can fill out a complete application with MoneyPlace to have your loan fully approved and submitted to the loan marketplace for funding.